Hope Ignites New York
Hope Ignites New York shows inconsistent financial performance with recent deficit, but no officer compensation.
EIN: 132990982 · Brooklyn, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.4M |
| Total Expenses | $2.7M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $4.3 |
| Net Assets | $388K |
| Transparency Score | 75/100 |
Is Hope Ignites New York Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hope Ignites New York directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hope Ignites New York
Hope Ignites New York (EIN: 132990982) is a nonprofit organization based in Brooklyn, NY. The organization reported total revenue of $4.4M and total assets of $3.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hope Ignites New York's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hope Ignites New York is a mid-size nonprofit that has been operating for 47 years, with 7 years of IRS 990 filings on record (2017–2023). 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 | $1.7M |
| Total Expenses | $2.7M |
| Surplus / Deficit | $-1,057,979 |
| Total Assets | $1.0M |
| Total Liabilities | $629K |
| Net Assets | $388K |
| Operating Margin | -63.3% |
| Debt-to-Asset Ratio | 61.8% |
| Months of Reserves | 4.5 months |
Financial Health Grade: C
In 2023, Hope Ignites New York reported a deficit of $1.1M with expenses exceeding revenue, holds 4.5 months of operating reserves (adequate), has a debt-to-asset ratio of 61.8% (high leverage).
Financial Trends
Over 7 years of filings (2017–2023), Hope Ignites New York's revenue has declined at a compound annual growth rate (CAGR) of -10.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -43.5% | +13.9% | -45.1% |
| 2022 | +14.9% | +4.7% | +31.0% |
| 2021 | +14.6% | -7.7% | +20.9% |
| 2020 | -0.9% | -16.9% | +0.8% |
| 2019 | +161.8% | +30.9% | -36.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1979 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hope Ignites New York with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Hope Ignites New York allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 61.8%.
Executive Compensation Analysis
Hope Ignites New York consistently reports 0% officer compensation across all seven available IRS 990 filings, indicating that its top executives are not compensated through the organization's funds, which is highly favorable for a nonprofit of its size with latest revenue of over $4.3 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Hope Ignites New York's IRS 990 filings:
- Inconsistent financial performance with multiple years of expenses exceeding revenue (e.g., 202306, 202006, 201906, 201806).
- Significant deficit in the most recent filing (202306) where expenses ($2,728,083) were substantially higher than revenue ($1,670,104).
- Unknown NTEE code, which limits specific programmatic and comparative analysis.
Strengths
The following positive indicators were identified for Hope Ignites New York:
- Consistent reporting of 0% officer compensation across all available filings, indicating strong financial stewardship at the executive level.
- Consistent filing of IRS 990s over seven periods, demonstrating commitment to transparency and regulatory compliance.
- Significant asset base of $3,409,917, providing a buffer despite fluctuating annual performance.
- Overall revenue growth trend from $866,240 in 201806 to a latest reported $4,356,974.
Frequently Asked Questions about Hope Ignites New York
Is Hope Ignites New York a legitimate charity?
Hope Ignites New York (EIN: 132990982) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 7 years of IRS 990 filings on record. Total revenue: $4.4M. 3 red flags identified. 4 strengths noted. Financial health grade: C.
How does Hope Ignites New York spend its money?
Hope Ignites New York directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Hope Ignites New York tax-deductible?
Hope Ignites New York is registered as a tax-exempt nonprofit (EIN: 132990982). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Hope Ignites New York CEO make?
Hope Ignites New York's highest-compensated officer earns $4.3 annually. The organization reported $4.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Hope Ignites New York's spending goes to programs?
Hope Ignites New York directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Hope Ignites New York located?
Hope Ignites New York is headquartered in Brooklyn, New York and files with the IRS under EIN 132990982.
How many years of IRS 990 filings does Hope Ignites New York have?
Hope Ignites New York has 7 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $4.4M in total revenue.
Is Hope Ignites New York financially stable?
Hope Ignites New York's financial stability appears inconsistent. While it has periods of strong revenue generation and positive net income (e.g., 202206, 202106), it also experiences years where expenses significantly exceed revenue (e.g., 202306, 202006, 201906, 201806). The latest filing for 202306 shows a deficit of over $1 million, which warrants closer examination.
How does Hope Ignites New York manage its liabilities?
The organization's liabilities have fluctuated, reaching a high of $629,294 in 202306, up from $211,772 in 202206. While assets generally exceed liabilities, the significant increase in liabilities in the most recent period, coupled with a deficit, suggests a need to monitor debt management.
What is the trend in Hope Ignites New York's revenue growth?
Hope Ignites New York's revenue has shown significant growth from $866,240 in 201806 to a latest reported revenue of $4,356,974. However, there have been dips, such as the revenue of $1,670,104 in 202306, which is lower than the previous two years, indicating non-linear growth.
Filing History
IRS 990 filing history for Hope Ignites New York showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2017–2023), Hope Ignites New York's revenue has declined by 49.7%, moving from $3.3M to $1.7M. Total assets decreased by 68.7% over the same period, from $3.3M to $1.0M. Total functional expenses rose by 28.3%, from $2.1M to $2.7M. In its most recent filing year (2023), Hope Ignites New York reported a deficit of $1.1M, with expenses exceeding revenue. The organization holds $629K in liabilities against $1.0M in assets (debt-to-asset ratio: 61.8%), resulting in net assets of $388K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $2.7M | $1.0M | $629K | — | — |
| 2022 | $3.0M | $2.4M | $1.9M | $212K | — | View 990 |
| 2021 | $2.6M | $2.3M | $1.4M | $335K | — | View 990 |
| 2020 | $2.2M | $2.5M | $1.2M | $375K | — | View 990 |
| 2019 | $2.3M | $3.0M | $1.2M | $134K | — | View 990 |
| 2018 | $866K | $2.3M | $1.8M | $83K | — | View 990 |
| 2017 | $3.3M | $2.1M | $3.3M | $95K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $2.7M, and assets of $1.0M (revenue -43.5% year-over-year).
- 2022: Revenue of $3.0M, expenses of $2.4M, and assets of $1.9M (revenue +14.9% year-over-year).
- 2021: Revenue of $2.6M, expenses of $2.3M, and assets of $1.4M (revenue +14.6% year-over-year).
- 2020: Revenue of $2.2M, expenses of $2.5M, and assets of $1.2M (revenue -0.9% year-over-year).
- 2019: Revenue of $2.3M, expenses of $3.0M, and assets of $1.2M (revenue +161.8% year-over-year).
- 2018: Revenue of $866K, expenses of $2.3M, and assets of $1.8M (revenue -73.9% year-over-year).
- 2017: Revenue of $3.3M, expenses of $2.1M, and assets of $3.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hope Ignites New York:
Data Sources and Methodology
This transparency report for Hope Ignites New York 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.