YOUR GENEROSITY WAS TRANSFORMATIONAL
FINANCIALS
Helping cover expanded needs due to Covid-19 Preventing homelessness for more families Securing a brand new transitional shelter Increasing reserves to ensure a sustainable future Seeding an Endowment
FUNDING SOURCES: Total $4,414,327
Individuals 59%
Foundations 16%
Government* 10%
In-kind 7%
Thanks to you, we raised enough money to cover this tremendous expansion of services, while the surplus created funds that will sustain Door of Hope’s future.
Churches 4%
Corporations 2%
I’m excited to share a few updates on the financial accomplishments you made possible in 2020:
Organizations 1%
BUILDING SHORT-TERM RESERVES Just two years ago, we set out on an ambitious plan to raise 6-months of operating reserves that would not only give security for a “rainy day” but would allow funding for growth as we expanded our programs and services. Last year, you made that goal a reality in completing our “rainy day fund” totaling $1.5 million.
BUILDING AN ENDOWMENT FOR THE FUTURE Last year, Door of Hope launched an Endowment Fund that will play a key role in sustaining Door of Hope’s future. Inspired by Christ’s heart for the poor, chief catalyst, Daniel Fong (founder ofMillion Dollar Baby), galvanized other philanthropists to seed this fundwith $400,000, and the distribution will fuel growth in years to come.
Earned & Interest Income 1%
SPENDING BREAKDOWN: Total $3,097,244
Program 80%
Fundraising 12%
Management & General 8%
As we look to future growth opportunities, we hope donors like you will be inspired by this generosity and help us grow the Endowment — in particular by making a legacy gift to our Endowment in your estate planning. To learn more please contact Megank@doorofhope.us.
Financials are reported on a cash basis, which will differ from audited financial statements that include accrued multi-year pledges which will be available upon request in March 2021. *$250,400 of this total was a 100% forgiven loan from the Federal Government’s Payroll Protection Program for Covid relief.
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