Overview
What is Project Hope Food Bank Inc?
Project Hope Food Bank Inc is a nonprofit organization situated in Hot Springs, Arkansas. With a single employee, they operate by pooling resources to support 45 local nonprofits that lack the means to purchase or store large quantities of food. By purchasing food wholesale in bulk, they ensure affordable and nutritious food supplies for homeless shelters, charity kitchens, food pantries, crisis centers, children's homes, school backpack programs, and children's feeding programs in West Central Arkansas. Their impact is significant due to a donated warehouse, debt-free equipment, and a dedicated volunteer workforce, including the Executive Director and Inventory Specialist.
Official website here: www.projecthopefoodbank.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% (Three-Star out of Four Star Rating)
Project Hope Food Bank Inc has received a solid Three-Star rating from Charity Navigator, indicating a commendable level of accountability and financial health. The overall score is derived entirely from the Accountability & Finance beacon, where the organization scored 84%. This rating reflects an effective management of resources, with a high program expense ratio of 97.75%, demonstrating that the majority of funds are directed towards its mission.
The nonprofit boasts a fully independent board, scoring 8 out of 8 points in that category, and has a total of 13 independent members. It has also achieved full marks for its financial statements audit and shows no material diversion of assets. While these strengths highlight a strong commitment to transparency and governance, there are some noted gaps, including missing policies for conflict of interest and whistleblower protections.
Overall, while Project Hope Food Bank Inc exhibits notable strengths in financial management and accountability, it could benefit from implementing essential policies that ensure further governance standards. Enhancing these areas could bolster its operational integrity and trust among stakeholders.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Project Hope Food Bank Inc?
Project Hope Food Bank Inc is viewed positively by its community, reflecting a strong sense of appreciation among those who have reviewed it. One reviewer highlights the organization as "one of the many blessings to Hot Springs," indicating a deep local impact and support.
Although the total number of reviews is limited, the enthusiasm expressed suggests that those familiar with the nonprofit value its efforts in providing assistance and resources to the community. The sentiment overall leans towards gratitude and encouragement for their ongoing work.
In summary, this food bank is recognized for its significant role in the community, with supporters urging them to "keep up the good work," indicating that it effectively fulfills its mission.
This AI summary has been generated from reviews found on Facebook.
Is Project Hope Food Bank Inc legitimate?
Project Hope Food Bank Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Project Hope Food Bank 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $33,714
For more financial information, click here
Official website here: www.projecthopefoodbank.org
What is the mission statement of Project Hope Food Bank Inc?
Project Hope Food Bank Inc's mission is focused on providing affordable and nutritious food to various feeding programs and food pantries that cater to individuals at risk of hunger. This organization operates by pooling resources, enabling 45 local nonprofits, often lacking the necessary assets, to procure and store food in large quantities at lower costs. By purchasing food wholesale, Project Hope Food Bank aids various charitable organizations such as homeless shelters, crisis centers, and children's feeding programs in fulfilling their respective missions. The organization's substantial impact in the community stems from its resources, including a donated warehouse, debt-free equipment, and a dedicated volunteer workforce, consisting of its Executive Director and Inventory Specialist.
Official website here: www.projecthopefoodbank.org
Who is the CEO of Project Hope Food Bank Inc?
Ted Thompson is the President of Project Hope Food Bank Inc.
Official website here: www.projecthopefoodbank.org
What is the revenue of Project Hope Food Bank Inc?
Project Hope Food Bank Inc's revenue in 2022 was $1,268,880.
Official website here: www.projecthopefoodbank.org
Who are the executives of Project Hope Food Bank Inc and what are their salaries?
The average compensation at Project Hope Food Bank Inc during 2022 was $33,714. There is 1 employee and 25 volunteers at Project Hope Food Bank Inc.
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Official website here: www.projecthopefoodbank.org
Where can I find the form 990 for Project Hope Food Bank Inc?
Project Hope Food Bank Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.projecthopefoodbank.org
Learn more at the official website: www.projecthopefoodbank.org
Mission Statement of Project Hope Food Bank Inc
Project Hope Food Bank Inc, a notable organization, is dedicated to providing affordable and nutritious food to various nonprofit organizations and feeding programs in West Central Arkansas. Its mission is to support these organizations that cater to individuals at risk of hunger by procuring food in bulk at reduced prices. This strategy enables charities such as homeless shelters, crisis centers, children's homes, and school feeding programs to fulfill their commitments effectively. By leveraging a donated warehouse, debt-free equipment, and a volunteer workforce, including its Executive Director and Inventory Specialist, Project Hope Food Bank Inc significantly contributes to the community, ensuring that vital food resources reach those in need.
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Impact
October, 2024
Project Hope Food Bank Inc significantly impacts West Central Arkansas by ensuring that food pantries and feeding programs have access to affordable and healthy food. By pooling resources and purchasing food wholesale in large quantities, they enable 45 area nonprofits—such as homeless shelters, charity kitchens, and school backpack programs—to efficiently serve individuals and families at risk of hunger.
Their operations are supported by a donated warehouse and debt-free equipment, allowing them to maximize the resources available to their partner organizations. Additionally, the dedication of their volunteer workforce, including the Executive Director and Inventory Specialist, enhances their ability to deliver nutritious food to those in need.
Through this collaborative approach, Project Hope Food Bank Inc not only alleviates food insecurity but also empowers local non-profits by enabling them to fulfill their missions effectively, thereby fostering a stronger, healthier community in the region.
This information is meant to be a general summary of Project Hope Food Bank 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: -$524
- Program Service Revenue: $788,796
- Gross Receipts: $1,268,880
Assets and Liabilities:
- Total Assets: $609,986
- Total Liabilities: $32,448
- Net Assets: $577,538
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FOOD DISTRIBUTION
Revenue
$788,796
Organization Details
Founding Year
2009
Phone
(501) 623-3663Principal Officer
Ted Thompson
Main Address
PO Box 39, Hot Springs, AR, 71902
Website
www.projecthopefoodbank.orgNTEE Category
Code: K31 - Food
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