Hopes Closet
- Assets
- $266.6k
- Revenue
- $381.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Cincinnati, OH
- Founding
- 12/2015
- Data as of
- 08/2021
- EIN
- 47-3922125
Organization Overview
Hopes Closet is located in Cincinnati, OH. The organization was established in 2015. According to its NTEE Classification (P32) the organization is classified as: Foster Care, under the broad grouping of Human Services and related organizations. As of 08/2021, Hopes Closet employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hopes Closet 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 08/2021, Hopes Closet generated $381.5k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 53.2% each year . All expenses for the organization totaled $368.7k during the year ending 08/2021. 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
HOPE'S CLOSET IS A FOSTER CARE SUPPORT ORGANIZATION THAT PROVIDES CRITICAL SERVICES THROUGH A CLOTHING BOUTIQUE, TRAINING CLASSES, SUPPORT GROUPS, FAMILY EVENTS, AND THE RECRUITMENT OF FOSTER PARENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED CLOTHING AND OTHER RESOURCES TO FOSTER AND KINSHIP CHILDREN, AS WELL AS CRITICAL SUPPORT SERVICES FOR THE RECRUITMENT AND RETENTION OF FOSTER PARENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jami Clarke Executive Director | OfficerTrustee | $59,882 | |
Erika Kalnai Board Chair | OfficerTrustee | $0 | |
Melanie Bauer Vice Chair | OfficerTrustee | $0 | |
Matt Wieland Treasurer | OfficerTrustee | $0 | |
Valerie Schatzke Secretary | OfficerTrustee | $0 | |
Rick Vogsberger Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $13,268 |
| Related organizations | $0 |
| Government grants | $257,582 |
| All other contributions, gifts, grants, and similar amounts not included above | $110,610 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $381,460 |
| Total Program Service Revenue | $0 |
| Investment income | $1 |
| 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 | $381,461 |
| 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 | $158,101 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,177 |
| Office expenses | $7,218 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $122,744 |
| 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 | $0 |
| Insurance | $3,570 |
| All other expenses | $22,475 |
| Total functional expenses | $368,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $228,582 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,186 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,836 |
| Total assets | $266,604 |
| Accounts payable and accrued expenses | $8,582 |
| 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 | $8,582 |
| 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 | $258,022 |
| Total liabilities and net assets/fund balances | $266,604 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Hopes Closet has recieved totaling $23,266.
| Awarding Organization | Amount |
|---|---|
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $21,166 |
Foster Family Private Foundation Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $2,000 |
The Duke Energy Foundation Charlotte, NC PURPOSE: MATCHING GIFTS | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Benchmark Family Services Inc New Carlisle, OH | $16,084,434 | $54,436,387 |
Ena Incorporated Lexington, KY | $23,141,386 | $43,153,928 |
Bair Foundation New Wilmington, PA | $2,726,710 | $26,265,407 |
Specialized Alternatives For Families And Youth Of Ohio Inc Delphos, OH | $2,018,463 | $21,842,941 |
Bair Foundation Of Pennsylvania New Wilmington, PA | $4,400,305 | $17,358,075 |
Ennis Center For Children Inc Flint, MI | $5,584,723 | $17,419,199 |
Specialized Alternatives For Families And Youth Of Kentucky Inc Lexington, KY | $1,516,940 | $14,842,351 |
Spaulding For Children Southfield, MI | $7,623,371 | $10,216,119 |
Bair Foundation Of Texas New Wilmington, PA | $1,144,889 | $8,905,447 |
Tabor Childrens Services Inc Philadelphia, PA | $5,265,944 | $8,132,394 |
Cadence Care Network Niles, OH | $3,603,274 | $7,911,630 |
Ohio Teaching-Family Association Swanton, OH | $1,062,390 | $6,784,090 |