EIN 75-3070026

Increasing Hope

IRS 501(c) type
501(c)(3)
Num. employees
17
Year formed
2005
Most recent tax filings
2022-12-01
Description
Increasing Hope aims to create financial freedom and stability for families in South Carolina by building assets through financial education and training. It addresses the problem of low levels of financial literacy among Americans, helping individuals improve their decision-making skills in real-life situations. Additionally, it offers free tax preparation services through the Volunteer Income Tax Assistance (VITA) grant program, providing support for underserved communities. Increasing Hope is located in North Charleston, SC.
Total revenues
$945,750
2022
Total expenses
$783,892
2022
Total assets
$359,123
2022
Num. employees
17
2022

Program areas at Increasing Hope

Financial education: americans demonstrate relatively low levels of financial literacy and have difficulty applying financial decision-making skills to real life situations. Study participants were asked five questions covering aspects of economics and finance encountered in everyday life. In south carolina, 65% are unable to answer more than three of the five questions correctly. Also, most americans do not comparison shop for credit cards, with 54% saying that in obtaining their most recent credit card they did not collect and compare information about cards from more than one company. Individuals need at least a fundamental level of financial understanding. This knowledge, paired with financial decision-making skills, can best ensure an individual's financial capability. In 2021, despite covid-19, Increasing Hope pivoted to online training and provided training for 174 individuals helping to increase knowledge and skills of families in the area of personal finance. This training included educating small business owners on the paycheck protection plan as well as eidl loans.
Free tax preparation: the volunteer income tax assistance (vita) grant program is an irsinitiative designed to support free tax preparation service for theunderserved through various partner organizations. This servicehelps low- to moderate-income individuals, persons with disabilities,the elderly, and limited english speakers file their taxes each year.in 2021, with the help of several faithful volunteers, Increasing h.o.p.e.prepared the tax returns of 529 individuals and families,resulting in a community impact of $741,061.00 in tax refund dollars. Not included in that impact is the unrealized savings for these folks who otherwise would have sought to have them prepared for a fee. That in and of itself resulted in over $200,000 being returned to those tax payers and the community based on the average of over $300 being charged just to do a simple return.
Housing counseling: a home is an asset that allows stability, fosters long-term thinking, and builds both financial equity and commitment to a neighborhood. Homeownership is also the primary means through which most americans build wealth. While not a measure of home equity, the rate of homeownership provides an indication of how many families in a state have the opportunity to build wealth in the form of home equity. South carolina has a homeownership rate of 69.3% with the tri-county area being just above the state average in all three counties as indicated. Charleston 65% berkeley: 70% and dorchester: 71.1% Increasing Hope provided housing counseling to more than 50 individuals creating 5 new homeowners and 2 homes saved from foreclosure.

Who funds Increasing Hope

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
South Carolina Association for Community Economic DevelopmentAllowing Them To Provide Training, Technical Assistance and Financing To Minority, Veteran and Women Owned Businesses Throughout SC$114,423
Goldman Sachs FoundationGrant To Implement One Million Black Women in South Carolina.$100,000
Homefree USAProperty Purchased for Renovation and Sale To Low and Moderate Income Potential Homeowners.$29,303
...and 7 more grants received

Personnel at Increasing Hope

NameTitleCompensation
Ingrid TugwellChief Operations Officer and Human Resources Administrator$0
Dorothea BerniqueExecutive Director$70,164
Eileyn Sobeck-BadorProgram Director Americorps
Kedyky "KK" SherrillProgram Director - Women's Business Center
Whitney BrownTraining and Event Manager - Women's Business Center
...and 14 more key personnel

Financials for Increasing Hope

RevenuesFYE 12/2022
Total grants, contributions, etc.$952,058
Program services$7,217
Investment income and dividends$12
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$-13,537
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$945,750

Form 990s for Increasing Hope

Fiscal year endingDate received by IRSFormPDF link
2022-122023-09-01990View PDF
2021-122022-04-28990View PDF
2020-122021-05-24990View PDF
2019-122020-10-20990View PDF
2018-122019-06-19990View PDF
...and 9 more Form 990s

Organizations like Increasing Hope

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Prepare and ProsperSaint Paul, MN$2,572,017
Savvy LadiesNew York, NY$570,381
Giving Hope and HelpKansas City, MO$249,626
Financial BeginningsPortland, OR$1,855,588
Ladder UpChicago, IL$2,870,525
Financial Beginnings WashingtonTukwila, WA$388,272
Pawling Resource CenterPawling, NY$310,538
Financial Beginnings OregonPortland, OR$661,760
Data update history
July 31, 2024
Received grants
Identified 2 new grant, including a grant for $15,000 from Charities Aid Foundation of America
July 30, 2024
Used new vendors
Identified 1 new vendor, including
February 3, 2024
Received grants
Identified 7 new grant, including a grant for $114,423 from South Carolina Association for Community Economic Development
October 27, 2023
Updated personnel
Identified 1 new personnel
October 26, 2023
Posted financials
Added Form 990 for fiscal year 2022
Nonprofit Types
Human service organizationsFamily service centersCharities
Issues
Human services
Characteristics
Fundraising eventsState / local levelReceives government fundingCommunity engagement / volunteeringTax deductible donationsAccepts online donations
General information
Address
8570 Rivers Ave 120
North Charleston, SC 29406
Metro area
Charleston-North Charleston, SC
County
Charleston County, SC
Website URL
increasinghope.org/ 
Phone
(843) 225-4343
IRS details
EIN
75-3070026
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2005
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
P50: Personal Social Services
NAICS code, primary
624190: Individual and Family Services
Parent/child status
Independent
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