Children's HopeChest

The information on this page was last updated 2/22/2023. If you see errors or omissions, please email: [email protected]


Summary

At Children's HopeChest, we empower orphaned and impoverished children and their communities through relationships that cultivate holistic transformation and sustainability. Our unique Community-to-Community model connects communities in the U.S. to communities overseas with a high population of orphaned and impoverished children.


Contact information

Mailing address:
Children's HopeChest
PO Box 1190
Palmer Lake, CO 80133

Website: hopechest.org

Phone: (719) 487-7800

Email: [email protected]


Organization details

EIN: 330430285

CEO/President: Ken Sparks

Chairman: Jeff Wilson

Board size: 7

Founder:

Ruling year: 1994

Tax deductible: Yes

Fiscal year end: 09/30

Member of ECFA: Yes

Member of ECFA since: 1999


Purpose

Children's HopeChest seeks to glorify God by effecting positive, lasting change in the lives of vulnerable children around the world. Specifically, we engage communities in long-term partnerships that:

Empower local leaders to provide food, medical care, and hope to their communities, while sharing the gospel.

Work with local leaders to reduce, and eventually eliminate, poverty by creating self-sufficiency for every child and every family in their community.

Support partnering communities as they directly engage with overseas communities to create sustainable transformation using healthy international development practices.

Address the complex causes of poverty, including material, spiritual, emotional, social, economic, and educational needs.

Put systems in place to reduce, and eventually eliminate, poverty in all of its forms.

Tend to children's holistic needs for survival, community, education, and employment.

Transform the lives of children and their communities through a focus on sustainability, independence, and long-term self-sufficiency.

Transform the lives of the partnering community members through exposure, education, relationship, service, and perhaps most importantly, instilling hope.


Mission statement

Children's HopeChest exists to glorify God by releasing the potential of orphaned and impoverished children and their communities. We do this through partnerships that cultivate two-way transformation.


Statement of faith

Visit: https://www.hopechest.org/wp-content/uploads/2021/10/2021-09-24-Board-Signed-Statement-of-Faith.pdf

Donor confidence score

Show donor confidence score details

Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Foreign Missions

CategoryRatingOverall rankSector rank
Overall efficiency rating506 of 110463 of 143
Fund acquisition rating751 of 110596 of 143
Resource allocation rating727 of 110594 of 143
Asset utilization rating96 of 110413 of 143

Financial ratios

Funding ratiosSector median20232022202120202019
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
6%8%6%8%6%5%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
5%8%6%8%6%5%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
99%100%100%100%100%100%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
5%8%6%7%6%5%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
1%0%0%0%0%0%
 
Operating ratiosSector median20232022202120202019
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%81%83%82%84%85%
Spending ratio Spending ratio =
Total expenses /
Total revenue
99%96%98%101%94%101%
Program output ratio Program output ratio =
Program services /
Total revenue
82%78%81%83%79%86%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
1%4%2%-1%6%-1%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%23%12%-6%46%-9%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
8%11%11%11%10%10%
 
Investing ratiosSector median20232022202120202019
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.324.124.736.316.8911.92
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.211.151.271.131.161.04
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.964.755.997.157.9912.44
 
Liquidity ratiosSector median20232022202120202019
Current ratio Current ratio =
Total current assets /
Total current liabilities
18.817.919.116.616.464.15
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.050.130.110.150.150.24
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.672.211.781.421.270.73
 
Solvency ratiosSector median20232022202120202019
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
7%21%23%13%13%23%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
68%19%16%14%13%6%

Financials

Balance sheet
 
Assets20232022202120202019
Cash$1,209,956$870,356$797,092$864,769$618,332
Receivables, inventories, prepaids$85,183$75,766$56,287$40,662$29,969
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$1,295,139$946,122$853,379$905,431$648,301
Long-term investments$0$0$0$0$0
Fixed assets$60,607$79,765$110,939$138,327$28,371
Other long-term assets$137,295$172,438$2,844$6,256$0
Total long-term assets$197,902$252,203$113,783$144,583$28,371
Total assets$1,493,041$1,198,325$967,162$1,050,014$676,672
 
Liabilities20232022202120202019
Payables and accrued expenses$163,654$103,816$129,142$140,175$156,118
Other current liabilities$0$0$0$0$0
Total current liabilities$163,654$103,816$129,142$140,175$156,118
Debt$0$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$143,311$173,849$0$0$0
Total long-term liabilities$143,311$173,849$0$0$0
Total liabilities$306,965$277,665$129,142$140,175$156,118
 
Net assets20232022202120202019
Without donor restrictions$549,394$20,410($208,767)($248,164)($721,907)
With donor restrictions$636,682$900,250$1,046,787$1,158,003$1,242,461
Net assets$1,186,076$920,660$838,020$909,839$520,554
 
Revenues and expenses
 
Revenue20232022202120202019
Total contributions$6,401,538$5,778,835$6,048,816$7,654,050$8,007,656
Program service revenue$0$0$0$0$0
Membership dues$0$0$0$0$0
Investment income$12,985$2,548$1,713$2,883$3,050
Other revenue$0$0$0$522$3,088
Total other revenue$12,985$2,548$1,713$3,405$6,138
Total revenue$6,414,523$5,781,383$6,050,529$7,657,455$8,013,794
 
Expenses20232022202120202019
Program services$4,985,332$4,678,431$4,992,913$6,083,708$6,865,111
Management and general$666,029$625,078$650,455$703,366$783,700
Fundraising$496,249$364,591$457,475$448,982$414,319
Total expenses$6,147,610$5,668,100$6,100,843$7,236,056$8,063,130
 
Change in net assets20232022202120202019
Surplus (deficit)$266,913$113,283($50,314)$421,399($49,336)
Other changes in net assets$0$0$0$0$0
Total change in net assets$266,913$113,283($50,314)$421,399($49,336)

Compensation

NameTitleCompensation
Ken SparksPresident and CEO$182,584
Wil CrooksVP of Strategic Partnerships$120,433
Leona StraitController$105,788

Compensation data as of: 9/30/2023


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 2/22/2023. To update the information below, please email: [email protected]


History

For a timeline, visit: https://www.hopechest.org/about/


Program accomplishments


Needs