Elevate Hope House

Nonprofit profile at a glance

EIN
815282491
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2021
Location
Ramsey, MN, USA
Phone
6122829769
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Official website

Reported finances

Revenue
$424,123
Expenses
$152,004
Assets
$389,338
Liabilities
$641

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • MELINDA M MCDERMOTT (PRESIDENT FO)

Highest reported compensation

  • MELINDA M MCDERMOTT (PRESIDENT FO): $10,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide a safe home and support system for young single moms and their children in crisis to renew, restore, and regain self-worth

What it reported doing in 2024

Elevate hope house had a good year by providing a safe home and support system for five single moms and their children in crisis to renew, restore, and regain self-worth. With plans of expansion, a second home was built by spring lake park hight school in the summer of 2024, and it will be placed on a plot of donated land in hame lake in 2025.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 32
  • Transparency & Controls: 92
  • Accountability: 81
  • Sustainability: 74
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 16.1%; rating input score 16
  • Program expense ratio: 44%; rating input score 44
  • Fundraising efficiency: $41.82 raised per $1 spent on fundraising; rating input score 73; 73rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 64.2%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 2.56; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 55; 55th percentile among comparable filings
  • Officer compensation ratio: 6.6%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 81.1% per year; rating input score 100; 99th percentile among comparable filings
  • Asset growth: 54.6% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 16.1% of revenue deployed · 44% of spending went to programs
  • Governance: 6 of 7 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $67K in reported program spending
  • Leadership: top reported pay $10K · 7 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 16/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 44/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.
  • Review — Sustainability: Liabilities to assets ratio scored 55/100.