Hopeco EIN 58-1821149 Form 990 (PDF) Claim this org

Hopeco FY2020 filing

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Provides holistic care to vulnerable children, families, and communities in East Africa. For fiscal year 2020 it reported $684K in revenue, $755K in expenses, and $325K in net assets.Pt I

Type
Public charity (501(c)(3)) · Nonprofit
Location
Martinsville, VA
Website
www.joinhopeco.com
Filings
5 on file (2020–2020)
Revenue
$684KFY2020
Expenses
$755K
Net assets
$325K
People
9
Filings
5
Updates
0
More identity details & actions ⌄
EIN  58-1821149 Public charity (501(c)(3)) Martinsville, VA
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Figures match the IRS filing checked 9/2/26 · see original: IRS
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Size
$1–10M
What they do
Provides holistic care to vulnerable children, families, and communities in East Africa.
Leadership
Matt Parker · Chief Executive Officer · $62K
Money in and out
$684K revenue, $755K expenses
Bottom line
81% program efficiency
Where the money goes · FY2020
Total revenue
$684K
Pt VIII · Ln 12
Total expenses
$755K
Pt IX · Ln 25
Net assets
$325K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$71K
Where spending went · Part IX cols B–D
Program services $0.81 Management & general $0.13 Fundraising $0.07
Program efficiency
81%
of spending reaches programs
Operating runway
5.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
-10%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$684K
FY2020
Expenses
$755K
FY2020
Total assets
$347K
FY2020
Total liabilities
$21K
FY2020
Total revenue
$684K
Pt VIII · Ln 12
Total expenses
$755K
Pt IX · Ln 25
Net assets
$325K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$71K
Total assetsPt X · Ln 16$347K
Program-expense ratioPt IX · col B81%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 44

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CHopeco
EINHdr · item D58-1821149
Principal addressHdr · item CMartinsville, VA
WebsiteHdr · item Jwww.joinhopeco.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MVA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFOct 1989

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b4
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chief Executive Officer
$61,750Pt VII · Sec A
Finance Director
$46,224Pt VII · Sec A
President
$33,171Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Chairman
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Alfred Lackey$96,000$6,400
Matt Parker$91,413$96,000$81,500$61,750
Lisa Wilkerson$55,925$51,371
Regina Chacha$52,800$52,771$52,500$21,608$33,171
Lisa Honaker$50,871$33,270$46,224

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

3 program services account for $608K of program spending, described in the organization's own filed words · FY2020.
01

Care for orphans, vulnerable children, women, and other adults in Tanzania and Kenya. HopeCo funded a children's home for 85 children, a primary school and secondary school for up to 500 children, empowerment programs for women, university education, and a medical center for an impoverished community.

$538Kprogram expense
02

HopeCo supports with the education and care of 33 Tanzanian students who are studying in the USA at a Christian boarding school or at college.

$43Kprogram expense
03

Teamwork Bible College Internation operates under the umbrella of HopeCo to offer Christian education programs. The school provides curriculum and administration to affiliated schools who offer classes as part of various degree programs.

$27Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$417K · 61%
Program service revenue$248K · 36%
Other revenue$18K · 3%
Contributions & grants61%$417K
Program service revenue36%$248K
Other revenue3%$18K
Investment income$1K
Total revenueLn 12$684K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.81 Management & general $0.13 Fundraising $0.07
Program services81%$609K
Management & general13%$94K
Fundraising7%$52K
Total functional expensesLn 25$755K

Balance Sheet

Part X · end of year
CashLn 1$278K
Total assetsLn 16$347K
Total liabilitiesLn 26$21K
Total net assetsLn 32$325K
Months of cash on handcomputed4.4

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $316K · Operating expenses/yr $755K
5.0 months
Where the money goes
Program services
Program services $609K · Total expenses $755K
81%
Management & General
Management & general $94K · Total expenses $755K
13%
Fundraising
Fundraising $52K · Total expenses $755K
7%
Cost to raise $1
Fundraising expense $52K · Solicited contributions $417K
$0.12 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $417K · Total revenue $684K
61%
Government reliance
Government grants — · Total revenue $684K
Earned-income share
Program service revenue $248K · Total revenue $684K
36%
Investment reliance
Investment income $1K · Total revenue $684K
+0.2%
Program self-sufficiency
Program service revenue $248K · Total expenses $755K
33%
Growth & trend
Revenue growth (YoY)
This year $684K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $325K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $684K · Expenses $755K
-10%
Liabilities-to-Assets
Total liabilities — · Total assets $347K
Net-asset ratio
Net assets $325K · Total assets $347K
94%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $38K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $347K
11%
People & payroll
Highest Reported Total Compensation
Individual Matt Parker · Reported title Chief Executive Officer · Highest reported compensation $62K · Total expenses $755K
8%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $234K · Total expenses $755K
31%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 81%
Overhead ratio 13%
Fundraising cost ratio 12%
Legal fee ratio 1%
Accounting fee ratio 0.5%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 4 funders$106K
See all 4 funders →
Grants paid · 2 grants · $417K · 2020–2021
Unitemized GrantFY2021$404,795
Unitemized GrantFY2020$12,536

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$2.4M revenue · ⤓ 990 PDF
FY2023$1.7M revenue · ⤓ 990 PDF
FY2022$1.3M revenue · ⤓ 990 PDF
FY2021$1.2M revenue · ⤓ 990 PDF
FY2020$684K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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