Hopebound Ministries Inc
Hopebound Ministries Inc. consistently spends significantly more than its revenue, raising sustainability concerns.
EIN: 200123458 · Chicago, IL · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $596K |
| Total Expenses | $1.1M |
| Program Spending | 70% |
| Net Assets | $1.0M |
| Transparency Score | 45/100 |
Is Hopebound Ministries Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hopebound Ministries Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Hopebound Ministries Inc
Hopebound Ministries Inc (EIN: 200123458) is a nonprofit organization based in Chicago, IL. The organization reported total revenue of $596K and total assets of $1.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hopebound Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hopebound Ministries Inc is a small nonprofit that has been operating for 80 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 15.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $356K |
| Total Expenses | $1.1M |
| Surplus / Deficit | $-779,025 |
| Total Assets | $1.2M |
| Total Liabilities | $168K |
| Net Assets | $1.0M |
| Operating Margin | -219.1% |
| Debt-to-Asset Ratio | 14.0% |
| Months of Reserves | 12.7 months |
Financial Health Grade: B
In 2023, Hopebound Ministries Inc reported a deficit of $779K with expenses exceeding revenue, holds 12.7 months of operating reserves (strong position), has a debt-to-asset ratio of 14.0% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Hopebound Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 15.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -4.6% | +22.6% | +11.2% |
| 2022 | -5.4% | +34.8% | +41.1% |
| 2021 | +117.2% | +36.8% | +101.0% |
| 2020 | +27.4% | +5.2% | +9.9% |
| 2019 | -27.4% | +3.1% | +11.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1700 |
| IRS Ruling Date | 1946 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hopebound Ministries Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Hopebound Ministries Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $779K, with expenses exceeding revenue.
- Debt-to-asset ratio: 14.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filing periods, indicating that no officers received compensation from the organization, which is a positive sign for transparency and resource allocation relative to the organization's size and revenue levels.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Hopebound Ministries Inc's IRS 990 filings:
- Consistent and significant operating deficits (expenses far exceeding revenue) across multiple years, indicating potential financial instability.
- Lack of detailed functional expense breakdown (programs, admin, fundraising) in the provided data, hindering a full assessment of spending efficiency.
- Growing liabilities over time, from $28,476 in 201406 to $168,319 in 202306, which could be a concern if not managed effectively.
Strengths
The following positive indicators were identified for Hopebound Ministries Inc:
- No officer compensation reported across all filing periods, indicating a commitment to directing funds towards the mission rather than executive salaries.
- Assets have shown growth over the years, from $156,795 in 201406 to $1,301,554 currently, suggesting some capacity for future operations, though this growth is outpaced by expenses.
Frequently Asked Questions about Hopebound Ministries Inc
Is Hopebound Ministries Inc a legitimate charity?
Hopebound Ministries Inc (EIN: 200123458) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 45/100. It has 12 years of IRS 990 filings on record. Total revenue: $596K. 3 red flags identified. 2 strengths noted. Financial health grade: B.
How does Hopebound Ministries Inc spend its money?
Hopebound Ministries Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Hopebound Ministries Inc tax-deductible?
Hopebound Ministries Inc is registered as a tax-exempt nonprofit (EIN: 200123458). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Hopebound Ministries Inc's spending goes to programs?
Hopebound Ministries Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Hopebound Ministries Inc located?
Hopebound Ministries Inc is headquartered in Chicago, Illinois and files with the IRS under EIN 200123458.
How many years of IRS 990 filings does Hopebound Ministries Inc have?
Hopebound Ministries Inc has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $596K in total revenue.
Is Hopebound Ministries Inc. financially sustainable given its consistent deficits?
The organization has consistently reported expenses significantly exceeding revenue across multiple years (e.g., 202306: Revenue $355,624, Expenses $1,134,649). This pattern raises serious questions about its long-term financial sustainability and reliance on other funding sources or asset depletion.
What is the source of funding covering the substantial annual deficits?
With expenses consistently higher than revenue, the organization must be covering these deficits through accumulated reserves, additional contributions not categorized as revenue in the provided data, or by increasing liabilities. The data shows liabilities increasing from $28,476 in 201406 to $168,319 in 202306, suggesting some reliance on debt or deferred payments.
How does the organization plan to address the recurring revenue-expense gap?
The provided data does not include strategic plans or explanations for the persistent financial deficits. A sustainable financial model would typically aim to align expenses more closely with revenue or demonstrate a clear strategy for covering shortfalls.
Filing History
IRS 990 filing history for Hopebound Ministries Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Hopebound Ministries Inc's revenue has grown by 405.5%, moving from $70K to $356K. Total assets increased by 476.4% over the same period, from $208K to $1.2M. Total functional expenses rose by 983%, from $105K to $1.1M. In its most recent filing year (2023), Hopebound Ministries Inc reported a deficit of $779K, with expenses exceeding revenue. The organization holds $168K in liabilities against $1.2M in assets (debt-to-asset ratio: 14.0%), resulting in net assets of $1.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $356K | $1.1M | $1.2M | $168K | — | — |
| 2022 | $373K | $925K | $1.1M | $133K | — | View 990 |
| 2021 | $394K | $687K | $764K | $100K | — | View 990 |
| 2020 | $181K | $502K | $380K | $30K | — | View 990 |
| 2019 | $142K | $477K | $346K | $40K | — | View 990 |
| 2018 | $196K | $463K | $310K | $51K | — | View 990 |
| 2017 | $166K | $413K | $255K | $67K | — | View 990 |
| 2016 | $139K | $257K | $160K | $35K | — | View 990 |
| 2015 | $98K | $243K | $147K | $34K | — | View 990 |
| 2014 | $90K | $210K | $157K | $28K | — | View 990 |
| 2013 | $102K | $153K | $180K | $11K | — | View 990 |
| 2012 | $70K | $105K | $208K | $19K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $356K, expenses of $1.1M, and assets of $1.2M (revenue -4.6% year-over-year).
- 2022: Revenue of $373K, expenses of $925K, and assets of $1.1M (revenue -5.4% year-over-year).
- 2021: Revenue of $394K, expenses of $687K, and assets of $764K (revenue +117.2% year-over-year).
- 2020: Revenue of $181K, expenses of $502K, and assets of $380K (revenue +27.4% year-over-year).
- 2019: Revenue of $142K, expenses of $477K, and assets of $346K (revenue -27.4% year-over-year).
- 2018: Revenue of $196K, expenses of $463K, and assets of $310K (revenue +18.2% year-over-year).
- 2017: Revenue of $166K, expenses of $413K, and assets of $255K (revenue +19.5% year-over-year).
- 2016: Revenue of $139K, expenses of $257K, and assets of $160K (revenue +42.2% year-over-year).
- 2015: Revenue of $98K, expenses of $243K, and assets of $147K (revenue +8.7% year-over-year).
- 2014: Revenue of $90K, expenses of $210K, and assets of $157K (revenue -11.8% year-over-year).
- 2013: Revenue of $102K, expenses of $153K, and assets of $180K (revenue +44.8% year-over-year).
- 2012: Revenue of $70K, expenses of $105K, and assets of $208K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hopebound Ministries Inc:
Data Sources and Methodology
This transparency report for Hopebound Ministries Inc 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.