Hopesource

Analysis

Hopesource is a registered charity in United States, based in Ellensburg, WA. It received its IRS tax-exemption ruling in March 1967, 59 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, Hopesource reported income of $20.6m and spending of $19.6m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.5m to $20.6m (+174%), an average of +29% a year. The sharpest change came in the year to December 2021, when income rose by 51%. Over the whole period it spent 92% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hopesource sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within WA. Charities of a similar size with the same main cause include Community Systems Inc ($20.6m), Family Services of Northeast Wisconsin Inc ($20.6m) and Willows Way Inc ($20.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 4.6% of the total. Compensation of current officers, directors and key employees was $530k (2.7% of expenses). Other salaries and wages came to $5.1m. At year end it held assets of $21.5m against liabilities of $13.5m, net assets of $8.0m. It reported 165 employees.