Claras Hope
EIN: 842467379 · Fenton, MI · NTEE: P20
| Metric | Value |
|---|---|
| Total Revenue | $397K |
| Total Expenses | $262K |
| Net Assets | $275K |
Is Claras Hope Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Claras Hope
Claras Hope (EIN: 842467379) is a nonprofit organization based in Fenton, MI, classified under NTEE code P20. The organization reported total revenue of $397K and total assets of $387K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Claras Hope's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Claras Hope is a small nonprofit that has been operating for 6 years, with 4 years of IRS 990 filings on record (2020–2023). Revenue has grown at a compound annual rate of 10.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $289K |
| Total Expenses | $262K |
| Surplus / Deficit | +$27K |
| Total Assets | $395K |
| Total Liabilities | $120K |
| Net Assets | $275K |
| Operating Margin | 9.3% |
| Debt-to-Asset Ratio | 30.4% |
| Months of Reserves | 18.1 months |
Financial Health Grade: A
In 2023, Claras Hope reported a surplus of $27K with revenue exceeding expenses, holds 18.1 months of operating reserves (strong position), has a debt-to-asset ratio of 30.4% (moderate leverage).
Financial Trends
Over 4 years of filings (2020–2023), Claras Hope's revenue has grown at a compound annual growth rate (CAGR) of 10.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -13.4% | -11.7% | +59.2% |
| 2022 | +51.9% | +72.9% | +17.6% |
| 2021 | +3.3% | +244.8% | +29.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2020 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Claras Hope has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Claras Hope with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $27K, with revenue exceeding expenses.
- Debt-to-asset ratio: 30.4%.
Frequently Asked Questions about Claras Hope
Is Claras Hope a legitimate charity?
Based on AI analysis of IRS 990 filings, Claras Hope (EIN: 842467379) insufficient data. 0 red flags identified, 0 strengths noted.
How does Claras Hope spend its money?
Detailed spending breakdown data is not yet available for Claras Hope. Check back for updated IRS 990 analysis.
Are donations to Claras Hope tax-deductible?
Claras Hope is registered as a tax-exempt nonprofit (EIN: 842467379). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Claras Hope located?
Claras Hope is headquartered in Fenton, Michigan and files with the IRS under EIN 842467379. It is classified under NTEE code P20.
How many years of IRS 990 filings does Claras Hope have?
Claras Hope has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $397K in total revenue.
Filing History
IRS 990 filing history for Claras Hope showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2020–2023), Claras Hope's revenue has grown by 35.9%, moving from $213K to $289K. Total assets increased by 142.4% over the same period, from $163K to $395K. Total functional expenses rose by 426.4%, from $50K to $262K. In its most recent filing year (2023), Claras Hope reported a surplus of $27K, with revenue exceeding expenses. The organization holds $120K in liabilities against $395K in assets (debt-to-asset ratio: 30.4%), resulting in net assets of $275K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $289K | $262K | $395K | $120K | — | — |
| 2022 | $334K | $297K | $248K | $0 | — | View 990 |
| 2021 | $220K | $172K | $211K | $0 | — | View 990 |
| 2020 | $213K | $50K | $163K | $0 | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $289K, expenses of $262K, and assets of $395K (revenue -13.4% year-over-year).
- 2022: Revenue of $334K, expenses of $297K, and assets of $248K (revenue +51.9% year-over-year).
- 2021: Revenue of $220K, expenses of $172K, and assets of $211K (revenue +3.3% year-over-year).
- 2020: Revenue of $213K, expenses of $50K, and assets of $163K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Claras Hope:
Data Sources and Methodology
This transparency report for Claras Hope is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.