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

CategoryRatingOverall rankSector rank
Overall efficiency rating494 of 81792 of 150
Fund acquisition rating538 of 81793 of 150
Resource allocation rating284 of 81758 of 150
Asset utilization rating558 of 817114 of 150

Financial ratios

Funding ratiosSector median20192018201720162015
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
9%11%8%5%12%10%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
8%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
9%12%12%19%13%11%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
9%-59%0%0%0%0%
 
Operating ratiosSector median20192018201720162015
Program expense ratio Program expense ratio =
Program services /
Total expenses
79%81%82%76%81%81%
Spending ratio Spending ratio =
Total expenses /
Total revenue
97%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
3%-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
10%7%7%5%7%8%
 
Investing ratiosSector median20192018201720162015
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.620.260.220.250.850.77
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
3.902.821.601.202.192.57
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
2.490.750.360.301.861.98
 
Liquidity ratiosSector median20192018201720162015
Current ratio Current ratio =
Total current assets /
Total current liabilities
9.926.9111.12231.8124.7337.75
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.080.140.090.000.040.03
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
4.1313.7630.7340.286.205.90
 
Solvency ratiosSector median20192018201720162015
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
9%5%6%0%2%1%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
143%358%424%404%115%128%

Financials

Balance sheet
 
Assets20192018201720162015
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
 
Liabilities20192018201720162015
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 assets20192018201720162015
Unrestricted$0$2,051,049$1,802,023$1,818,176$1,657,387
Temporarily restricted$0$5,182,547$4,506,353$45,740$34,056
Permanently restricted$0$0$0$0$0
Net assets$6,629,243$7,233,596$6,308,376$1,863,916$1,691,443
 
Revenues and expenses
 
Revenue20192018201720162015
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
 
Expenses20192018201720162015
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 assets20192018201720162015
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

NameTitleCompensation
Duane WykoffCEO$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.