Helping Overcome Povertys Existence Inc
- Assets
- $4.2m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 15
- Location
- Wytheville, VA
- Founding
- 03/1993
- Data as of
- 06/2020
- EIN
- 54-1630342
Organization Overview
Helping Overcome Povertys Existence Inc is located in Wytheville, VA. The organization was established in 1993. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 06/2020, Helping Overcome Povertys Existence Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Helping Overcome Povertys Existence 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 06/2020, Helping Overcome Povertys Existence Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $1.6m during the year ending 06/2020. While expenses have increased by 6.5% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
HOPE PROVIDES TOOLS TO BUILD COMMUNITY SUSTAINABILITY AND INDEPENDENCE, SPECIFICALLY BY PROVIDING HOUSING AFFORDABILITY AND FOOD SECURITY ASSISTANCE FOR LOW INCOME RESIDENTS OF THE SERVICE AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOPE INC UTILIZES PUBLIC SUPPORT TO ASSIST, CORDINATE AND DEVELOPE PROGRAMS TO PROVIDE SAFE, WARM AND DRY AFFORDABLE HOUSING FOR LOWER INCOME RESIDENTS IN ITS SERVICE AREA, INCLUDING THE SOUTWESTERN COUNTIES OF BLAND, CARROLL, GRAYSON, SMYTH AND WYTHE AND THE CITY OF GALAX. HOPE ADMINISTERS STATE AND FEDERAL ASSISTANCE AND INTERVENTION PROGRAMS TO PREVENT HOMELESSNESS, PROVIDE RAPID RE-HOUSING AND PERMANENT SUPPORTIVE HOUSING. HOPE ALSO DEVELOPS AFFORDABLE MULTI-FAMILY HOUSING FOR LOWER INCOME AND DISABLED INDIVIDUALS AND PROVIDES HOMEOWNERSHIP OPPORTUNITIES FOR LOW INCOME FAMILIES.
HOPE INC MANAGES TWO FOOD SECURITY PROGRAMS INCLUDING A WEEKLY SCHOOL BACKPACK PROJECT WHICH PROVIDES SUPPLEMENTAL FOOD FOR OVER 800 STUDENTS IN WYTHE AND BLAND COUNTY SCHOOLS. SINCE 2012, HOPE HAS ADMINISTERED A TWICE-A-WEEK WARM LUNCH (SOUP KITCHEN) PROGRAM THROUGH THE COMMUNITY FOOD KITCHEN, WHICH IN 2018 OPENED AS THE OPEN DOOR CAFE, DONATE WHAT YOU CAN RESTAURANT. OPEN DOOR CAFE, LLC IS A WHOLLY OWNED SUBSIDIARY OF HOPE INC.
HOPE OPERATES OTHER CAPACITY BUILDING PROGRAMS OUT OF ITS HOPE MINISTRY CENTER OFFICE FACILITY, PROVIDING OFFICE SPACE TO FOUR OTHER HUMAN SERVICE AGENCIES AND A BOOKKEEPING SERVICE FOR NINE OTHER NON-PROFITS.
HOPE INC UTILIZES PUBLIC SUPPORT TO ASSIST, CORDINATE AND DEVELOPE PROGRAMS TO PROVIDE SAFE, WARM AND DRY AFFORDABLE HOUSING FOR LOWER INCOME RESIDENTS IN ITS SERVICE AREA, INCLUDING THE SOUTWESTERN COUNTIES OF BLAND, CARROLL, GRAYSON, SMYTH AND WYTHE AND THE CITY OF GALAX. HOPE ADMINISTERS STATE AND FEDERAL ASSISTANCE AND INTERVENTION PROGRAMS TO PREVENT HOMELESSNESS, PROVIDE RAPID RE-HOUSING AND PERMANENT SUPPORTIVE HOUSING. HOPE ALSO DEVELOPS AFFORDABLE MULTI-FAMILY HOUSING FOR LOWER INCOME AND DISABLED INDIVIDUALS AND PROVIDES HOMEOWNERSHIP OPPORTUNITIES FOR LOW INCOME FAMILIES.
HOPE INC MANAGES TWO FOOD SECURITY PROGRAMS INCLUDING A WEEKLY SCHOOL BACKPACK PROJECT WHICH PROVIDES SUPPLEMENTAL FOOD FOR OVER 800 STUDENTS IN WYTHE AND BLAND COUNTY SCHOOLS. SINCE 2012, HOPE HAS ADMINISTERED A TWICE-A-WEEK WARM LUNCH (SOUP KITCHEN) PROGRAM THROUGH THE COMMUNITY FOOD KITCHEN, WHICH IN 2018 OPENED AS THE OPEN DOOR CAFE, DONATE WHAT YOU CAN RESTAURANT. OPEN DOOR CAFE, LLC IS A WHOLLY OWNED SUBSIDIARY OF HOPE INC.
HOPE OPERATES OTHER CAPACITY BUILDING PROGRAMS OUT OF ITS HOPE MINISTRY CENTER OFFICE FACILITY, PROVIDING OFFICE SPACE TO FOUR OTHER HUMAN SERVICE AGENCIES AND A BOOKKEEPING SERVICE FOR NINE OTHER NON-PROFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachel Jones Chair | Officer | 3 | $0 |
Jean Farley Secretary | Officer | 2 | $0 |
Harvey Atkinson Vice Chair | Officer | 3 | $0 |
Misty Pack Treasurer | Officer | 2 | $0 |
Regina Alley Member | Trustee | 1 | $0 |
Carolyn Dankowski Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,406,488 |
| Investment income | $661 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $155,541 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $8,751 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$8,377 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,823,719 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $386,299 |
| Pension plan accruals and contributions | $9,801 |
| Other employee benefits | $59,225 |
| Payroll taxes | $32,718 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,211 |
| 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 | $10,189 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,820 |
| Travel | $7,773 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $54,610 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,202 |
| Insurance | $21,382 |
| All other expenses | $0 |
| Total functional expenses | $1,560,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $319,081 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $82,936 |
| 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 | $495,387 |
| Prepaid expenses and deferred charges | $17,777 |
| Investments—publicly traded securities | $59,950 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $177,831 |
| Total assets | $4,167,654 |
| Accounts payable and accrued expenses | $290,522 |
| 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 | $2,327,472 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,185 |
| Total liabilities | $2,646,179 |
| 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 |
| Total liabilities and net assets/fund balances | $1,521,475 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Helping Overcome Povertys Existence Inc has recieved totaling $21,281.
| Awarding Organization | Amount |
|---|---|
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $11,025 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $256 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Housing Counseling Services Inc Washington, DC | $4,430,833 | $16,498,572 |
People Incorporated Housing Group Abingdon, VA | $23,796,045 | $13,192,041 |
New Directions Housing Corporation Louisville, KY | $27,737,851 | $9,868,214 |
Manna Inc Washington, DC | $18,457,194 | $8,787,591 |
Habitat For Humanity International Inc Charlottesville, VA | $30,158,834 | $8,198,441 |
Housing Assistance Council Washington, DC | $50,242,099 | $11,554,116 |
Cedar Lake Residences Inc Louisville, KY | $2,301,086 | $7,918,008 |
Echelon Housing Inc North Bethesda, MD | $23,861,150 | $4,416,757 |
Comprehensive Housing Assistance Inc Baltimore, MD | $35,424,449 | $4,587,920 |
Appalachian Foothills Housing Agency Incorporated Wurtland, KY | $1,707,535 | $4,881,556 |
Neighborhood Capital Corporation Silver Spring, MD | $106,804,353 | $10,287,510 |
Ngena Foundation Washington, DC | $0 | $167 |