← HOPE CHEST FOR BREAST CANCER FOUNDATION

Form 990 for tax year 2023

Filed by HOPE CHEST FOR BREAST CANCER FOUNDATION.

Totals

Total revenue: $1,562,026
Total expenses: $1,516,568
Contributions and grants received: $1,629,293
Grants paid: $158,650
Program service revenue: $0
Investment income: $23,483
Other revenue: -$90,750
Total assets, end of year: $1,075,637
Total liabilities, end of year: $59,125
Net assets or fund balances, end of year: $1,016,512
Program services expenses (Part IX): $1,164,973
Management and general expenses: $126,260
Fundraising expenses: $225,335
Program service expenses (Part III): $1,164,973

Program services were 76.8% 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.

1c · Fundraising events

$185,398
1f · All other contributions, gifts and grants

$1,443,895
3 · Investment income

total $7,975 · excluded $7,975
7a · Gross sales of assets other than inventory

securities $66,720
7b · Less cost or other basis and sales expenses

securities $51,212
7c · Gain or loss

securities $15,508
7d · Net gain or loss

total $15,508 · excluded $15,508
8a · Fundraising events: gross income

$29,125
8a · Fundraising events: contributions included on line 1c

$185,398
8b · Fundraising events: direct expenses

$121,392
8c · Net income from fundraising events

total -$92,267 · excluded -$92,267
10a · Gross sales of inventory

$894,431
10b · Cost of goods sold

$894,431
10c · Net income from sales of inventory

total $0
11a · Other revenue: MISCELLANEOUS REVENUE

total $1,517 · excluded $1,517
11e · Other revenue, total

$1,517

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $158,650 · program services $158,650
7 · Other salaries and wages

total $183,641 · program services $46,222 · management and general $43,275 · fundraising $94,144
11b · Fees: legal

total $6,184 · program services $1,649 · management and general $1,543 · fundraising $2,992
11c · Fees: accounting

total $64,244 · program services $19,425 · management and general $18,186 · fundraising $26,633
11g · Fees: other

total $118,576 · program services $29,311 · management and general $27,442 · fundraising $61,823
12 · Advertising and promotion

total $4,406 · fundraising $4,406
13 · Office expenses

total $31,259 · program services $8,333 · management and general $7,802 · fundraising $15,124
16 · Occupancy

total $6,900 · program services $1,839 · management and general $1,722 · fundraising $3,339
22 · Depreciation, depletion and amortization

total $14,587 · program services $3,889 · management and general $3,641 · fundraising $7,057
23 · Insurance

total $4,594 · program services $1,224 · management and general $1,146 · fundraising $2,224
24a · Other expenses: COST OF SALES

total $894,431 · program services $894,431
24b · Other expenses: STORE ACQUISITION EXPEN

total $21,503 · management and general $21,503
24c · Other expenses: EVENTS

total $7,593 · fundraising $7,593

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $319,793 · end of year $303,324
4 · Accounts receivable

beginning of year $34,464 · end of year $32,092
9 · Prepaid expenses and deferred charges

beginning of year $33,438 · end of year $22,600
10a · Land, buildings and equipment: cost or other basis

$58,412
10b · Land, buildings and equipment: accumulated depreciation

$42,737
10c · Land, buildings and equipment, net

beginning of year $30,262 · end of year $15,675
11 · Investments: publicly traded securities

beginning of year $490,202 · end of year $701,946
17 · Accounts payable and accrued expenses

beginning of year $36,489 · end of year $59,125
27 · Net assets without donor restrictions

beginning of year $860,584 · end of year $1,016,512
28 · Net assets with donor restrictions

beginning of year $11,086 · end of year $0

Mission and programs · 2023

Mission

SEE SCHEDULE O.THE HOPE CHEST FOR BREAST CANCER FOUNDATION PROVIDES THE QUICKEST ACCESS TO HELP WITH THE MOST URGENT DAILY LIVING NEEDS OF LOCAL BREAST CANCER PATIENTS AND THEIR FAMILIES IN MINNESOTA. HOPE CHEST EMERGENCY ASSISTANCE PROGRAMS PROVIDE EMERGENCY FINANCIAL ASSISTANCE FOR RENT, UTILITIES, TRANSPORTATION AND CHILD CARE.

