Overview
What is Helping Overcome Poverty's Existence Inc?
Helping Overcome Poverty's Existence Inc, or HOPE Inc, is a nonprofit organization situated in Wytheville, Virginia. Its primary mission is to combat generational poverty by enhancing food access and promoting housing stability. HOPE Inc utilizes public support to develop, coordinate, and administer programs that ensure safe, affordable, and suitable housing for lower-income residents in its service area, which includes the southwestern counties of Bland, Carroll, Grayson, Smyth, and Wythe, as well as the city of Galax. The organization administers state and federal assistance and intervention programs, preventing homelessness, providing rapid rehousing, and offering permanent supportive housing. In addition, HOPE Inc develops affordable multi-family housing for lower-income and disabled individuals and offers homeownership opportunities for low-income families, all with the goal of breaking the cycle of poverty. The nonprofit has a workforce of 17 dedicated individuals.
Official website here: www.wythehope.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Star rating)
Helping Overcome Poverty's Existence Inc (HOPE) has received a rating of 76%, which reflects a generally positive evaluation of its operations and impact. The organization scored particularly well in the Accountability & Finance category, with a score of 89, indicating strong financial health and transparency. Notably, it has achieved a high program expense ratio of 89.60%, suggesting that a significant portion of its expenditures is directed toward its programs rather than administrative costs.
The organization also benefits from a fully independent board, which is important for governance and oversight. All board members are independent, and the organization has robust policies in place, including conflict of interest and whistleblower policies. However, its Impact & Measurement score is lower at 65, indicating there may be room for improvement in demonstrating the effectiveness and measurable outcomes of its programs.
One area of concern is the Liabilities to Assets ratio, which stands at 64.93% and received a lower score of 4 out of 15 points. This could indicate potential financial vulnerabilities that the organization may need to address to ensure long-term sustainability. Overall, HOPE shows promise through its strong commitment to financial accountability and governance, but it may need to enhance its impact measurement strategies.
This AI summary has been generated from information found on Charity Navigator.
Is Helping Overcome Poverty's Existence Inc legitimate?
Helping Overcome Poverty's Existence Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Helping Overcome Poverty's Existence 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: $408,807
For more financial information, click here
Official website here: www.wythehope.org
What is the mission statement of Helping Overcome Poverty's Existence Inc?
Helping Overcome Poverty's Existence Inc, often referred to as HOPE Inc, is dedicated to addressing and alleviating generational poverty. Their mission is accomplished through two primary focus areas: enhanced food access and housing stability. By leveraging public support, HOPE Inc develops and coordinates programs to provide affordable housing for lower-income residents, prevents homelessness, and offers rapid re-housing and permanent supportive housing. In addition, the organization develops affordable multi-family housing for disabled individuals and provides homeownership opportunities for low-income families. Their goals aim to improve living conditions and promote self-sufficiency for those affected by poverty.
Official website here: www.wythehope.org
Who is the CEO of Helping Overcome Poverty's Existence Inc?
Andy Kegley is the Executive Di of Helping Overcome Poverty's Existence Inc.
Official website here: www.wythehope.org
What is the revenue of Helping Overcome Poverty's Existence Inc?
Helping Overcome Poverty's Existence Inc's revenue in 2022 was $1,591,441.
Official website here: www.wythehope.org
Who are the executives of Helping Overcome Poverty's Existence Inc and what are their salaries?
The average compensation at Helping Overcome Poverty's Existence Inc during 2022 was $24,047. There are 17 employees at Helping Overcome Poverty's Existence Inc.
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Official website here: www.wythehope.org
Where can I find the form 990 for Helping Overcome Poverty's Existence Inc?
Helping Overcome Poverty's Existence Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wythehope.org
Learn more at the official website: www.wythehope.org
Mission Statement of Helping Overcome Poverty's Existence Inc
Helping Overcome Poverty's Existence Inc, often referred to as HOPE Inc, is dedicated to eradicating generational poverty by focusing on enhanced food access and housing stability. This nonprofit organization leverages public support to create, coordinate, and manage programs that provide affordable, secure, warm, and dry housing for individuals with lower incomes in certain regions. HOPE Inc goes beyond just providing shelter, they also administer state and federal assistance and intervention programs to prevent homelessness, offer rapid re-housing, and provide permanent supportive housing. Furthermore, HOPE Inc develops affordable multi-family housing for lower income and disabled individuals and offers homeownership opportunities for low-income families, demonstrating their commitment to breaking the cycle of poverty.
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Impact
July, 2024
Helping Overcome Poverty's Existence Inc's impact is significant in breaking generational poverty through enhanced food access and housing stability. The organization, based in Wytheville, VA, focuses on providing safe, warm, and dry affordable housing for lower-income residents in its service area, including several counties and a city in the southwestern region of Virginia.
HOPE Inc utilizes public support to administer state and federal assistance programs, intervene to prevent homelessness, provide rapid re-housing, and offer permanent supportive housing. Additionally, the organization develops affordable multi-family housing for lower-income and disabled individuals, as well as provides homeownership opportunities for low-income families.
The impact of Helping Overcome Poverty's Existence Inc can be seen in the tangible support and interventions it provides to individuals and families in need, ultimately contributing to greater housing stability, improved quality of life, and a pathway out of poverty for its beneficiaries.
This information is meant to be a general summary of Helping Overcome Poverty's Existence 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: $910
- Program Service Revenue: $294,536
- Gross Receipts: $2,117,354
Assets and Liabilities:
- Total Assets: $5,246,776
- Total Liabilities: $3,259,384
- Net Assets: $1,987,392
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OPEN DOOR CAFE
Revenue
$236,859
OPEN DOOR PROPERTY SOLUTIONS
Revenue
$57,677
Organization Details
Founding Year
1992
Phone
(276) 228-6280Principal Officer
Andy Kegley
Main Address
680 WEST MAIN STREET PO BOX 743, WYTHEVILLE, VA, 24382
Website
www.wythehope.orgNTEE Category
Code: L80Z - Housing
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