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Nonprofiteer
← HOPEWELL FUND

Form 990 for tax year 2023

Filed by HOPEWELL FUND.

Totals

Total revenue
$157,709,416
Total expenses
$156,563,563
Contributions and grants received
$152,170,198
Grants paid
$87,030,788
Program service revenue
$395,653
Investment income
$4,987,312
Other revenue
$156,253
Total assets, end of year
$170,485,420
Total liabilities, end of year
$17,017,088
Net assets or fund balances, end of year
$153,468,332
Program services expenses (Part IX)
$148,807,466
Management and general expenses
$7,339,893
Fundraising expenses
$416,204
Program service expenses (Part III)
$148,807,466

Program services were 95.0% 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.

  • 1c · Fundraising events

    $1,509,648

  • 1f · All other contributions, gifts and grants

    $150,660,550

  • 1g · Noncash contributions included above

    $14,935,021

  • 2a · Program service revenue: CONSULTING REVENUE

    total $360,144 · related or exempt $360,144

  • 2b · Program service revenue: SPONSORSHIPS REVENUE

    total $15,853 · excluded $15,853

  • 2c · Program service revenue: PRI INTEREST INCOME

    total $12,156 · related or exempt $12,156

  • 2d · Program service revenue: DUES REVENUE

    total $7,500 · related or exempt $7,500

  • 3 · Investment income

    total $5,012,893 · excluded $5,012,893

  • 7a · Gross sales of assets other than inventory

    securities $35,718,997

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

    securities $35,709,103 · other assets $35,475

  • 7c · Gain or loss

    securities $9,894 · other assets -$35,475

  • 7d · Net gain or loss

    total -$25,581 · excluded -$25,581

  • 8a · Fundraising events: gross income

    $175,000

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

    $1,509,648

  • 8b · Fundraising events: direct expenses

    $469,990

  • 8c · Net income from fundraising events

    total -$294,990 · excluded -$294,990

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $451,243 · excluded $451,243

  • 11e · Other revenue, total

    $451,243

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $84,632,852 · program services $84,632,852

  • 3 · Grants to foreign organizations and individuals

    total $2,397,936 · program services $2,397,936

  • 5 · Compensation of officers, directors and key employees

    total $6,230 · management and general $6,230

  • 7 · Other salaries and wages

    total $14,899,243 · program services $14,678,847 · management and general $8,771 · fundraising $211,625

  • 8 · Pension plan contributions

    total $783,456 · program services $771,867 · management and general $461 · fundraising $11,128

  • 9 · Other employee benefits

    total $2,429,637 · program services $2,393,697 · management and general $1,430 · fundraising $34,510

  • 10 · Payroll taxes

    total $1,107,267 · program services $1,090,888 · management and general $652 · fundraising $15,727

  • 11a · Fees: management

    total $6,814,098 · management and general $6,814,098

  • 11b · Fees: legal

    total $15,407,501 · program services $15,267,026 · management and general $140,475

  • 11c · Fees: accounting

    total $74,496 · management and general $74,496

  • 11d · Fees: lobbying

    total $592,325 · program services $592,325

  • 11e · Fees: professional fundraising services

    total $102,967 · fundraising $102,967

  • 11g · Fees: other

    total $13,749,744 · program services $13,608,954 · management and general $100,543 · fundraising $40,247

  • 12 · Advertising and promotion

    total $5,583,588 · program services $5,583,588

  • 13 · Office expenses

    total $1,725,251 · program services $1,723,609 · management and general $1,642

  • 14 · Information technology

    total $3,830,350 · program services $3,761,010 · management and general $69,340

  • 16 · Occupancy

    total $103,038 · program services $103,038

  • 17 · Travel

    total $991,303 · program services $989,581 · management and general $1,722

  • 19 · Conferences, conventions and meetings

    total $1,172,544 · program services $1,172,544

  • 22 · Depreciation, depletion and amortization

    total $19,106 · program services $19,106

  • 23 · Insurance

    total $128,954 · program services $10,752 · management and general $118,202

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total $11,677 · program services $9,846 · management and general $1,831

