Is New Hope Correctional Ministry Legit?

New Hope Correctional Ministry demonstrates consistent financial activity, with revenues generally exceeding expenses in most recent years, contributing to a steady growth in assets. For instance, in 2022, revenue was $266,659 against expenses of $242,455, leading to an increase in assets to $442,545. However, the latest filing for 2023 shows expenses ($275,336) exceeding revenue ($239,484), resulting in a slight decrease in assets. The organization maintains a very low liability profile, indicating sound financial management and minimal debt burden. The organization's spending efficiency appears strong, particularly given the consistent reporting of 0% officer compensation across all available filings. This suggests that resources are primarily directed towards operational costs and program delivery rather than executive salaries. While a detailed breakdown of program, administrative, and fundraising expenses isn't explicitly provided in the summary data, the absence of officer compensation is a positive indicator of efficiency. The consistent asset growth over the years, from $172,027 in 2015 to $448,159 currently, further supports a picture of responsible financial stewardship. Transparency is high regarding executive compensation, as the 0% reported officer compensation is a clear and positive signal. The consistent filing of IRS Form 990s over 13 periods also indicates a commitment to regulatory compliance and public disclosure. The organization's financial health appears stable, though the recent dip in net assets in 2023 warrants monitoring to ensure it's an anomaly rather than a trend.