Hope Chest for Women Inc

Nonprofit profile at a glance

EIN
331033038
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2023
Location
Asheville, NC, USA
Phone
8287083017
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$508,038
Expenses
$201,164
Assets
$598,066
Liabilities
$60,254

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

Leadership & pay

12 people listed

Executive titles in this filing

  • Kim Battle (Executive Director)

Highest reported compensation

  • Kim Battle (Executive Director): $52,000 total reported compensation

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

Overview

Mission

The Hope Chest for Women provides financial assistance, education and emotional support to women in Western North Carolina diagnosed with breast or gynecologic cancer who are experiencing economic difficulties due to treatment costs.

What it reported doing in 2024

Our WNC Cancer Patient Support program provided over 1040 hours of financial navigation and resource referral to over 110 unduplicated female cancer patients. We provided over $61,000 in direct financial bill pay, gasoline and food assistance to women in cancer treatment.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 42% for direct work, and 58% for grants.

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 the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 69
  • Accountability: 95
  • Sustainability: 73
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 34.1%; rating input score 34
  • Program expense ratio: 86.1%; rating input score 86
  • Fundraising efficiency: $110.85 raised per $1 spent on fundraising; rating input score 87; 87th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 72.8%; rating input score 73; 33rd 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: 7 of 8 controls in place; rating input score 88
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 60.4%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 2.97; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 25.8%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: -0.3% per year; rating input score 0; 17th percentile among comparable filings
  • Revenue growth: 6.3% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 13.8% per year; rating input score 100; 70th percentile among comparable filings

Details

  • Where the money goes: 34.1% of revenue deployed · 86.1% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $173K in reported program spending
  • Leadership: top reported pay $52K · 12 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors, foreign activity, and grants
  • Filing history: 8 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 34/100.
  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.