The Hope Rescue Mission

The information on this page was last updated 3/21/2023. If you see errors or omissions, please email: [email protected]


Summary

For 128 years, Hope Rescue Mission has been a place of refuge for people experiencing homelessness in Berks County. We provide meals, shelter, and support services for those in need in our community 365 days a yea


Contact information

Mailing address:
The Hope Rescue Mission
645 North Sixth Street
Reading, PA 19601

Website: www.hopeforreading.org

Phone: (610) 375-4224

Email: [email protected]


Organization details

EIN: 231413677

CEO/President: Rob Turchi

Chairman: David H. Roland

Board size: 0

Founder:

Ruling year: 1943

Tax deductible: Yes

Fiscal year end: 12/31

Member of ECFA: Yes

Member of ECFA since: 2014


Purpose

Mission will lead the community in providing vocational, social service, health and spiritual programs to develop community partnership solutions to homelessness.


Mission statement

We Provide for the physical, emotional and spiritual needs of the homeless of Berks County to share the life-changing message of the Gospel with the HOPE of seeing them restored to a productive life.


Statement of faith

Donor confidence score

Show donor confidence score details

Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Rescue Missions/Homeless Shelters

CategoryRatingOverall rankSector rank
Overall efficiency rating646 of 109677 of 145
Fund acquisition rating212 of 109815 of 145
Resource allocation rating750 of 109887 of 145
Asset utilization rating836 of 1096120 of 145

Financial ratios

Funding ratiosSector median20212020201920182017
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
11%4%6%0%0%22%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
9%4%6%0%0%16%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
92%87%91%92%93%71%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
11%8%10%0%0%17%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
8%13%9%8%7%29%
 
Operating ratiosSector median20212020201920182017
Program expense ratio Program expense ratio =
Program services /
Total expenses
79%74%70%77%75%62%
Spending ratio Spending ratio =
Total expenses /
Total revenue
87%47%59%48%65%93%
Program output ratio Program output ratio =
Program services /
Total revenue
69%35%42%37%49%58%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
13%53%41%52%35%7%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
8%27%19%27%17%3%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
9%18%20%23%25%21%
 
Investing ratiosSector median20212020201920182017
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.520.240.270.220.260.32
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.672.273.625.833.693.71
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.640.540.961.290.961.18
 
Liquidity ratiosSector median20212020201920182017
Current ratio Current ratio =
Total current assets /
Total current liabilities
14.4961.8212.414.212.827.74
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.070.020.080.240.350.13
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
6.4722.0311.477.088.058.85
 
Solvency ratiosSector median20212020201920182017
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
7%1%2%10%15%13%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%6%5%10%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
163%420%367%404%327%273%

Financials

Balance sheet
 
Assets20212020201920182017
Cash$2,357,131$1,224,770$386,942$652,416$457,540
Receivables, inventories, prepaids$739,371$197,690$423,229$335,044$347,616
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$3,096,502$1,422,460$810,171$987,460$805,156
Long-term investments$0$0$0$0$0
Fixed assets$2,739,412$2,732,953$2,655,281$1,253,865$1,278,416
Other long-term assets$1,180,558$991,295$1,258,589$1,404,227$904,974
Total long-term assets$3,919,970$3,724,248$3,913,870$2,658,092$2,183,390
Total assets$7,016,472$5,146,708$4,724,041$3,645,552$2,988,546
 
Liabilities20212020201920182017
Payables and accrued expenses$50,085$114,597$192,417$83,667$104,017
Other current liabilities$0$0$0$265,943$0
Total current liabilities$50,085$114,597$192,417$349,610$104,017
Debt$0$3,539$295,753$181,019$290,040
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$0$3,538$6,671$0
Total long-term liabilities$0$3,539$299,291$187,690$290,040
Total liabilities$50,085$118,136$491,708$537,300$394,057
 
Net assets20212020201920182017
Without donor restrictions$3,232,998$3,042,620$2,639,431$2,043,908$1,467,045
With donor restrictions$3,733,389$1,985,952$1,592,902$1,064,344$1,127,444
Net assets$6,966,387$5,028,572$4,232,333$3,108,252$2,594,489
 
Revenues and expenses
 
Revenue20212020201920182017
Total contributions$3,098,828$2,104,009$2,001,239$1,358,850$726,225
Program service revenue$229,665$172,771$143,802$124,869$71,552
Membership dues$0$0$0$0$0
Investment income($420)$56,724$81,103($58,432)$45,202
Other revenue$228,064($32,133)($54,975)$38,929$175,500
Total other revenue$457,309$197,362$169,930$105,366$292,254
Total revenue$3,556,137$2,301,371$2,171,169$1,464,216$1,018,479
 
Expenses20212020201920182017
Program services$1,227,420$964,370$807,234$710,981$588,644
Management and general$296,559$273,551$239,854$239,472$199,308
Fundraising$135,176$130,847$0$0$163,164
Total expenses$1,659,155$1,368,768$1,047,088$950,453$951,116
 
Change in net assets20212020201920182017
Surplus (deficit)$1,896,982$932,603$1,124,081$513,763$67,363
Other changes in net assets$0$0$0$0$0
Total change in net assets$1,896,982$932,603$1,124,081$513,763$67,363

Compensation

NameTitleCompensation
Robert TurchiExecutive Di$148,608

Compensation data as of: 12/31/2021


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 3/21/2023. To update the information below, please email: [email protected]


History

Since 1894, Hope Rescue Mission has been a place of refuge for the homeless men of Berks County, PA. We offer four residential programs that men can work their way through to transition back into the community as productive and independent individuals.


Program accomplishments

The Hope Rescue Mission has recently completed a $2,000,000 renovation project to its 92 year-old building that was purchased from the Reading Railroad in 1975


Needs