Hope Mission of Carteret County 
The information on this page was last updated 7/11/2022. If you see errors or omissions, please email: [email protected]
Summary
Hope Mission of Carteret County, Inc. is a 501(c) 3 non-profit organization. Hope Mission serves the Carteret County community by providing food, shelter, emergency financial assistance, and other means of support such as emotional support, mentoring and counseling.
Contact information
Mailing address:
Hope Mission of Carteret County
1209 Arendell Street
Morehead City, NC 28557
Website: hopemissionnc.org
Phone: 252-240-2359
Email: [email protected]
Organization details
EIN: 561757998
CEO/President: Gene McLendon
Chairman: Stephen Sullivan
Board size: 7
Founder: Faith and Victory Church
Ruling year: 1992
Tax deductible: Yes
Fiscal year end: 12/31
Member of ECFA: No
Member of ECFA since:
Purpose
At Hope Mission, we believe that homeless folks and those that are on the edge or have substance abuse issues have lost their sense of identity. Much of the time that loss of a sense of identity is because of the disconnection from family and community. At Hope Mission, we do everything we can to give them back that sense of belonging.
Mission statement
The mission of Hope Mission is to address the needs of poverty, homelessness, and substance abuse in Carteret County.
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 | | 2 of 1033 | 1 of 161 |
| Fund acquisition rating | | 33 of 1035 | 1 of 161 |
| Resource allocation rating | | 8 of 1035 | 2 of 161 |
| Asset utilization rating | | 29 of 1033 | 6 of 161 |
Financial ratios
| Funding ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 9% | 0% | 2% | 1% | 3% | 5% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 8% | 0% | 2% | 1% | 3% | 5% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 91% | 100% | 100% | 100% | 100% | 100% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 10% | 0% | 2% | 1% | 4% | 6% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 9% | 0% | 0% | 0% | 0% | 0% |
| Operating ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Program expense ratio Program expense ratio = Program services / Total expenses | 80% | 100% | 90% | 94% | 88% | 89% |
Spending ratio Spending ratio = Total expenses / Total revenue | 87% | 99% | 105% | 113% | 81% | 83% |
Program output ratio Program output ratio = Program services / Total revenue | 69% | 99% | 94% | 106% | 71% | 74% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 13% | 1% | -5% | -13% | 19% | 17% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 11% | 11% | -11% | -7% | 17% | 15% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 9% | 0% | 9% | 5% | 8% | 6% |
| Investing ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.55 | 6.62 | 2.06 | 0.64 | 0.69 | 0.72 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.97 | 1.00 | 2.83 | 1.25 | 1.35 | 1.48 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.74 | 6.62 | 5.84 | 0.80 | 0.93 | 1.06 |
| Liquidity ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Current ratio Current ratio = Total current assets / Total current liabilities | 14.30 | 155.84 | 38.37 | 387.74 | 0.00 | 0.00 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.07 | 0.01 | 0.03 | 0.00 | 0.00 | 0.00 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 5.79 | 1.80 | 2.00 | 14.96 | 12.93 | 11.31 |
| Solvency ratios | Sector median | 2020 | 2019 | 2018 | 2017 | 2016 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 9% | 12% | 5% | 2% | 2% | 2% |
Debt ratio Debt ratio = Debt / Total assets | 2% | 0% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 150% | 13% | 46% | 154% | 143% | 136% |
Financials
| Balance sheet | |||||
| Assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Cash | $61,714 | $56,672 | $416,045 | $282,508 | $199,177 |
| Receivables, inventories, prepaids | $0 | $0 | $0 | $12,083 | $18,258 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $61,714 | $56,672 | $416,045 | $294,591 | $217,435 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $0 | $103,666 | $103,666 | $103,666 | $103,666 |
