Hope & Main

Nonprofit profile at a glance

EIN
272917974
IRS 990 coverage
2014–2024
Forms available
Form 990 2024, Form 990-N 2013
Location
Warren, RI, USA
Phone
4012457500
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Official website

Reported finances

Revenue
$2,864,515
Expenses
$3,064,061
Assets
$3,842,282
Liabilities
$4,298,561

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

Leadership & pay

12 people listed

Executive titles in this filing

  • LISA RAIOLA MPH (PRESIDENT & CHAIR)
  • LUCA CARNEVALE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • LUCA CARNEVALE (EXECUTIVE DIRECTOR): $108,437 total reported compensation
  • LISA RAIOLA MPH (PRESIDENT & CHAIR): $47,977 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 help local entrepreneurs jump-start early-stage food companies and food related businesses by providing low cost, low risk access to shared-use commercial kitchens and other industry-specific technical resources.

What it reported doing in 2024

The organization's focus is on supporting and advancing food entrepreneurs through business development resources, commercial kitchen access, education, mentorship, and community partnerships designed to strengthen local food systems. The program is intended to promote equitable economic opportunity by helping emerging food businesses launch, grow, and sustain operations while increasing access to locally produced food and fostering community economic development. The organization also serves as an advocate and resource hub for small food business owners by providing training, networking opportunities, and operational support to entrepreneurs in the food industry.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 74% for direct work, and 26% for grants.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 87
  • Accountability: 84
  • Sustainability: 28
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.3%; rating input score 93
  • Program expense ratio: 87.2%; rating input score 87
  • Fundraising efficiency: $21.54 raised per $1 spent on fundraising; rating input score 61; 61st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 88.3%; rating input score 88; 25th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 21st percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • 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: Pass

Sustainability

  • Operating margin: -7%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 1.25; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 1.12; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 5.1%; rating input score 53; 53rd percentile among comparable filings

Growth

  • Program expense growth: 14.7% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 16.2% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 13th percentile among comparable filings

Details

  • Where the money goes: 93.3% of revenue deployed · 87.2% of spending went to programs
  • Governance: 9 of 10 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.7M in reported program spending
  • Leadership: top reported pay $108K · 12 people listed
  • Consistency: 37 of 38 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 6 filed related-organization links
  • 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 17/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 53/100.