Hope Redemption Center
- Assets
- $87.4k
- Revenue
- $339.9k
- Investments
- $0.0
- Employees
- 9
- Location
- Sioux City, IA
- Founding
- Data as of
- 12/2021
- EIN
- 84-4110138
Organization Overview
Hope Redemption Center is located in Sioux City, IA. According to its NTEE Classification (X11) the organization is classified as: Single Organization Support, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Hope Redemption Center employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Redemption Center 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 Redemption Center generated $339.9k 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 (11.0%) each year. All expenses for the organization totaled $318.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.3%) 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
WORKPLACE TRAINING FOR UNEMPLOYED AND UNDEREMPLOYEED INDIVIDUALS AT A CAN REDEMPTION CENTER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAN REDEMPTION CENTER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Negaard President | OfficerTrustee | 2 | $0 |
Rachelle Karstens Treasurer | OfficerTrustee | 1 | $0 |
Mike Clausen Director | Trustee | 10 | $0 |
Ken Dubois Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,994 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,494 |
| Total Program Service Revenue | $298,438 |
| 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 | $339,932 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| 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 | $48,463 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,807 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $164 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,116 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,253 |
| 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 | $521 |
| Insurance | $8,639 |
| All other expenses | $0 |
| Total functional expenses | $318,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,776 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,147 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $100 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $6,779 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $30,580 |
| Other assets | $0 |
| Total assets | $87,382 |
| Accounts payable and accrued expenses | $28 |
| 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 | $28 |
| Net assets without donor restrictions | $0 |
| 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 | $87,354 |
| Total liabilities and net assets/fund balances | $87,382 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hope Redemption Center has recieved totaling $10,980.
| Awarding Organization | Amount |
|---|---|
Missouri River Historical Develop- Ment Inc Sioux City, IA PURPOSE: PURCHASE GLASS CRUSHER & 2 TRAILERS | $10,980 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Agate Housing And Services Inc Minneapolis, MN | $17,135,849 | $18,145,205 |
The First Spoke Foundation Chicago, IL | $10,124,413 | $552,668 |
Catholic Foundation For The Archdiocese Of Dubuque Cedar Rapids, IA | $127,453,113 | $10,700,862 |
St Joseph Real Estate Services Corporation Green Bay, WI | $9,099,106 | $3,700,773 |
Bible League Foundation Crete, IL | $15,182,240 | $1,097,305 |
Chicago Southwest Development Corporation Chicago, IL | $14,735,476 | $67,891 |
Religion News Foundation Columbia, MO | $2,784,139 | $2,640,609 |
Calvin B Beach Trust 01-13620 Po Box Chicago, IL | $5,695,051 | $2,192,787 |
Know The Truth Ministries Inc Chanhassen, MN | $269,842 | $2,371,086 |
City On A Hill Inc Milwaukee, WI | $1,825,972 | $1,822,673 |
Olive Tree Ministries Maple Grove, MN | $7,814,889 | $4,185,907 |
Herzl Camp Foundation St Louis Park, MN | $6,175,107 | $1,858,323 |