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Nonprofiteer
← HOPE HEALTH AND WELLNESS CENTER QALICB

Form 990 for tax year 2025

Filed by HOPE HEALTH AND WELLNESS CENTER QALICB.

Totals

Total revenue
$233,697
Total expenses
$1,648,309
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$231,500
Investment income
$2,197
Other revenue
$0
Total assets, end of year
$24,099,074
Total liabilities, end of year
$27,037,943
Net assets or fund balances, end of year
-$2,938,869
Program services expenses (Part IX)
$1,305,503
Management and general expenses
$342,806
Fundraising expenses
$0
Program service expenses (Part III)
$1,305,503

Program services were 79.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: RENTAL INCOME

    total $224,000 · related or exempt $224,000

  • 2b · Program service revenue: EQUIPMENT RENTAL REVENUE

    total $7,500 · related or exempt $7,500

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,197 · excluded $2,197

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 8c · Net income from fundraising events

    total $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11g · Fees: other

    total $9,674 · program services $0 · management and general $9,674 · fundraising $0

  • 16 · Occupancy

    total $18,991 · program services $18,991

  • 20 · Interest

    total $333,132 · management and general $333,132

  • 22 · Depreciation, depletion and amortization

    total $1,276,646 · program services $1,276,646

  • 24a · Other expenses: MAINTENANCE & REPAIRS

    total $9,866 · program services $9,866

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,494,842 · end of year $499,773

  • 2 · Savings and temporary cash investments

    beginning of year $412,008 · end of year $322,731

  • 4 · Accounts receivable

    beginning of year $43,417 · end of year $50,917

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $29,924 · end of year $20,289

  • 10a · Land, buildings and equipment: cost or other basis

    $26,087,278

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,016,339

  • 10c · Land, buildings and equipment, net

    beginning of year $24,329,036 · end of year $23,070,939

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $9,275 · end of year $134,425

  • 17 · Accounts payable and accrued expenses

    beginning of year $535,883 · end of year $47,757

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $26,941,301 · end of year $26,990,186

  • 25 · Other liabilities

    beginning of year $365,575 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$1,524,257 · end of year -$2,938,869

Mission and programs · 2025

Mission

N/A

Activities or mission (Part I)

PERFORM CHARITABLE ACTIVITIES SUPPORTING THE CHARITABLE PURPOSES OF HOPE CLINIC.

  • LEASE COMMERCIAL BUILDING LOCATED AT 13930 BELLAIRE BOULEVARD, HOUSTON, TEXAS TO THE HEALTH CENTER. THE QALICB WILL OPERATE THE SITE IN A MANNER ENABLING IT TO QUALIFY AS A QUALIFIED ACTIVE LOW INCOME BENEFICIARY THAT RECEIVES QUALIFIED LOW-INCOME INVESTMENT (QLICI) LOANS UNDER THE NEW MARKETS TAX CREDIT (NMTC) PROGRAM.

    Expenses $1,305,503 · Revenue $231,500

As filed on the 2025 return.

Listed in Part VII

  • Dr Andrea Caracostis

    DIRECTOR/CEO

    Total calculated
    $320,655
    From this org
    $0
    From related orgs
    $294,183
    Other
    $26,472
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $275,567 related
    Bonus
    $0 + $17,500 related
    Other
    $0 + $1,116 related
    Deferred
    $0 + $9,139 related
    Nontaxable benefits
    $0 + $17,333 related
    Filer's total
    $0 + $320,655 related

  • John Watson

    BOARD CHAIRMAN

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Penny Yang

    CFO/SECRETARY/TREASURER

    Total calculated
    $217,541
    From this org
    $0
    From related orgs
    $202,087
    Other
    $15,454
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $202,042 related
    Bonus
    $0
    Other
    $0 + $45 related
    Deferred
    $0 + $6,090 related
    Nontaxable benefits
    $0 + $9,364 related
    Filer's total
    $0 + $217,541 related

  • David Acosta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jason Lim

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Su Nguyen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation
HOPE CLINIC, A RELATED ORGANIZATION, USES WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE IN DETERMINING THE COMPENSATION OF THE CEO.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2025
Filed
4 June 2026
IRS schema version
2025v4.1
Source object
202601559349300240

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