Refuge of Hope Ministries 
The information in this column was provided to MinistryWatch by the ministry itself. It was last updated 12/28/2020. To update the information in this column, please email: info@ministrywatch.com
Summary
Refuge of Hope is a faith-based, non-profit, Christian rescue mission providing safe, sober, emergency transitional shelter for men and hot, nutritious meals for hungry men, women, and children in Stark County. Refuge of Hope's shelter is not just a place where a homeless man can sleep at night. Rather, it's a support center, in a safe environment, where men can come to grips with the personal, economical and societal issues that caused them to become homeless. We provide a hand up to encourage homeless men, to help them realize that positive life changes are possible regardless of their current circumstances.
Contact information
Mailing address:
Refuge of Hope Ministries
PO Box 9361
Canton, OH 44711
Website: refugeofhope.org
Phone: 330-453-1785
Email: jcarpenter@refugeofhope.org
Organization details
EIN: 341965221
CEO/President: Duane Wykoff
Chairman: Randy Snow
Board size: 15
Founder:
Year founded: 2002
Tax deductible: Yes
Fiscal year end: 12/31
Member of ECFA: Yes
Member of ECFA since: 2008
Purpose
Transform lives by providing hope that elevates people to reach their God-given potential. Our goal is to help homeless men understand the love of Jesus Christ and achieve the stability necessary to be a positive contributor in our community. Our goal, in addition to serving hot, nutritious meals, is to meet the physical, emotional and spiritual needs of hurting individuals and families. We strive to go the extra mile by treating our lunch and dinner guests with love, compassion, and respect by providing the hope and encouragement they need.
Mission statement
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
Transparency grade
A
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Rescue Missions/Homeless Shelters
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 596 of 913 | 104 of 160 |
| Fund acquisition rating | | 572 of 915 | 99 of 160 |
| Resource allocation rating | | 391 of 915 | 65 of 160 |
| Asset utilization rating | | 629 of 913 | 122 of 160 |
Financial ratios
| Funding ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 10% | 11% | 8% | 5% | 12% | 10% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 9% | 18% | 8% | 5% | 12% | 10% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 91% | 159% | 100% | 100% | 100% | 100% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 10% | 12% | 12% | 19% | 13% | 11% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 9% | -59% | 0% | 0% | 0% | 0% |
| Operating ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Program expense ratio Program expense ratio = Program services / Total expenses | 79% | 81% | 82% | 76% | 81% | 81% |
Spending ratio Spending ratio = Total expenses / Total revenue | 96% | 148% | 65% | 26% | 90% | 89% |
Program output ratio Program output ratio = Program services / Total revenue | 76% | 120% | 53% | 20% | 73% | 72% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 4% | -48% | 35% | 74% | 10% | 11% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 3% | -9% | 13% | 70% | 9% | 10% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 9% | 7% | 7% | 5% | 7% | 8% |
| Investing ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.58 | 0.26 | 0.22 | 0.25 | 0.85 | 0.77 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 3.76 | 2.82 | 1.60 | 1.20 | 2.19 | 2.57 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 2.26 | 0.75 | 0.36 | 0.30 | 1.86 | 1.98 |
| Liquidity ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Current ratio Current ratio = Total current assets / Total current liabilities | 10.19 | 6.91 | 11.12 | 231.81 | 24.73 | 37.75 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.08 | 0.14 | 0.09 | 0.00 | 0.04 | 0.03 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 4.45 | 13.76 | 30.73 | 40.28 | 6.20 | 5.90 |
| Solvency ratios | Sector median | 2019 | 2018 | 2017 | 2016 | 2015 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 10% | 5% | 6% | 0% | 2% | 1% |
Debt ratio Debt ratio = Debt / Total assets | 1% | 0% | 0% | 0% | 0% | 0% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 141% | 358% | 424% | 404% | 115% | 128% |
Financials
| Balance sheet | |||||
| Assets | 2019 | 2018 | 2017 | 2016 | 2015 |
| Cash | $2,204,383 | $3,900,915 | $3,411,131 | $828,377 | $644,019 |
| Receivables, inventories, prepaids | $277,264 | $896,365 | $1,853,647 | $40,560 | $21,264 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $2,481,647 | $4,797,280 | $5,264,778 | $868,937 | $665,283 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $4,477,800 | $2,867,817 | $974,329 | $1,009,730 | $1,043,782 |
| Other long-term assets | $29,000 | $0 | $91,981 | $20,380 | $0 |
| Total long-term assets | $4,506,800 | $2,867,817 | $1,066,310 | $1,030,110 | $1,043,782 |
| Total assets | $6,988,447 | $7,665,097 | $6,331,088 | $1,899,047 | $1,709,065 |
| Liabilities | 2019 | 2018 | 2017 | 2016 | 2015 |
| Payables and accrued expenses | $359,204 | $431,501 | $22,712 | $35,131 | $17,622 |
| Other current liabilities | $0 | $0 | $0 | $0 | $0 |
| Total current liabilities | $359,204 | $431,501 | $22,712 | $35,131 | $17,622 |
| 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 | $359,204 | $431,501 | $22,712 | $35,131 | $17,622 |
| Net assets | 2019 | 2018 | 2017 | 2016 | 2015 |
| Without donor restrictions | $5,755,156 | $2,051,049 | $1,802,023 | $1,818,176 | $1,657,387 |
| With donor restrictions | $874,087 | $5,182,547 | $4,506,353 | $45,740 | $34,056 |
| Net assets | $6,629,243 | $7,233,596 | $6,308,376 | $1,863,916 | $1,691,443 |
| Revenues and expenses | |||||
| Revenue | 2019 | 2018 | 2017 | 2016 | 2015 |
| Total contributions | $1,976,175 | $2,619,266 | $6,002,716 | $1,791,248 | $1,487,672 |
| Program service revenue | $0 | $0 | $0 | $0 | $0 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | ($737,727) | $11,751 | $3,105 | $2,288 | $1,521 |
| Other revenue | $8,121 | ($1,182) | $163 | ($7,241) | ($4,825) |
| Total other revenue | ($729,606) | $10,569 | $3,268 | ($4,953) | ($3,304) |
| Total revenue | $1,246,569 | $2,629,835 | $6,005,984 | $1,786,295 | $1,484,368 |
| Expenses | 2019 | 2018 | 2017 | 2016 | 2015 |
| Program services | $1,492,415 | $1,389,493 | $1,191,383 | $1,301,481 | $1,072,652 |
| Management and general | $133,733 | $114,418 | $81,021 | $105,942 | $102,006 |
| Fundraising | $224,774 | $200,704 | $289,120 | $206,399 | $143,515 |
| Total expenses | $1,850,922 | $1,704,615 | $1,561,524 | $1,613,822 | $1,318,173 |
| Change in net assets | 2019 | 2018 | 2017 | 2016 | 2015 |
| Surplus (deficit) | ($604,353) | $925,220 | $4,444,460 | $172,473 | $166,195 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | ($604,353) | $925,220 | $4,444,460 | $172,473 | $166,195 |
Compensation
| Name | Title | Compensation |
| Duane Wykoff | CEO | $67,061 |
Compensation data as of: 12/31/2019
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 12/28/2020. To update the information below, please email: info@ministrywatch.com
History
Program accomplishments
We were able to move 125 men into permanent housing last year, transitioning once homeless men to living independently in their own apartments. Refuge of Hope is the only such shelter in Stark County for men.
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.