Overview
What is Hope's Outlet Ministries Inc?
Hope's Outlet Ministries Inc is a nonprofit organization situated in the low-income neighborhoods of Spring Lake, Michigan. Their primary mission is to support the underprivileged in their local communities, addressing both their physical and spiritual needs. The organization achieves this through its thrift store centers, serving around 300-500 individuals daily. A significant majority of these individuals are low-income residents, with approximately 75% relying on government assistance. Hope's Outlet Ministries Inc provides essential items at affordable prices, such as clothing, household necessities, furniture, linens, and kitchenware. The nonprofit employs a team of 62 individuals, dedicating their efforts to uplifting the less fortunate in their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating 67% - Two-Star out of Four Star Rating
Hope's Outlet Ministries Inc has received a Two-Star rating from Charity Navigator, indicating some areas for improvement, particularly in overall accountability and financial management. The organization demonstrates strong governance with a fully independent board and has shown no material diversion of assets, which highlights its commitment to transparency. Additionally, it effectively documents board meeting minutes.
The charity boasts a solid program expense ratio of 75.06%, suggesting that a significant portion of its funds is directed toward its programs rather than administrative costs. The liabilities to assets ratio is reasonable at 27.82%, indicating a manageable level of debt relative to its assets, which is a positive sign for financial health.
However, the overall score of 67% reflects that while the organization holds strengths in governance and program spending, there may be aspects of its financial practices or outcomes that require further scrutiny and improvement. It is essential for potential donors to consider these factors when evaluating their support for the nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Hope's Outlet Ministries Inc legitimate?
Hope's Outlet Ministries Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hope's Outlet Ministries Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $48,847
Professional Fundraising Fees: $0
Other Salaries and Wages: $713,992
For more financial information, click here
What is the mission statement of Hope's Outlet Ministries Inc?
Hope's Outlet Ministries Inc's mission is centered around addressing the physical and spiritual needs of underprivileged individuals within their local communities. This organization operates in low-income neighborhoods, where their thrift store centers interact with approximately 300-500 people daily. The majority of these individuals, around 90%, are low-income, and about 75% of them receive some form of government assistance. Hope's Outlet Ministries Inc serves as a low-cost provider of essential physical items, such as clothing, household necessities like beds, furniture, linens, and kitchenware, for these individuals.
Who is the CEO of Hope's Outlet Ministries Inc?
Timothy Tabor is the President/Ops Mgr of Hope's Outlet Ministries Inc.
What is the revenue of Hope's Outlet Ministries Inc?
Hope's Outlet Ministries Inc's revenue in 2022 was $1,672,678.
Who are the executives of Hope's Outlet Ministries Inc and what are their salaries?
The average compensation at Hope's Outlet Ministries Inc during 2022 was $12,304. There are 62 employees and 1200 volunteers at Hope's Outlet Ministries Inc.
Here are 3 key members and their salaries:
- Compensation: $48,846
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Hope's Outlet Ministries Inc?
Hope's Outlet Ministries Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Hope's Outlet Ministries Inc
Hope's Outlet Ministries Inc is committed to addressing the physical and spiritual needs of under-resourced individuals within their local communities. The nonprofit organization achieves this mission by operating thrift store centers that engage with an average of 300-500 people daily. The majority of these individuals, around 90%, are low-income, and approximately 75% of them rely on some form of government assistance. Hope's Outlet Ministries Inc serves as a low-cost provider of essential physical items, such as clothing, household necessities like beds, furniture, linens, and kitchenware, to those in need. By providing these basic necessities, the organization helps to alleviate the hardships faced by under-resourced individuals, thereby contributing positively to their overall well-being.
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Impact
August, 2024
Hope's Outlet Ministries Inc has a significant impact on the under-resourced individuals in low-income neighborhoods in Spring Lake, MI. Their thrift store centers serve as a crucial resource for the community, providing basic physical needs such as clothes, household items like beds, furniture, linens, and kitchenware. With approximately 300-500 people interfacing with their centers daily, Hope's Outlet Ministries Inc plays a vital role in supporting those in need. They serve a clientele where roughly 90% are low income, with about 75% receiving some form of government assistance. Their mission to provide for both the physical and spiritual needs of the under-resourced reflects their commitment to holistic support for the community.
This information is meant to be a general summary of Hope's Outlet Ministries Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $31
- Gross Receipts: $1,771,844
Assets and Liabilities:
- Total Assets: $549,404
- Total Liabilities: $152,854
- Net Assets: $396,550
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Organization Details
Founding Year
2005
Phone
(231) 557-3777Principal Officer
Timothy Tabor
Main Address
15485 RANNES STREET, SPRING LAKE, MI, 49456
NTEE Category
Code: P60 - Human services
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