The Hope Rescue Mission

The information on this page was last updated 12/13/2024. 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 Roland

Board size: 8

Founder:

Ruling year: 1943

Tax deductible: Yes

Fiscal year end: 12/31

Member of ECFA: No

Member of ECFA since:


Purpose

The Hope Rescue 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

D

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Rescue Missions/Homeless Shelters

CategoryRatingOverall rankSector rank
Overall efficiency rating695 of 110774 of 138
Fund acquisition rating297 of 110826 of 138
Resource allocation rating550 of 110861 of 138
Asset utilization rating1044 of 1107134 of 138

Financial ratios

Funding ratiosSector median20232022202120202019
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
11%6%6%4%6%0%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
10%5%5%4%6%0%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
93%78%93%87%91%92%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
11%7%15%8%10%0%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
7%22%7%13%9%8%
 
Operating ratiosSector median20232022202120202019
Program expense ratio Program expense ratio =
Program services /
Total expenses
79%80%70%74%70%77%
Spending ratio Spending ratio =
Total expenses /
Total revenue
94%73%36%47%59%48%
Program output ratio Program output ratio =
Program services /
Total revenue
74%58%25%35%42%37%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
6%27%64%53%41%52%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
5%9%36%27%19%27%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
9%13%15%18%20%23%
 
Investing ratiosSector median20232022202120202019
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.530.230.180.240.270.22
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.928.152.172.273.625.83
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.771.900.400.540.961.29
 
Liquidity ratiosSector median20232022202120202019
Current ratio Current ratio =
Total current assets /
Total current liabilities
12.159.196.4261.8212.414.21
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.070.110.160.020.080.24
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
6.035.6225.4522.0311.477.08
 
Solvency ratiosSector median20232022202120202019
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
8%1%7%1%2%10%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%6%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
154%423%507%420%367%404%

Financials

Balance sheet
 
Assets20232022202120202019
Cash$872,956$3,817,554$2,357,131$1,224,770$386,942
Receivables, inventories, prepaids$525,075$1,271,141$739,371$197,690$423,229
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$1,398,031$5,088,695$3,096,502$1,422,460$810,171
Long-term investments$0$0$0$0$0
Fixed assets$9,127,393$2,882,808$2,739,412$2,732,953$2,655,281
Other long-term assets$870,963$3,090,061$1,180,558$991,295$1,258,589
Total long-term assets$9,998,356$5,972,869$3,919,970$3,724,248$3,913,870
Total assets$11,396,387$11,061,564$7,016,472$5,146,708$4,724,041
 
Liabilities20232022202120202019
Payables and accrued expenses$152,095$792,739$50,085$114,597$192,417
Other current liabilities$0$0$0$0$0
Total current liabilities$152,095$792,739$50,085$114,597$192,417
Debt$0$0$0$3,539$295,753
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$0$0$0$3,538
Total long-term liabilities$0$0$0$3,539$299,291
Total liabilities$152,095$792,739$50,085$118,136$491,708
 
Net assets20232022202120202019
Without donor restrictions$9,315,294$5,190,179$3,232,998$3,042,620$2,639,431
With donor restrictions$1,928,998$5,078,646$3,733,389$1,985,952$1,592,902
Net assets$11,244,292$10,268,825$6,966,387$5,028,572$4,232,333
 
Revenues and expenses
 
Revenue20232022202120202019
Total contributions$2,846,190$5,264,115$3,098,828$2,104,009$2,001,239
Program service revenue$565,801$285,345$229,665$172,771$143,802
Membership dues$0$0$0$0$0
Investment income($28,600)$23,066($420)$56,724$81,103
Other revenue$268,767$108,986$228,064($32,133)($54,975)
Total other revenue$805,968$417,397$457,309$197,362$169,930
Total revenue$3,652,158$5,681,512$3,556,137$2,301,371$2,171,169
 
Expenses20232022202120202019
Program services$2,131,638$1,418,235$1,227,420$964,370$807,234
Management and general$350,875$312,959$296,559$273,551$239,854
Fundraising$178,225$294,623$135,176$130,847$0
Total expenses$2,660,738$2,025,817$1,659,155$1,368,768$1,047,088
 
Change in net assets20232022202120202019
Surplus (deficit)$991,420$3,655,695$1,896,982$932,603$1,124,081
Other changes in net assets$0$0$0$0$0
Total change in net assets$991,420$3,655,695$1,896,982$932,603$1,124,081

Compensation

NameTitleCompensation
Robert TurchiExecutive Di$157,600

Compensation data as of: 12/31/2023


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 12/13/2024. 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