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
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Foreign Missions
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 323 of 1085 | 45 of 143 |
| Fund acquisition rating | | 627 of 1088 | 84 of 144 |
| Resource allocation rating | | 578 of 1088 | 84 of 144 |
| Asset utilization rating | | 46 of 1085 | 9 of 143 |
Financial ratios
| Funding ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 5% | 6% | 8% | 6% | 5% | 6% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 5% | 6% | 8% | 6% | 5% | 6% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 99% | 100% | 100% | 100% | 100% | 99% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 6% | 6% | 7% | 6% | 5% | 6% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 1% | 0% | 0% | 0% | 0% | 1% |
| Operating ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 83% | 82% | 84% | 85% | 88% |
Spending ratio Spending ratio = Total expenses / Total revenue | 95% | 98% | 101% | 94% | 101% | 115% |
Program output ratio Program output ratio = Program services / Total revenue | 77% | 81% | 83% | 79% | 86% | 101% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 5% | 2% | -1% | 6% | -1% | -15% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 8% | 12% | -6% | 46% | -9% | -207% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 9% | 11% | 11% | 10% | 10% | 6% |
| Investing ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 1.18 | 4.73 | 6.31 | 6.89 | 11.92 | 13.26 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 1.18 | 1.27 | 1.13 | 1.16 | 1.04 | 1.24 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.65 | 5.99 | 7.15 | 7.99 | 12.44 | 16.47 |
| Liquidity ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Current ratio Current ratio = Total current assets / Total current liabilities | 22.54 | 9.11 | 6.61 | 6.46 | 4.15 | 4.86 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.04 | 0.11 | 0.15 | 0.15 | 0.24 | 0.21 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.81 | 1.78 | 1.42 | 1.27 | 0.73 | 0.58 |
| Solvency ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 6% | 23% | 13% | 13% | 23% | 17% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 78% | 16% | 14% | 13% | 6% | 6% |
Financials
| Balance sheet | |||||
| Assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Cash | $870,356 | $797,092 | $864,769 | $618,332 | $454,255 |
| Receivables, inventories, prepaids | $75,766 | $56,287 | $40,662 | $29,969 | $56,671 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $946,122 | $853,379 | $905,431 | $648,301 | $510,926 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $79,765 | $110,939 | $138,327 | $28,371 | $123,656 |
| Other long-term assets | $172,438 | $2,844 | $6,256 | $0 | $0 |
| Total long-term assets | $252,203 | $113,783 | $144,583 | $28,371 | $123,656 |
| Total assets | $1,198,325 | $967,162 | $1,050,014 | $676,672 | $634,582 |
| Liabilities | 2022 | 2021 | 2020 | 2019 | 2018 |
| Payables and accrued expenses | $103,816 | $129,142 | $140,175 | $156,118 | $105,090 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $103,816 | $129,142 | $140,175 | $156,118 | $105,090 |
| Debt | $0 | $0 | $0 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $173,849 | $0 | $0 | $0 | $0 |
| Total long-term liabilities | $173,849 | $0 | $0 | $0 | $0 |
| Total liabilities | $277,665 | $129,142 | $140,175 | $156,118 | $105,090 |
| Net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Without donor restrictions | $20,410 | ($208,767) | ($248,164) | ($721,907) | ($549,316) |
| With donor restrictions | $900,250 | $1,046,787 | $1,158,003 | $1,242,461 | $1,078,808 |
| Net assets | $920,660 | $838,020 | $909,839 | $520,554 | $529,492 |
| Revenues and expenses | |||||
| Revenue | 2022 | 2021 | 2020 | 2019 | 2018 |
| Total contributions | $5,778,835 | $6,048,816 | $7,654,050 | $8,007,656 | $7,239,191 |
| Program service revenue | $0 | $0 | $0 | $0 | $0 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $2,548 | $1,713 | $2,883 | $3,050 | $1,012 |
| Other revenue | $0 | $0 | $522 | $3,088 | $77,944 |
| Total other revenue | $2,548 | $1,713 | $3,405 | $6,138 | $78,956 |
| Total revenue | $5,781,383 | $6,050,529 | $7,657,455 | $8,013,794 | $7,318,147 |
| Expenses | 2022 | 2021 | 2020 | 2019 | 2018 |
| Program services | $4,678,431 | $4,992,913 | $6,083,708 | $6,865,111 | $7,412,842 |
| Management and general | $625,078 | $650,455 | $703,366 | $783,700 | $533,037 |
| Fundraising | $364,591 | $457,475 | $448,982 | $414,319 | $467,044 |
| Total expenses | $5,668,100 | $6,100,843 | $7,236,056 | $8,063,130 | $8,412,923 |
| Change in net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Surplus (deficit) | $113,283 | ($50,314) | $421,399 | ($49,336) | ($1,094,776) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $113,283 | ($50,314) | $421,399 | ($49,336) | ($1,094,776) |
Compensation
| Name | Title | Compensation |
| Ken Sparks | President and CEO | $168,069 |
| Wil Crooks | VP of Strategic Partnerships | $110,094 |
| Leona Strait | Controller | $71,743 |
Compensation data as of: 9/30/2022
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 2/22/2023. To update the information below, please email: [email protected]
History
For a timeline, visit: https://www.hopechest.org/about/