Reason For Our Hope Foundation Inc
- Assets
- $1.1m
- Revenue
- $462.0k
- Investments
- $0.0
- Employees
- 7
- Location
- Erie, PA
- Founding
- 01/2007
- Data as of
- 12/2021
- EIN
- 20-1674258
Organization Overview
Reason For Our Hope Foundation Inc is located in Erie, PA. The organization was established in 2007. According to its NTEE Classification (X22) the organization is classified as: Roman Catholic, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Reason For Our Hope Foundation Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reason For Our Hope Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Reason For Our Hope Foundation Inc generated $462.0k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $469.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FULFILL THE COMMAND OF CHRIST TO "GO AND MAKE DISCIPLES"
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SPREADS THE GOSPELS BY CONDUCTING AND PROVIDING SPEAKERS FOR CONFERENCES AND RETREATS AND ALSO BY SALES OF RELATED MEDIA PRODUCTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Therese Craig Executive Director | Trustee | 40 | $58,700 |
Father Larry Richards President | OfficerTrustee | 20 | $31,150 |
Cary Chludzinski Treasurer | OfficerTrustee | 1 | $0 |
Debra A Thompson Secretary | OfficerTrustee | 1 | $0 |
Scott L Wallen Board Member | Trustee | 1 | $0 |
Arthur Martinucci Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $37,623 |
| All other contributions, gifts, grants, and similar amounts not included above | $332,435 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $370,058 |
| Total Program Service Revenue | $99,999 |
| Investment income | $31 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $377 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$37,054 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $18,911 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $461,960 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $27,558 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $182,499 |
| Pension plan accruals and contributions | $3,873 |
| Other employee benefits | $1,805 |
| Payroll taxes | $12,415 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,986 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $929 |
| Advertising and promotion | $78,470 |
| Office expenses | $30,015 |
| Information technology | $25,981 |
| Royalties | $13 |
| Occupancy | $18,562 |
| Travel | $4,821 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,933 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,964 |
| Insurance | $0 |
| All other expenses | $456 |
| Total functional expenses | $468,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $339,883 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $83,474 |
| Prepaid expenses and deferred charges | $38,580 |
| Net Land, buildings, and equipment | $663,923 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,125,860 |
| Accounts payable and accrued expenses | $232 |
| Grants payable | $0 |
| Deferred revenue | $5,700 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,932 |
| Net assets without donor restrictions | $1,119,928 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,125,860 |
Grants Awarded
Over the last fiscal year, Reason For Our Hope Foundation Inc has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Erie, PA PURPOSE: TO FURTHER THE MISSION OF SPREADING THE GOOD NEWS OF JESUS CHRIST AND HIS CHURCH | $10,000 |
Erie, PA PURPOSE: TO FURTHER THE MISSION OF SPREADING THE GOOD NEWS OF JESUS CHRIST AND HIS CHURCH | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Reason For Our Hope Foundation Inc has recieved totaling $7,919.
| Awarding Organization | Amount |
|---|---|
Erie Community Foundation Erie, PA PURPOSE: VARIOUS PROJECTS | $7,417 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $427 |
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $75 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Catholic Charities Community Services Archdiocese Of New York New York, NY | $26,243,473 | $67,855,739 |
Woodlawn Foundation New Rochelle, NY | $58,943,273 | $25,049,674 |
Dynamic Catholic Institute Cincinnati, OH | $46,011,933 | $24,743,201 |
Raskob Foundation For Catholic Activities Incorporated Wilmington, DE | $222,202,600 | $26,821,611 |
Community Association Of Progressive Dominicans Inc New York, NY | $3,345,960 | $6,118,311 |
Murray Hill Place Inc New York, NY | $43,211,368 | $5,022,335 |
Cise Cincinnati, OH | $26,854,331 | $7,324,023 |
Catholic Migration Services Inc Brooklyn, NY | $5,700,505 | $6,076,447 |
Villa St Joseph Of Baden Inc Baden, PA | $11,517,142 | $339,761 |
Holy Love Ministries North Ridgeville, OH | $21,288,130 | $2,402,696 |
Riverside Study Center Inc New York, NY | $14,243,524 | $2,424,338 |
Hrh Management Corporation Huntingdon Valley, PA | $24,532,221 | $3,996,088 |