Hope Love And Charity Foundation Inc
EIN: 550616253 · Aurora, WV
| Metric | Value |
|---|---|
| Total Revenue | $542K |
| Total Expenses | $138K |
| Net Assets | $3.4M |
Is Hope Love And Charity Foundation Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hope Love And Charity Foundation Inc
Hope Love And Charity Foundation Inc (EIN: 550616253) is a nonprofit organization based in Aurora, WV. The organization reported total revenue of $542K and total assets of $4.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hope Love And Charity Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hope Love And Charity Foundation Inc is a small nonprofit that has been operating for 32 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -9.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $102K |
| Total Expenses | $138K |
| Surplus / Deficit | $-35,345 |
| Total Assets | $3.4M |
| Total Liabilities | $420 |
| Net Assets | $3.4M |
| Operating Margin | -34.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 291.9 months |
Financial Health Grade: B
In 2023, Hope Love And Charity Foundation Inc reported a deficit of $35K with expenses exceeding revenue, holds 291.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Hope Love And Charity Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -9.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -22.8% | -12.5% | -1.0% |
| 2022 | -74.8% | -42.0% | -0.7% |
| 2021 | +273.5% | +72.5% | +8.0% |
| 2020 | -15.8% | -34.0% | -0.6% |
| 2019 | -50.3% | +41.5% | +0.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1994 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Hope Love And Charity Foundation Inc 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 Hope Love And Charity Foundation Inc 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 deficit of $35K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Hope Love And Charity Foundation Inc
Is Hope Love And Charity Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Hope Love And Charity Foundation Inc (EIN: 550616253) insufficient data. 0 red flags identified, 0 strengths noted.
How does Hope Love And Charity Foundation Inc spend its money?
Detailed spending breakdown data is not yet available for Hope Love And Charity Foundation Inc. Check back for updated IRS 990 analysis.
Are donations to Hope Love And Charity Foundation Inc tax-deductible?
Hope Love And Charity Foundation Inc is registered as a tax-exempt nonprofit (EIN: 550616253). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Hope Love And Charity Foundation Inc located?
Hope Love And Charity Foundation Inc is headquartered in Aurora, West Virginia and files with the IRS under EIN 550616253.
How many years of IRS 990 filings does Hope Love And Charity Foundation Inc have?
Hope Love And Charity Foundation Inc has 10 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 $542K in total revenue.
Filing History
IRS 990 filing history for Hope Love And Charity Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Hope Love And Charity Foundation Inc's revenue has declined by 71%, moving from $353K to $102K. Total assets increased by 15.2% over the same period, from $2.9M to $3.4M. Total functional expenses fell by 8%, from $150K to $138K. In its most recent filing year (2023), Hope Love And Charity Foundation Inc reported a deficit of $35K, with expenses exceeding revenue. The organization holds $420 in liabilities against $3.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $102K | $138K | $3.4M | $420 | — | View 990 |
| 2022 | $133K | $157K | $3.4M | $151 | — | View 990 |
| 2021 | $526K | $271K | $3.4M | $115 | — | — |
| 2020 | $141K | $157K | $3.2M | $192 | — | View 990 |
| 2019 | $167K | $238K | $3.2M | $427 | — | View 990 |
| 2015 | $336K | $168K | $3.1M | $733 | — | View 990 |
| 2014 | $271K | $168K | $3.0M | $377 | — | View 990 |
| 2013 | $286K | $195K | $2.9M | $565 | — | View 990 |
| 2012 | $92K | $207K | $2.8M | $519 | — | View 990 |
| 2011 | $353K | $150K | $2.9M | $537 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $102K, expenses of $138K, and assets of $3.4M (revenue -22.8% year-over-year).
- 2022: Revenue of $133K, expenses of $157K, and assets of $3.4M (revenue -74.8% year-over-year).
- 2021: Revenue of $526K, expenses of $271K, and assets of $3.4M (revenue +273.5% year-over-year).
- 2020: Revenue of $141K, expenses of $157K, and assets of $3.2M (revenue -15.8% year-over-year).
- 2019: Revenue of $167K, expenses of $238K, and assets of $3.2M (revenue -50.3% year-over-year).
- 2015: Revenue of $336K, expenses of $168K, and assets of $3.1M (revenue +23.9% year-over-year).
- 2014: Revenue of $271K, expenses of $168K, and assets of $3.0M (revenue -5.2% year-over-year).
- 2013: Revenue of $286K, expenses of $195K, and assets of $2.9M (revenue +210.9% year-over-year).
- 2012: Revenue of $92K, expenses of $207K, and assets of $2.8M (revenue -73.9% year-over-year).
- 2011: Revenue of $353K, expenses of $150K, and assets of $2.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hope Love And Charity Foundation Inc:
Data Sources and Methodology
This transparency report for Hope Love And Charity Foundation Inc 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.