Hope Cove Ministries
EIN: 260861398 · Hoonah, AK · NTEE: X21
Is Hope Cove Ministries Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hope Cove Ministries
Hope Cove Ministries (EIN: 260861398) is a nonprofit organization based in Hoonah, AK, classified under NTEE code X21. The organization reported total revenue of $24K and total assets of $134K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hope Cove Ministries's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hope Cove Ministries is a micro nonprofit that has been operating for 3 years, with 4 years of IRS 990 filings on record (2020–2023). Revenue has grown at a compound annual rate of 11.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $19K |
| Total Expenses | $16K |
| Surplus / Deficit | +$3K |
| Total Assets | $133K |
| Total Liabilities | $1 |
| Net Assets | $133K |
| Operating Margin | 17.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 100.7 months |
Financial Health Grade: A
In 2023, Hope Cove Ministries reported a surplus of $3K with revenue exceeding expenses, holds 100.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 4 years of filings (2020–2023), Hope Cove Ministries's revenue has grown at a compound annual growth rate (CAGR) of 11.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +67.1% | +32.0% | +2.6% |
| 2022 | -10.0% | -10.6% | -0.4% |
| 2021 | -8.2% | -10.7% | -0.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1700 |
| IRS Ruling Date | 2023 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Hope Cove Ministries has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hope Cove Ministries with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $3K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Hope Cove Ministries
Is Hope Cove Ministries a legitimate charity?
Based on AI analysis of IRS 990 filings, Hope Cove Ministries (EIN: 260861398) insufficient data. 0 red flags identified, 0 strengths noted.
How does Hope Cove Ministries spend its money?
Detailed spending breakdown data is not yet available for Hope Cove Ministries. Check back for updated IRS 990 analysis.
Are donations to Hope Cove Ministries tax-deductible?
Hope Cove Ministries is registered as a tax-exempt nonprofit (EIN: 260861398). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Hope Cove Ministries showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2020–2023), Hope Cove Ministries's revenue has grown by 38.2%, moving from $14K to $19K. Total assets increased by 1.6% over the same period, from $131K to $133K. Total functional expenses rose by 5.4%, from $15K to $16K. In its most recent filing year (2023), Hope Cove Ministries reported a surplus of $3K, with revenue exceeding expenses. The organization holds $1 in liabilities against $133K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $133K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $19K | $16K | $133K | $1 | — | — |
| 2022 | $12K | $12K | $130K | $1 | — | — |
| 2021 | $13K | $13K | $131K | $1 | — | — |
| 2020 | $14K | $15K | $131K | $0 | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $19K, expenses of $16K, and assets of $133K (revenue +67.1% year-over-year).
- 2022: Revenue of $12K, expenses of $12K, and assets of $130K (revenue -10.0% year-over-year).
- 2021: Revenue of $13K, expenses of $13K, and assets of $131K (revenue -8.2% year-over-year).
- 2020: Revenue of $14K, expenses of $15K, and assets of $131K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hope Cove Ministries:
Data Sources and Methodology
This transparency report for Hope Cove Ministries is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.