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,170,051 · end of year $735,553

  • 2 · Savings and temporary cash investments

    beginning of year $131,091,039 · end of year $130,159,787

  • 3 · Pledges and grants receivable

    beginning of year $19,912,865 · end of year $35,033,500

  • 4 · Accounts receivable

    beginning of year $976,064 · end of year $370,655

  • 9 · Prepaid expenses and deferred charges

    beginning of year $229,797 · end of year $601,590

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

    $135,844

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

    $48,193

  • 10c · Land, buildings and equipment, net

    beginning of year $65,257 · end of year $87,651

  • 11 · Investments: publicly traded securities

    beginning of year $20,651,626 · end of year $0

  • 13 · Investments: program-related

    beginning of year $2,736,962 · end of year $3,451,936

  • 15 · Other assets

    beginning of year $23,360 · end of year $44,748

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,877,172 · end of year $7,176,706

  • 18 · Grants payable

    beginning of year $14,880,766 · end of year $9,796,193

  • 19 · Deferred revenue

    beginning of year $31,779 · end of year $0

  • 25 · Other liabilities

    beginning of year $9,584 · end of year $44,189

  • 27 · Net assets without donor restrictions

    beginning of year $25,356,554 · end of year $11,007,728

  • 28 · Net assets with donor restrictions

    beginning of year $126,701,166 · end of year $142,460,604

Mission and programs · 2023

Mission

THE HOPEWELL FUND IS A 501(C)(3) NONPROFIT THAT USES FISCAL SPONSORSHIP AND CHARITABLE GRANT-MAKING TO SUPPORT DOMESTIC AND INTERNATIONAL INITIATIVES AIMED AT ADVANCING PUBLIC GOOD AND ACHIEVING EQUITY FOR ALL PEOPLE.

Activities or mission (Part I)

THE HOPEWELL FUND HELPS SOCIAL ENTREPRENEURS AND OTHER CHANGEMAKERS LAUNCH NEW, (CONT. SCHEDULE O) INNOVATIVE SOCIAL CHANGE PROJECTS, PRIMARILY THROUGH FISCAL SPONSORSHIP. HOPEWELL IS DESIGNED TO FACILITATE RAPID AND EFFICIENT LAUNCHES OF WELL-RESOURCED PROJECTS WITH DIVERSE REVENUE & FUNDING MODELS, INCLUDING CHARITABLE CONTRIBUTIONS AND INVESTMENTS. MANY OF HOPEWELL'S PROJECTS EMPLOY BOLD AND AMBITIOUS STRATEGIES TO ACHIEVE THE IMPACT THEY SEEK. HOPEWELL IS MANAGED BY A BOARD OF DIRECTORS WITH EXPERIENCE IN STARTING UP INNOVATIVE ORGANIZATIONS.

  • CIVIL RIGHTS, SOCIAL ACTION, AND ADVOCACY: HOPEWELL'S PORTFOLIO OF CIVIL RIGHTS, SOCIAL ACTION, AND ADVOCACY FOCUS AREAS INCLUDE ADDRESSING INCOME INEQUALITY, IMPROVING CIVIC ENGAGEMENT AMONG TRADITIONALLY UNDERREPRESENTED GROUPS, AND ADVANCING STATE LEVEL ECONOMIC AND DEMOCRACY REFORMS.

    Expenses $101,431,299 · Grants $56,264,916 · Revenue $107,122

  • HEALTH: HOPEWELL'S PORTFOLIO OF HEALTH FOCUS AREAS INCLUDES WOMEN'S HEALTH, HEALTHCARE ACCESS, AND REDUCING HEALTH DISPARITIES AND AVOIDABLE INFANT MORTALITY.

