Many Hopes
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
Many Hopes meets the 20 Standards for Charity Accountability.
Stated Purpose:
"to equip children to become men and women who break cycles of injustice."
Year, State Incorporated:
2007, MA
Many Hopes reports that it works to help sustain, enhance and develop the resources, programs, and future expansion of organizations around the world that are rescuing, educating, and advocating for orphaned, abandoned, abused, or enslaved children. The organization works to generate public awareness of, and funds for, the organizations, schools, orphanages, and child rescue and rehabilitation programs and capital projects.
For the year ended December 31, 2022, Many Hopes's program expenses were:
| Program services | $2,847,791 |
| Total Program Expenses | $2,847,791 |
Chief Executive
Thomas Keown, Founder and Chief Executive Officer
Compensation*
$23,850
Chair of the Board
Maxine Friedman
Chair's Profession / Business Affiliation
Senior Vice President Growth, Bionic Solution
Board Size
7
Paid Staff Size
7
*2022 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Direct mail appeals, Radio
Fundraising costs were 8% of related contributions. (Related contributions, which totaled $3,929,881, are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Many Hopes's audited financial statements for the year ended December 31, 2022.
Source of Funds
| Unrealized losses on investments, net | $-126,506 |
| Sales of assets other than inventory, net | $-42,443 |
| Special events, net | $-28,856 |
| In-kind contributions | $3,056 |
| Investment income | $39,278 |
| Contributions | $3,560,387 |
| Total Income | $3,404,916 |
Programs: 78% Fundraising: 8% Administrative: 13%
| Total Income | $3,404,916 |
| Total expenses: | $3,633,521 |
| Program expenses | $2,847,791 |
| Fundraising expenses | $301,657 |
| Administrative expenses | $484,073 |
| Other expenses | $0 |
| Income in Excess of Expenses | $-228,605 |
| Beginning Net Assets | $2,690,922 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $2,980,425 |
| Total Liabilities | $32,258 |
| Total Assets | $3,012,683 |
Note: According to the organization's 2022 IRS Form 990, Many Hopes received in-kind contributions totaling $3,056 in the form of event supplies.
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
RELATED CONTENT
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Meets Standards
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Standards Not Met
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Did Not Disclose
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Review in Progress
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Unable to Verify
Report completed by:
BBB Wise Giving Alliance