Homes Of Hope Inc is located in Albemarle, NC. The organization was established in 2005. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Homes Of Hope Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homes Of Hope 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 06/2022, Homes Of Hope Inc generated $413.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $370.9k during the year ending 06/2022. While expenses have increased by 5.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIED TEMPORARY AND EMERGENCY AND LOW INCOME HOUSING AND SECURED SHELTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
JULY 2021 JUNE 2022 HOMES OF HOPE ACHIEVEMENTSHOMES OF HOPE (HOH) IS THE LEADING HOMELESS SERVICES PROVIDER IN STANLY COUNTY. WE PARTICIPATE AS MEMBERS THE STANLY COUNTY UNITED WAY, STANLY COUNTY PARTNERS IN HEALTH, AND OUR REGIONAL CONTINUUM OF CARE FOR NC COALITION TO END HOMELESSNESS. WE ARE THE DESIGNATED REFERRAL AGENCY FOR OUR COUNTY FOR COMMUNITY LINK, AN AGENCY BASED IN CHARLOTTE THAT OPERATES HOMELESS HOUSING FINANCIAL ASSISTANCE PROGRAMS IN SURROUNDING COUNTIES. WE ALSO PROVIDE RESOURCE EDUCATION AND HOUSING INFORMATION TO NUMEROUS AGENCIES AND INDIVIDUALS EXPERIENCING A HOUSING CRISIS. HOH OPERATED THREE PROGRAMS DURING THE FISCAL YEAR 07/01/2021 06/30/2022 INCLUDING: TRASITIONAL HOUSING, PERMANENT SUPPORTIVE HOUSING AND OVERNIGHT EMERGENCY SHELTER AT THE COMMUNITY INN. TRANSITIONAL HOUSING OPERATES USING 11 PROPERTIES IN STANLY COUNTY, NC THAT ARE USED TO PROVIDE TEMPORARY HOUSING FOR FAMILIES/INDIVIDUALS THAT ARE HOMELESS. WE PROVIDE RENT, UTILITIES, PHONE AND FURNISHINGS FOR FAMILIES WITH THE GOAL OF BEING SELF-SUFFICIENT WITHIN 6 MONTHS. COMPREHENSIVE SKILLS AND CLASSES, INTENSE CASE MANAGEMENT, MENTORING AND RESOURCE REFERRALS ARE PROVIDED DURING THE 6 MONTH TIME. DURING THE FISCAL YEAR, WE PROVIDED TRANSITIONAL HOUSING FOR 18 FAMILIES THAT WERE EXPERIENCING HOMELESSNESS. PERMANENT SUPPORTIVE HOUSING (PSH) IS A MODEL THAT COMBINES LOW-BARRIER AFFORDABLE HOUSING AND SUPPORTIVE SERVICES TO HELP INDIVIDUALS AND FAMILIES LEAD MORE STABLE LIVES. PSH TYPICALLY TARGETS PEOPLE WHO ARE HOMELESS OR OTHERWISE UNSTABLY HOUSED, EXPERIENCE MULTIPLE BARRIERS TO HOUSING, AND ARE UNABLE TO MAINTAIN HOUSING STABILITY WITHOUT SUPPORTIVE SERVICES. WE OPERATED 4 HOUSES THAT FIT THE PSH MODEL THAT SERVED 6 FAMILIES. THE COMMUNITY INN IS AN EMERGENCY OVERNIGHT SHELTER FACILITY THAT OPERATES DAILY FROM 6PM UNTIL 7AM. WE PROVIDE DINNER, BREAKFAST, A SHOWER, SAFE SLEEPING SPACES, RESOURCE INFORMATION AND CASE MANAGEMENT. DURING THE PAST FISCAL YEAR WE SERVED 129 PEOPLE INCLUDING 118 ADULTS AND 11 CHILDREN AT THE COMMUNITY INN. WE HAVE WORKED DILIGENTLY WITH OUR COMMUNITY RESOURCE PARTNERS TO MAKE HOMELESSNESS A RARE, ONE-TIME OCCURRENCE IN THE LIVES OF THE GUESTS WE SERVE. NO FUNDRAISERS WERE HELD DURING OUR FISCAL YEAR DUE TO COVID-19 RESTRICTIONS. HOMES OF HOPE HAD OVER 1000 VOLUNTEERS WITH OVER 2000 HOURS OF SERVICE DURING THIS TIME.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lashanta R Watkins Executive Director | 40 | $55,080 | |
Lindsay Carter Secretary | OfficerTrustee | 2 | $0 |
Michelle Carver Treasurer | OfficerTrustee | 2 | $0 |
Donza Mclean Vice President | OfficerTrustee | 2 | $0 |
Thomas Hahn Director | Trustee | 1 | $0 |
Caris Hahn Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $82,141 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $82,141 |
Total Program Service Revenue | $290,694 |
Investment income | $0 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $413,101 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
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. | $55,080 |
Compensation of current officers, directors, key employees. | $3,628 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $152,294 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $15,952 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $2,935 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $612 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $90,130 |
Travel | $5,765 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $726 |
Interest | $810 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $10,060 |
Insurance | $15,088 |
All other expenses | $0 |
Total functional expenses | $370,854 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $76,268 |
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 | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $194,287 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $270,555 |
Accounts payable and accrued expenses | $4,640 |
Grants payable | $0 |
Deferred revenue | $0 |
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 | $15,598 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $20,238 |
Net assets without donor restrictions | $235,506 |
Net assets with donor restrictions | $14,811 |
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 | $270,555 |
Over the last fiscal year, we have identified 2 grants that Homes Of Hope Inc has recieved totaling $20,167.
Awarding Organization | Amount |
---|---|
United Way Of Stanly County Albemarle, NC PURPOSE: GENERAL SUPPORT | $14,667 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $5,500 |
Organization Name | Assets | Revenue |
---|---|---|
Georgia Southern University Housing Foundation Inc Statesboro, GA | $249,175,255 | $10,373,698 |
Appalachian Student Housing Corporation Boone, NC | $99,024,525 | $6,456,684 |
Bloom Our Youth Inc Fayetteville, GA | $3,984,539 | $4,314,160 |
Serenity Pointe Inc Dunlap, TN | $2,490,170 | $4,102,577 |
Greenpointe Regional Housing Inc Dunn, NC | $10,308,542 | $2,284,690 |
Open Table Of Nashville Inc Nashville, TN | $444,222 | $1,157,501 |
Rainbow Village Inc Duluth, GA | $9,090,525 | $2,152,472 |
Veterans Life Center Raleigh, NC | $1,727,706 | $1,329,274 |
Homeless No More Inc Columbia, SC | $6,056,633 | $1,621,915 |
True Purpose Ministries Maryville, TN | $2,038,433 | $1,219,633 |
Biblical Concepts Group Home Gallatin, TN | $711,318 | $1,118,514 |
Fayetteville State University Student Housing Corporation Fayetteville, NC | $19,255,663 | $717,505 |