Hope-Net

Analysis

Hope-Net is a registered charity in United States, based in Los Angeles, CA. It received its IRS tax-exemption ruling in August 1993, 33 years ago. Its declared purposes cover food, agriculture and nutrition, which this site groups under poverty relief. 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 December 2023, Hope-Net reported income of $466k and spending of $518k, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $416k to $466k (+12%), an average of +2.8% a year. The sharpest change came in the year to December 2023, when income rose by 47%. Over the whole period it spent 131% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hope-Net sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 71st percentile within CA. Charities of a similar size with the same main cause include Williams After School Club Inc ($466k), Vernon Township Police Athletic League Inc ($466k) and Worcester County G O L D Inc ($465k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 21% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $61k (12% of expenses). At year end it held assets of $1.8m against liabilities of $3.7m, net assets of -$1.9m. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.