ATLANTA, Dec. 19, 2014 /PRNewswire-USNewswire/ -- Global financial dignity nonprofit Operation HOPE (HOPE) announced today the program results in the 2014 Report Card. The annual report recaps Project 5117, the organization's national empowerment initiative, its expansion into Ferguson, MO and the results from the annual audit.
HOPE's 2013 annual audit, conducted by an independent audit firm, resulted in an outstanding rating among the nonprofit industry. The report shows a 19% administrative and fundraising expense rate. This means that fully .81 cents of every dollar invested in HOPE is in turn invested to help real people to receive HOPE programs and services.
The organization also reports that Regions Bank will support HOPE Inside offices in Ferguson, MO. "Recognizing the social and economic crisis in Ferguson, MO, we are pleased to announce that both Regions Bank and the City of St. Louis, City Treasurer's Office have agreed to open HOPE Inside locations in and around Ferguson, MO and in St. Louis," says John HOPE Bryant, founder, chairman and CEO of Operation HOPE. "Operation HOPE is proud to be a part of the rebuilding, revitalization and long-term stability of Ferguson."
The HOPE Office of Innovation, Research & Assessment has expanded its ability to empirically evaluate the success of HOPE's programs. Through improved measurement and evaluation tools, HOPE continues to produce analytics on the success of our financial dignity and disaster preparedness programs and the results are outstanding. The report-outs for 2014 Annual Report Card include following:
Launched in the fall of 2013, Project 5117, which includes cutting edge programs such as HOPE Business In A Box Academies, HOPE Inside and HOPE Inside Certified Plus, has received over 100 commitments to open new community empowerment offices across America. Project 5117 is successfully being implemented on the ground throughout the U.S. as best practices for federal agencies, and in 2015 launching internationally.
The HOPE Inside delivery model for adult financial literacy programming expanded this year with a total of 22 locations opened in 2014, and over 25 more locations committed to be opened in 2015. Through the HOPE Inside model this year Operation HOPE was able to expand its footprint by opening new offices in the states of New York, Tennessee, Alabama, California, and Florida.
Youth Empowerment reached more than 65,000 youth through a total of 27 Banking on Our Future and HOPE Business In A Box Academies and has empowered 865,000 youth in over 1,500 schools and community based organizations in the U.S., South Africa, Saudi Arabia, and the UAE since 1996. This year, HOPE Business In A Box Academies has dramatically increased activity inAtlanta, Denver, Los Angeles, and Oakland and expanded into New York City with the addition of 14 new Academies. 50 new volunteer Business Role Models were engaged to work with at-risk youth in developing career skills, learning how to build a pathway for their future, and becoming new entrepreneurs and job creators.
HOPE Coalition America continues to provide emergency economic disaster response and recovery services to those in need. This year HOPE responded to the southern storms in Alabama, Mississippi, Colorado, and Arkansas, as well as the earthquake in Napa, California and continued support for those impacted by Superstorm Sandy. In the first three quarters of 2014 alone, HCA provided disaster services, seminars and counseling to 14,852 individuals and 7,124 business clients.
HOPE significantly increases economic energy among America's youth (see Table 1)
HOPE youth participants have more access to business internships and role models compared to the National Sample (see Table 1)
Financial Education Assessments:
Financial Behavior Assessments:
HOPE improves adult clients' credit scores, decreases their debt and increases their savings (see Table 2)
HOPE youth participants are significantly more likely to start their own business compared to the National Sample (see Table 1)
Disaster Preparedness Assessments:
HOPE Clients greatly increased their emergency readiness by completing the Disaster Preparedness seminar. (see Table 3)
How the Poor Can Save Capitalism
Chairman, John Hope Bryant's new book, How The Poor Can Save Capitalism: Rebuilding the Path to the Middle Class, was named the Best Business Book for 2014 with strategy+business and 800CEOREAD, it also received the coveted honor of Essence Magazine's 10 Best Books for 2014. How The Poor Can Save Capitalism is not only a best seller, it is the only bestselling book on economics in the world by an author of African-American descent.
2015 HOPE Global Forum Annual Meeting
We invite you to help us continue our mission by joining us for the 2015 HOPE Global Forum Annual Meeting featuring PresidentBill Clinton, HUD Secretary Julián Castro, CFPB Director Richard Cordray, AOL Founder Steve Case and other global leaders, to be held January 15-17 in Atlanta, Georgia. This year's Forum at the Omni Hotel in Atlanta will bring together global leaders from government, private, corporate, community and academic sectors to help America and the world discover sustainable solutions to our economic challenges at this critically important time. If you are interested in attending the HOPE Global Forum, joining our movement and getting involved in our work, please visit www.operationhope.org or call 877-592-HOPE (4673).
To learn more about HOPE Programs, Initiatives and results, or how to volunteer please visit www.operationhope.org/oirareports.
About Operation HOPE, Inc.
Since its inception in 1992, HOPE has empowered more than 2.2 million individuals and directed more than $1.5 billion in private capital to America's low-wealth communities. It has recruited a growing army of 20,000 HOPE Corps volunteers, and helped raise average credit scores for financial case management clients more than 120 points over an average 18-month period. It currently serves more than 300 U.S. cities, as well as South Africa, Saudi Arabia, Morocco, and most recently, the United Arab Emirates. Its effort to empower underserved communities is a "silver rights" mission to make free enterprise work for everyone.