Center of Hope
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$1,056,569.00
Projected Expenses
$1,038,118.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| Center of Hope IRS Letter |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $946,135.00 | $1,149,295.00 | $1,061,734.00 |
| Total Expenses | $929,584.00 | $1,094,785.00 | $1,040,628.00 |
| Revenue Less Expenses | $16,551.00 | $54,510.00 | $21,106.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $745,288.00 | $874,643.00 | $766,340.00 |
| Contributions, Gifts, and Grants | $139,331.00 | $205,228.00 | $247,935.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $7,140.00 | $6,541.00 | $5,499.00 |
| Investment Income, Net of Losses | $2,384.00 | $849.00 | $1,108.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $51,542.00 | $62,034.00 | $40,852.00 |
| Revenue In-Kind | $0.00 | $0.00 | $0.00 |
| Other | $0.00 | $0.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $689,581.00 | $821,272.00 | $789,816.00 |
| Administration Expense | $240,003.00 | $273,513.00 | $250,812.00 |
| Fundraising Expense | $0.00 | $0.00 | $0.00 |
| Total Revenue/Total Expenses | 102% | 105% | 102% |
| Program Expense/Total Expenses | 74% | 75% | 76% |
| Fundraising Expense/Contributed Revenue | 0% | 0% | 0% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Government Grants $745,288.00 | Government Grants $874,643.00 | Government Grants $766,340.00 |
| Second Highest Funding Source & Dollar Amount | Contributions, Gifts, and Grants $139,331.00 | Contributions, Gifts, Grants $205,228.00 | Contributions, Gifts, and Grants $247,935.00 |
| Third Highest Funding Source & Dollar Amount | Fundraising Events $51,542.00 | Fundraising Events $62,034.00 | Fundraising Events $40,852.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $979,126.00 | $946,078.00 | $923,871.00 |
| Current Assets | $884,302.00 | $849,377.00 | $812,667.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Current Liabilities | $31,011.00 | $14,514.00 | $43,383.00 |
| Total Net Assets | $948,115.00 | $931,564.00 | $880,488.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$5,000.00
What is the spending policy for your endowment?
Percentage
Capital Campaign Info
Are you currently in a Capital Campaign?
Anticipated In 3 Years
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
December
Permit Expiration Year
2024
Solicitations Permit
Form 990s
Audit Documents
Foundation Staff Comments
| Financials were taken from the 990. 990 completed by James B. Hughes, Jr., CPA. Comments provided by Comments provided by Hayley Sulfridge 4/22/24. |
