Hope Renovations
- Assets
- $709.1k
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 17
- Location
- Chapel Hill, NC
- Founding
- 02/2019
- Data as of
- 06/2023
- EIN
- 82-3675207
Organization Overview
Hope Renovations is located in Chapel Hill, 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 06/2023, Hope Renovations employed 17 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 06/2023, Hope Renovations generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 47.8% each year . All expenses for the organization totaled $1.4m during the year ending 06/2023. While expenses have increased by 42.4% per year over the past 3 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
2023
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 - DURING FYE 06/30/2023,WE TRAINED 22 WOMEN AND NONBINARY FOLKS. 73% OF THOSE WENT INTO JOBS OR CONTINUING EDUCATION IN THE TRADES.
WOMEN'S TRADES TRAINING PROGRAM - DURING FYE 06/30/2023,WE TRAINED 22 WOMEN AND NONBINARY FOLKS. 73% OF THOSE WENT INTO JOBS OR CONTINUING EDUCATION IN THE TRADES.
AGING IN PLACE CONSTRUCTION PROGRAM - DURING FYE 06/30/2023, THE CONSTRUCTION PROGRAM COMPLETED 54 JOBS RANGING IN SIZE FROM SMALL GRAB BAR INSTALLATIONS AND SAFETY MODIFICATIONS TO LARGE BATHROOM RENOVATIONS. 75% OF HOUSEHOLDS SERVED WERE 55+ AND/OR DISABLED.
AGING IN PLACE CONSTRUCTION PROGRAM - DURING FYE 06/30/2023, THE CONSTRUCTION PROGRAM COMPLETED 54 JOBS RANGING IN SIZE FROM SMALL GRAB BAR INSTALLATIONS AND SAFETY MODIFICATIONS TO LARGE BATHROOM RENOVATIONS. 75% OF HOUSEHOLDS SERVED WERE 55+ AND/OR DISABLED.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nora E Spencer CEO | OfficerTrustee | 60 | $98,269 |
Leah Adeniji Director | Trustee | $0 | |
Claire Coffey Director/tre | OfficerTrustee | $0 | |
Cindy Covington Director | Trustee | $0 | |
Alaina Garman Director | Trustee | $0 | |
Jennifer Hoffman Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $276,493 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,299,313 |
| Noncash contributions included in lines 1a–1f | $36,131 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,575,806 |
| Total Program Service Revenue | $315,960 |
| Investment income | $25 |
| 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 | $1,896,731 |
| 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. | $98,269 |
| Compensation of current officers, directors, key employees. | $78,615 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $651,424 |
| Pension plan accruals and contributions | $16,859 |
| Other employee benefits | $69,343 |
| Payroll taxes | $52,580 |
| Fees for services: Management | $10,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,929 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $93,644 |
| Advertising and promotion | $1,438 |
| Office expenses | $13,117 |
| Information technology | $9,929 |
| Royalties | $0 |
| Occupancy | $54,854 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,636 |
| Interest | $3,356 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,600 |
| Insurance | $74,699 |
| All other expenses | $41,464 |
| Total functional expenses | $1,400,275 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $109,406 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $559,697 |
| 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 | $1,615 |
| Net Land, buildings, and equipment | $12,674 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $467 |
| Other assets | $25,266 |
| Total assets | $709,125 |
| Accounts payable and accrued expenses | $27,513 |
| 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 | $8,447 |
| Other liabilities | $58,727 |
| Total liabilities | $94,687 |
| Net assets without donor restrictions | $614,438 |
| 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 | $709,125 |