Activities or mission (Part I)

SEE SCHEDULE O.TO PROVIDE THE QUICKEST ACCESS TO HELP WITH THE MOST URGENT NEEDS OF LOCAL BREAST CANCER PATIENTS AND THEIR FAMILIES IN MINNESOTA.

TO PROVIDE THE QUICKEST ACCESS TO HELP WITH THE MOST URGENT NEEDS OF LOCAL BREAST CANCER PATIENTS AND THEIR FAMILIES. MANY OF THE PATIENTS ARE IN NEED OF FINANICAL ASSISTANCE AS SOON AS THEY ARE DIAGNOSED. THE ABLITY TO GET FINANICAL RELIEF IN THE QUICKEST, MOST EFFICIENT WAY IS WHY HOPE CHEST EXISTS.

Expenses $270,542 · Grants $158,650
THE HOPE CHEST FOR BREAST CANCER USES A BUSINESS MODEL THAT GENERATES A CONSISTENT REVENUE STREAM THAT HELPS TO CREATE AN ONGOING, SUSTAINABLE CONTRIBUTION TO THE FOUNDATION'S EMERGENCY ASSISTANCE PROGRAM. THE FOUNDATION ACCEPTS DONATIONS OF UPSCALE FURNITURE, ACCESSORIES AND DESIGNER WOMEN'S CLOTHING. IT THEN UTILILIZES A RESALE STORE TO CONVERT THESE DONATIONS TO CASH. THROUGH THE RESALE STORE THE FOUNDATION HAS DEVELOPED, WITH DONOR SUPPORT, A SUSTAINABLE PROGRAM THROUGH WHICH HELP IS PROVIDED.

Expenses $894,431
THE ORGANIZATION VOLUNTEERS AT MANY CANCER COMMUNITY EVENTS. PARTICPATION IN THESE HELPS THE ORGANIZATION STAY INFORMED OF BREAST CANCER, ALLOWS THE OPPORTUNITY TO CONNECT TO THE MEDICAL PROFESSIONALS AND THE CLINICS THAT HAVE DIRECT CONTACT WITH PATIENTS WHO ARE IN NEED OF FINANICAL ASSISTANCE.

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

Listed in Part VII

MAUREEN SCALLEN FAILOR

EXECUTIVE DIRECTOR

Total calculated

$60,250

From this org

$60,250

From related orgs

$0

Other

$0

Hours/week

35
CALLIE BRIESE

CHAIR

Total calculated

$0

Hours/week

1
KAREN LARSON

TREASURER

Total calculated

$0

Hours/week

1
SHANNON MCDONOUGH

SECRETARY

Total calculated

$0

Hours/week

1
NATASHA FREIMARK

VICE CHAIR

Total calculated

$0

Hours/week

1
LINDSEY HAGAN

PAST CHAIR

Total calculated

$0

Hours/week

1
LIZ GRABEK

DIRECTOR

Total calculated

$0

Hours/week

1
BARBARA HENSLEY

DIRECTOR

Total calculated

$0

Hours/week

1
ALESHA HODORFF

DIRECTOR

Total calculated

$0

Hours/week

1
LAURA HOLASEK

DIRECTOR

Total calculated

$0

Hours/week

1
MICHELLE JOURDAN

DIRECTOR

Total calculated

$0

Hours/week

1
ANDREA LARSON KERRISON

DIRECTOR

Total calculated

$0

Hours/week

1
SARA SOLI

DIRECTOR

Total calculated

$0

Hours/week

1
SHELLY STEVER

DIRECTOR

Total calculated

$0

Hours/week

1
CARMEN WAMRE

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.

Schedule J

Answered yes

3 · Independent compensation consultant
4a · Severance or change-of-control payment

Answered no

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
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A: FORMER EXCUTIVE DIRECTOR, JAMIE FLAWS, WAS PAID FOR INTERM/TRANSITION SERVICES UNDER HER BUSINESS NAME AFTER SHE HAD TERMINATED EMPLOYEMENT WITH THE FOUNDATION. TOTAL PAID IN 2023 WAS $5,500 WHICH WAS REPORTED ON A 1099.

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

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2023
Filed: 4 November 2024
IRS schema version: 2023v5.1
Source object: 202433099349303008

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

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