Overview
What is Star Of Hope Ministries Inc?
Star of Hope Ministries Inc, based in Paterson, New Jersey, is a nonprofit organization dedicated to empowering local churches through leadership development. With a team of 18 individuals, they provide training in various areas, such as fundraising, grant writing, planning, management, and ministry development, including initiatives like food pantries, tutoring, job placement, and spiritual development. Their mission is to strengthen and increase the capacities of approximately 100 local churches, enabling them to address pain and poverty in their communities. This is accomplished through leadership development initiatives and resource support.
Official website here: www.sohm.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Stars)
Star of Hope Ministries Inc has received an overall rating of 86% from Charity Navigator, signifying a commendable level of accountability and financial health. The score is based entirely on accountability and finance metrics, indicating that the organization has a strong foundation in these areas. The high score reflects a commitment to transparency and responsible financial management.
The organization demonstrates organizational strengths, such as having a fully independent board and positive scores in critical areas like audit oversight and program expense ratios. With 77.68% of expenses directed toward programs and an efficient fundraising cost of $0.15 per dollar raised, the organization shows effective resource utilization in its mission.
However, there are notable limitations. The absence of a whistleblower policy and a document retention policy negatively impacted the overall accountability score. Additionally, the organization’s working capital ratio, at 0.36 years, suggests some vulnerability in financial stability, which could be a concern for long-term sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Star Of Hope Ministries Inc legitimate?
Star Of Hope Ministries Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Star Of Hope 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: $189,781
Professional Fundraising Fees: $0
Other Salaries and Wages: $446,399
For more financial information, click here
Official website here: www.sohm.org
What is the mission statement of Star Of Hope Ministries Inc?
Star of Hope Ministries Inc's mission is to enhance and expand the capabilities of around 100 local churches. This is achieved through leadership development initiatives and resource support. The organization aims to empower these churches to address issues of pain and poverty in their communities. They provide training in areas such as fundraising, grant writing, planning, and management, as well as the development of ministries like food pantries, tutoring, job placement, and spiritual development. The ultimate goal is to help leaders improve the lives of people in their communities using evidence-based methods.
Official website here: www.sohm.org
Who is the CEO of Star Of Hope Ministries Inc?
Richard Biswurm is the Executive Di of Star Of Hope Ministries Inc.
Official website here: www.sohm.org
What is the revenue of Star Of Hope Ministries Inc?
Star Of Hope Ministries Inc's revenue in 2021 was $2,042,128.
Official website here: www.sohm.org
Who are the executives of Star Of Hope Ministries Inc and what are their salaries?
The average compensation at Star Of Hope Ministries Inc during 2021 was $35,343. There are 18 employees and 248 volunteers at Star Of Hope Ministries Inc.
Here are 11 key members and their salaries:
- Compensation: $104,808
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- Other: $0
- Compensation: $84,972
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Official website here: www.sohm.org
Where can I find the form 990 for Star Of Hope Ministries Inc?
Star Of Hope Ministries Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.sohm.org
Learn more at the official website: www.sohm.org
Mission Statement of Star Of Hope Ministries Inc
Star of Hope Ministries Inc is committed to strengthening and enhancing the capacities of approximately 100 local churches. Their mission is to address pain and poverty in these communities through leadership development initiatives and resource support. They achieve this by facilitating training programs for institution leaders, churches, and faith-based organizations. By utilizing evidence-based methods, Star of Hope Ministries empowers leaders to bring about positive change and improvement in the lives of people in Greater Paterson, NJ.
The organization provides training in various areas, such as fundraising and grant writing skills, planning and management competencies, and the development of ministries like food pantries, tutoring, job placement, and spiritual development. Their aim is to equip leaders with the necessary tools to establish and manage effective ministries that address the needs of their communities. Star of Hope Ministries also assists in prayer and worship, helping to foster spiritual growth among their members and the wider community.
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Impact
October, 2024
Star Of Hope Ministries Inc significantly impacts the Greater Paterson community by enhancing the capabilities of approximately 100 local churches. By focusing on leadership development, the organization empowers church leaders with the skills necessary to make meaningful changes in people's lives. This is achieved through evidence-based training in areas such as fundraising, grant writing, planning, and management competencies.
Through its initiatives, the organization supports the establishment of essential community services, including food pantries, tutoring programs, job placement assistance, and spiritual development activities. As a result, Star Of Hope Ministries Inc plays a crucial role in addressing pain and poverty in the region, fostering a network of empowered leaders who are equipped to uplift their communities.
This information is meant to be a general summary of Star Of Hope 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 2021.
- Investment Income: $9,301
- Program Service Revenue: $25,798
- Gross Receipts: $2,042,128
Assets and Liabilities:
- Total Assets: $754,217
- Total Liabilities: $60,388
- Net Assets: $693,829
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESOURCE CENTER FEES
Revenue
$21,163
BOOKSTORE SALES
Revenue
$2,991
OTHER
Revenue
$1,644
Organization Details
Founding Year
1943
Phone
(973) 742-1222Principal Officer
Richard Biswurm
Main Address
34 BROADWAY, PATERSON, NJ, 075051006
Website
www.sohm.orgNTEE Category
Code: X20 - Religion related
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