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Nonprofiteer
← HOPE & MAIN

Form 990 for tax year 2024

Filed by HOPE & MAIN.

Totals

Total revenue
$2,864,515
Total expenses
$3,064,061
Contributions and grants received
$1,859,750
Grants paid
$692,274
Program service revenue
$1,005,273
Investment income
$0
Other revenue
-$508
Total assets, end of year
$3,842,282
Total liabilities, end of year
$4,298,561
Net assets or fund balances, end of year
-$456,279
Program services expenses (Part IX)
$2,672,744
Management and general expenses
$304,968
Fundraising expenses
$86,349
Program service expenses (Part III)
$2,672,744

Program services were 87.2% 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.

  • 1a · Federated campaigns

    $37,500

  • 1c · Fundraising events

    $33,835

  • 1e · Government grants (contributions)

    $590,476

  • 1f · All other contributions, gifts and grants

    $1,197,939

  • 2a · Program service revenue: CULINARY PROGRAM REVEN

    total $864,251 · related or exempt $864,251

  • 2b · Program service revenue: MEMBERSHIP FEES

    total $141,022 · related or exempt $141,022

  • 8a · Fundraising events: gross income

    $3,813

  • 8a · Fundraising events: contributions included on line 1c

    $33,835

  • 8b · Fundraising events: direct expenses

    $4,321

  • 8c · Net income from fundraising events

    total -$508 · excluded -$508

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $651,196 · program services $651,196

  • 2 · Grants to domestic individuals

    total $41,078 · program services $41,078

  • 5 · Compensation of officers, directors and key employees

    total $180,711 · program services $110,120 · management and general $58,827 · fundraising $11,764

  • 6 · Compensation of disqualified persons

    total $55,000 · program services $55,000

  • 7 · Other salaries and wages

    total $916,690 · program services $818,998 · management and general $54,058 · fundraising $43,634

  • 8 · Pension plan contributions

    total $12,697 · program services $11,867 · management and general $114 · fundraising $716

  • 9 · Other employee benefits

    total $43,494 · program services $37,924 · management and general $3,035 · fundraising $2,535

  • 10 · Payroll taxes

    total $97,765 · program services $82,314 · management and general $9,684 · fundraising $5,767

  • 11c · Fees: accounting

    total $38,030 · management and general $38,030

  • 11e · Fees: professional fundraising services

    total $1,838 · fundraising $1,838

  • 11g · Fees: other

    total $77,753 · program services $4,900 · management and general $72,653 · fundraising $200

  • 12 · Advertising and promotion

    total $65,577 · program services $52,739 · fundraising $12,838

  • 13 · Office expenses

    total $168,278 · program services $147,812 · management and general $19,923 · fundraising $543

  • 14 · Information technology

    total $59,154 · program services $55,650 · fundraising $3,504

  • 16 · Occupancy

    total $58,490 · program services $49,716 · management and general $8,774

  • 17 · Travel

    total $22,510 · program services $19,500 · fundraising $3,010

  • 20 · Interest

    total $100,050 · program services $80,040 · management and general $20,010

  • 22 · Depreciation, depletion and amortization

    total $73,932 · program services $66,539 · management and general $7,393

  • 23 · Insurance

    total $27,828 · program services $23,654 · management and general $4,174

  • 24a · Other expenses: FOOD SUPPLIES

    total $170,174 · program services $170,174

  • 24b · Other expenses: BAD DEBT

    total $69,730 · program services $69,730

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $68,875 · program services $61,988 · management and general $6,887

  • 24d · Other expenses: KITCHEN EXPENSE

    total $59,107 · program services $59,107

  • 24e · All other expenses

    total $4,104 · program services $2,698 · management and general $1,406

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $194,471 · end of year $8,947

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $1,112,431

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $186,920

  • 4 · Accounts receivable

    beginning of year $300,264 · end of year $61,753

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,188 · end of year $14,482

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

    $3,154,676

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

    $1,201,328

  • 10c · Land, buildings and equipment, net

    beginning of year $2,021,284 · end of year $1,953,348

  • 15 · Other assets

    beginning of year $0 · end of year $504,401

  • 17 · Accounts payable and accrued expenses

    beginning of year $64,565 · end of year $93,272

  • 19 · Deferred revenue

    beginning of year $6,351 · end of year $1,328,007

  • 21 · Escrow or custodial account liability

    beginning of year $44,000 · end of year $38,800

  • 23 · Secured mortgages and notes payable

    beginning of year $2,837,123 · end of year $2,670,383

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $168,099

  • 25 · Other liabilities

    beginning of year $121,999 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year -$821,629 · end of year -$729,920

  • 28 · Net assets with donor restrictions

    beginning of year $265,798 · end of year $273,641

Mission and programs · 2024

Mission

TO HELP LOCAL ENTREPRENEURS JUMP-START EARLY-STAGE FOOD COMPANIES AND FOOD RELATED BUSINESSES BY PROVIDING LOW COST, LOW RISK ACCESS TO SHARED-USE COMMERCIAL KITCHENS AND OTHER INDUSTRY-SPECIFIC TECHNICAL RESOURCES.

