Renewal House
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$3,152,360.00
Projected Expenses
$3,152,360.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| renewal house irs ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $5,669,957.00 | $5,313,015.00 | |
| Total Expenses | $1,827,305.00 | $2,100,165.00 | |
| Revenue Less Expenses | ($-0.00) | $3,842,652.00 | $3,212,850.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | |
| Government - Federal | $0.00 | $0.00 | |
| Government - State | $0.00 | $0.00 | |
| Government - Local | $0.00 | $0.00 | |
| Government - Unspecified | $2,374,934.00 | $1,548,832.00 | |
| Contributions, Gifts, and Grants | $2,993,067.00 | $2,604,851.00 | |
| Indirect Public Support | $0.00 | $0.00 | |
| Earned Revenue | $117,962.00 | $114,734.00 | |
| Investment Income, Net of Losses | $44,855.00 | $270,312.00 | |
| Membership Dues | $0.00 | $0.00 | |
| Special Events | $132,464.00 | $106,916.00 | |
| Revenue In-Kind | $5,000.00 | $65,000.00 | |
| Other | $1,675.00 | $10,143.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $1,363,213.00 | $1,493,072.00 | |
| Administration Expense | $312,808.00 | $326,876.00 | |
| Fundraising Expense | $151,284.00 | $280,217.00 | |
| Total Revenue/Total Expenses | 310% | 253% | |
| Program Expense/Total Expenses | 75% | 71% | |
| Fundraising Expense/Contributed Revenue | 8% | 13% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | $0.00 | Contributions, Gifts, and Grants $2,993,067.00 | Contributions, Gifts, Grants $2,604,851.00 |
| Second Highest Funding Source & Dollar Amount | $0.00 | Government Grants $2,374,934.00 | Government Grants $1,548,832.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | Fundraising Events $132,464.00 | Interest Income $270,312.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $23,824,886.00 | $6,295,927.00 | |
| Current Assets | $12,679,837.00 | $4,327,116.00 | |
| Long-Term Liabilities | $11,394,018.00 | $0.00 | |
| Current Liabilities | $130,071.00 | $285,091.00 | |
| Total Net Assets | $12,300,797.00 | $6,010,836.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$26,506.00
What is the spending policy for your endowment?
Percentage
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Under Extension
Form 990s
| renewal house 2022 990 | 2022 |
| renewal house 2021 990 | 2021 |
| renewal house 2020 990 | 2020 |
| renewal house 2019 990 | 2019 |
| renewal house 2018 990 | 2018 |
| renewal house 2017 990 | 2017 |
| renewal house 2016 990 | 2016 |
| renewal house 2015 990 | 2015 |
| renewal house 2014 990 | 2014 |
| renewal house 2013 990 | 2013 |
| renewal house 2012 990 | 2012 |
| renewal house 2011 990 | 2011 |
| renewal house 2010 990 | 2010 |
| renewal house 2009 990 | 2009 |
| renewal house 2008 990 | 2008 |
| renewal house 2007 990 | 2007 |
| renewal house 2006 990 | 2006 |
| renewal house 2005 990 | 2005 |
| renewal house 2004 990 | 2004 |
Audit Documents
CEO/Executive Director/Board Comments
| Through close attention from the Board of Directors and aggressive cultivation of funding streams, Renewal House has built a solid financial base. The diversity of support makes Renewal House less vulnerable if a significant government or private funding source were eliminated. Through meticulous financial management, Renewal House paid off the mortgage on its residential facilities and offices in 2001, only four years after purchasing the site. The Development Committee meets regularly to strategize about fundraising. In addition to maintaining and cultivating public support through federal, state and local agencies, the Development Committee has been successful at private fundraising through events like Renewal House Thanksgiving and the spring annual mail campaign. The Board of Directors has developed and implemented an investment philosophy to serve as a roadmap and measuring stick for future investments. The Finance Committee is dedicated to making the best use of investment resources to support the agency's mission by focusing on long-term sustainability, program expansion, and rainy day needs. While some might mistakenly think that financial reserves at Renewal House show limited need for donations, the reality is that only through aggressive and effective fundraising can we secure the stable future that our clients deserve. Our Board and staff believe that steady, diligent fundraising and thoughtful financial management prepare Renewal House to weather those unexpected financial storms that otherwise endanger the sustainability of a nonprofit organization. |
Foundation Staff Comments
| Financial figures were taken from the 990 and audit. Foundation and corporate grants may not be included in Contributions, Gifts and Grants sum, as these amounts are not separated in Form 990. Financial documents prepared by Cherry Bekaert Advisory LLP. Comments provided by Nicole Rose 05/02/2023. **The endowment for Renewal House is held at The Community Foundation of Middle Tennessee. |
