Center for Hope and Renewal Inc

EIN: 854311798 501(c)(3) Mental Health

Jersey City, NJ

Total Revenue
$1,658,168
Total Expenses
$1,591,050
Total Assets
$165,500
Net Assets
$98,018
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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
2021
Legal Domicile
NJ
Principal Officer
Cathy Hong
Phone
8622120913
Tax Period
2024-01-01 to 2024-12-31

Center for Hope and Renewal Inc, founded in 2021, is a community nonprofit in the Mental Health sector that reported $1.7M in total revenue in fiscal year 2024. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $1.6M left a modest 4% surplus.

Mission

To provide quality mental healthcare for privately insured clients and under resourced clients.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,658,165
Investment Income $3
Other Revenue $0
TOTAL REVENUE $1,658,168

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,348,260
Fundraising Expenses $0
Program Expenses $1,259,339
Other Expenses $242,790
TOTAL EXPENSES $1,591,050

Year-over-Year Comparison

2024 2023 Change
Revenue $1,658,168 $1,310,790 +0.3%
Expenses $1,591,050 $1,344,315 +0.2%
Net Income $67,118 $-33,525 -3.0%
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

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Governance

Voting Members
3
Independent Members
1
Employees
33
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
3
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Cathy Hong Vice President 10.00
Officer Director
$0 $0 $0
Craig Okpala President 1.00
Officer Director
$0 $0 $0
Kaitlyn Okpala Treasurer 1.00
Officer 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
2024 $1,658,168 $1,591,050 $165,500 $67,118
2023 $1,310,790 $1,344,315 $49,141 $-33,525
2022 $811,162 $767,851 $69,231 $43,311
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