Hope Love And Charity Foundation Inc
- Assets
- $3.4m
- Revenue
- $102.5k
- Investments
- $2.6m
- Employees
- 0
- Location
- Aurora, WV
- Founding
- 11/1994
- Data as of
- 12/2023
- EIN
- 55-0616253
Organization Overview
Hope Love And Charity Foundation Inc is located in Aurora, WV. The organization was established in 1994. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Love And Charity Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Hope Love And Charity Foundation Inc generated $102.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (9.3%) each year. All expenses for the organization totaled $137.8k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (10.4%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Hope Love And Charity Foundation Inc has awarded 157 individual grants totaling $685,100. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick A Nichols Trustee | 1 | $1,500 | |
Ladonna Teets Secy | 10 | $6,600 | |
J Michael Lantz Trustee | 1 | $1,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $6,924 |
| Interest on Savings | $10,393 |
| Dividends & Interest | $45,202 |
| Net Rental Income | -$2,918 |
| Net Gain on Sale of Assets | $35,742 |
| Capital Gain Net Income | $41,912 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $102,461 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $12,600 |
| Other employee salaries and wages | $11,036 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $3,203 |
| Depreciation | $12,651 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $1,086 |
| Printing and publications | $0 |
| Other expenses | $12,455 |
| Total operating and administrative expenses | $56,056 |
| Contributions, gifts, grants paid | $81,750 |
| Total expenses and disbursements | $137,806 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,737 |
| Savings and temporary cash investments | $93,874 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $249 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,571,641 |
| Net Land, buildings, and equipment | $662,679 |
| Other assets | $0 |
| Total assets | $3,352,180 |
| Accounts payable and accrued expenses | $420 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $420 |
Grants Awarded
Over the last fiscal year, Hope Love And Charity Foundation Inc has awarded $81,750 in support to 25 organizations.
| Grant Recipient | Amount |
|---|---|
AURORA AREA HISTORICAL SO PURPOSE: ANNUAL DONATION | $1,500 |
AURORA VFD PURPOSE: ANNUAL DONATION | $3,000 |
BROOKSIDE CHURCH OF BRETH PURPOSE: ANNUAL DONATION | $2,500 |
BLACKWATER MINISTERIAL AS PURPOSE: ANNUAL DONATION | $15,000 |
CORTLAND ACRES ASSOCIATIO PURPOSE: ANNUAL DONATION | $6,000 |
DAVIS VOL FIRE DEPT PURPOSE: ANNUAL DONATION | $3,000 |