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Nonprofiteer
← HOPE IGNITES NEW YORK

Form 990 for tax year 2022

Filed by HOPE IGNITES NEW YORK.

Totals

Total revenue
$1,670,104
Total expenses
$2,728,083
Contributions and grants received
$1,513,298
Grants paid
$607,911
Program service revenue
$0
Investment income
$986
Other revenue
$155,820
Total assets, end of year
$1,017,652
Total liabilities, end of year
$629,294
Net assets or fund balances, end of year
$388,358
Program services expenses (Part IX)
$2,165,435
Management and general expenses
$387,841
Fundraising expenses
$174,807
Program service expenses (Part III)
$2,165,435

Program services were 79.4% 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.

  • 1c · Fundraising events

    $671,670

  • 1f · All other contributions, gifts and grants

    $841,628

  • 3 · Investment income

    total $986 · related or exempt $986

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6a · Gross rents

    real property $58,000

  • 6c · Rental income or loss

    real property $58,000

  • 6d · Net rental income or loss

    total $58,000 · related or exempt $58,000

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $89,398

  • 8b · Fundraising events: direct expenses

    $18,048

  • 8c · Net income from fundraising events

    total $71,350

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: Miscellanous

    total $26,470 · related or exempt $26,470

  • 11e · Other revenue, total

    $26,470

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $607,911 · program services $607,911

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $81,044 · program services $60,783 · management and general $12,157 · fundraising $8,105

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,272,713 · program services $954,535 · management and general $190,907 · fundraising $127,271

  • 8 · Pension plan contributions

    total $43,601 · program services $32,701 · management and general $6,540 · fundraising $4,360

  • 9 · Other employee benefits

    total $107,579 · program services $80,684 · management and general $16,137 · fundraising $10,758

  • 10 · Payroll taxes

    total $98,164 · program services $73,623 · management and general $14,725 · fundraising $9,816

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $65,240 · program services $45,240 · management and general $20,000

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $34,220 · program services $25,665 · management and general $5,133 · fundraising $3,422

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $192,720 · program services $192,720

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $2,331 · program services $2,179 · management and general $152

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $49,372 · management and general $49,372

  • 22 · Depreciation, depletion and amortization

    total $14,948 · management and general $14,948

  • 23 · Insurance

    total $102,222 · program services $76,667 · management and general $15,333 · fundraising $10,222

  • 24a · Other expenses: Bad Debt

    total $35,000 · management and general $35,000

  • 24b · Other expenses: Domestic Supplies

    total $12,727 · program services $12,727

  • 24c · Other expenses: Miscellaneous

    total $7,331 · management and general $7,331

  • 24d · Other expenses: Special Events

    total $853 · fundraising $853

  • 24e · All other expenses

    total $107 · management and general $106

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,029,155 · end of year $702,326

  • 2 · Savings and temporary cash investments

    beginning of year $71,925 · end of year $119,764

  • 3 · Pledges and grants receivable

    beginning of year $521,510 · end of year $163,752

  • 4 · Accounts receivable

    end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $51,181 · end of year $0

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

    $978,086

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

    $946,361

  • 10c · Land, buildings and equipment, net

    beginning of year $39,707 · end of year $31,725

  • 11 · Investments: publicly traded securities

    beginning of year $1,902 · end of year $0

  • 12 · Investments: other securities

    end of year $0

  • 13 · Investments: program-related

    end of year $0

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    end of year $85

  • 17 · Accounts payable and accrued expenses

    beginning of year $269,043 · end of year $629,293

  • 25 · Other liabilities

    end of year $1

  • 27 · Net assets without donor restrictions

    beginning of year $1,446,337 · end of year $388,358

Mission and programs · 2022

Mission

Boys Hope Girls Hope of NY provides housing and educational assistance for at risk, motivated and educationally capable inner-city youth. Thesechildren are placed in a family environment that allows them to mature and succeed through guidance, education, financial support andencouragement.

Activities or mission (Part I)

Boys Hope Girls Hope nurtures and guides motivated young people in need to become well-educated, career-ready men and women for others.

