Many Hopes Inc

Nonprofit profile at a glance

EIN
392067502
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2102626112
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
International Relief

Official website

Reported finances

Revenue
$5,395,538
Expenses
$4,924,019
Assets
$2,137,721
Liabilities
$37,527

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • MAXINE FRIEDMAN (PRESIDENT)
  • THOMAS KEOWN (FOUNDER & CEO)

Highest reported compensation

  • THOMAS KEOWN (FOUNDER & CEO): $133,452 total reported compensation
  • MADELEINE PAHR (CREATIVE DIRECTOR): $118,000 total reported compensation
  • COLIN HUNTER (HEAD OF STRATEGY): $102,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Many hopes rescues children from oppression and raises them to be adults of influence equipped to do justice for others, causing exponential impact.

What it reported doing in 2024

The organization was founded to house and educate orphaned and abandoned children in kenya. This year it expanded to six new partnerships in malawi, ghana, guatemala, bolivia and peru. Funds raised were granted to: 1. Rescue children from slavery trafficking, sexual abuse and abandonment. 2. Provide a safe place to live and receive care and healing from trauma. 3. Educate children at elementary school, high school, and college levels and provide mentoring in justice and civics so they can become adults equipped to lead.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 83
  • Accountability: 95
  • Sustainability: 47
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.6%; rating input score 65
  • Program expense ratio: 70.3%; rating input score 70
  • Fundraising efficiency: $5.99 raised per $1 spent on fundraising; rating input score 22; 22nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 3 of 8 controls in place; rating input score 38
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Pass
    • May suspend future funding: Fail
    • Requires financial reports: Pass
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.7%; rating input score 60; 60th percentile among comparable filings
  • Total-asset coverage ratio: 0.43; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 41; 41st percentile among comparable filings

Growth

  • Program expense growth: 14.3% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 13.8% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 7.9% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 64.6% of revenue deployed · 70.3% of spending went to programs
  • Governance: 6 of 6 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.5M in reported program spending
  • Leadership: top reported pay $133K · 10 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors and foreign activity
  • Filing history: 13 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Transparency & Controls: Foreign activity oversight: 5 of 8 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 22/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • Review — Accountability: Governance controls: Audit committee oversight not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 41/100.