Restoring Hope Center Inc
- Assets
- $509.5k
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 5
- Location
- Laurinburg, NC
- Founding
- 09/2010
- Data as of
- 12/2022
- EIN
- 55-4627519
Organization Overview
Restoring Hope Center Inc is located in Laurinburg, NC. The organization was established in 2010. According to its NTEE Classification (P40) the organization is classified as: Family Services, under the broad grouping of Human Services and related organizations. As of 12/2022, Restoring Hope Center Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Restoring Hope Center 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 12/2022, Restoring Hope Center Inc generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.5%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Restoring Hope Center Inc has awarded 100 individual grants totaling $4,549,983. 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
RESTORING HOPE CENTER INC. PROVIDES FOOD DISTRIBUTION TO LIKE-MINDED NON-PROFIT ORGANIZATIONS AND DIRECTLY TO NEEDY FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FEEDING UNDERPRIVILEGED CHILDREN WHEN SCHOOL IS ON SUMMER BREAK BY PROVIDING HOT MEALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Faye J Coates Director | OfficerTrustee | 40 | $50,400 |
Timothy Hodge President | OfficerTrustee | 5 | $0 |
Christine Oxendine Treasurer | OfficerTrustee | 5 | $0 |
Charles Whitehead Board Member | Trustee | 1 | $0 |
Mollie Clowers Board Member | Trustee | 1 | $0 |
Joyce Blease Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,705,175 |
| Noncash contributions included in lines 1a–1f | $1,525,585 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,705,175 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,705,175 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,248,813 |
| Grants and other assistance to domestic individuals. | $264,565 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $50,400 |
| Compensation of current officers, directors, key employees. | $50,400 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,069 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,320 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,273 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16 |
| Advertising and promotion | $175 |
| Office expenses | $745 |
| Information technology | $1,236 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,267 |
| Insurance | $4,336 |
| All other expenses | $55,386 |
| Total functional expenses | $1,678,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $102,530 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $155,988 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $251,002 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $509,520 |
| Accounts payable and accrued expenses | $8,110 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,110 |
| Net assets without donor restrictions | $501,410 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $509,520 |
Grants Awarded
Over the last fiscal year, Restoring Hope Center Inc has awarded $1,083,131 in support to 34 organizations.
| Grant Recipient | Amount |
|---|---|
AGAPE BUCHANAN PURPOSE: Feeding Needy Families and Individuals | $5,067 |
BREAD OF LIFE MINISTRIES PURPOSE: Feeding Needy Families and Individuals | $24,202 |
CHURCH & COMMUNITY SERVICE PURPOSE: Feeding Needy Families and Individuals | $38,459 |
FAITH ASSEMBLY OUTREACH PURPOSE: Feeding Needy Families and Indivifuals | $24,505 |
FCA PURPOSE: Feeding Needy Families and Individuals | $7,582 |
FIRST UMC PURPOSE: Food & Supplies | $25,548 |