Refuge of Hope Ministries 
The information on this page was last updated 8/6/2024. 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: No
Member of ECFA since:
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
Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Rescue Missions/Homeless Shelters
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 496 of 1118 | 63 of 141 |
| Fund acquisition rating | | 405 of 1119 | 46 of 141 |
| Resource allocation rating | | 333 of 1119 | 45 of 141 |
| Asset utilization rating | | 830 of 1118 | 115 of 141 |
Financial ratios
| Funding ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 12% | 9% | 8% | 7% | 8% | 11% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 10% | 9% | 8% | 7% | 8% | 18% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 93% | 98% | 100% | 100% | 99% | 159% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 11% | 10% | 10% | 11% | 12% | 12% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 7% | 2% | 0% | 0% | 1% | -59% |
| Operating ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Program expense ratio Program expense ratio = Program services / Total expenses | 78% | 83% | 84% | 82% | 81% | 81% |
Spending ratio Spending ratio = Total expenses / Total revenue | 93% | 85% | 74% | 63% | 72% | 148% |
Program output ratio Program output ratio = Program services / Total revenue | 73% | 71% | 62% | 52% | 59% | 120% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 7% | 15% | 26% | 37% | 28% | -48% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 5% | 5% | 9% | 14% | 10% | -9% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 9% | 7% | 5% | 6% | 7% | 7% |
| Investing ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.53 | 0.29 | 0.25 | 0.23 | 0.26 | 0.26 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.85 | 2.69 | 2.91 | 2.80 | 2.51 | 2.82 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.74 | 0.77 | 0.72 | 0.66 | 0.64 | 0.75 |
| Liquidity ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Current ratio Current ratio = Total current assets / Total current liabilities | 11.95 | 109.26 | 127.80 | 145.98 | 187.61 | 6.91 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.08 | 0.01 | 0.01 | 0.01 | 0.01 | 0.14 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.06 | 15.40 | 16.51 | 18.14 | 18.54 | 13.76 |
| Solvency ratios | Sector median | 2023 | 2022 | 2021 | 2020 | 2019 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 9% | 0% | 0% | 0% | 0% | 5% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 154% | 348% | 403% | 425% | 389% | 358% |
Financials
| Balance sheet | |||||
| Assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Cash | $1,412,651 | $3,166,820 | $2,895,949 | $2,738,928 | $2,204,383 |
| Receivables, inventories, prepaids | $183,223 | $71,050 | $175,644 | $203,759 | $277,264 |
| Short-term investments | $2,109,397 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $3,705,271 | $3,237,870 | $3,071,593 | $2,942,687 | $2,481,647 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $6,277,578 | $6,186,724 | $5,504,773 | $4,419,081 | $4,477,800 |
| Other long-term assets | $0 | $0 | $11,000 | $23,000 | $29,000 |
| Total long-term assets | $6,277,578 | $6,186,724 | $5,515,773 | $4,442,081 | $4,506,800 |
| Total assets | $9,982,849 | $9,424,594 | $8,587,366 | $7,384,768 | $6,988,447 |
| Liabilities | 2023 | 2022 | 2021 | 2020 | 2019 |
| Payables and accrued expenses | $33,913 | $25,335 | $21,041 | $15,685 | $359,204 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $33,913 | $25,335 | $21,041 | $15,685 | $359,204 |
| 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 | $33,913 | $25,335 | $21,041 | $15,685 | $359,204 |
| Net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Without donor restrictions | $9,740,376 | $9,109,698 | $6,837,508 | $6,422,977 | $5,755,156 |
| With donor restrictions | $208,560 | $289,561 | $1,728,817 | $946,106 | $874,087 |
| Net assets | $9,948,936 | $9,399,259 | $8,566,325 | $7,369,083 | $6,629,243 |
| Revenues and expenses | |||||
| Revenue | 2023 | 2022 | 2021 | 2020 | 2019 |
| Total contributions | $3,288,631 | $3,159,160 | $3,205,736 | $2,596,150 | $1,976,175 |
| Program service revenue | $0 | $0 | $0 | $0 | $0 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $82,163 | $5,994 | $7,614 | $10,873 | ($737,727) |
| Other revenue | ($13,479) | $2,300 | $1,598 | $27,309 | $8,121 |
| Total other revenue | $68,684 | $8,294 | $9,212 | $38,182 | ($729,606) |
| Total revenue | $3,357,315 | $3,167,454 | $3,214,948 | $2,634,332 | $1,246,569 |
| Expenses | 2023 | 2022 | 2021 | 2020 | 2019 |
| Program services | $2,380,204 | $1,968,190 | $1,663,552 | $1,543,799 | $1,492,415 |
| Management and general | $190,430 | $126,614 | $128,780 | $130,918 | $133,733 |
| Fundraising | $290,742 | $239,716 | $225,374 | $219,775 | $224,774 |
| Total expenses | $2,861,376 | $2,334,520 | $2,017,706 | $1,894,492 | $1,850,922 |
| Change in net assets | 2023 | 2022 | 2021 | 2020 | 2019 |
| Surplus (deficit) | $495,939 | $832,934 | $1,197,242 | $739,840 | ($604,353) |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $495,939 | $832,934 | $1,197,242 | $739,840 | ($604,353) |
Compensation
| Name | Title | Compensation |
| Duane Wykoff | CEO | $75,481 |
Compensation data as of: 12/31/2023
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 8/6/2024. 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.