Refuge of Hope Ministries

The information on this page was last updated 11/10/2023. 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: 11

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 rating508 of 110465 of 140
Fund acquisition rating323 of 110537 of 140
Resource allocation rating342 of 110539 of 140
Asset utilization rating909 of 1104126 of 140

Financial ratios

Funding ratiosSector median20222021202020192018
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
11%8%7%8%11%8%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
10%8%7%8%18%8%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
93%100%100%99%159%100%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
11%10%11%12%12%12%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
7%0%0%1%-59%0%
 
Operating ratiosSector median20222021202020192018
Program expense ratio Program expense ratio =
Program services /
Total expenses
79%84%82%81%81%82%
Spending ratio Spending ratio =
Total expenses /
Total revenue
89%74%63%72%148%65%
Program output ratio Program output ratio =
Program services /
Total revenue
70%62%52%59%120%53%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
11%26%37%28%-48%35%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
7%9%14%10%-9%13%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
9%5%6%7%7%7%
 
Investing ratiosSector median20222021202020192018
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.520.250.230.260.260.22
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
2.712.912.802.512.821.60
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.680.720.660.640.750.36
 
Liquidity ratiosSector median20222021202020192018
Current ratio Current ratio =
Total current assets /
Total current liabilities
13.91127.80145.98187.616.9111.12
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.070.010.010.010.140.09
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
6.4616.5118.1418.5413.7630.73
 
Solvency ratiosSector median20222021202020192018
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
8%0%0%0%5%6%
Debt ratio Debt ratio =
Debt /
Total assets
1%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
160%403%425%389%358%424%

Financials

Balance sheet
 
Assets20222021202020192018
Cash$3,166,820$2,895,949$2,738,928$2,204,383$3,900,915
Receivables, inventories, prepaids$71,050$175,644$203,759$277,264$896,365
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$3,237,870$3,071,593$2,942,687$2,481,647$4,797,280
Long-term investments$0$0$0$0$0
Fixed assets$6,186,724$5,504,773$4,419,081$4,477,800$2,867,817
Other long-term assets$0$11,000$23,000$29,000$0
Total long-term assets$6,186,724$5,515,773$4,442,081$4,506,800$2,867,817
Total assets$9,424,594$8,587,366$7,384,768$6,988,447$7,665,097
 
Liabilities20222021202020192018
Payables and accrued expenses$25,335$21,041$15,685$359,204$431,501
Other current liabilities$0$0$0$0$0
Total current liabilities$25,335$21,041$15,685$359,204$431,501
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$25,335$21,041$15,685$359,204$431,501
 
Net assets20222021202020192018
Without donor restrictions$9,109,698$6,837,508$6,422,977$5,755,156$2,051,049
With donor restrictions$289,561$1,728,817$946,106$874,087$5,182,547
Net assets$9,399,259$8,566,325$7,369,083$6,629,243$7,233,596
 
Revenues and expenses
 
Revenue20222021202020192018
Total contributions$3,159,160$3,205,736$2,596,150$1,976,175$2,619,266
Program service revenue$0$0$0$0$0
Membership dues$0$0$0$0$0
Investment income$5,994$7,614$10,873($737,727)$11,751
Other revenue$2,300$1,598$27,309$8,121($1,182)
Total other revenue$8,294$9,212$38,182($729,606)$10,569
Total revenue$3,167,454$3,214,948$2,634,332$1,246,569$2,629,835
 
Expenses20222021202020192018
Program services$1,968,190$1,663,552$1,543,799$1,492,415$1,389,493
Management and general$126,614$128,780$130,918$133,733$114,418
Fundraising$239,716$225,374$219,775$224,774$200,704
Total expenses$2,334,520$2,017,706$1,894,492$1,850,922$1,704,615
 
Change in net assets20222021202020192018
Surplus (deficit)$832,934$1,197,242$739,840($604,353)$925,220
Other changes in net assets$0$0$0$0$0
Total change in net assets$832,934$1,197,242$739,840($604,353)$925,220

Compensation

NameTitleCompensation
Duane WykoffCEO$75,481

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 11/10/2023. To update the information below, please email: [email protected]


History


Program accomplishments

Last year:
82,989 hot, nutritious meals
13,799 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.