Star of Hope Ministries Inc

Nonprofit profile at a glance

EIN
221489912
IRS 990 coverage
2011–2021
Forms available
Form 990 2021
Location
Paterson, NJ, USA
Phone
9737421222
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Affiliation
Christianity

Official website

Reported finances

Revenue
$2,042,128
Expenses
$2,014,262
Assets
$754,217
Liabilities
$60,388

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

11 people listed

Highest reported compensation

  • MATTHEW ANDERSON (EXECUTIVE DI): $104,808 total reported compensation
  • RICHARD BISWURM (CFO): $84,972 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To strengthen and increase the capacities of approximately 100 local churches in order to address pain and poverty through leadership development initiatives and resource support

What it reported doing in 2021

Resource support - we reach out to individuals, and organizations outside of paterson, nj to develop resources that benefit our member organizations primarily in paterson and also in passaic, clifton and other urban areas. We promote a trio of hope from june through december with 1. Project backpack from june-july provides necessary school supplies to 2200 children; 2. Box of love ministry from september-november provides thanksgiving dinners for 2500 families; 3. The christmas joy shoppe from november-december whereby 5000 children receive a toy or game. Throughout the year we provided food and other necessary resources to serve families in need. We also provied summer camperships for children in paterson. We operate a thrift store to provide used quality clothing and bric-a-brac to the community at considerably low prices.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 49% for direct work, and 51% for grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 88
  • Accountability: 84
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.7%; rating input score 82
  • Program expense ratio: 76%; rating input score 76
  • Fundraising efficiency: $5.71 raised per $1 spent on fundraising; rating input score 15; 15th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 16th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 71st percentile among comparable filings
  • 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 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.4%; rating input score 27; 27th percentile among comparable filings
  • Total-asset coverage ratio: 0.37; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 64; 64th percentile among comparable filings
  • Officer compensation ratio: 9.4%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 10.1% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 13.1% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 1.7% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 81.7% of revenue deployed · 76% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $105K · 11 people listed
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 11 filing years from 2011 to 2021
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Financial Efficiency: Fundraising efficiency scored 15/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 27/100.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 27/100.