Hope Mission Thrift Store Inc
- Assets
- $118.4k
- Revenue
- $404.0k
- Investments
- $0.0
- Employees
- 14
- Location
- Morehead City, NC
- Founding
- 04/2016
- Data as of
- 12/2021
- EIN
- 81-0986427
Organization Overview
Hope Mission Thrift Store Inc is located in Morehead City, NC. The organization was established in 2016. According to its NTEE Classification (P29) the organization is classified as: Thrift Shops, under the broad grouping of Human Services and related organizations. As of 12/2021, Hope Mission Thrift Store Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Mission Thrift Store 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 12/2021, Hope Mission Thrift Store Inc generated $404.0k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 34.1% each year . All expenses for the organization totaled $361.8k during the year ending 12/2021. While expenses have increased by 38.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FUNDING SUPPORT TO HOPE MISSION
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021 THE THRIFT STORE HELPED 84 FAMILIES WITH FREE CLOTHING, FURNITURE, AND HOUSEHOLD GOODS THROUGH THE THRIFT STORE MINISTRY AND GAVE $50,000 TO THE HOPE MISSION FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Garner Secretary | OfficerTrustee | 5 | $0 |
Charlton Burns Treasurer | OfficerTrustee | 5 | $0 |
Stephen Sullivan President | OfficerTrustee | 5 | $0 |
Rich Moreau Vice President | OfficerTrustee | 5 | $0 |
Jeff Baran Director | Trustee | 5 | $0 |
Tim Wilson Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,248 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,248 |
| Total Program Service Revenue | $382,785 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $404,033 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| 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 | $178,211 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,691 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $107 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $704 |
| Office expenses | $3,149 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $39,393 |
| 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 | $0 |
| Insurance | $13,557 |
| All other expenses | $688 |
| Total functional expenses | $361,846 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $118,437 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $118,437 |
| Accounts payable and accrued expenses | $11,250 |
| 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 | $11,250 |
| Net assets without donor restrictions | $107,187 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $118,437 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hope Mission Thrift Store Inc has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Memphis Goodwill Inc Memphis, TN | $14,007,332 | $45,591,658 |
Atlanta Union Mission Corporation Hcsr Atlanta, GA | $60,885,484 | $20,504,830 |
Atlanta Heights Charter School Inc Atlanta, GA | $3,131,172 | $9,104,979 |
Guardian Angel Thrift Fuquay Varina, NC | $1,635,752 | $2,673,935 |
Chatham Pta Thrift Shop Inc Siler City, NC | $1,001,947 | $1,744,375 |
East Cooper Home Store Inc Mount Pleasant, SC | $431,257 | $1,756,791 |
Seeds Of Mustard Ministries Corporation Cary, NC | $918,004 | $1,738,508 |
American Home Furnishings Hall Of Fame Foundation Inc High Point, NC | $6,073,735 | $3,252,692 |
Stafford Emergency Relief Through Volunteer Efforts Of Stafford Coun Stafford, VA | $740,386 | $1,196,359 |
The Clothes Less Traveled Thrift Shop Inc Peachtree City, GA | $1,330,927 | $1,604,886 |
Hand Up Inc Calhoun, GA | $1,679,036 | $1,708,856 |
Closet Of The Greater Herndon Area Inc Herndon, VA | $1,886,516 | $1,181,973 |