Hope Initiative Inc

Nonprofit profile at a glance

EIN
874331334
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Mayfield, KY, USA
Phone
2705199630
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Human Service Organizations
Affiliation
Christianity

Reported finances

Revenue
$6,141,926
Expenses
$5,508,821
Assets
$8,128,784
Liabilities
$96,445

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

Leadership & pay

7 people listed

Executive titles in this filing

  • STEPHEN BOYKEN (PRESIDENT)

People named in this filing

  • STEPHEN BOYKEN (PRESIDENT)
  • TAMARA BRINDLEY (SECRETARY)
  • JESSICA TUCKER (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

To provide disaster relief and other support services to residents of graves county while spreading the gospel of jesus christ.

What it reported doing in 2024

Houses are under construction and will be sold to residents of graves county who lost their homes during the tornado that occured on 12-10-2021. The houses will be sold at cost with no profit realized on the sale. Construction costs accumulate in the asset account "construction in progress" until the home is completed and sold.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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.

The verdict

STRONG - 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 92
  • Accountability: 70
  • Sustainability: 65
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.8%; rating input score 88
  • Program expense ratio: 97.8%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 10.3%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 1.48; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 150% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: 45.5% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 54.8% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 87.8% of revenue deployed · 97.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $5.4M in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.