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
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Rescue Missions/Homeless Shelters
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 708 of 1104 | 78 of 140 |
| Fund acquisition rating | | 248 of 1105 | 20 of 140 |
| Resource allocation rating | | 815 of 1105 | 91 of 140 |
| Asset utilization rating | | 858 of 1104 | 119 of 140 |
Financial ratios
| Funding ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 11% | 6% | 4% | 6% | 0% | 0% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 10% | 5% | 4% | 6% | 0% | 0% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 93% | 93% | 87% | 91% | 92% | 93% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 11% | 15% | 8% | 10% | 0% | 0% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 7% | 7% | 13% | 9% | 8% | 7% |
| Operating ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Program expense ratio Program expense ratio = Program services / Total expenses | 79% | 70% | 74% | 70% | 77% | 75% |
Spending ratio Spending ratio = Total expenses / Total revenue | 90% | 36% | 47% | 59% | 48% | 65% |
Program output ratio Program output ratio = Program services / Total revenue | 71% | 25% | 35% | 42% | 37% | 49% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 10% | 64% | 53% | 41% | 52% | 35% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 7% | 36% | 27% | 19% | 27% | 17% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 9% | 15% | 18% | 20% | 23% | 25% |
| Investing ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.52 | 0.18 | 0.24 | 0.27 | 0.22 | 0.26 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.80 | 2.17 | 2.27 | 3.62 | 5.83 | 3.69 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.69 | 0.40 | 0.54 | 0.96 | 1.29 | 0.96 |
| Liquidity ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Current ratio Current ratio = Total current assets / Total current liabilities | 13.05 | 6.42 | 61.82 | 12.41 | 4.21 | 2.82 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.07 | 0.16 | 0.02 | 0.08 | 0.24 | 0.35 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.30 | 25.45 | 22.03 | 11.47 | 7.08 | 8.05 |
| Solvency ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 8% | 7% | 1% | 2% | 10% | 15% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 0% | 0% | 6% | 5% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 157% | 507% | 420% | 367% | 404% | 327% |
Financials
| Balance sheet | |||||
| Assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Cash | $3,817,554 | $2,357,131 | $1,224,770 | $386,942 | $652,416 |
| Receivables, inventories, prepaids | $1,271,141 | $739,371 | $197,690 | $423,229 | $335,044 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $5,088,695 | $3,096,502 | $1,422,460 | $810,171 | $987,460 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $2,882,808 | $2,739,412 | $2,732,953 | $2,655,281 | $1,253,865 |
| Other long-term assets | $3,090,061 | $1,180,558 | $991,295 | $1,258,589 | $1,404,227 |
| Total long-term assets | $5,972,869 | $3,919,970 | $3,724,248 | $3,913,870 | $2,658,092 |
| Total assets | $11,061,564 | $7,016,472 | $5,146,708 | $4,724,041 | $3,645,552 |
| Liabilities | 2022 | 2021 | 2020 | 2019 | 2018 |
| Payables and accrued expenses | $792,739 | $50,085 | $114,597 | $192,417 | $83,667 |
| Other current liabilities | $0 | $0 | $0 | $0 | $265,943 |
| Total current liabilities | $792,739 | $50,085 | $114,597 | $192,417 | $349,610 |
| Debt | $0 | $0 | $3,539 | $295,753 | $181,019 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $0 | $0 | $0 | $3,538 | $6,671 |
| Total long-term liabilities | $0 | $0 | $3,539 | $299,291 | $187,690 |
| Total liabilities | $792,739 | $50,085 | $118,136 | $491,708 | $537,300 |
| Net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Without donor restrictions | $5,190,179 | $3,232,998 | $3,042,620 | $2,639,431 | $2,043,908 |
| With donor restrictions | $5,078,646 | $3,733,389 | $1,985,952 | $1,592,902 | $1,064,344 |
| Net assets | $10,268,825 | $6,966,387 | $5,028,572 | $4,232,333 | $3,108,252 |
| Revenues and expenses | |||||
| Revenue | 2022 | 2021 | 2020 | 2019 | 2018 |
| Total contributions | $5,264,115 | $3,098,828 | $2,104,009 | $2,001,239 | $1,358,850 |
| Program service revenue | $285,345 | $229,665 | $172,771 | $143,802 | $124,869 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $23,066 | ($420) | $56,724 | $81,103 | ($58,432) |
| Other revenue | $108,986 | $228,064 | ($32,133) | ($54,975) | $38,929 |
| Total other revenue | $417,397 | $457,309 | $197,362 | $169,930 | $105,366 |
| Total revenue | $5,681,512 | $3,556,137 | $2,301,371 | $2,171,169 | $1,464,216 |
| Expenses | 2022 | 2021 | 2020 | 2019 | 2018 |
| Program services | $1,418,235 | $1,227,420 | $964,370 | $807,234 | $710,981 |
| Management and general | $312,959 | $296,559 | $273,551 | $239,854 | $239,472 |
| Fundraising | $294,623 | $135,176 | $130,847 | $0 | $0 |
| Total expenses | $2,025,817 | $1,659,155 | $1,368,768 | $1,047,088 | $950,453 |
| Change in net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Surplus (deficit) | $3,655,695 | $1,896,982 | $932,603 | $1,124,081 | $513,763 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $3,655,695 | $1,896,982 | $932,603 | $1,124,081 | $513,763 |
Compensation
| Name | Title | Compensation |
| Robert Turchi | Executive Di | $149,600 |
Compensation data as of: 12/31/2022
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