Beacon Of Hope Services
- Assets
- $408.7k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 8
- Location
- Marshall, NC
- Founding
- 04/2001
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Beacon Of Hope Services generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $906.9k during the year ending 12/2021. While expenses have increased by 4.6% per year over the past 7 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
2021
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 - 10,323 (24,241 INDIVIDUALS) POUNDS OF FOOD DISTRIBUTED - 479,130 DONATION-BASED THRIFT STORE: OUR THRIFT STORE, WHICH PROVIDES A SIGNIFICANT SOURCE OF REVENUE, OPERATED UNDER REDUCED HOURS THROUGH JUNE 2022, DUE TO A RESURGENCE IN COVID CASES IN OUR AREA.
THRIFT STORE ASSISTANCE: FAMILIES SERVED-53 (159 INDIVIDUALS, PROVIDING $1,403 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: 37 MEMBER CREDITS AWARDED: $3,873.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessi Koontz Executive Director | OfficerTrustee | 40 | $36,200 |
Barbara Stone Secretary | OfficerTrustee | 1 | $8,400 |
Bill Eckstadt Board Chairman | OfficerTrustee | 1 | $0 |
Sidney Mashburn Treasurer | OfficerTrustee | 1 | $0 |
Sherri Davis Board Member | Trustee | 1 | $0 |
Deanna Stephens Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $25,864 |
| All other contributions, gifts, grants, and similar amounts not included above | $938,483 |
| Noncash contributions included in lines 1a–1f | $726,831 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $964,347 |
| 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 | $53,984 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,018,774 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $737,752 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $36,200 |
| Compensation of current officers, directors, key employees. | $3,620 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,889 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,434 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,400 |
| Advertising and promotion | $35 |
| Office expenses | $4,374 |
| Information technology | $3,158 |
| Royalties | $0 |
| Occupancy | $30,187 |
| Travel | $3,963 |
| 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 | $3,857 |
| Insurance | $5,016 |
| All other expenses | $0 |
| Total functional expenses | $906,872 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $292,673 |
| 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 | $95,155 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $408,709 |
| Accounts payable and accrued expenses | $6,689 |
| 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 | $6,689 |
| Net assets without donor restrictions | $222,232 |
| Net assets with donor restrictions | $179,788 |
| 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 | $408,709 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Beacon Of Hope Services has recieved totaling $901,633.
| Awarding Organization | Amount |
|---|---|
Manna Food Bank Inc Asheville, NC PURPOSE: FOOD DISTRIBUTION | $867,524 |
The Conservation Fund A Nonprofit Corporation Arlington, VA PURPOSE: CONSERVATION OF NATURAL RESOURCES;SUSTAINABLE ECONOMIC & COMMUNITY DEVELOPMENT | $15,000 |
Pisgah Health Foundation Brevard, NC PURPOSE: FOOD RESOURCE | $10,000 |
The Community Foundation Of Western North Carolina Inc Asheville, NC PURPOSE: ASSISTING PEOPLE IN NEED | $8,997 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $112 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Monarch Albemarle, NC | $37,536,351 | $92,387,705 |
Lutheran Family Services Of Virginia Inc Roanoke, VA | $21,862,417 | $39,175,791 |
Lutheran Family Services In The Carolinas Inc Salisbury, NC | $8,144,497 | $24,137,672 |
Jewish Family & Career Services Inc Atlanta, GA | $12,287,389 | $17,564,180 |
Clayton County Community Services Authority Inc Forest Park, GA | $3,675,143 | $13,405,367 |
Family Resource Agency Inc Cleveland, TN | $1,737,951 | $12,329,517 |
Agape Child And Family Services Inc Memphis, TN | $4,822,758 | $10,716,983 |
Family Service Of The Piedmont Inc Jamestown, NC | $2,937,225 | $9,785,018 |
Murphy-Harpst Childrens Centers Inc Cedartown, GA | $8,054,234 | $10,353,326 |
Family And Childrens Service Nashville, TN | $12,864,767 | $8,385,396 |
Safe Alliance Inc Charlotte, NC | $10,001,861 | $8,368,823 |
Families First Inc Atlanta, GA | $16,902,074 | $9,104,630 |