Hope Mill Inc
Nonprofit profile at a glance
- EIN
- 872905647
- IRS 990 coverage
- 2024–2024
- Forms available
- Form 990 2024, Form 990-N 2023
- Location
- Denver, NC, USA
- Phone
- 7047191713
- Rating
- 70
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $1,440,239
- Expenses
- $685,127
- Assets
- $785,979
- Liabilities
- $27,221
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
People named in this filing
- Kevin Garrison (Board Chair)
- James Brown (Board Member)
- Hollie Fox (Board Member)
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
We are dedictated to bringing hope and assistance to communities and people in their time of need. We aim to find meaningful solutions that support and uplift our community, no matter the challenges we face.
What it reported doing in 2024
Our organization was a first responder in the Hurricane Helene relief efforts in Western North Carolina. This entailed providing fuel for helicopters, fixed wing planes, and vehicles delivering life-saving supplies in the immediate aftermath of the storm. This work continues as we rebuild bridges, provide long-term and short-term housing, and supplies.
Operating model
- Revenue model
- Earned-program. 97% of the money available for current operations came from fees and other program revenue.
- 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
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 fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 59
- Transparency & Controls: 82
- Accountability: 88
- Sustainability: 74
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 46.3%; rating input score 46
- Program expense ratio: 97.3%; rating input score 97
- Fundraising efficiency: $2.23 raised per $1 spent on fundraising; rating input score 6; 6th percentile among comparable filings
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 5 of 7 controls in place; rating input score 71
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- 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: 52.4%; rating input score 93; 93rd percentile among comparable filings
- Total-asset coverage ratio: 1.15; rating input score 47; 47th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 56; 56th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 46.3% of revenue deployed · 97.3% of spending went to programs
- Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $667K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 14 of 15 current checks pass · 1 finding to review
- Schedules: 3 filed schedules
- 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.
- Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
- High — Financial Efficiency: Fundraising efficiency scored 6/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
- Review — Sustainability: Liabilities to assets ratio scored 56/100.