STAR OF HOPE MINISTRIES INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1943

Legal Domicile

Principal Officer

RICHARD BISWURM

Phone

9737421222

Tax Period

2021-01-01 to 2021-12-31

STAR OF HOPE MINISTRIES INC, founded in 1943, is a community nonprofit that reported $2.0M in total revenue in fiscal year 2021. Revenue decreased 9% compared to the prior year.

Mission

TO STRENGTHEN AND INCREASE THE CAPACITIES OF APPROXIMATELY 100 LOCAL CHURCHES IN ORDER TO ADDRESS PAIN AND POVERTY THROUGH LEADERSHIP DEVELOPMENT INITIATIVES AND RESOURCE SUPPORT

Program Service Accomplishments

Program 1

Expenses: $117,189

LEADERSHIP DEVELOPMENT - WE FACILITATE THE TRAINING OF LEADERSHIP FOR INSTITUTIONS, CHURCHES, AND FAITH-BASED ORGANIZATIONS. WE ASSIST LEADERS TO HELP CHANGE AND IMPROVE THE LIVES OF PEOPLE IN...

LEADERSHIP DEVELOPMENT - WE FACILITATE THE TRAINING OF LEADERSHIP FOR INSTITUTIONS, CHURCHES, AND FAITH-BASED ORGANIZATIONS. WE ASSIST LEADERS TO HELP CHANGE AND IMPROVE THE LIVES OF PEOPLE IN GREATER PATERSON, NJ BY USING EVIDENCED BASED METHODS. WE PROVIDE TRAINING FOR FUND RAISING AND GRANT WRITING SKILLS, PLANNING AND MANAGEMENT COMPETENCIES, AND THE DEVELOPMENT OF MINISTRIES SUCH AS FOOD PANTRIES, TUTORING, JOB PLACEMENT AND SPIRITUAL DEVELOPMENT, PRAYER AND WORSHIP.

Program 2

Expenses: $1,414,255

RESOURCE SUPPORT - WE REACH OUT TO INDIVIDUALS, AND ORGANIZATIONS OUTSIDE OF PATERSON, NJ TO DEVELOP RESOURCES THAT BENEFIT OUR MEMBER ORGANIZATIONS PRIMARILY IN PATERSON AND ALSO IN PASSAIC, CLIFTON AND OTHER URBAN AREAS. WE PROMOTE A TRIO OF HOPE FROM JUNE THROUGH DECEMBER WITH 1. PROJECT BACKPACK FROM JUNE-JULY PROVIDES NECESSARY SCHOOL SUPPLIES TO 2200 CHILDREN; 2. BOX OF LOVE MINISTRY FROM SEPTEMBER-NOVEMBER PROVIDES THANKSGIVING DINNERS FOR 2500 FAMILIES; 3. THE CHRISTMAS JOY SHOPPE FROM NOVEMBER-DECEMBER WHEREBY 5000 CHILDREN RECEIVE A TOY OR GAME. THROUGHOUT THE YEAR WE PROVIDED FOOD AND OTHER NECESSARY RESOURCES TO SERVE FAMILIES IN NEED. WE ALSO PROVIED SUMMER CAMPERSHIPS FOR CHILDREN IN PATERSON. WE OPERATE A THRIFT STORE TO PROVIDE USED QUALITY CLOTHING AND BRIC-A-BRAC TO THE COMMUNITY AT CONSIDERABLY LOW PRICES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $1,841,908

Program Service Revenue $25,798

Investment Income $9,301

Other Revenue $165,121

TOTAL REVENUE $2,042,128

Expense Breakdown

Grants Paid $782,229

Salaries & Benefits $782,963

Fundraising Expenses $322,773

Program Expenses $1,531,444

Other Expenses $449,070

TOTAL EXPENSES $2,014,262

Year-over-Year Comparison

	2021	2020	Change
Revenue	$2,042,128	$2,240,713	-0.1%
Expenses	$2,014,262	$2,006,274	+0.0%
Net Income	$27,866	$234,439	-0.9%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

248

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$189,780

Total Directors

$104,808

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATTHEW ANDERSON	EXECUTIVE DI	40.00	Officer Director	$104,808	$0	$104,808
RICHARD BISWURM	CFO	40.00	Officer	$84,972	$0	$84,972
JOHN ALGERA	SECRETARY	2.00	Officer Director	$0	$0	$0
JOSE CORDOVA	TRUSTEE	1.00	Director	$0	$0	$0
EDWARD GURAK	CHAIRMAN	2.00	Officer Director	$0	$0	$0
ROBERT LOCOLA	TRUSTEE	1.00	Director	$0	$0	$0
DALE PARK	TREASURER	2.00	Officer Director	$0	$0	$0
CHARLES RANDALL	TRUSTEE	1.00	Director	$0	$0	$0
SAULO SANTIAGO	TRUSTEE	1.00	Director	$0	$0	$0
EDWARD SINCLAIR	VICE CHAIRMA	2.00	Officer Director	$0	$0	$0
ANDREW STEWART	TRUSTEE	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2021	$2,042,128	$2,014,262	$754,217	$27,866
2020	$2,240,713	$2,006,274	$690,846	$234,439
2019	$1,895,911	$1,787,535	$480,229	$108,376
2018	$1,430,628	$1,487,332	$449,083	$-56,704