Path Of Hope Inc
- Assets
- $820.1k
- Revenue
- $1.6m
- Investments
- $7.4k
- Employees
- 44
- Location
- Lexington, NC
- Founding
- 07/1977
- Data as of
- 06/2024
- EIN
- 56-1134544
Organization Overview
Path Of Hope Inc is located in Lexington, NC. The organization was established in 1977. According to its NTEE Classification (F22) the organization is classified as: Substance Abuse Treatment, under the broad grouping of Mental Health & Crisis Intervention and related organizations. As of 06/2024, Path Of Hope Inc employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Path Of Hope 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 06/2024, Path Of Hope Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $1.4m during the year ending 06/2024. While expenses have increased by 6.8% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
SUBSTANCE ABUSE TREATMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUBSTANCE ABUDE TREATMENT. TOTAL OF 12,262 DAYS WERE SERVED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Clarke Board Member | Trustee | 0 | $0 |
Venessa Obie Board Member | Trustee | 0 | $0 |
Frankie Young Board Member | Trustee | 0 | $0 |
Lynn Kennedy Board Member | Trustee | 40 | $0 |
Michael Beck Board Member | Trustee | 0 | $0 |
Rodney Trogdon Vice Chairperson | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $19,499 |
| All other contributions, gifts, grants, and similar amounts not included above | $156,698 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $176,197 |
| Total Program Service Revenue | $1,327,459 |
| Investment income | $161 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,920 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,561,033 |
| 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 | $792,610 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $65,960 |
| Payroll taxes | $60,636 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,769 |
| 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 | $12,640 |
| Information technology | $9,037 |
| Royalties | $0 |
| Occupancy | $60,826 |
| Travel | $36,566 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $15,801 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $40,610 |
| Insurance | $46,301 |
| All other expenses | $71,527 |
| Total functional expenses | $1,429,507 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $111,086 |
| Savings and temporary cash investments | $1,203 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $104,510 |
| 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 | $595,896 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,436 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $820,131 |
| Accounts payable and accrued expenses | $6,267 |
| 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 | $298,933 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $94,799 |
| Total liabilities | $399,999 |
| Net assets without donor restrictions | $412,696 |
| Net assets with donor restrictions | $7,436 |
| 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 | $820,131 |