Form 990 for tax year 2022

Totals

Total revenue

$945,750

Total expenses

$783,892

Contributions and grants received

$952,058

Grants paid

$0

Program service revenue

$7,217

Investment income

$12

Other revenue

-$13,537

Total assets, end of year

$359,123

Total liabilities, end of year

$194,095

Net assets or fund balances, end of year

$165,028

Program services expenses (Part IX)

$625,541

Management and general expenses

$122,247

Fundraising expenses

$36,104

Program service expenses (Part III)

$625,541

Program services were 79.8% 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.

Mission and programs · 2022

• FINANCIAL EDUCATION: AMERICANS DEMONSTRATE RELATIVELY LOW LEVELS OF FINANCIAL LITERACY AND HAVE DIFFICULTY APPLYING FINANCIAL DECISION-MAKING SKILLS TO REAL LIFE SITUATIONS. STUDY PARTICIPANTS WERE ASKED FIVE QUESTIONS COVERING ASPECTS OF ECONOMICS AND FINANCE ENCOUNTERED IN EVERYDAY LIFE. IN SOUTH CAROLINA, 65% ARE UNABLE TO ANSWER MORE THAN THREE OF THE FIVE QUESTIONS CORRECTLY. ALSO, MOST AMERICANS DO NOT COMPARISON SHOP FOR CREDIT CARDS, WITH 54% SAYING THAT IN OBTAINING THEIR MOST RECENT CREDIT CARD THEY DID NOT COLLECT AND COMPARE INFORMATION ABOUT CARDS FROM MORE THAN ONE COMPANY. INDIVIDUALS NEED AT LEAST A FUNDAMENTAL LEVEL OF FINANCIAL UNDERSTANDING. THIS KNOWLEDGE, PAIRED WITH FINANCIAL DECISION-MAKING SKILLS, CAN BEST ENSURE AN INDIVIDUAL'S FINANCIAL CAPABILITY. IN 2021, DESPITE COVID-19, INCREASING HOPE PIVOTED TO ONLINE TRAINING AND PROVIDED TRAINING FOR 174 INDIVIDUALS HELPING TO INCREASE KNOWLEDGE AND SKILLS OF FAMILIES IN THE AREA OF PERSONAL FINANCE. THIS TRAINING INCLUDED EDUCATING SMALL BUSINESS OWNERS ON THE PAYCHECK PROTECTION PLAN AS WELL AS EIDL LOANS.

  Expenses $137,625

• HOUSING COUNSELING: A HOME IS AN ASSET THAT ALLOWS STABILITY, FOSTERS LONG-TERM THINKING, AND BUILDS BOTH FINANCIAL EQUITY AND COMMITMENT TO A NEIGHBORHOOD. HOMEOWNERSHIP IS ALSO THE PRIMARY MEANS THROUGH WHICH MOST AMERICANS BUILD WEALTH. WHILE NOT A MEASURE OF HOME EQUITY, THE RATE OF HOMEOWNERSHIP PROVIDES AN INDICATION OF HOW MANY FAMILIES IN A STATE HAVE THE OPPORTUNITY TO BUILD WEALTH IN THE FORM OF HOME EQUITY. SOUTH CAROLINA HAS A HOMEOWNERSHIP RATE OF 69.3% WITH THE TRI-COUNTY AREA BEING JUST ABOVE THE STATE AVERAGE IN ALL THREE COUNTIES AS INDICATED. CHARLESTON 65% BERKELEY: 70% AND DORCHESTER: 71.1% INCREASING HOPE PROVIDED HOUSING COUNSELING TO MORE THAN 50 INDIVIDUALS CREATING 5 NEW HOMEOWNERS AND 2 HOMES SAVED FROM FORECLOSURE.

  Expenses $193,916 · Revenue $7,217

• FREE TAX PREPARATION: THE VOLUNTEER INCOME TAX ASSISTANCE (VITA) GRANT PROGRAM IS AN IRSINITIATIVE DESIGNED TO SUPPORT FREE TAX PREPARATION SERVICE FOR THEUNDERSERVED THROUGH VARIOUS PARTNER ORGANIZATIONS. THIS SERVICEHELPS LOW- TO MODERATE-INCOME INDIVIDUALS, PERSONS WITH DISABILITIES,THE ELDERLY, AND LIMITED ENGLISH SPEAKERS FILE THEIR TAXES EACH YEAR.IN 2021, WITH THE HELP OF SEVERAL FAITHFUL VOLUNTEERS, INCREASING H.O.P.E.PREPARED THE TAX RETURNS OF 529 INDIVIDUALS AND FAMILIES,RESULTING IN A COMMUNITY IMPACT OF $741,061.00 IN TAX REFUND DOLLARS. NOT INCLUDED IN THAT IMPACT IS THE UNREALIZED SAVINGS FOR THESE FOLKS WHO OTHERWISE WOULD HAVE SOUGHT TO HAVE THEM PREPARED FOR A FEE. THAT IN AND OF ITSELF RESULTED IN OVER $200,000 BEING RETURNED TO THOSE TAX PAYERS AND THE COMMUNITY BASED ON THE AVERAGE OF OVER $300 BEING CHARGED JUST TO DO A SIMPLE RETURN.

  Expenses $31,276

• Expenses $262,724

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

Listed in Part VII

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.

Provenance

Return type

form_990

Tax year

2022

Filed

1 September 2023

IRS schema version

2022v5.0

Source object

202312449349300221

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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