Beacon Of Hope Services
- Assets
- $494.9k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 8
- Location
- Marshall, NC
- Founding
- 04/2001
- Data as of
- 12/2022
- EIN
- 56-2241353
Organization Overview
Beacon Of Hope Services is located in Marshall, NC. The organization was established in 2001. According to its NTEE Classification (P40) the organization is classified as: Family Services, under the broad grouping of Human Services and related organizations. As of 12/2022, Beacon Of Hope Services employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Beacon Of Hope Services 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 12/2022, Beacon Of Hope Services generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $1.3m during the year ending 12/2022. While expenses have increased by 11.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
BEACON OF HOPE SERVES RESIDENTS OF MADISON AND SURROUNDING COUNTIES BY PROVIDING FOOD, EMERGENCY ASSISTANCE, A LOW-COST THRIFT STORE, AND ADVOCACY TO THOSE IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BEACON OF HOPE SERVICES IS A NON-PROFIT ORGANIZATION OFFERING FOOD AND EMERGENCY ASSISTANCE TO LOW INCOME FAMILIES AND INDIVIDUALS IN MADISON AND SURROUNDING COUNTIES: HUNGER RELIEF: FAMILIES SERVED - 10,374 (23,095 INDIVIDUALS) POUNDS OF FOOD DISTRIBUTED - 531,814 DONATION-BASED THRIFT STORE: THRIFT STORE ASSISTANCE: FAMILIES SERVED-55 (162 INDIVIDUALS, PROVIDING $1,850 WORTH OF ASSISTANCE.
MADISON COMMUNITY MARKET: OFFERS A LOW-COST RETAIL ALTERNATIVE FOR PERSONAL HYGIENE PRODUCTS, CLEANING SUPPLIES AND OTHER DAILY ESSENTIALS MEMBER CREDIT PROGRAM: OFFERS STORE CREDIT TO LOW-INCOME FAMILIES AND INDIVIDUALS IN EXCHANGE FOR COMMUNITY ENGAGEMENT. ENROLLED MEMBERS: 24 MEMBER CREDITS AWARDED: $5,618.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessi Koontz Executive Director | OfficerTrustee | 40 | $40,000 |
Robert A Clifford Board Chairman | OfficerTrustee | 10 | $0 |
Sidney Mashburn Treasurer | OfficerTrustee | 2 | $0 |
Janet Spivey Secretary | OfficerTrustee | 7 | $0 |
Carrie Lee Hoffman Board Member | Trustee | 1 | $0 |
Jeff Johnson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $1,135 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,971 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,278,730 |
| Noncash contributions included in lines 1a–1f | $1,063,859 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,296,836 |
| Total Program Service Revenue | $0 |
| 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 | $45,795 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,342,942 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,086,180 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $40,000 |
| Compensation of current officers, directors, key employees. | $4,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $45,625 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,130 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $285 |
| Fees for services: Accounting | $10,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $85 |
| Office expenses | $5,961 |
| Information technology | $5,376 |
| Royalties | $0 |
| Occupancy | $36,572 |
| Travel | $3,456 |
| 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 | $4,255 |
| Insurance | $6,508 |
| All other expenses | $0 |
| Total functional expenses | $1,257,199 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $392,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $20,881 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $82,054 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $494,935 |
| Accounts payable and accrued expenses | $7,172 |
| 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 | $7,172 |
| Net assets without donor restrictions | $184,478 |
| Net assets with donor restrictions | $303,285 |
| 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 | $494,935 |