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Nonprofiteer
← HOPE FOUNDATION OF NEW MEXICO INC

Form 990 for tax year 2022

Filed by HOPE FOUNDATION OF NEW MEXICO INC.

Totals

Total revenue
$6,371,064
Total expenses
$9,285
Contributions and grants received
$97,320
Grants paid
$1,000
Program service revenue
$0
Investment income
$6,470,290
Other revenue
-$196,546
Total assets, end of year
$8,535,982
Total liabilities, end of year
$1,623,200
Net assets or fund balances, end of year
$6,912,782
Program services expenses (Part IX)
$6,949
Management and general expenses
$2,336
Fundraising expenses
$0
Program service expenses (Part III)
$6,949

Program services were 74.8% 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.

  • 1f · All other contributions, gifts and grants

    $97,320

  • 3 · Investment income

    total $17,599 · excluded $17,599

  • 6a · Gross rents

    real property $477,873

  • 6b · Less rental expenses

    real property $726,728

  • 6c · Rental income or loss

    real property -$248,855

  • 6d · Net rental income or loss

    total -$248,855 · unrelated business -$248,855

  • 7a · Gross sales of assets other than inventory

    other assets $10,000,000

  • 7b · Less cost or other basis and sales expenses

    other assets $3,547,309

  • 7c · Gain or loss

    other assets $6,452,691

  • 7d · Net gain or loss

    total $6,452,691 · unrelated business $6,452,691

  • 11a · Other revenue: OTHER INCOME

    total $52,309 · related or exempt $52,309

  • 11e · Other revenue, total

    $52,309

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,000 · program services $1,000

  • 11f · Fees: investment management

    total $3,394 · program services $3,394

  • 13 · Office expenses

    total $2,336 · management and general $2,336

  • 24a · Other expenses: BANK & MERCHANT FEES

    total $1,728 · program services $1,728

  • 24b · Other expenses: OTHER EXPENSE

    total $827 · program services $827

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $215,479 · end of year $800,194

  • 4 · Accounts receivable

    beginning of year $5,703

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,992 · end of year $1,605

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

    $37,500

  • 10c · Land, buildings and equipment, net

    beginning of year $3,223,302 · end of year $37,500

  • 11 · Investments: publicly traded securities

    beginning of year $723,668 · end of year $692,039

  • 14 · Intangible assets

    beginning of year $1,217

  • 15 · Other assets

    end of year $7,004,644

  • 17 · Accounts payable and accrued expenses

    beginning of year $38,480 · end of year $1,622,202

  • 23 · Secured mortgages and notes payable

    beginning of year $1,866,789

  • 25 · Other liabilities

    beginning of year $338,519 · end of year $998

  • 27 · Net assets without donor restrictions

    beginning of year $1,462,765 · end of year $6,396,528

  • 28 · Net assets with donor restrictions

    beginning of year $465,808 · end of year $516,254

Mission and programs · 2022

Mission

HOPE FOUNDATION OF NEW MEXICO RECEIVES CHARITABLE DONATIONS TO PROVIDE FINANCIAL AID TO STUDENTS OF HOPE CHRISTIAN SCHOOL, FOR CAPITAL IMPROVEMENTS FOR THE SCHOOL, AND TO INCREASE TEACHER SALARIES.

  • HOPE FOUNDATION OF NEW MEXICO PROVIDES FINANCIAL AID TO STUDENTS OF HOPE CHRISTIAN SCHOOL, A NOT-FOR-PROFIT CORPORATION.

    Expenses $6,949 · Grants $1,000 · Revenue $52,309

  • HOPE FOUNDATION OF NEW MEXICO PROVIDES FINANCIAL AID TO STUDENTS OF HOPE CHRISTIAN SCHOOL, A NOT-FOR-PROFIT CORPORATION.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tom Crow

    PRESIDENT/CH

    Total calculated
    $0
    Hours/week
    1

  • James Tate

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Phylis Wright

    DIRECTOR

    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.

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.

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.

  • SANDIA SKIES LLC

    RENTALS · NM

    Directly controlled by HOPE FOUND HOPE FOUNDATION OF NEW MEXICO

Provenance

Return type
form_990
Tax year
2022
Filed
5 October 2023
IRS schema version
2022v5.0
Source object
202302979349301785

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