Refuge of Hope Ministries

The information on this page was last updated 11/15/2022. If you see errors or omissions, please email: [email protected]


Summary

Refuge of Hope gives individuals in the Canton area a place to turn when all hope feels lost. Through our food, clothing, shelter, and healthcare ministries, we seek to embody God's love by serving those who face poverty, homelessness, and other dire situations.


Contact information

Mailing address:
Refuge of Hope Ministries
PO Box 9361
Canton, OH 44711

Website: refugeofhope.org

Phone: 330-453-1785

Email: [email protected]


Organization details

EIN: 341965221

CEO/President: Duane Wykoff

Chairman: Michelle Cordova

Board size: 14

Founder:

Ruling year: 2002

Tax deductible: Yes

Fiscal year end: 12/31

Member of ECFA: Yes

Member of ECFA since: 2008


Purpose

Our vision is to transform lives by providing hope that elevates people to reach their God-given potential.


Mission statement

Our mission is to glorify and serve God by providing meals for hungry men, women, and children, emergency shelter and transition to independence for homeless men, and spiritual hope through Jesus Christ.


Statement of faith

Donor confidence score

Show donor confidence score details

Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Rescue Missions/Homeless Shelters

CategoryRatingOverall rankSector rank
Overall efficiency rating566 of 102290 of 155
Fund acquisition rating433 of 102570 of 155
Resource allocation rating464 of 102565 of 155
Asset utilization rating742 of 1022124 of 155

Financial ratios

Funding ratiosSector median20202019201820172016
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
9%8%11%8%5%12%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
8%8%18%8%5%12%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
92%99%159%100%100%100%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
10%12%12%12%19%13%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
8%1%-59%0%0%0%
 
Operating ratiosSector median20202019201820172016
Program expense ratio Program expense ratio =
Program services /
Total expenses
79%81%81%82%76%81%
Spending ratio Spending ratio =
Total expenses /
Total revenue
85%72%148%65%26%90%
Program output ratio Program output ratio =
Program services /
Total revenue
67%59%120%53%20%73%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
15%28%-48%35%74%10%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
12%10%-9%13%70%9%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
9%7%7%7%5%7%
 
Investing ratiosSector median20202019201820172016
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.530.260.260.220.250.85
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.922.512.821.601.202.19
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.620.640.750.360.301.86
 
Liquidity ratiosSector median20202019201820172016
Current ratio Current ratio =
Total current assets /
Total current liabilities
14.19187.616.9111.12231.8124.73
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.070.010.140.090.000.04
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
6.1018.5413.7630.7340.286.20
 
Solvency ratiosSector median20202019201820172016
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
8%0%5%6%0%2%
Debt ratio Debt ratio =
Debt /
Total assets
1%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
155%389%358%424%404%115%

Financials

Balance sheet
 
Assets20202019201820172016
Cash$2,738,928$2,204,383$3,900,915$3,411,131$828,377
Receivables, inventories, prepaids$203,759$277,264$896,365$1,853,647$40,560
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$2,942,687$2,481,647$4,797,280$5,264,778$868,937
Long-term investments$0$0$0$0$0
Fixed assets$4,419,081$4,477,800$2,867,817$974,329$1,009,730
Other long-term assets$23,000$29,000$0$91,981$20,380
Total long-term assets$4,442,081$4,506,800$2,867,817$1,066,310$1,030,110
Total assets$7,384,768$6,988,447$7,665,097$6,331,088$1,899,047
 
Liabilities20202019201820172016
Payables and accrued expenses$15,685$359,204$431,501$22,712$35,131
Other current liabilities$0$0$0$0$0
Total current liabilities$15,685$359,204$431,501$22,712$35,131
Debt$0$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$0$0$0$0$0
Total long-term liabilities$0$0$0$0$0
Total liabilities$15,685$359,204$431,501$22,712$35,131
 
Net assets20202019201820172016
Without donor restrictions$6,422,977$5,755,156$2,051,049$1,802,023$1,818,176
With donor restrictions$946,106$874,087$5,182,547$4,506,353$45,740
Net assets$7,369,083$6,629,243$7,233,596$6,308,376$1,863,916
 
Revenues and expenses
 
Revenue20202019201820172016
Total contributions$2,596,150$1,976,175$2,619,266$6,002,716$1,791,248
Program service revenue$0$0$0$0$0
Membership dues$0$0$0$0$0
Investment income$10,873($737,727)$11,751$3,105$2,288
Other revenue$27,309$8,121($1,182)$163($7,241)
Total other revenue$38,182($729,606)$10,569$3,268($4,953)
Total revenue$2,634,332$1,246,569$2,629,835$6,005,984$1,786,295
 
Expenses20202019201820172016
Program services$1,543,799$1,492,415$1,389,493$1,191,383$1,301,481
Management and general$130,918$133,733$114,418$81,021$105,942
Fundraising$219,775$224,774$200,704$289,120$206,399
Total expenses$1,894,492$1,850,922$1,704,615$1,561,524$1,613,822
 
Change in net assets20202019201820172016
Surplus (deficit)$739,840($604,353)$925,220$4,444,460$172,473
Other changes in net assets$0$0$0$0$0
Total change in net assets$739,840($604,353)$925,220$4,444,460$172,473

Compensation

NameTitleCompensation
Duane WykoffCEO$68,779

Compensation data as of: 12/31/2020


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 11/15/2022. To update the information below, please email: [email protected]


History


Program accomplishments

Last year:
67,137 hot, nutritious meals
11,516 safe, bedded nights


Needs

Your generosity enables us to serve hot and nutritious meals free to the community in a family-style setting Monday through Saturday. Our numbers are growing more every day. Even the smallest contribution is sincerely appreciated.