Star Of Hope Inc
- Assets
- $6.9m
- Revenue
- $3.9m
- Investments
- $2.4m
- Employees
- 0
- Location
- Rockland, ME
- Founding
- 10/2016
- Data as of
- 12/2021
- EIN
- 81-3141890
Organization Overview
Star Of Hope Inc is located in Rockland, ME. The organization was established in 2016. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Star Of Hope 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 12/2021, Star Of Hope Inc generated $3.9m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.8% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE STAR OF HOPE FOUNDATION IS TO PROMOTE EDUCATION OF THE VISUAL ARTS THROUGH VARIOUS MEANS INCLUDING EXHIBITIONS, A MUSEUM, ARTIST-IN-RESIDENCE PROGRAMS AND OTHER OUTREACH ENDEAVORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lawrence Sterrs Chairman | 40 | $0 | |
Kris Davidson Treasurer | 2 | $0 | |
Patricia King Secretary | 2 | $0 | |
Paul Bird Director | 2 | $0 | |
Adam Weinberg Director | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Unity Foundation | 12/30/21 | $150,000 |
Eaton Peabody | 12/30/21 | $221,474 |
Silberman Zaretsky | 12/30/21 | $230,861 |
Berrydunn | 12/30/21 | $68,700 |
Rockport Building Partners | 12/30/21 | $174,840 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,535,000 |
| Interest on Savings | $107 |
| Dividends & Interest | $41,507 |
| Net Rental Income | $4,000 |
| Net Gain on Sale of Assets | $107,158 |
| Capital Gain Net Income | $5,127 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,200,000 |
| Total Revenue | $3,887,772 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $12,767 |
| Depreciation | $0 |
| Occupancy | $43,962 |
| Travel, conferences, and meetings | $12,177 |
| Printing and publications | $0 |
| Other expenses | $338,075 |
| Total operating and administrative expenses | $1,271,837 |
| Contributions, gifts, grants paid | $1,000 |
| Total expenses and disbursements | $1,272,837 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $490,704 |
| 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 | $47,354 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $1,399,825 |
| Other assets | $2,535,000 |
| Total assets | $6,892,242 |
| Accounts payable and accrued expenses | $148,840 |
| 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 | $148,840 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Make A Wish Of New Hampshire Inc Manchester, NH | $4,345,175 | $2,601,281 |
Star Of Hope Inc Rockland, ME | $6,892,242 | $3,887,772 |
Broom Family Foundation New London, NH | $3,724,358 | $22,264 |
Maine College Circle Ellsworth, ME | $196,261 | $0 |
Music On Norway Pond Hancock, NH | $43,627 | $0 |
J Henry Hanhisalo Charitable Trust Concord, NH | $765,801 | $130,666 |
Hewnoaks Artist Colony Portland, ME | $73,086 | $0 |
Maine Acadian Heritage Council Madawaska, ME | $44,904 | $0 |
International Artists Manifest Woolwich, ME | $1,001,983 | $83,018 |
Summer Festival Of The Arts Southwest Harbor, ME | $44,572 | $0 |
New Hampshire Teachers Of Mathematics Epping, NH | $16,986 | $0 |
Keene Chamber Orchestra Inc Keene, NH | $16,904 | $0 |