Reignite Hope
- Assets
- $1.2m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 6
- Location
- San Pedro, CA
- Founding
- 03/2017
- Data as of
- 09/2022
- EIN
- 81-3244816
Organization Overview
Reignite Hope is located in San Pedro, CA. The organization was established in 2017. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. As of 09/2023, Reignite Hope employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reignite Hope 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 09/2022, Reignite Hope generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 32.2% each year . All expenses for the organization totaled $623.1k during the year ending 09/2022. 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
RESTORING HOPE AND DIGNITY TO FORMER GANG MEMBERS, EX-OFFENDERS AND THE HOMELESS BY TEACHING THEM JOB SKILLS FOR A CAREER IN WELDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
160 STUDENTS GRADUATED FROM THE PROGRAM, ALL ARE CERTIFIED BY THE AMERICAN WELDING SOCIETY (AWS) AND ALL THEIR NAMES APPEAR IN THE AWS NATIONAL REGISTRY OF CERTIFIED WELDERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve D Bunyard President/direc | OfficerTrustee | 40 | $109,135 |
Max Youell Director | Trustee | 2 | $0 |
William Duncan Chairman | OfficerTrustee | 10 | $0 |
David Wendorff Treasurer | OfficerTrustee | 2 | $0 |
Hoon Dokko Secretary | Trustee | 2 | $0 |
Joe Handley Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,065,529 |
| Investment income | $663 |
| 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 | $1,069,913 |
| Statement of Expenses | |
|---|---|
| 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. | $92,516 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $202,030 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $24,455 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,002 |
| Fees for services: Accounting | $8,495 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $5,835 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,250 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $76,845 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,876 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,504 |
| Insurance | $43,562 |
| All other expenses | $0 |
| Total functional expenses | $623,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $224,192 |
| Savings and temporary cash investments | $819,263 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,159 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,206,360 |
| Accounts payable and accrued expenses | $0 |
| 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 | $38,472 |
| Total liabilities | $38,472 |
| Net assets without donor restrictions | $1,167,888 |
| 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 |
| Total liabilities and net assets/fund balances | $1,167,888 |