Hope Renovations Spencer

Nonprofit profile at a glance

EIN
823675207
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2019
Location
Chapel Hill, NC, USA
Phone
9199601957
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Employment Procurement Assistance

Official website

Reported finances

Revenue
$1,779,248
Expenses
$1,607,601
Assets
$783,584
Liabilities
$26,697

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

Leadership & pay

8 people listed

Executive titles in this filing

  • NORA E SPENCER (CEO)

Highest reported compensation

  • NORA E SPENCER (CEO): $100,000 total reported compensation

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

Overview

Mission

Hope renovations empowers women and gender-expansive individuals into careers in construction and helps older adults age in place.

What it reported doing in 2024

Aging in place construction program - during fye 06/30/2024, the construction program completed 40 jobs ranging in size from small grab bar installations and safety modifications to large bathroom renovations. 78% of households served were 55+ and/or disabled.

Operating model

Revenue model
Donor-supported. 80% of the money available for current operations came from contributions and gifts.
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 a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.6%; rating input score 67
  • Program expense ratio: 72.7%; rating input score 73
  • Fundraising efficiency: $7.83 raised per $1 spent on fundraising; rating input score 30; 30th percentile among comparable filings

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: 5 of 8 controls in place; rating input score 62
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.6%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 0.49; rating input score 23; 23rd percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 6.2%; rating input score 50; 50th percentile among comparable filings

Growth

  • Program expense growth: 19.1% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: 22.2% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 30.2% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 66.6% of revenue deployed · 72.7% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.2M in reported program spending
  • Leadership: top reported pay $100K · 8 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Fundraising efficiency scored 30/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 23/100.
  • Review — Sustainability: Officer compensation ratio scored 50/100.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.