Hats for Hope

Analysis

Hats for Hope is a registered charity in United States, based in Arroyo Grande, CA. It received its IRS tax-exemption ruling in May 2002, 24 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Hats for Hope reported income of $59k and spending of $78k, spending 132% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income fell from $123k to $59k (-52%), an average of -17% a year. The sharpest change came in the year to July 2021, when income rose by 136%. Over the whole period it spent 100% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hats for Hope sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 25th percentile within CA. Charities of a similar size with the same main cause include Balance Project Inc ($59k), Camp of Dreams ($59k) and Memory Keepers Foundation ($59k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 35% and program service revenue 65% of the total. At year end it held assets of $111k against liabilities of $0, net assets of $111k.