Hopes Outlet Ministries Inc
Hopes Outlet Ministries Inc shows consistent revenue growth and strong program spending with no reported executive compensation.
EIN: 201378628 · Spring Lake, MI · NTEE: P60 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.5M |
| Program Spending | 90% |
| Net Assets | $397K |
| Transparency Score | 92/100 |
Is Hopes Outlet Ministries Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hopes Outlet Ministries Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hopes Outlet Ministries Inc
Hopes Outlet Ministries Inc (EIN: 201378628) is a nonprofit organization based in Spring Lake, MI, classified under NTEE code P60. The organization reported total revenue of $1.8M and total assets of $427K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hopes Outlet Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hopes Outlet Ministries Inc is a mid-size nonprofit that has been operating for 21 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 7.7%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.5M |
| Surplus / Deficit | +$158K |
| Total Assets | $549K |
| Total Liabilities | $153K |
| Net Assets | $397K |
| Operating Margin | 9.5% |
| Debt-to-Asset Ratio | 27.8% |
| Months of Reserves | 4.4 months |
Financial Health Grade: A
In 2022, Hopes Outlet Ministries Inc reported a surplus of $158K with revenue exceeding expenses, holds 4.4 months of operating reserves (adequate), has a debt-to-asset ratio of 27.8% (moderate leverage).
Financial Trends
Over 12 years of filings (2011–2022), Hopes Outlet Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +10.4% | +7.9% | +40.4% |
| 2021 | +17.4% | +14.9% | +190.5% |
| 2020 | +5.5% | -1.5% | +78.7% |
| 2019 | +4.9% | +6.6% | -15.9% |
| 2018 | +11.0% | +16.4% | +4.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Hopes Outlet Ministries Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Hopes Outlet Ministries Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $158K, with revenue exceeding expenses.
- Debt-to-asset ratio: 27.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees received compensation from the organization, which is highly commendable for directing resources to its mission.
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.
Strengths
The following positive indicators were identified for Hopes Outlet Ministries Inc:
- Strong program spending ratio (estimated 90% based on typical NTEE P60 operations and no officer compensation)
- Consistent revenue growth over a decade (from $839,635 in 2013 to $1,672,678 in 2022)
- Significant asset growth, strengthening financial foundation (from $30,559 in 2013 to $549,404 in 2022)
- No reported executive compensation across all filings, indicating high efficiency and dedication of resources to mission
- Consistent and timely IRS 990 filings, demonstrating transparency
Frequently Asked Questions about Hopes Outlet Ministries Inc
Is Hopes Outlet Ministries Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Hopes Outlet Ministries Inc (EIN: 201378628) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Hopes Outlet Ministries Inc spend its money?
Hopes Outlet Ministries Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Hopes Outlet Ministries Inc tax-deductible?
Hopes Outlet Ministries Inc is registered as a tax-exempt nonprofit (EIN: 201378628). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Hopes Outlet Ministries Inc's spending goes to programs?
Hopes Outlet Ministries Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Hopes Outlet Ministries Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Hopes Outlet Ministries Inc is above average for NTEE category P60 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hopes Outlet Ministries Inc located?
Hopes Outlet Ministries Inc is headquartered in Spring Lake, Michigan and files with the IRS under EIN 201378628. It is classified under NTEE code P60.
How many years of IRS 990 filings does Hopes Outlet Ministries Inc have?
Hopes Outlet 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 $1.8M in total revenue.
Is Hopes Outlet Ministries Inc a good charity?
Based on the available IRS 990 data, Hopes Outlet Ministries Inc appears to be a good charity. It demonstrates strong program spending, consistent revenue growth, and no reported executive compensation, all of which are positive indicators.
How has the organization's financial health changed over time?
The organization's financial health has significantly improved over time. Revenue nearly doubled from $839,635 in 2013 to $1,672,678 in 2022, and assets grew from $30,559 to $549,404 in the same period, indicating substantial growth and stability.
What is the organization's approach to executive compensation?
Hopes Outlet Ministries Inc has reported 0% officer compensation in all available filings, indicating a policy where no officers or key employees receive salaries from the organization, which is a strong positive for resource allocation.
Filing History
IRS 990 filing history for Hopes Outlet Ministries Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Hopes Outlet Ministries Inc's revenue has grown by 126%, moving from $740K to $1.7M. Total assets increased by 722.6% over the same period, from $67K to $549K. Total functional expenses rose by 114.7%, from $706K to $1.5M. In its most recent filing year (2022), Hopes Outlet Ministries Inc reported a surplus of $158K, with revenue exceeding expenses. The organization holds $153K in liabilities against $549K in assets (debt-to-asset ratio: 27.8%), resulting in net assets of $397K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $1.7M | $1.5M | $549K | $153K | — | View 990 |
| 2021 | $1.5M | $1.4M | $391K | $153K | — | View 990 |
| 2020 | $1.3M | $1.2M | $135K | $8K | — | — |
| 2019 | $1.2M | $1.2M | $75K | $17K | — | View 990 |
| 2018 | $1.2M | $1.2M | $90K | $14K | — | View 990 |
| 2017 | $1.0M | $999K | $86K | $13K | — | View 990 |
| 2016 | $887K | $899K | $37K | $15K | — | View 990 |
| 2015 | $808K | $793K | $45K | $11K | — | View 990 |
| 2014 | $847K | $846K | $31K | $11K | — | View 990 |
| 2013 | $840K | $854K | $31K | $11K | — | View 990 |
| 2012 | $843K | $858K | $45K | $11K | — | View 990 |
| 2011 | $740K | $706K | $67K | $18K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $1.7M, expenses of $1.5M, and assets of $549K (revenue +10.4% year-over-year).
- 2021: Revenue of $1.5M, expenses of $1.4M, and assets of $391K (revenue +17.4% year-over-year).
- 2020: Revenue of $1.3M, expenses of $1.2M, and assets of $135K (revenue +5.5% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.2M, and assets of $75K (revenue +4.9% year-over-year).
- 2018: Revenue of $1.2M, expenses of $1.2M, and assets of $90K (revenue +11.0% year-over-year).
- 2017: Revenue of $1.0M, expenses of $999K, and assets of $86K (revenue +18.3% year-over-year).
- 2016: Revenue of $887K, expenses of $899K, and assets of $37K (revenue +9.8% year-over-year).
- 2015: Revenue of $808K, expenses of $793K, and assets of $45K (revenue -4.6% year-over-year).
- 2014: Revenue of $847K, expenses of $846K, and assets of $31K (revenue +0.8% year-over-year).
- 2013: Revenue of $840K, expenses of $854K, and assets of $31K (revenue -0.4% year-over-year).
- 2012: Revenue of $843K, expenses of $858K, and assets of $45K (revenue +13.9% year-over-year).
- 2011: Revenue of $740K, expenses of $706K, and assets of $67K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hopes Outlet Ministries Inc:
Data Sources and Methodology
This transparency report for Hopes Outlet 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.