| Other long-term assets | $0 | $0 | $0 | $0 | $0 |
| Total long-term assets | $0 | $103,666 | $103,666 | $103,666 | $103,666 |
| Total assets | $61,714 | $160,338 | $519,711 | $398,257 | $321,101 |
| Liabilities | 2020 | 2019 | 2018 | 2017 | 2016 |
| Payables and accrued expenses | $396 | $1,477 | $1,073 | $0 | $0 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $396 | $1,477 | $1,073 | $0 | $0 |
| Debt | $0 | $0 | $0 | $0 | $0 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $7,093 | $7,093 | $7,093 | $7,093 | $7,093 |
| Total long-term liabilities | $7,093 | $7,093 | $7,093 | $7,093 | $7,093 |
| Total liabilities | $7,489 | $8,570 | $8,166 | $7,093 | $7,093 |
| Net assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Without donor restrictions | $54,225 | $151,768 | $511,545 | $391,164 | $314,008 |
| With donor restrictions | $0 | $0 | $0 | $0 | $0 |
| Net assets | $54,225 | $151,768 | $511,545 | $391,164 | $314,008 |
| Revenues and expenses | |||||
| Revenue | 2020 | 2019 | 2018 | 2017 | 2016 |
| Total contributions | $414,404 | $314,477 | $295,096 | $339,083 | $277,012 |
| Program service revenue | $0 | $0 | $0 | $0 | $0 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $0 | $0 | $0 | $0 | $0 |
| Other revenue | $0 | $0 | $0 | $0 | $0 |
| Total other revenue | $0 | $0 | $0 | $0 | $0 |
| Total revenue | $414,404 | $314,477 | $295,096 | $339,083 | $277,012 |
| Expenses | 2020 | 2019 | 2018 | 2017 | 2016 |
| Program services | $408,280 | $296,768 | $312,940 | $239,823 | $204,366 |
| Management and general | $0 | $29,015 | $16,903 | $22,298 | $12,913 |
| Fundraising | $0 | $5,165 | $3,046 | $11,284 | $13,419 |
| Total expenses | $408,280 | $330,948 | $332,889 | $273,405 | $230,698 |
| Change in net assets | 2020 | 2019 | 2018 | 2017 | 2016 |
| Surplus (deficit) | $6,124 | ($16,471) | ($37,793) | $65,678 | $46,314 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $6,124 | ($16,471) | ($37,793) | $65,678 | $46,314 |
Compensation
Compensation data for this ministry has not been collected.
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 7/11/2022. To update the information below, please email: [email protected]
History
Faith and Victory Church started Hope Mission Soup Kitchen in January of 1990. The church members recognized a need in the community and had a desire to fill that need, by providing hot meals for anyone that needed one.
July 29, 1991 - Hope Mission of Carteret County, Inc. incorporated, still operating out of the Faith and Victory location
October of 1991 - Hope Mission Soup Kitchen moved to 1306 Arendell St., Morehead City
April of 1992 - Hope Mission purchased the building at 1412 Bridges Street with the assistance of local charitable organizations, churches, businesses and private individuals. Habitat for Humanity remodeled the building at 1412 Bridges Street and built the building at 1410 Bridges Street, where the Soup Kitchen is currently.
Nearly 30 years later, Faith and Victory Church is no longer around. But at Hope Mission, we work every day to model and honor their example.
Hope Mission Soup Kitchen: Hope Mission is still financed largely by contributions from businesses, individuals, civic groups and churches. It truly is a "whole community endeavor".
A Board of Directors oversees this ministry and Gene McLendon, our Executive Director keeps things running smoothly on a daily basis.
Over the years, Hope Mission has expanded to fill more of the needs of the community. Currently, Hope Mission operates a Men's Homeless Shelter, a Women's Homeless Shelter and a Soup Kitchen. Other members of the Hope Mission family include the Hope Mission Thrift Store, which helps provide funding for the shelters and kitchen and Hope Recovery Homes, a very successful drug and alcohol recovery program.
Program accomplishments
39,150 Meals Served in 2021
2,110 Nights of Shelter in 2021
$26,589 Emergency Assistance in 2021