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 06/2024, Homes Of Hope Inc employed 14 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 06/2024, Homes Of Hope Inc generated $357.9k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $420.6k during the year ending 06/2024. While expenses have increased by 5.5% per year over the past 9 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
2024
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 2023 JUNE 2024 HOMES OF HOPE ACHIEVEMENTSHOMES OF HOPE (HOH) IS THE LEADING HOMELESS SERVICES PROVIDER IN STANLY COUNTY. WE PARTICIPATE AS MEMBERS OF 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. JULY 2023 JUNE 2024 HOMES OF HOPE ACHIEVEMENTSHOMES OF HOPE (HOH) IS THE LEADING HOMELESS SERVICES PROVIDER IN STANLY COUNTY. WE PARTICIPATE AS MEMBERS OF 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 07/01/2023 06/30/2024 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 20 FAMILIES THAT WERE EXPERIENCING HOMELESSNESS. THOSE 20 FAMILIES CONSISTS OF 25 ADULTS AND 43 CHILDREN. 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. THOSE FAMILIES INCLUDE 7 ADULTS AND 16 CHILDREN. 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 150 PEOPLE INCLUDING 125 ADULTS AND 25 CHILDREN AT THE COMMUNITY INN. BED STAYS AT THE SHELTER IS THE NUMBER OF BEDS THAT WERE OCCUPIED BUT INDIVIDUAL GUESTS. OUR BED STAYS FOR THE FISCAL YEAR WAS 5397. WE HAVE WORKED DILIGENTLY WITH OUR COMMUNITY RESOURCE PARTNERS TO ADDRESS UNHOUSED NEEDS IN OUR COMMUNITY. WE HAVE PARTNERED WITH STANLY COMMUNITY COLLEGE AND HAD 33 INTERN STUDENTS THAT CONTRIBUTED 120 HOURS TO MAKE HOMELESSNESS A RARE, ONE-TIME OCCURRENCE IN THE LIVES OF THE GUESTS WE SERVE. WE HELD OUR FIRST FUNDRAISER SINCE COVID19. IT WAS OUR ANNUAL BREAKFAST IN MAY OF 2024 AND SUCCESSFULLY RAISED $7500.00. HOMES OF HOPE HAD 1082 VOLUNTEERS WITH OVER 4500 HOURS OF SERVICE DURING THIS TIME.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lashanta R Watkins Executive Director | 40 | $55,296 | |
Gary Moran Director | Trustee | 2 | $0 |
Heather Kilde Director | Trustee | 2 | $0 |
Dion Brooks Director | Trustee | 2 | $0 |
Connie Goins Director | Trustee | 2 | $0 |
Brian Johnson Director | Trustee | 0 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $114,854 |
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 | $114,854 |
Total Program Service Revenue | $243,010 |
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 | $357,864 |
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. | $55,296 |
Compensation of current officers, directors, key employees. | $3,594 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $199,543 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $19,577 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $2,940 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $677 |
Advertising and promotion | $0 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $81,741 |
Travel | $7,111 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,947 |
Interest | $795 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $7,472 |
Insurance | $15,407 |
All other expenses | $0 |
Total functional expenses | $420,644 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $55,774 |
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 | $111,811 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $167,585 |
Accounts payable and accrued expenses | $4,924 |
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 | $5,420 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $10,344 |
Net assets without donor restrictions | $154,110 |
Net assets with donor restrictions | $3,131 |
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 | $167,585 |