Hope Of Glory Ministries Inc
- Assets
- $1.2m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 32
- Location
- Greenville, NC
- Founding
- 09/2001
- Data as of
- 12/2023
- EIN
- 31-1766003
Organization Overview
Hope Of Glory Ministries Inc is located in Greenville, NC. The organization was established in 2001. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 12/2023, Hope Of Glory Ministries Inc employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Of Glory Ministries 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, Hope Of Glory Ministries Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 12.6% each year . All expenses for the organization totaled $929.8k during the year ending 12/2023. While expenses have increased by 8.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HOPE OF GLORY MINISTRIES IS COMMITTED TO SHARING THE GOSPEL OF JESUS CHRIST, RELIEVING BURDENS, AND EMPOWERING FAMILIES TOWARDS LASTING CHANGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY OUTLET: A "THRIFT LIKE" STORE, RECEIVING DONATED ITEMS FROM OVER 1,500 COMMUNITY SUPPORTERS. THE STORE OFFERS OUR COMMUNITY AND CO-OP FAMILIES MORE AFFORDABLE CLOTHING, HOUSEHOLD, AND FURNITURE OPTIONS FOR THEIR HOMES. THIS THRIFT STORE PROVIDES 12-15 JOBS AND OCCASIONAL WORKFORCE DEVELOPMENT OPPORTUNITIES EACH YEAR. VOLUNTEERS SERVE ALONGSIDE OUR THRIFT STORE STAFF TO ENSURE QUALITY CLOTHING OPTIONS AND EXCELLENT CUSTOMER SERVICE.
EMPOWERMENT PROGRAM: CULTIVATING PERSONAL RESPONSIBILITY THROUGH COMMUNITY ACCOUNTABILITY. THIS INNOVATIVE APPROACH TO FOOD DISTRIBUTION HOLISTICALLY SERVES THE ENTIRE FAMILY UNIT BY PROVIDING FINANCIAL MENTORS, FOOD COST SAVINGS, EDUCATIONAL CLASSES, AND REQUIRING A MONTHLY INVESTMENT BY THE FAMILY. MEMBERS REDISTRIBUTE A MONTHLY AVERAGE OF $100-$175 MONEY SAVED TOWARDS DEBT AND SAVINGS. THIS "BUY-IN" MODEL INSTILLS ACCOUNTABILITY, RELIEVES BURDENS AND EMPOWERS LOW-INCOME, WORKING POOR, AND FIXED INCOME FAMILIES TOWARDS FINANCIAL STABILITY.
COMMUNITY SUPPORT: SEEKING TO HELP INDIVIDUALS MOVE FROM BURDENED TO BALANCE IN THREE SPECIFIC WAYS. ONE WAY IS THROUGH EMERGENCY CLOTHING VOUCHERS DISTRIBUTED THROUGH OUR THRIFT STORE AT NO COST TO FAMILIES IN CRISIS. THE SECOND WAY IS OFFERING VARIOUS WORKFORCE DEVELOPMENT OPPORTUNITIES. AND A THIRD WAY IS SUPPORTING OTHER LOCAL MINISTRIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President | OfficerTrustee | 0.5 | $0 |
Name Not Listed Secretary/treasurer | OfficerTrustee | 0.5 | $0 |
Name Not Listed Director | Trustee | 0.3 | $0 |
Name Not Listed Director | Trustee | 0.3 | $0 |
Name Not Listed Director | Trustee | 0.3 | $0 |
Name Not Listed Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,700 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $693,248 |
| Noncash contributions included in lines 1a–1f | $284,972 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $711,948 |
| Total Program Service Revenue | $558,928 |
| Investment income | $96 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$3,076 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,267,896 |
| 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 | $360,842 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $27,843 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,930 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,807 |
| Office expenses | $38,761 |
| Information technology | $2,427 |
| Royalties | $0 |
| Occupancy | $109,866 |
| Travel | $648 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,500 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,785 |
| Insurance | $10,212 |
| All other expenses | $0 |
| Total functional expenses | $929,816 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $504,115 |
| Savings and temporary cash investments | $111,081 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,499 |
| 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 | $6,693 |
| Net Land, buildings, and equipment | $533,345 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,160,733 |
| Accounts payable and accrued expenses | $22,689 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $22,689 |
| Net assets without donor restrictions | $0 |
| 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 | $1,138,044 |
| Total liabilities and net assets/fund balances | $1,160,733 |