Hope at the Lake Foundation

Nonprofit profile at a glance

EIN
201489132
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Mooresville, NC, USA
Phone
4042298264
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Reported finances

Revenue
$242,740
Expenses
$225,603
Assets
$82,266
Liabilities
$0

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

Leadership & pay

4 people listed

Executive titles in this filing

  • FORREST WILSON (PRESIDENT)

People named in this filing

  • FRANK BALDASARE (VICE PRESIDE)
  • CAROLINE DEWITT (SECRETARY/SO)
  • LAURA GARRISON (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Hope at the lake is a 501(c)(3) non-profit organization committed to improving the lives of our lake norman neighbors in need. Our mission is to facilitate a "community of caring" by connecting compassionate donors with immediate community need.

What it reported doing in 2024

Support children in the community; helping with food and hygiene needs, loss of a loved one, parenting gaps and medical issues

Operating model

Revenue model
Other-operating. 87% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 86
  • Accountability: 64
  • Sustainability: 49
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.8%; rating input score 83
  • Program expense ratio: 89.1%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 85.1%; rating input score 85; 50th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.1%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 0.36; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 31.7% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: -3.9% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: -4.6% per year; rating input score 0; 11th percentile among comparable filings

Details

  • Where the money goes: 82.8% of revenue deployed · 89.1% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $201K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 14 of 15 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • High — Growth: Asset growth scored 0/100.