Hope Renovations
- Assets
- $248.4k
- Revenue
- $351.6k
- Investments
- $0.0
- Employees
- 7
- Location
- Carrboro, NC
- Founding
- 02/2019
- Data as of
- 06/2021
- EIN
- 82-3675207
Organization Overview
Hope Renovations is located in Carrboro, NC. The organization was established in 2019. According to its NTEE Classification (J20) the organization is classified as: Employment Preparation & Procurement, under the broad grouping of Employment and related organizations. As of 06/2021, Hope Renovations employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Renovations 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 06/2021, Hope Renovations generated $351.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (22.7%) each year. All expenses for the organization totaled $354.2k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (14.6%) per year over the past 2 years. 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
WE INSPIRE HOPE IN WOMEN AND SENIORS FOR A JOYFUL AND FULFILLING FUTURE. WE DO THIS BY EMPOWERING WOMEN TO PURSUE LIVING-WAGE JOBS IN THE CONSTRUCTION TRADES VIA OUR HANDS-ON TRAINING PROGRAM, AND BY PROVIDING REPAIRS AND RENOVATIONS THAT ENABLE OLDER ADULTS TO STAY IN THEIR HOMES AS THEY AGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WOMEN'S TRADES TRAINING PROGRAM - FOR THE FIRST SIX MONTHS OF 2021,WE TRAINED 18 WOMEN AND NONBINARY FOLKS. 78% OF THOSE WENT INTO JOBS OR CONTINUING EDUCATION IN THE TRADES.
AGING IN PLACE CONSTRUCTION PROGRAM - FOR THE FIRST SIX MONTHS OF 2021, WE COMPLETED 48 JOBS RANGING FROM SMALL JOBS (I.E. GRAB BAR INSTALLATION) TO LARGE JOBS (I.E. TUB-TO-SHOWER CONVERSION). 84% OF THOSE ASSISTED WERE 55+ AND/OR DISABLED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nora E Spencer CEO And Chair | Officer | 60 | $60,000 |
Miles M Fitch III Treasurer | Trustee | 3 | $0 |
Camille Berry Director | Trustee | 2 | $0 |
Alaina Garman Director | Trustee | 2 | $0 |
Sarah Marsh Director | Trustee | 2 | $0 |
Brian Spencer Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $892 |
| Related organizations | $0 |
| Government grants | $73,134 |
| All other contributions, gifts, grants, and similar amounts not included above | $190,140 |
| Noncash contributions included in lines 1a–1f | $29,425 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $264,166 |
| Total Program Service Revenue | $85,940 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $351,606 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $32,400 |
| Compensation of current officers, directors, key employees. | $22,680 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $155,045 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,339 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,094 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,259 |
| Advertising and promotion | $551 |
| Office expenses | $18,176 |
| Information technology | $341 |
| Royalties | $0 |
| Occupancy | $16,955 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | -$35 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,898 |
| Insurance | $4,430 |
| All other expenses | $0 |
| Total functional expenses | $354,193 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $127,790 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $93,411 |
| 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 | $27,180 |
| Total assets | $248,381 |
| Accounts payable and accrued expenses | $18,649 |
| 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 | $93,575 |
| Other liabilities | $0 |
| Total liabilities | $112,224 |
| Net assets without donor restrictions | $136,157 |
| 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 | $248,381 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hope Renovations has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Chapel Hill Residential Retirement Center Inc Chapel Hill, NC PURPOSE: HOME RENOVATIONS FOR SENIORS | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Opportunities Industrialization Center Inc Rocky Mount, NC | $10,127,019 | $21,768,634 |
Skills Usa Inc Leesburg, VA | $8,575,895 | $14,271,991 |
Southeast Community Capital Corporation Nashville, TN | $264,396,878 | $22,555,455 |
Northern Middle Tennessee Local Workforce Development Board Inc Clarksville, TN | $2,905,431 | $10,764,896 |
Workforce Essentials Inc Clarksville, TN | $30,139,027 | $9,106,360 |
Jobs For Americas Graduates Inc Alexandria, VA | $6,705,273 | $5,268,108 |
Hopeworks Inc Memphis, TN | $4,848,945 | $4,530,631 |
Employees Of Home Federal Bank Of Tennessee F S B Trust Knoxville, TN | $1,040,869 | $3,607,564 |
Women Giving Back Inc Sterling, VA | $2,386,009 | $4,473,186 |
Upper Cumberland Local Workforce Development Board Inc Cookeville, TN | $601,122 | $3,404,539 |
Employment Resources Inc Fredericksburg, VA | $8,098,852 | $3,260,253 |
Virginia Ready Initiative Alexandria, VA | $7,826,033 | $1,469,381 |