Children's HopeChest

The information on this page was last updated 6/14/2024. 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: George Steiner

Ruling year: 1994

Tax deductible: Yes

Fiscal year end: 09/30

Member of ECFA: Yes

Member of ECFA since: 1999


Purpose

To Ignite Hope in the World


Mission statement

Inspired by Christ's love, Children's HopeChest releases the potential existing within vulnerable communities, starting with the children.


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 rating619 of 111564 of 123
Fund acquisition rating807 of 111684 of 123
Resource allocation rating790 of 111681 of 123
Asset utilization rating168 of 111520 of 123

Financial ratios

Funding ratiosSector median20242023202220212020
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
5%8%8%6%8%6%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
5%8%8%6%8%6%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
98%99%100%100%100%100%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
5%9%8%6%7%6%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
2%1%0%0%0%0%
 
Operating ratiosSector median20242023202220212020
Program expense ratio Program expense ratio =
Program services /
Total expenses
84%81%81%83%82%84%
Spending ratio Spending ratio =
Total expenses /
Total revenue
99%95%96%98%101%94%
Program output ratio Program output ratio =
Program services /
Total revenue
85%76%78%81%83%79%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
1%5%4%2%-1%6%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%25%23%12%-6%46%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
9%11%11%11%11%10%
 
Investing ratiosSector median20242023202220212020
Total asset turnover Total asset turnover =
Total expenses /
Total assets
1.383.594.124.736.316.89
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.301.081.151.271.131.16
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.283.874.755.997.157.99
 
Liquidity ratiosSector median20242023202220212020
Current ratio Current ratio =
Total current assets /
Total current liabilities
18.207.977.919.116.616.46
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.050.130.130.110.150.15
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.052.712.211.781.421.27
 
Solvency ratiosSector median20242023202220212020
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
7%18%21%23%13%13%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
62%23%19%16%14%13%

Financials

Balance sheet
 
Assets20242023202220212020
Cash$1,593,200$1,209,956$870,356$797,092$864,769
Receivables, inventories, prepaids$40,328$85,183$75,766$56,287$40,662
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$1,633,528$1,295,139$946,122$853,379$905,431
Long-term investments$0$0$0$0$0
Fixed assets$24,663$60,607$79,765$110,939$138,327
Other long-term assets$100,535$137,295$172,438$2,844$6,256
Total long-term assets$125,198$197,902$252,203$113,783$144,583
Total assets$1,758,726$1,493,041$1,198,325$967,162$1,050,014
 
Liabilities20242023202220212020
Payables and accrued expenses$204,919$163,654$103,816$129,142$140,175
Other current liabilities$0$0$0$0$0
Total current liabilities$204,919$163,654$103,816$129,142$140,175
Debt$0$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$108,600$143,311$173,849$0$0
Total long-term liabilities$108,600$143,311$173,849$0$0
Total liabilities$313,519$306,965$277,665$129,142$140,175
 
Net assets20242023202220212020
Without donor restrictions$548,735$549,394$20,410($208,767)($248,164)
With donor restrictions$896,472$636,682$900,250$1,046,787$1,158,003
Net assets$1,445,207$1,186,076$920,660$838,020$909,839
 
Revenues and expenses
 
Revenue20242023202220212020
Total contributions$6,624,607$6,401,538$5,778,835$6,048,816$7,654,050
Program service revenue$0$0$0$0$0
Membership dues$0$0$0$0$0
Investment income$54,892$12,985$2,548$1,713$2,883
Other revenue$0$0$0$0$522
Total other revenue$54,892$12,985$2,548$1,713$3,405
Total revenue$6,679,499$6,414,523$5,781,383$6,050,529$7,657,455
 
Expenses20242023202220212020
Program services$5,095,064$4,985,332$4,678,431$4,992,913$6,083,708
Management and general$683,881$666,029$625,078$650,455$703,366
Fundraising$540,619$496,249$364,591$457,475$448,982
Total expenses$6,319,564$6,147,610$5,668,100$6,100,843$7,236,056
 
Change in net assets20242023202220212020
Surplus (deficit)$359,935$266,913$113,283($50,314)$421,399
Other changes in net assets$0$0$0$0$0
Total change in net assets$359,935$266,913$113,283($50,314)$421,399

Compensation

NameTitleCompensation
Ken SparksPresident and CEO$179,825
Leona StraitController$126,291
Wil CrooksVP of Strategic Partnerships$114,798

Compensation data as of: 9/30/2024


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 6/14/2024. To update the information below, please email: [email protected]


History

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


Program accomplishments


Needs