Promise Of Hope Ministries
- Assets
- $632.0k
- Revenue
- $122.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Chattanooga, TN
- Founding
- 02/2002
- Data as of
- 12/2021
- EIN
- 71-0861458
Organization Overview
Promise Of Hope Ministries is located in Chattanooga, TN. The organization was established in 2002. According to its NTEE Classification (X82) the organization is classified as: Religious Television, under the broad grouping of Religion-Related and related organizations. As of 12/2021, Promise Of Hope Ministries employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Promise Of Hope Ministries 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 12/2021, Promise Of Hope Ministries generated $122.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $182.9k during the year ending 12/2021. While expenses have increased by 5.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE EVANGELISM AND MISSIONS UNDER THE LORDSHIP OF JESUS CHRIST AND TO PROMOTE CHRISTIAN FELLOWSHIP AND BROTHERLY LOVE THROUGH THE TEACHING, PREACHING AND TESTIMONY OF THE WORD OF GOD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMISE OF HOPE MINISTRIES DBA HOMEPLACE MINISTRIES PROVIDES A WONDERFUL PLATFORM FOR IMPACTING THE LIVES OF MANY PEOPLE. WE ARE HELPING PEOPLE FIND HOPE IN JESUS THROUGH SUPPORT GROUPS, BIBLE STUDIES, COOKOUTS, CHILDREN'S EVENTS, FISHING, TARGET SHOOTING AND CAMP FIRES AND A HOST OF OTHER ACTIVITIES. THIS PAST YEAR, WE GREW A LARGE GARDEN AND GAVE PRODUCE TO A LOCAL HOUSING PROJECT. WE LAUNCHED A BIBLE STUDY IN THE PROJECT, HELD A CHILDREN'S DAY AND MADE SURE EACH RESIDENT WAS ADOPTED BY A VOLUNTEER FOR CHRISTMAS. THIS PAST YEAR, 153 PEOPLE SURRENDERED THEIR LIVES TO JESUS. THIS IS AN AVERAGE OF ALMOST 3 PEOPLE A WEEK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffery A Mcalister Director | Trustee | 40 | $28,500 |
Charles E Mcalister President | OfficerTrustee | 40 | $27,600 |
Paula Stratton Director | OfficerTrustee | 1 | $0 |
Janice H Mcalister Vice President | OfficerTrustee | 5 | $0 |
G R Rush Treasurer | OfficerTrustee | 15 | $0 |
Patricia F Kimble Secretary | OfficerTrustee | 5 | $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 | $112,580 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,580 |
| Total Program Service Revenue | $9,649 |
| 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 | $122,229 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $56,100 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,967 |
| Payroll taxes | $1,607 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $758 |
| Advertising and promotion | $0 |
| Office expenses | $821 |
| Information technology | $1,717 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,105 |
| 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 | $27,333 |
| Insurance | $5,862 |
| All other expenses | $20,081 |
| Total functional expenses | $182,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,239 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $612,770 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $632,009 |
| Accounts payable and accrued expenses | $0 |
| 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 | $27,215 |
| Unsecured mortgages and notes payable | $21,150 |
| Other liabilities | $0 |
| Total liabilities | $48,365 |
| Net assets without donor restrictions | $0 |
| 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 | $583,644 |
| Total liabilities and net assets/fund balances | $632,009 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Promise Of Hope Ministries has recieved totaling $11,200.
| Awarding Organization | Amount |
|---|---|
Workman Family Charitable Tr Columbia, SC PURPOSE: GENERAL USE | $10,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $1,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eternal Word Television Network Inc Irondale, AL | $79,027,248 | $88,426,862 |
Word Broadcasting Network Inc Louisville, KY | $8,903,414 | $3,811,676 |
Victory Television Network Inc Little Rock, AR | $11,559,580 | $2,438,439 |
Living Faith Ministries Inc Bristol, VA | $15,068,859 | $2,998,597 |
32 North Media Inc Chesapeake, VA | $1,341,963 | $1,226,574 |
Macon Urban Ministries Inc Macon, GA | $2,354,932 | $1,144,176 |
Christian Media International Inc Dawnsonville, GA | $590,158 | $864,411 |
Transforming Truth Inc Flowery Branch, GA | $317,601 | $290,099 |
Beyond The Walls Inc Martinsville, VA | $0 | $244,634 |
Promise Of Hope Ministries Chattanooga, TN | $632,009 | $122,229 |
Glory City Network Inc Suwanee, GA | $32,977 | $166,906 |
Divine Vision Network Inc West Point, GA | $141,009 | $0 |