Civic Intelligence

Hope Renovations

EIN 82-3675207 • 501(c)3 • Chapel Hill, NC

Profile

Hope Renovations inspires hope in women and seniors for a joyful and fulfilling future through empowering women to pursue living-wage jobs in the construction trades via our hands-on training program and by providing repairs and renovations enabling older adults to stay in their home as they age. Our training program serves unemployed and underemployed women helping them gain the skills they need to work in the construction trades and connecting them to employers. This work breaks down a significant gender barrier in the industry while helping women build confidence and pursue careers allowing them to support themselves and their families. Our construction program carries out repairs renovations remodels modifications and other projects with a primary focus on older adults and adults with disabilities who wish to age in place. The program provides a valuable on-the-job learning experience to our trainee giving them hands-on experience alongside our crew.

3 Bolin HtsChapel Hill, NC 27514

www.hoperenovations.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

83rd percentile

0.52x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

58th percentile

0.12x

Higher debt load relative to revenue than 58% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

34th percentile

-1.8%

Higher net margin than 34% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

32nd percentile

-1.6%

Faster asset growth than 32% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

96th percentile

190%

Faster revenue growth than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$1,050,144

Up $341,019 (+48%) from 2023

Liabilities

Up

$183,635

Up $88,948 (+94%) from 2023

Net Assets

Up

$866,509

Up $252,071 (+41%) from 2023

Revenue

Down

$1,776,798

Down $119,933 (-6.3%) from 2023

Expenses

Up

$1,498,748

Up $98,473 (+7.0%) from 2023

Net Income

Down

$278,050

Down $218,406 (-44%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2020: $264,629Liabilities 2020: $126,689Net Assets 2020: $137,9402020Assets 2021: $248,381Liabilities 2021: $112,224Net Assets 2021: $136,1572021Assets 2022: $244,453Liabilities 2022: $126,871Net Assets 2022: $117,5822022Assets 2023: $709,125Liabilities 2023: $94,687Net Assets 2023: $614,4382023Assets 2024: $1,050,144Liabilities 2024: $183,635Net Assets 2024: $866,5092024

Highlighted filing

2024

Assets$1,050,144
Liabilities$183,635
Net Assets$866,509

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2020: $587,895Expenses 2020: $485,230Net Income 2020: $102,6652020Revenue 2021: $351,606Expenses 2021: $354,193Net Income 2021: -$2,5872021Revenue 2022: $1,020,497Expenses 2022: $1,039,072Net Income 2022: -$18,5752022Revenue 2023: $1,896,731Expenses 2023: $1,400,275Net Income 2023: $496,4562023Revenue 2024: $1,776,798Expenses 2024: $1,498,748Net Income 2024: $278,0502024

Highlighted filing

2024

Revenue$1,776,798
Expenses$1,498,748
Net Income$278,050

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 14, 2025
Return Version
2023v6.0
Gross Receipts
$1,776,798
Mission and Program Overview

Mission

We inspire hope in women and seniors for a joyful and fulfilling future. We do this by empowering women to pursue living-wage jobs in the construction trades via our hands-on training program, and by providing repairs and renovations that enable older adults to stay in their homes as they age. Our training program serves unemployed and underemployed women, helping them gain the skills they need to work in the construction trades, and connecting them to employers. This work breaks down a significant gender barrier in the industry while helping women build confidence, and pursue careers that can allow them to support themselves and their families. Our construction program carries out repairs, renovations, remodels, modifications and other projects with a primary focus on older adults and adults with disabilities who wish to age in place. In addition, this program provides a valuable on-the-job learning experience to our trainees, who gain hands-on experience alongside our crew.

Hope Renovations inspires hope in women and seniors for a joyful and fulfilling future through empowering women to pursue living-wage jobs in the construction trades via our hands-on training program and by providing repairs and renovations enabling older adults to stay in their home as they age. Our training program serves unemployed and underemployed women helping them gain the skills they need to work in the construction trades and connecting them to employers. This work breaks down a significant gender barrier in the industry while helping women build confidence and pursue careers allowing them to support themselves and their families. Our construction program carries out repairs renovations remodels modifications and other projects with a primary focus on older adults and adults with disabilities who wish to age in place. The program provides a valuable on-the-job learning experience to our trainee giving them hands-on experience alongside our crew.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$559,697$846,970▲ $287,273
Cash and Non-Interest-Bearing Accounts$109,406$172,460▲ $63,054
Land, Buildings, and Equipment, Net$12,674$10,409▼ $2,265
Prepaid Expenses and Deferred Charges$1,615$0▼ $1,615
Intangible Assets$467$327▼ $140
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$709,125$1,050,144▲ $341,019
Other Assets Total$25,266$19,978▼ $5,288
Liabilities
Other Liabilities$58,727$117,714▲ $58,987
Accounts Payable and Accrued Expenses$27,513$59,484▲ $31,971
Unsecured Notes Loans Payable$8,447$6,437▼ $2,010
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$94,687$183,635▲ $88,948
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$614,438$866,509▲ $252,071
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$614,438$866,509▲ $252,071
Total Liabilities and Net Assets / Fund Balance$709,125$1,050,144▲ $341,019

