Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $2,179,519

• 1f · All other contributions, gifts and grants

  $248,386

• 2a · Program service revenue: DEVELOPER FEES

  total $520,571 · related or exempt $520,571

• 3 · Investment income

  total $23 · excluded $23

• 6a · Gross rents

  real property $746,329

• 6b · Less rental expenses

  real property $353,699

• 6c · Rental income or loss

  real property $392,630

• 6d · Net rental income or loss

  total $392,630 · related or exempt $392,630

• 10a · Gross sales of inventory

  $678,899

• 10b · Cost of goods sold

  $811,883

• 10c · Net income from sales of inventory

  total -$132,984 · related or exempt -$132,984

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $45,689 · management and general $45,689

• 8 · Pension plan contributions

  total $2,376 · management and general $2,376

• 9 · Other employee benefits

  total $5,711 · management and general $5,711

• 10 · Payroll taxes

  total $23,360 · management and general $23,360

• 11a · Fees: management

  total $480,000 · management and general $480,000

• 11b · Fees: legal

  total $6,211 · management and general $6,211

• 11c · Fees: accounting

  total $25,869 · management and general $25,869

• 11g · Fees: other

  total $1,779 · program services $1,779

• 12 · Advertising and promotion

  total $1,182 · management and general $1,182

• 13 · Office expenses

  total $8,501 · management and general $8,501

• 14 · Information technology

  total $1,022 · management and general $1,022

• 16 · Occupancy

  total $181,212 · program services $181,212

• 17 · Travel

  total $2,113 · management and general $2,113

• 20 · Interest

  total $18,365 · program services $17,281 · management and general $1,084

• 22 · Depreciation, depletion and amortization

  total $318,197 · program services $318,197

• 24a · Other expenses: BAD DEBTS

  total $167,407 · management and general $167,407

• 24b · Other expenses: TAXES & INSURANCE

  total $84,231 · program services $84,231

• 24c · Other expenses: DUES

  total $740 · management and general $740

• 24d · Other expenses: TRAINING AND SEMINARS

  total $400 · management and general $400

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $270,706 · end of year $97,321

• 3 · Pledges and grants receivable

  beginning of year $50,201

• 4 · Accounts receivable

  beginning of year $963,730 · end of year $1,178,749

• 9 · Prepaid expenses and deferred charges

  beginning of year $26,447 · end of year $31,365

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

  $14,847,154

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

  $1,070,991

• 10c · Land, buildings and equipment, net

  beginning of year $11,624,866 · end of year $13,776,163

• 15 · Other assets

  beginning of year $1,135,329 · end of year $522,273

• 17 · Accounts payable and accrued expenses

  beginning of year $1,035,801 · end of year $1,129,678

• 23 · Secured mortgages and notes payable

  beginning of year $4,085,943 · end of year $3,478,137

• 25 · Other liabilities

  beginning of year $2,114,996 · end of year $2,329,739

• 27 · Net assets without donor restrictions

  beginning of year -$745,581 · end of year -$1,091,322

• 28 · Net assets with donor restrictions

  beginning of year $7,580,120 · end of year $9,759,639

The filer's explanations (Part III)

PART I, LINE 3

THE FORMER CEO WAS COMPENSATED BY THE ORGANIZATION USING THE METHODS INDICIATED. THE RELATED ORGANIZATION, NEW HOPE SERVICES, PAYS THE COMPENSATION TO THE CURRENT OFFICERS AND USES THE FOLLOWING METHODS TO DETERMINE THE COMPENSATION: COMPENSATION COMMITEE, FORM 990 OF OTHER ORGANIZATIONS, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY AND APPROVAL BY THE BOARD.