Activities or mission (Part I)

TO EMPOWER AN INCLUSIVE COMMUNITY OF ENTREPRENEURS TO JUMPSTART AND CULTIVATE THRIVING FOOD BUSINESSES THAT ARE THE FOUNDATION OF A MORE JUST, SUSTAINABLE AND RESILIENT LOCAL FOOD ECONOMY.

  • THE ORGANIZATION'S FOCUS IS ON SUPPORTING AND ADVANCING FOOD ENTREPRENEURS THROUGH BUSINESS DEVELOPMENT RESOURCES, COMMERCIAL KITCHEN ACCESS, EDUCATION, MENTORSHIP, AND COMMUNITY PARTNERSHIPS DESIGNED TO STRENGTHEN LOCAL FOOD SYSTEMS. THE PROGRAM IS INTENDED TO PROMOTE EQUITABLE ECONOMIC OPPORTUNITY BY HELPING EMERGING FOOD BUSINESSES LAUNCH, GROW, AND SUSTAIN OPERATIONS WHILE INCREASING ACCESS TO LOCALLY PRODUCED FOOD AND FOSTERING COMMUNITY ECONOMIC DEVELOPMENT. THE ORGANIZATION ALSO SERVES AS AN ADVOCATE AND RESOURCE HUB FOR SMALL FOOD BUSINESS OWNERS BY PROVIDING TRAINING, NETWORKING OPPORTUNITIES, AND OPERATIONAL SUPPORT TO ENTREPRENEURS IN THE FOOD INDUSTRY.

    Expenses $2,672,744 · Grants $692,274 · Revenue $1,005,273

As filed on the 2024 return.

Listed in Part VII

  • Lisa Raiola MPH

    PRESIDENT & CHAIR

    Total calculated
    $47,977
    From this org
    $46,042
    From related orgs
    $0
    Other
    $1,935
    Hours/week
    2

  • Lisa Bergeron

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Inna Walker

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Lanre Ajakaiye

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Kyle Adamonis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kenneth Banalewicz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William Bigelow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Tino Chow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Michael Goldberg Esq

    DIRECTOR (THRU FEB 2025)

    Total calculated
    $0
    Hours/week
    1

  • Rosamond Lu

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Maureen Maloney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Luca Carnevale

    EXECUTIVE DIRECTOR

    Total calculated
    $108,437
    From this org
    $103,217
    From related orgs
    $0
    Other
    $5,220
    Hours/week
    40

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

  • HOPE & MAIN PROVIDENCE

    $393,196

    TO SUPPORT LOCAL FOOD ECONOMIES, CREATE JOBS, AND PROMOTE EQUITABLE ECONOMIC DEVELOPMENT THROUGH FOOD-BASED ENTREPRENEURSHIP.

  • RHODE ISLAND HISPANIC CHAMBER

    $45,270

    TO SUPPORT LOCAL FOOD ECONOMIES, CREATE JOBS, AND PROMOTE EQUITABLE ECONOMIC DEVELOPMENT THROUGH FOOD-BASED ENTREPRENEURSHIP.

  • SOCIAL ENTERPRISE GREENHOUSE

    $41,000

    TO SUPPORT LOCAL FOOD ECONOMIES, CREATE JOBS, AND PROMOTE EQUITABLE ECONOMIC DEVELOPMENT THROUGH FOOD-BASED ENTREPRENEURSHIP.

  • RHODE ISLAND BLACK BUSINESS ASSOCIATION

    $40,833

    TO SUPPORT LOCAL FOOD ECONOMIES, CREATE JOBS, AND PROMOTE EQUITABLE ECONOMIC DEVELOPMENT THROUGH FOOD-BASED ENTREPRENEURSHIP.

  • FUERZA LABORAL

    $24,995

    TO SUPPORT LOCAL FOOD ECONOMIES, CREATE JOBS, AND PROMOTE EQUITABLE ECONOMIC DEVELOPMENT THROUGH FOOD-BASED ENTREPRENEURSHIP.

  • CENTER FOR SOUTH EAST ASIANS

    $24,902

    TO SUPPORT LOCAL FOOD ECONOMIES, CREATE JOBS, AND PROMOTE EQUITABLE ECONOMIC DEVELOPMENT THROUGH FOOD-BASED ENTREPRENEURSHIP.

Provenance

Return type
form_990
Tax year
2024
Filed
15 May 2026
IRS schema version
2024v5.5
Source object
202611359349309606

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