GARDEN OF HOPE 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

2008

Legal Domicile

Principal Officer

PHILIP INABINETTE

Phone

7573904328

Tax Period

2024-01-01 to 2024-12-31

GARDEN OF HOPE INC, founded in 2008, is a small nonprofit in the Human Services sector that reported $705K in total revenue in fiscal year 2024. Revenue surged 26% from the prior year, signaling strong growth momentum.

Mission

GARDEN OF HOPE, INC. (GOH OR THE ORGANIZATION), A NONPROFIT ORGANIZATION INCORPORATED IN THE COMMONWEALTH OF VIRGINIA ON SEPTEMBER 17, 2008, AIMS TO BUILD HEALTHY NEIGHBORHOODS BY PROVIDING SERVICES AND PROGRAMS FOR THE DISADVANTAGED INDIVIDUALS, FAMILIES, AND COMMUNITIES, AND UNDER-SERVED YOUTH IN HAMPTON ROADS. GOH WAS FOUNDED WITH THE VISION OF NURTURING A COMMUNITY WHERE EVERYONE HAS THE OPPORTUNITY TO THRIVE. GOH IS DEDICATED TO CREATING LASTING CHANGE IN OUR COMMUNITY BY OFFERING COMPREHENSIVE PROGRAMS THAT ADDRESS THE NEEDS OF THOSE IMPACTED BY INCARCERATION, POVERTY, AND A LACK OF EDUCATION.

Program Service Accomplishments

Program 1

Expenses: $439,597 Revenue: $565,971

GARDEN OF HOPE HAS MADE SEVERAL ACHIEVEMENTS RELATED TO ITS EXEMPT PURPOSE DURING 2024. THE ORGANIZATION CONTINUED TO UTILIZE GRANT FUNDS TO PROVIDE HOUSING TO DISADVANTAGED MEMBERS IN SOCIETY. THE...

Program 2

Expenses: $127,500 Revenue: $127,500

GARDEN OF HOPE, INC. RECEIVES THE USE OF TWO RESIDENTIAL FACILITIES FROM THE CITY OF NORFOLK AT NO COST UNDER MULTI-YEAR LEASE AGREEMENTS. THE PROPERTIES ARE USED TO HOUSE AND SUPPORT NON-VIOLENT...

GARDEN OF HOPE, INC. RECEIVES THE USE OF TWO RESIDENTIAL FACILITIES FROM THE CITY OF NORFOLK AT NO COST UNDER MULTI-YEAR LEASE AGREEMENTS. THE PROPERTIES ARE USED TO HOUSE AND SUPPORT NON-VIOLENT EX-OFFENDERS AS PART OF THE ORGANIZATION'S REHABILITATIVE MISSION.THE ESTIMATED FAIR MARKET RENTAL VALUE OF THESE FACILITIES WAS DETERMINED BASED ON COMPARABLE MARKET DATA AND ADJUSTED FOR NONPROFIT AND GOVERNMENT-USE DISCOUNTS. TOTAL IN-KIND CONTRIBUTIONS OF 127,500 WERE RECOGNIZED FOR THE YEAR ENDED DECEMBER 31, 2024 AND ARE REFLECTED AS BOTH SUPPORT REVENUE AND PROGRAM SERVICES EXPENSE IN THE ACCOMPANYING FINANCIAL STATEMENTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $693,471

Program Service Revenue $0

Investment Income $0

Other Revenue $11,783

TOTAL REVENUE $705,254

Expense Breakdown

Grants Paid $0

Salaries & Benefits $281,600

Fundraising Expenses $17,795

Program Expenses $567,097

Other Expenses $426,147

TOTAL EXPENSES $707,747

Year-over-Year Comparison

	2024	2023	Change
Revenue	$705,254	$560,089	+0.3%
Expenses	$707,747	$637,309	+0.1%
Net Income	$-2,493	$-77,220	-1.0%

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

N/A

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

$69,376

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PHILIP INABINETTE	EXECUTIVE DI	40.00	Officer	$69,376	$0	$69,376
TRAVORIS CARNES	BOARD MEMBER	24.00	Director	$0	$0	$0
VICTOR CLARK	BOARD MEMBER	24.00	Director	$0	$0	$0
KATHY FEREBEE	BOARD MEMBER	24.00	Director	$0	$0	$0
DAPHINE JOPPY	BOARD MEMBER	24.00	Director	$0	$0	$0
GREGORY D SMITH	BOARD MEMBER	24.00	Director	$0	$0	$0
CARLTON WEST	BOARD MEMBER	24.00	Director	$0	$0	$0
KIRK T HOUSTON SR	BOARD CHAIR	24.00	Officer	$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
2024	$705,254	$707,747	$225,167	$-2,493
2023	$560,089	$637,309	$198,844	$-77,220
2022	$804,584	$716,587	$349,686	$87,997
2021	$644,151	$623,504	$260,475	$20,647
2020	$525,299	$597,027	$317,554	$-71,728
2019	$738,138	$685,072	$316,125	$53,066
2018	$687,281	$722,993	$488,720	$-35,712