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Nonprofiteer
← HOPE ADVANCEMENT INC

Form 990 for tax year 2023

Filed by HOPE ADVANCEMENT INC.

Totals

Total revenue
$12,671,460
Total expenses
$1,503,000
Contributions and grants received
$12,322,317
Grants paid
$652,158
Program service revenue
$0
Investment income
$226,372
Other revenue
$122,771
Total assets, end of year
$31,990,859
Total liabilities, end of year
$6,214,079
Net assets or fund balances, end of year
$25,776,780
Program services expenses (Part IX)
$1,444,137
Management and general expenses
$58,863
Fundraising expenses
$0
Program service expenses (Part III)
$1,444,137

Program services were 96.1% 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.

  • 1d · Related organizations

    $12,322,317

  • 3 · Investment income

    total $226,372 · excluded $226,372

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $122,771 · excluded $122,771

  • 11e · Other revenue, total

    $122,771

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $652,158 · program services $652,158

  • 11g · Fees: other

    total $2,500 · management and general $2,500

  • 13 · Office expenses

    total $10 · management and general $10

  • 20 · Interest

    total $63,579 · program services $63,579

  • 24a · Other expenses: LOAN LOSS EXPENSE

    total $728,400 · program services $728,400

  • 24b · Other expenses: FINANCE EXPENSES

    total $49,389 · management and general $49,389

  • 24c · Other expenses: BANK FEES

    total $5,944 · management and general $5,944

  • 24e · All other expenses

    total $1,020 · management and general $1,020

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,936,770 · end of year $78,123

  • 7 · Other notes and loans receivable

    beginning of year $4,241,654 · end of year $8,616,776

  • 13 · Investments: program-related

    beginning of year $13,102,315 · end of year $22,290,965

  • 15 · Other assets

    beginning of year $265,518 · end of year $1,004,995

  • 17 · Accounts payable and accrued expenses

    beginning of year $230,276 · end of year $185,430

  • 24 · Unsecured notes and loans payable

    beginning of year $2,371,237 · end of year $5,690,588

  • 25 · Other liabilities

    beginning of year $334,065 · end of year $338,061

  • 27 · Net assets without donor restrictions

    beginning of year $19,610,679 · end of year $25,776,780

Mission and programs · 2023

Mission

TO HOLD, DEVELOP, AND MANAGE INVESTMENTS IN MICROENTERPRISE DEVELOPMENT ORGANIZATIONS ON BEHALF OF AND TO ADVANCE THE PURPOSES OF HOPE INTERNATIONAL IN A MANNER CONSISTENT WITH THE CHARITABLE OBJECTIVES OF HOPE INTERNATIONAL.

Activities or mission (Part I)

TO HOLD, DEVELOP AND MANAGE INVESTMENTS IN MICROENTERPRISE DEVELOPMENT ORGANIZATIONS ON BEHALF OF AND TO ADVANCE THE PURPOSES OF HOPE INTERNATIONAL IN A MANNER CONSISTENT WITH THE CHARITABLE OBJECTIVES OF HOPE INTERNATIONAL.

  • SUPPORT HOPE INTERNATIONAL BY PROVIDING OPERATIONAL AND FINANCIAL SUPPORT.

    Expenses $1,444,137 · Grants $652,158

As filed on the 2023 return.

Listed in Part VII

  • Peter Greer

    PRESIDENT

    Total calculated
    $178,492
    From this org
    $0
    From related orgs
    $141,900
    Other
    $36,592
    Hours/week
    0.5 + 52 related

    Schedule J breakdown matched by us

    Base
    $0 + $140,310 related
    Bonus
    $0
    Other
    $0 + $1,590 related
    Deferred
    $0 + $5,000 related
    Nontaxable benefits
    $0 + $31,592 related
    Filer's total
    $0 + $178,492 related

  • Jesse Casler

    TREASURER

    Total calculated
    $114,837
    From this org
    $0
    From related orgs
    $83,605
    Other
    $31,232
    Hours/week
    0.5 + 45 related

  • Micah Crist

    SECRETARY

    Total calculated
    $109,117
    From this org
    $0
    From related orgs
    $83,753
    Other
    $25,364
    Hours/week
    0.5 + 45 related

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

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

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.

  • HOPE INTERNATIONAL

    501(C)(3) · TO INVEST IN THE DREAMS OF FAMILIES THE WORLD'S UNDERSERVED COMMUNITIES · PA

  • HOPE BURUNDI SG

    SAVINGS GROUP PROGRAM · BY

  • HOPE INTERNATIONAL FOUNDATION (HK) LIMITED

    FUNDRAISING · HK

  • HOPE ZAMBIA SG

    SAVINGS GROUP PROGRAM · ZA

  • HOPE HAITI SG

    SAVINGS GROUP PROGRAM · HA

  • HOPE ZIMBABWE SG

    SAVINGS GROUP PROGRAM · ZI

  • HOPE MALAWI SG

    SAVINGS GROUP PROGRAM · MI

  • HOPE TANZANIA SG

    SAVINGS GROUP PROGRAM · TZ

  • ASOCIACION ESPERANZA INTERNACIONAL INC

    MICROFINANCE · DR

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • HOPE GLOBAL INVESTMENTS

    RAISE AND PROVIDE CAPITAL TO MICROENTERPRISE PROGRAMS TO ALLEVIATE POVERTY · DE · income $228,676 · assets $6,156,221

    Directly controlled by HOPE ADVANCEMENT INC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • URWEGO FINANCE CBC

    C · MICROFINANCE · RW · 99.69% owned

  • HOPE CONGO

    C · MICROFINANCE · CF · 100% owned

  • HOPE UKRAINE

    C · MICROFINANCE · UP · 85.31% owned

  • TURAME COMMUNITY FINANCE SA

    C · MICROFINANCE · BY · 14.99% owned

  • HOPE ADVANCEMENT - REGISTERED IN RWANDA

    C · PROVIDE IT SUPPORT, PROFESSIONAL SERVICES, AND CONSULTING SERVICES · RW · 100% owned

  • SMEP MICROFINANCE BANK

    C · MICROFINANCE · KE · 51% owned

Provenance

Return type
form_990
Tax year
2023
Filed
16 October 2024
IRS schema version
2023v5.1
Source object
202412909349301591

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