  • Our Scholar's academic achievement made for another year of great academic success. Our senior class (7 scholars) for the tenth year in a row received 100%acceptance into four-year colleges and universities. In total, they earned 87 acceptances to 55 different schools and nearly 1.3 million dollars in college scholarshipsand grant. Colleges that Class of 2021 will be matriculating in the fall include University at Buffalo, Messiah University, Villanove University, Buffalo State College,Macaulaly Honors at Brooklyn Colege, University at Albany, among others. Despite the challenges that our scholars have faced and continue to face in their lives,they consistently show the grit and determination to succeed. Their hard work, resilience, resolve, and accomplishments inspire us all, and we are grateful for thesupport of our donors, stakeholders, and community partners who share our belief that motivated youth can overcome significant barriers and develop their inherenttalents when surrounded by strong relationships and opportunities for enrichment in an environment that empowers them and allows them to focus on theirstrengths. Snapshot of the Years Success:87% College Retention Rate (Class of 2016-Class of 2019). 58 collegians out of 67 are on track to graduate within 4 years.100% of our 7 graduating scholars were accepted into 4-year colleges. Combined, they received 87 acceptances to 55 different schools. 5 out of 7 had their fullfinancial need met, 4 out of 7 received full scholarships to one more collegeOur graduating class earned nearly 1.3 million dollars in grant and scholarship aid.

    Expenses $2,165,435

  • Supporting Scholars To and Through Post-Secondary Education. We leverage the transformative power of education to help our scholars realize their goals. This includes providing opportunities to connect scholars to college, internships, and career tracks earlier in their lives through our Envision U week-long event, while also providing standardized test prep and support with college selection, applications, campus visits, and student aid applications, all done in significant collaboration with our university partners. We also assist graduating high school seniors with College Transition Plans that include financial planning, and collegians with College Persistence Plans that include check-ins with college success team members. To further help scholars stay on track in post-secondary education, we join forces with affiliates to reduce debt by providing scholarship support. Eligible scholars are enrolled in 15 credit hours and earn a 2.5 or higher GPA. In addition to our high college persistence rates, more than 80% of our collegians are at or below the threshold of $5,500 of debt per year, compared to the national annual average of approximately $10,000 (calculated using Student Loan Hero's four-year estimate of $39,400).

As filed on the 2022 return.

Listed in Part VII

  • Lorenzo Sistrunk

    CEO

    Total calculated
    $172,400
    From this org
    $172,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,400
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $172,400

  • Mado S Ramsingh

    .

    Total calculated
    $114,495
    From this org
    $114,495
    From related orgs
    $0
    Other
    $0
    Hours/week
    28

  • Michael McManus

    COO

    Total calculated
    $112,400
    From this org
    $112,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Patrick O Haskell

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Robert Grillo

    Co-Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Nicola White

    Co-Vice Chair

    Total calculated
    $0
    Hours/week
    1

  • Kevin C Haskell

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Netty Tsai

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jean-Philippe Brisson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Saju Georgekutty

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kevin Chau

    Director

    Total calculated
    $0
    Hours/week
    1

  • T Troy Dixon

    Director

    Total calculated
    $0
    Hours/week
    0

  • Jay Rubenstein

    Director

    Total calculated
    $0
    Hours/week
    1

  • David Gildea

    Director

    Total calculated
    $0
    Hours/week
    1

  • Donald F Privett

    Director

    Total calculated
    $0
    Hours/week
    1

  • John J Halleron III

    Chair Emeritus

    Total calculated
    $0
    Hours/week
    1

  • Robert S Mancini

    Chair Emeritus

    Total calculated
    $0
    Hours/week
    1

  • David Hammer

    Director

    Total calculated
    $0
    Hours/week
    1

  • David Allinson

    Director

    Total calculated
    $0
    Hours/week
    1

  • William Hult

    Director

    Total calculated
    $0
    Hours/week
    1

  • Frederick C Johs

    Director

    Total calculated
    $0
    Hours/week
    1

  • Robert Smith

    Director

    Total calculated
    $0
    Hours/week
    1

  • David Flowerdew

    Director

    Total calculated
    $0
    Hours/week
    1

  • John K Mara

    Director

    Total calculated
    $0
    Hours/week
    0

  • Michael Monahan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Robert Sloan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Richard AR Pinkham

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jack E Plym

    Director

    Total calculated
    $0
    Hours/week
    1

  • Veronica Relea

    Director

    Total calculated
    $0
    Hours/week
    1

  • Thomas S Riggs

    Director

    Total calculated
    $0
    Hours/week
    1

  • Rev James F Keenan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Brendan Gallergher

    Director

    Total calculated
    $0
    Hours/week
    1

  • Alex Marvin

    Director

    Total calculated
    $0
    Hours/week
    1

  • Qing Chen

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kerrie Cohen

    Director

    Total calculated
    $0
    Hours/week
    1

  • Brian Hipp

    Vice President

    Total calculated
    $0
    Hours/week
    1

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

  • 3 · Independent compensation consultant
  • 3 · Approval by the board or compensation committee

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

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
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202431369349319553

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