Overview
What is Hope & Main?
Hope & Main is a nonprofit organization based in Warren, Rhode Island, located at 691 Main Street. Their primary mission is to support local entrepreneurs and businesses in the food industry by offering low-cost, low-risk access to shared-use commercial kitchens and various industry-specific technical resources. This initiative aims to help early-stage food companies and related businesses get off the ground, providing them with a platform to grow and thrive. With a team of 31 dedicated individuals, Hope & Main plays a crucial role in fostering and nurturing the local food industry, contributing to the economic growth and development of the community.
Official website here: www.makefoodyourbusiness.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 69%, Two-Star out of Four Star rating.
Hope & Main has received a mixed evaluation, reflected in its 69% score which translates to a Two-Star rating. The organization demonstrates strong governance with 100% of board members being independent and has a solid program expense ratio of 87.44%, indicating that a significant portion of its expenses are directed towards its mission-related activities. Furthermore, the financial statements are audited, which adds to its credibility in financial accountability.
However, the organization faces notable limitations, particularly in the areas of transparency and governance policies. The lack of a conflict of interest policy, whistleblower policy, and document retention policy raises concerns about its operational practices. Additionally, the liabilities to assets ratio at 130.27% suggests potential financial risk, highlighting the need for improved financial management and stability. Overall, while Hope & Main shows strengths in certain areas, there are critical improvements needed for better accountability and transparency.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Hope & Main?
94% of the 40 reviewers on Facebook recommend Hope & Main. Here is a summary of their reviews:
Many visitors express a strong enthusiasm for the variety of offerings at Hope & Main, highlighting its role as a hub for local talent and innovative products. Reviewers mention the enjoyable experience of exploring the space, filled with unique items to buy and delicious food available.
Overall, the sentiment towards Hope & Main is overwhelmingly positive, with patrons feeling inspired and satisfied by the vibrant local community represented at the nonprofit. The encouraging feedback reflects a strong endorsement for others to visit and support this resource for local entrepreneurs.
This AI summary has been generated from reviews found on Facebook.
Is Hope & Main legitimate?
Hope & Main is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hope & Main 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: $444,248
For more financial information, click here
Official website here: www.makefoodyourbusiness.org
What is the mission statement of Hope & Main?
Hope & Main aims to assist early-stage food entrepreneurs and businesses by offering them affordable and low-risk access to shared-use commercial kitchens and industry-specific technical resources. This organization aims to help these entrepreneurs kickstart their ventures, providing them with essential resources that may otherwise be out of reach. By doing so, Hope & Main contributes to the growth and development of the local food industry, supporting entrepreneurs in turning their ideas into successful businesses.
Official website here: www.makefoodyourbusiness.org
Who is the CEO of Hope & Main?
Lisa Raiola is the Shrm-Cp Phr of Hope & Main.
Official website here: www.makefoodyourbusiness.org
What is the revenue of Hope & Main?
Hope & Main's revenue in 2022 was $1,208,253.
Official website here: www.makefoodyourbusiness.org
Who are the executives of Hope & Main and what are their salaries?
The average compensation at Hope & Main during 2022 was $14,331. There are 31 employees and 40 volunteers at Hope & Main.
Here are 16 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.makefoodyourbusiness.org
Where can I find the form 990 for Hope & Main?
Hope & Main's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.makefoodyourbusiness.org
Learn more at the official website: www.makefoodyourbusiness.org
Mission Statement of Hope & Main
Hope & Main is an organization dedicated to aiding local entrepreneurs in the early stages of food-related businesses. Their mission is to offer affordable and low-risk access to shared-use commercial kitchens and industry-specific technical resources. By doing so, Hope & Main aims to provide a platform for these entrepreneurs to kickstart their ventures, thereby fostering the growth of the food industry in the local community.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Hope & Main plays a crucial role in fostering local entrepreneurship by providing early-stage food companies and food-related businesses with vital resources. By offering low-cost, low-risk access to shared-use commercial kitchens, it enables entrepreneurs to experiment, innovate, and refine their products without the substantial financial burden typically associated with starting a food business. Additionally, Hope & Main provides industry-specific technical resources, equipping these businesses with the knowledge and skills necessary to navigate the complex food industry landscape. This initiative not only stimulates economic growth in Warren, RI, but also strengthens community ties by supporting local food artisans and promoting culinary diversity.
This information is meant to be a general summary of Hope & Main. 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.
- Program Service Revenue: $730,826
- Gross Receipts: $1,235,610
Assets and Liabilities:
- Total Assets: $2,526,610
- Total Liabilities: $3,335,073
- Net Assets: -$808,463
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP INCOME
Revenue
$730,826
Organization Details
Founding Year
2014
Phone
(401) 245-7400Principal Officer
Lisa Raiola
Main Address
691 MAIN STREET, WARREN, RI, 02885
Website
www.makefoodyourbusiness.orgNTEE Category
Code: S31 - Community improvement
If you are a representative of Hope & Main and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.