Restore Hope Ministries Inc
- Assets
- $6.6m
- Revenue
- $50.9m
- Investments
- $753.1k
- Employees
- 16
- Location
- Tulsa, OK
- Founding
- 06/1971
- Data as of
- 06/2022
- EIN
- 73-1037026
Organization Overview
Restore Hope Ministries Inc is located in Tulsa, OK. The organization was established in 1971. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 06/2022, Restore Hope Ministries Inc employed 16 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Restore Hope Ministries 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 06/2022, Restore Hope Ministries Inc generated $50.9m in total revenue. All expenses for the organization totaled $50.4m during the year ending 06/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RESTORE HOPE MINISTRIES WAS ESTABLISHED AS A RESPONSE TO THE GROWING NEED FOR EMERGENCY ASSISTANCE TO FAMILIES FACING A FINANCIAL CRISIS. OUR MISSION IS TO RESTORE FAMILIES IN FINANCIAL CRISIS TO ECONOMIC AND SPIRITUAL VITALITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HUNGER REDUCTION: ONE IN FOUR CHILDREN IN TULSA COUNTY DO NOT KNOW WHEN THEY WILL EAT AGAIN. THIS IS SOMETHING RESTORE HOPE IS COMMITTED TO CHANGE. LAST YEAR, RESTORE HOPE MINISTRIES DISTRIBUTED 159,593 POUNDS OF NUTRITIOUS GROCERIES TO HELP 653 FAMILIES FIGHT HUNGER BY PUTTING FOOD ON THE TABLE FOR THEMSELVES AND THEIR FAMILIES. IN RESPONSE TO THE COVID-19 PANDEMIC, WE SHIFTED OUR FOOD PROGRAM TO PROVIDE A CONTACTLESS PROCESS. WE FOUND THAT 70% OF OUR CLIENTS DURING THAT TIME WERE NEW TO OUR PROGRAM AT THAT LOCATION.
HOMELESS PREVENTION: RESTORE HOPE MINISTRIES' HOMELESS PREVENTION INITIATIVE PROVIDED RENT AND UTILITY ASSISTANCE FOR INDIVIDUALS AND FAMILIES AT RISK OF BECOMING HOMELESS. THE AGENCY OFFERS EMERGENCY RENT AND UTILITY ASSISTANCE FOR ELIGIBLE FAMILIES ACCORDING TO GRANT GUIDELINES. AS A RESULT OF THE ECONOMIC IMPACT OF COVID-19, MANY MORE PEOPLE WERE FACING EVICTION AS A RESULT OF INCOME LOSS AND SOME HAD SIGNIFICANT AMOUNTS OF RENT DUE. AS A RESULT, OUR COMMUNITY ASKED RESTORE HOPE TO GREATLY EXPAND OUR PROGRAM AGAIN. AS A RESULT, RESTORE HOPE WAS ABLE TO PREVENT HOMELESSNESS FOR OVER 10,903 FAMILIES IN THIS FISCAL YEAR, A 283% INCREASE OVER THE PREVIOUS YEAR AND 2,400% HIGHER THAN PRE-COVID NUMBERS.
HOPE PROMOTION: WHEN A CRISIS STRIKES, MORE THAN JUST ONE'S PHYSICAL WELL-BEING IS IMPACTED. THE CRISIS ITSELF CAN BE EMOTIONALLY DAMAGING BUT THE FACT THAT ONE MUST SEEK AID ALSO AFFECTS ONE'S SENSE OF WORTH. BECAUSE OF THE COVID-19 PANDEMIC, WE HAD TO SHUT DOWN OUR IN-PERSON SERVICES FOR SAFETY BUT WE SHIFTED OUR PROGRAM TO PROVIDE ONLINE DEVOTIONS. WHILE EXACT NUMBERS ARE DIFFICULT TO TRACK AS A RESULT, OUR CHAPEL MINISTRY POSTS ON SOCIAL MEDIA REACHED 28,825 PEOPLE ON FACEBOOK AND INSTAGRAM (@RHMTULSA).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robyn Aydelott Vice-President | OfficerTrustee | 1 | $0 |
Rev Connie Gibson District Superintendent | Trustee | 1 | $0 |
Mary Hale President | OfficerTrustee | 4 | $0 |
Rev Andy Henson Past President | OfficerTrustee | 1 | $0 |
Craig Hoster At Large Member | Trustee | 0 | $0 |
Rev Jeffry Jaynes Executive Director | OfficerTrustee | 50 | $75,923 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Nan Mckay And Associates Inc Contract Processing | 6/29/22 | $2,114,834 |
Tulsa Dream Center Housing Stability | 6/29/22 | $154,500 |
Center For Housing Solutions Housing Stability | 6/29/22 | $388,823 |
Catholic Charities Of Eastern Oklahoma Housing Stability | 6/29/22 | $225,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $54,214 |
| Government grants | $48,402,257 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,325,368 |
| Noncash contributions included in lines 1a–1f | $319,715 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,781,839 |
| Total Program Service Revenue | $0 |
| Investment income | $25,393 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $45,220 |
| Net Income from Fundraising Events | $20,924 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $50,873,376 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $48,378,078 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $76,651 |
| Compensation of current officers, directors, key employees. | $49,823 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $276,668 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $89,786 |
| Payroll taxes | $19,087 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35 |
| Fees for services: Accounting | $629 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $789,371 |
| Advertising and promotion | $0 |
| Office expenses | $514,726 |
| Information technology | $141,432 |
| Royalties | $0 |
| Occupancy | $28,251 |
| 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 | $11,897 |
| Insurance | $14,401 |
| All other expenses | $0 |
| Total functional expenses | $50,401,526 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,065,580 |
| Savings and temporary cash investments | $214,257 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,265,476 |
| 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 | $14,562 |
| Net Land, buildings, and equipment | $273,778 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $753,077 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,586,730 |
| Accounts payable and accrued expenses | $169,862 |
| Grants payable | $0 |
| Deferred revenue | $1,413,107 |
| 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 | $2,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,582,969 |
| Net assets without donor restrictions | $2,148,641 |
| Net assets with donor restrictions | $855,120 |
| 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 | $6,586,730 |