Project Hope Food Bank Inc
- Assets
- $727.9k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 3
- Location
- Hot Springs, AR
- Founding
- 10/2008
- Data as of
- 12/2023
- EIN
- 26-1737554
Organization Overview
Project Hope Food Bank Inc is located in Hot Springs, AR. The organization was established in 2008. According to its NTEE Classification (K31) the organization is classified as: Food Banks & Pantries, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2023, Project Hope Food Bank Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project Hope Food Bank 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 12/2023, Project Hope Food Bank Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $1.3m during the year ending 12/2023. While expenses have increased by 9.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING AFFORDABLE AND HEALTHY FOOD TO FOOD PANTRIES AND FEEDING PROGRAMS THAT SERVE THOSE AT RISK OF HUNGER IN WEST CENTRAL ARKANSAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATE TO POOL RESOURCES, HELPING TO SUPPORTING 45 AREA NONPROFITS THAT DO NOT HAVE THE ASSETS TO PURCHASE OR STORE ENORMOUS QUANTITIES OF FOOD. PURCHASING FOOD WHOLESALE IN LARGE LOTS FOR THE BEST PRICE HELPS HOMELESS SHELTERS, CHARITY KITCHENS, FOOD PANTRIES, CRISIS CENTERS, CHILDRENS HOMES, SCHOOL BACKPACK PROGRAMS AND CHILDRENS FEEDING PROGRAMS TO FULFILL THEIR MISSIONS. OUR IMPACT IN THE COMMUNITY IS EXTENSIVE DUE TO OUR RESOURCES: A DONATED WAREHOUSE, DEBT-FREE EQUIPMENT, AND A VOLUNTEER WORKFORCE WHICH INCLUDES OUR EXECUTIVE DIRECTOR AND INVENTORY SPECIALIST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rebecca Chote Secretary | OfficerTrustee | 30 | $31,183 |
Doug Arnold Director | Trustee | $0 | |
Tonya Baier Director | Trustee | $0 | |
Stephen Blasche Treasurer | OfficerTrustee | $0 | |
Carol Dickinson Vice-Preside | OfficerTrustee | $0 | |
Mark Fleischner Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $575,808 |
| Noncash contributions included in lines 1a–1f | $27,333 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $575,808 |
| Total Program Service Revenue | $832,211 |
| Investment income | $4,158 |
| 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 | $1,412,177 |
| 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. | $31,183 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,667 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,890 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,842 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,333 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,617 |
| Insurance | $6,253 |
| All other expenses | $1,902 |
| Total functional expenses | $1,312,854 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $201,652 |
| Savings and temporary cash investments | $162,818 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,051 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $189,262 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $141,906 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,219 |
| Total assets | $727,908 |
| Accounts payable and accrued expenses | $21,550 |
| Grants payable | $0 |
| Deferred revenue | $27,224 |
| 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 | $2,273 |
| Total liabilities | $51,047 |
| Net assets without donor restrictions | $666,642 |
| Net assets with donor restrictions | $10,219 |
| 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 | $727,908 |