    Expenses $34,681,289 · Grants $25,950,237 · Revenue $12,156

  • TECHNOLOGY AND INNOVATION: HOPEWELL'S PORTFOLIO OF TECHNOLOGY AND INNOVATION AREAS INCLUDE EMPOWERING ORGANIZATIONS TO FOCUS ON THEIR MISSIONS EFFECTIVELY THROUGH THE USE OF TECHNOLOGY, IMPROVING CYBERSECURITY AND UPDATING TECHNOLOGY HARDWARE.

    Expenses $3,880,636 · Grants $1,175,988 · Revenue $61,448

  • OTHER PROGRAM SERVICES INCLUDING INTERNATIONAL DEVELOPMENT AND FOREIGN AFFAIRS, AND YOUTH DEVELOPMENT AND EDUCATION.

    Expenses $8,814,242 · Grants $3,639,647 · Revenue $214,927

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Courtney Cuff

    PROJECT DIRECTOR

    Total calculated
    $347,446
    From this org
    $297,920
    From related orgs
    $0
    Other
    $49,526
    Hours/week
    36

    Schedule J breakdown matched by us

    Base
    $296,836
    Bonus
    $0
    Other
    $1,084
    Deferred
    $17,822
    Nontaxable benefits
    $31,704
    Filer's total
    $347,446

  • Sharona Roth

    PROJECT DIRECTOR

    Total calculated
    $282,255
    From this org
    $245,599
    From related orgs
    $0
    Other
    $36,656
    Hours/week
    32

    Schedule J breakdown matched by us

    Base
    $224,849
    Bonus
    $20,000
    Other
    $750
    Deferred
    $14,040
    Nontaxable benefits
    $22,616
    Filer's total
    $282,255

  • Meagan Cavanaugh

    PROJECT DIRECTOR

    Total calculated
    $274,780
    From this org
    $240,843
    From related orgs
    $0
    Other
    $33,937
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $239,343
    Bonus
    $1,500
    Other
    $0
    Deferred
    $5,714
    Nontaxable benefits
    $28,223
    Filer's total
    $274,780

  • Bonnie Jones

    PROJECT DIRECTOR

    Total calculated
    $271,348
    From this org
    $229,363
    From related orgs
    $0
    Other
    $41,985
    Hours/week
    37

    Schedule J breakdown matched by us

    Base
    $229,363
    Bonus
    $0
    Other
    $0
    Deferred
    $13,762
    Nontaxable benefits
    $28,223
    Filer's total
    $271,348

  • Janet Crepps Hiller

    PROJECT DIRECTOR

    Total calculated
    $265,511
    From this org
    $229,939
    From related orgs
    $0
    Other
    $35,572
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $228,439
    Bonus
    $1,500
    Other
    $0
    Deferred
    $13,820
    Nontaxable benefits
    $21,752
    Filer's total
    $265,511

  • Andrew Schulz

    GENERAL COUNSEL

    Total calculated
    $6,230
    From this org
    $6,230
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lee Bodner

    BOARD CHAIR AND PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Cheryl Contee

    SECRETARY & TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Lori Chatman

    DIRECTOR (THROUGH 1/23/23)

    Total calculated
    $0
    Hours/week
    1

  • Marissa Padilla

    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. 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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE ORGANIZATION PROVIDES $75 PER MONTH FOR FITNESS RELATED COSTS, WHICH MAY INCLUDE CLUB FEES. THE AMOUNTS WERE CONSIDERED TAXABLE COMPENSATION TO THE EMPLOYEES.
PART I, LINE 3
HOPEWELL FUND DOES NOT HAVE A CEO/EXECUTIVE DIRECTOR.
PART I, LINE 7
THE ORGANIZATION PROVIDED BONUSES TO CERTAIN EMPLOYEES, WHICH WOULD BE CONSIDERED A "NON-FIXED PAYMENT". BONUSES PAID BY THE ORGANIZATION ARE (IN GENERAL) NOT SPECIFIED BY A FIXED FORMULA IN EMPLOYMENT CONTRACTS AND DETERMINED (IN PART) WITH DISCRETION IN DETERMINING THE AMOUNT OF BONUS OR WHETHER TO MAKE A BONUS PAYMENT.

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

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202423179349304767

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

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