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Nonprofiteer
← HOPE ACADEMY HOLDING COMPANY

Form 990 for tax year 2024

Filed by HOPE ACADEMY HOLDING COMPANY.

Totals

Total revenue
$87,721
Total expenses
$652,451
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$0
Investment income
$87,721
Other revenue
$0
Total assets, end of year
$24,303,325
Total liabilities, end of year
$9,867,451
Net assets or fund balances, end of year
$14,435,874
Program services expenses (Part IX)
$512,583
Management and general expenses
$134,768
Fundraising expenses
$5,100
Program service expenses (Part III)
$512,583

Program services were 78.6% 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.

  • 3 · Investment income

    total $87,721 · excluded $87,721

  • 6a · Gross rents

    real property $125,000

  • 6b · Less rental expenses

    real property $125,000

Functional expenses

Part IX, the statement of functional expenses.

  • 20 · Interest

    total $129,668 · management and general $129,668

  • 22 · Depreciation, depletion and amortization

    total $509,996 · program services $499,796 · management and general $5,100 · fundraising $5,100

  • 24a · Other expenses: OTHER EXPENSES

    total $12,787 · program services $12,787

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $4,330,785 · end of year $102,098

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

    $22,254,394

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

    $509,996

  • 10c · Land, buildings and equipment, net

    beginning of year $20,082,296 · end of year $21,744,398

  • 15 · Other assets

    beginning of year $437,523 · end of year $2,456,829

  • 25 · Other liabilities

    beginning of year $9,850,000 · end of year $9,867,451

  • 27 · Net assets without donor restrictions

    beginning of year $15,000,604 · end of year $14,435,874

Mission and programs · 2024

Mission

THE ORGANIZATION ASSISTS HOPE ACADEMY WITH OPERATING A K-12 SCHOOL IN URBAN MINNEAPOLIS, WHICH PROVIDES A CLASSICAL CHRISTIAN EDUCATION, WITH A GOAL OF FOSTERING HOPE IN GOD WITHIN THE INNER-CITY NEIGHBORHOODS OF MINNEAPOLIS BY PROVIDING YOUTH WITH A REMARKABLE GOD-CENTERED EDUCATION.

  • HOPE ACADEMY HOLDING COMPANY IS ORGANIZED AND WILL OPERATE EXCLUSIVELY FOR CHARITABLE AND EDUCATIONAL PURPOSES, AND EXCLUSIVELY FOR THE BENEFIT OF, TO SUPPORT THE FUNCTIONS OF, AND TO ASSIST IN CARRYING OUT THE PURPOSES OF HOPE ACADEMY, INC., A MINNESOTA NONPROFIT CORPORATION. HOPE ACADEMY HOLDING COMPANY'S OPERATIONS CONSIST OF MANAGING THE REAL ESTATE HOLDINGS AND CONSTRUCTION PROJECT FOR HOPE ACADEMY.

    Expenses $512,583

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jeremy Donaldson

    TREASURER/SE

    Total calculated
    $93,526
    From this org
    $0
    From related orgs
    $80,794
    Other
    $12,732
    Hours/week
    0.1 + 50 related

  • Rich Cammack

    PRESIDENT/CH

    Total calculated
    $0
    Hours/week
    0.1

  • Cecil Smith

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5

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.

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
2024
Filed
12 December 2025
IRS schema version
2024v5.0
Source object
202523499349301307

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