Totals
- Total revenue
- $1,280,822
- Total expenses
- $1,603,671
- Contributions and grants received
- $1,343,733
- Grants paid
- $209,930
- Program service revenue
- $0
- Investment income
- -$181,944
- Other revenue
- $119,033
- Total assets, end of year
- $5,496,396
- Total liabilities, end of year
- $4,886,304
- Net assets or fund balances, end of year
- $610,092
- Program services expenses (Part IX)
- $1,278,358
- Management and general expenses
- $325,066
- Fundraising expenses
- $247
- Program service expenses (Part III)
- $1,278,358
Program services were 79.7% 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.
-
1e · Government grants (contributions)
$1,143,719
-
1f · All other contributions, gifts and grants
$200,014
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
other assets $1,278,129
-
7b · Less cost or other basis and sales expenses
other assets $1,460,073
-
7c · Gain or loss
securities $0 · other assets -$181,944
-
7d · Net gain or loss
total -$181,944 · excluded -$181,944
-
8a · Fundraising events: gross income
$38,105
-
8b · Fundraising events: direct expenses
$18,375
-
8c · Net income from fundraising events
total $19,730 · excluded $19,730
-
11a · Other revenue: Discount on Interest Free Loans
total $92,333 · excluded $92,333
-
11d · All other revenue
total $6,970 · related or exempt $0 · unrelated business $0 · excluded $6,970
-
11e · Other revenue, total
$99,303
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $209,930 · program services $209,930
-
4 · Benefits paid to or for members
total $0 · program services $0
-
5 · Compensation of officers, directors and key employees
total $144,934 · program services $110,034 · management and general $34,900
-
6 · Compensation of disqualified persons
total $104,469 · program services $67,698 · management and general $36,771
-
7 · Other salaries and wages
total $500,825 · program services $380,228 · management and general $120,597
-
9 · Other employee benefits
total $25,248 · program services $19,168 · management and general $6,080
-
10 · Payroll taxes
total $49,381 · program services $37,490 · management and general $11,891
-
11b · Fees: legal
total $21,405 · program services $14,961 · management and general $6,444
-
11c · Fees: accounting
total $8,331 · management and general $8,331
-
11g · Fees: other
total $219,440 · program services $179,330 · management and general $39,874 · fundraising $236
-
12 · Advertising and promotion
total $35,947 · program services $35,947
-
13 · Office expenses
total $22,948 · program services $19,610 · management and general $3,327 · fundraising $11
-
14 · Information technology
total $1,250 · program services $1,250
-
16 · Occupancy
total $56,566 · program services $34,128 · management and general $22,438
-
17 · Travel
total $7,960 · program services $916 · management and general $7,044
-
20 · Interest
total $143,605 · program services $143,605
-
22 · Depreciation, depletion and amortization
total $11,090 · management and general $11,090
-
24a · Other expenses: Dues and Subscriptions
total $20,754 · program services $16,174 · management and general $4,580
-
24b · Other expenses: Other Event Expenses
total $19,588 · program services $7,889 · management and general $11,699
-
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 $153,912 · end of year $236,914
-
2 · Savings and temporary cash investments
end of year $148,489
-
4 · Accounts receivable
beginning of year $423,884 · end of year $371,676
-
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
-
10a · Land, buildings and equipment: cost or other basis
$3,998,594
-
10b · Land, buildings and equipment: accumulated depreciation
$26,194
-
10c · Land, buildings and equipment, net
beginning of year $2,725,753 · end of year $3,972,400
-
12 · Investments: other securities
beginning of year $0 · end of year $766,917
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $347,303 · end of year $644,165
-
19 · Deferred revenue
beginning of year $0
-
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 $2,787,041 · end of year $4,242,139
-
25 · Other liabilities
beginning of year $0 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $169,205 · end of year $610,092
Mission and programs · 2024
Mission
The organization works to address the root causes contributing to poverty and violence in the community through imaginative, solution-focused programs that provide support in the areas of home ownership, financial literacy, workforce development, youth mentorship, and entrepreneurship.
Activities or mission (Part I)
Helping Chicago residents to transition out of poverty to living wage & into generational wealth
-
R.E.A.D.Y. (Recruit, Employ, Advance & Develop Youth) - To Work is a twenty-week job readiness program designed for low-income youth ages 16-24. The goal of the R.E.A.D.Y. To Work program is to provide exposure and to prepare participants for the workforce by providing career training. Using creative methods, the Hope Center Foundation will recruit, employ, and develop youth by guiding them to become better citizens through active involvement in the workforce.
Expenses $1,147,115 · Grants $194,119
-
Hope Center Foundation,in partnership with Chicago Neighborhood Initiatives (CNI) and United Power, will create a pathway to economic opportunity, homeownership, and generational wealth for low-to-moderate-income residents of the Roseland community in Chicago. The "Reclaiming Communities" project involves the construction of 1,000 single-family, affordable homes to help residents invest in and revitalize their own communities.
Expenses $115,432
-
The organization provides assistance to those in need each year. Transportation grants through Ventra gift cards were given out to cover ride-sharing expenses to assist clients with their transportation needs.
Expenses $15,811 · Grants $15,811
As filed on the 2024 return.
Listed in Part VII
-
Cheryle Jackson
Vice President
- Total calculated
- $0
- Hours/week
- 2
-
Darryl Farrow
Secretary/Treasurer
- Total calculated
- $0
- Hours/week
- 2
-
James T Meeks
President/CEO
- Total calculated
- $0
- Hours/week
- 5
-
Henry D McGhee Jr
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Jamell Meeks
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Otis Wright
Board Member
- Total calculated
- $0
- Hours/week
- 2
-
Shenita Muse
Executive Director
- Total calculated
- $144,934
- From this org
- $116,896
- From related orgs
- $0
- Other
- $28,038
- Hours/week
- 40
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 22 October 2025
- IRS schema version
- 2024v5.1
- Source object
- 202522959349300047
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