Hopesparks

Analysis

Hopesparks is a registered charity in United States, based in Tacoma, WA. It received its IRS tax-exemption ruling in July 1942, 84 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hopesparks reported income of $11.5m and spending of $11.0m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $6.8m to $11.5m (+70%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 31%. Over the whole period it spent 91% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hopesparks sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within WA. Charities of a similar size with the same main cause include South Georgia Health Alliance Inc ($11.5m), Mainstream Nonprofit Solutions Inc ($11.5m) and Compass Family and Community Services ($11.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $324k (2.9% of expenses). Other salaries and wages came to $7.2m. At year end it held assets of $10.3m against liabilities of $3.2m, net assets of $7.0m. It reported 137 employees.