Cottages of Hope Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
Cottages of Hope exists to inspire individuals and households to realize their potential by providing meaningful programs and services that empower them to achieve greater levels of financial stability. Activities include free tax preparation, financial literacy presentations, free internet access, IDA Savings Plans, and job coaching.
- Income
- $1.3 million
- Spending
- $1.0 million
- Spent on programs
- 92%
- Reserves
- 6 months of spending
- Largest source of income
- donations and private grants, 100%
- Employees
- 5
- Volunteers
- 60
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Strong: 93 out of 100. Higher than 80% of charities in its peer group (human services, $1m to $10m).
Reserves
28 of 35Spendable reserves would cover 6.0 months of spending.
Debt
20 of 20It owes 4% of what it owns.
Living within its means
15 of 15Income exceeded spending by 19% of income.
Income trend
15 of 15Income rose 53% on the year before.
Spending floor
15 of 1592% of spending went to programs and raising each dollar of donations cost 2 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 84 out of 100. Higher than 36% of charities in its peer group (human services, $1m to $10m).
Independent board
25 of 2513 of 13 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $960,319 spent. Workforce Development: (The Prosperity Center): Our resource center offers freecomputer and internet access, technical assistance, phone(fax), and information about other valuable community resources. The Center utilizes volunteers and work based learning participants from the Federal Work Study Program, Family Employment Program(FEP, Job Corps, and Easter Seals). A majority of our efforts in the center are still focused primarily on helping individuals find stable employment.Free Tax Preparation: Cottages of Hope continues to offer the Volunteer Income TaxAssistance (VITA) program where we prepared returns in 2015. Our purpose or goal inoffering this services is to help the client obtain all of the credits they qualifyfor and to encourage them to use their tax refunds to become more financially stable. Suggestions include setting up an emergency fund, paying down debt, paying for additional schooling, or making needed car and home repairs. While having their taxes done, clients are invited to complete our "Get Connected" card that helps us maintain our relationship with them throughout the year. This enables us to contact them concerning programs and services (ours and those offered by our community partners) that make sense based on their needs.Financial Literacy: In addition to teaching classes at our location, we taughtnumerous off-site financial presentations for nonprofit, religious, and studentgroups.Other Programs (Services): In addition, Cottages of Hope also provides a number ofservices that lead to greater levels of financial stability. On a case by casebasis, Cottages of Hope provides one on one financial and job coaching and educationsessions intended to help clients learn to create budgets, create plans to reduce debt, to improve credit scores, to improve resumes, and to increase the quality of their interview skills.Cottages of Hope is a SparkPoint Center where hard-working, low-income people canaccess a full range of services to help them get out of poverty and achieve long-term financial stability. The Center brings together the most effective nonprofit and government partners to help clients build assets, grow income, and manage debt. Each client works with a personal coach, who helps create a step-by-step plan toaccomplish financial goals. This long-term approach provides on-going support untilgoals are accomplished.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since June 2008.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.