Partners In Hope Inc
- Assets
- $10.5m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 199
- Location
- Myrtle Beach, SC
- Founding
- 11/2010
- Data as of
- 12/2021
- EIN
- 27-1709631
Organization Overview
Partners In Hope Inc, operating under the name Oaks Of Loris & Inlet Oaks Assisted Living, is located in Myrtle Beach, SC. The organization was established in 2010. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Oaks Of Loris & Inlet Oaks Assisted Living employed 199 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oaks Of Loris & Inlet Oaks Assisted Living 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, Oaks Of Loris & Inlet Oaks Assisted Living generated $3.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 44.2% each year . All expenses for the organization totaled $3.9m during the year ending 12/2021. While expenses have increased by 18.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE TWO SIXTY BED ASSISTED LIVING FACILITIES FOR THE ELDERLY AND DISABLED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OPERATE TWO SIXTY BED ASSISTED LIVING FACILITIES FOR THE ELDERLY AND DISABLED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Renee Elvis Board Member | Trustee | 2 | $0 |
Robert Edge Jr President | Trustee | 5 | $0 |
Michael Hodge Board Member | Trustee | 2 | $0 |
Nathel Moody Board Member | Trustee | 2 | $0 |
Donna Weiskircher Secretary Tr | Trustee | 2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,015,967 |
| 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 | $3,015,967 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,309,064 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $195,036 |
| Payroll taxes | $163,460 |
| Fees for services: Management | $168,328 |
| Fees for services: Legal | $358 |
| Fees for services: Accounting | $21,780 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,349 |
| Advertising and promotion | $3,591 |
| Office expenses | $389,461 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $367,315 |
| Travel | $7,089 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,061 |
| Interest | $606,917 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $540,444 |
| Insurance | $91,401 |
| All other expenses | $0 |
| Total functional expenses | $3,887,352 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,143 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $121,499 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,610 |
| Prepaid expenses and deferred charges | $19,985 |
| Net Land, buildings, and equipment | $9,836,758 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $476,498 |
| Other assets | $21,912 |
| Total assets | $10,489,405 |
| Accounts payable and accrued expenses | $835,526 |
| Grants payable | $0 |
| Deferred revenue | $98,796 |
| 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 | $14,536,921 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $126,875 |
| Total liabilities | $15,598,118 |
| Net assets without donor restrictions | -$5,108,713 |
| 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 | $10,489,405 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Choanoke Area Development Assoc Rich Square, NC | $3,243,319 | $10,393,050 |
Association For Retarded Citizens Housing Development Services Inc Greensboro, NC | $38,855,283 | $9,434,004 |
Twin Rivers Opportunities Inc New Bern, NC | $1,111,953 | $5,873,122 |
John Sparks Manor Inc Union City, GA | $0 | $5,675,234 |
Larry Moore Manor Inc Union City, GA | $0 | $4,277,912 |
Rhg-Afforable Housing Ii Inc Atlanta, GA | $13,550,062 | $7,175,901 |
Broadway Towers Inc Atlanta, GA | $17,531,706 | $3,119,210 |
Partners In Hope Inc Myrtle Beach, SC | $10,489,405 | $3,015,967 |
C O R E Programs Inc Charlotte, NC | $3,904,146 | $3,649,405 |
Santee Lynches Affordable Housing And Community Development Corp Sumter, SC | $22,034,704 | $3,598,391 |
Clairmont Oaks Inc Decatur, GA | $12,058,022 | $3,642,909 |
Campbell-Stone North Apartments Inc Atlanta, GA | $5,676,706 | $3,972,920 |