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$10,409$67,606$78,015
Buildings$0$0$0
Other Land Buildings$0$0$0
Land$0-$0
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Nora E SpencerCEOFT$101,615$101,615

Board Members and Trustees

NameTitle
Carrie NorryBoard Chair
Cindy CovingtonDirector
Claire CoffeyDirector
Jennifer HoffmanDirector
Leah AdenijiDirector
Patricia SpriggDirector
Maryah SmithOvermanSecretary
Brandi GerewTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,486,822
Program Service Revenue
$276,437
Investment Income
$469
Other Revenue
$13,070
All Other Contributions
$645,273
Change in Net Assets
$278,050

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$30,000Value of gift cards Retail value Retail value
Other Non Cash Contri Table1$10,000Value of gift cards Retail value Retail value
Other Non Cash Contri Table1$7,509Value of gift cards Retail value Retail value
Total Noncash Contributions3$47,509-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$972,092
Other Expenses$526,656
Total Fundraising Expense$100,495
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$545,974$112,545$48,341$706,860
Current Officers, Directors, Trustees, and Key Employees$67,066$34,549$0$101,615
Fees for Services Other$98,266$0$0$98,266
Other Employee Benefits$75,149$22,922$0$98,071
Occupancy$31,250$34,814$0$66,064
Payroll Taxes$44,475$16,851$4,220$65,546
Insurance$51,919$10,379$176$62,474
All Other Expenses$33,131$7,967$991$42,089
Fees for Services Accounting$0$27,696$4,369$32,065
Other Expenses$10,219$15,280$35$25,534
Travel$7,443$14,263$196$21,902
Office Expenses$1,411$6,678$1,184$9,273
Interest$0$5,828$0$5,828
Conferences and Meetings$4,511$119$125$4,755
Advertising$25$1,364$1,722$3,111
Depreciation Depletion$0$2,405$0$2,405
Total Functional Expenses$1,051,344$346,909$100,495$1,498,748
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Summer Soiree$86,964$0$0$0
Gonzalez Auction Fundraiser$9,525$0$0$0
Total Events$96,489$0$0$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$100,000
Vehicle Loans$17,547
Other Payables$167
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section B, Line 11B

The form 990 was reviewed by the ceo treasurer and board chair. It was also shared with the board for their review prior to filing.

Part VI, Section B, Line 12C

The board was provided with the conflict of interest policy for review. In addition as board members were added each board member disclosed potential conflicts of interest. If any conflicts arose appropriate steps were taken and everyone was made aware of the policy and provided with the policy document.

Part VI, Section B, Line 15

| Name of the Person:, The process used to establish compensation of the person who served in:|, The year in which this process was last undertaken:| Executive Compensation Committee, HOPE RENOVATIONS EXECUTIVE COMPENSATION COMMITTEE DISCUSSED COMPENSATION FOR THE CEO AND APPROVED AN ANNUAL SALARY OF 100,000 PER YEAR AS OF JANUARY 1 2023., 2023|

Part VI, Section C, Line 19

All documents are available upon request

Filing and Contact Details

Filer

Filer Name
Hope Renovations
EIN
82-3675207
In Care Of
% Nora Spencer
Address
3 BOLIN HTS, CHAPEL HILL, NC 27514

Signing Officer

Name
Nora Spencer
Title
CEO
Signed
2025-05-14
Discuss with paid preparer
No

Organization Details

Formed
2017
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
71
Volunteers
100
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IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt00
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt00
IRS990/InformationTechnologyGrp/ProgramServicesAmt00
IRS990/InformationTechnologyGrp/TotalAmt00
IRS990/InsuranceGrp/FundraisingAmt0176
IRS990/InsuranceGrp/ManagementAndGeneralAmt010379
IRS990/InsuranceGrp/ProgramServicesAmt051919
IRS990/InsuranceGrp/TotalAmt062474
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IRS990/MissionDesc0Hope Renovations inspires hope in women and seniors for a joyful and fulfilling future through empowering women to pursue living-wage jobs in the construction trades via our hands-on training program and by providing repairs and renovations enabling older adults to stay in their home as they age. Our training program serves unemployed and underemployed women helping them gain the skills they need to work in the construction trades and connecting them to employers. This work breaks down a significant gender barrier in the industry while helping women build confidence and pursue careers allowing them to support themselves and their families. Our construction program carries out repairs renovations remodels modifications and other projects with a primary focus on older adults and adults with disabilities who wish to age in place. The program provides a valuable on-the-job learning experience to our trainee giving them hands-on experience alongside our crew.
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IRS990/OfficeExpensesGrp/FundraisingAmt01184
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IRS990/OfficeExpensesGrp/ProgramServicesAmt01411
IRS990/OfficeExpensesGrp/TotalAmt09273
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt019978
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01615
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IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Nora Spencer
IRS990/PriorPeriodAdjustmentsAmt0-25979
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IRS990/ProgramServiceRevenueGrp/BusinessCd0230000
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IRS990/ProgramServiceRevenueGrp/Desc0Aging in Place Construction Program
IRS990/ProgramServiceRevenueGrp/Desc1Womens Trades Training Program
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IRS990/ProgSrvcAccomActy2Grp/Desc0Our training program serves unemployed and underemployed women helping them gain the skills they need to work in the construction trades and connecting them to employers.
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