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← LIFE OF HOPE

Form 990 for tax year 2024

Filed by LIFE OF HOPE.

Totals

Total revenue
$4,663,195
Total expenses
$866,026
Contributions and grants received
$4,663,152
Grants paid
$0
Program service revenue
$0
Investment income
$43
Other revenue
$0
Total assets, end of year
$4,268,798
Total liabilities, end of year
$36,582
Net assets or fund balances, end of year
$4,232,216
Program services expenses (Part IX)
$556,468
Management and general expenses
$259,796
Fundraising expenses
$49,762
Program service expenses (Part III)
$556,468

Program services were 64.3% 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.

  • 1e · Government grants (contributions)

    $4,529,333

  • 1f · All other contributions, gifts and grants

    $133,819

  • 3 · Investment income

    total $43 · related or exempt $43

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $99,751 · program services $99,751

  • 7 · Other salaries and wages

    total $225,536 · program services $135,322 · management and general $90,214

  • 10 · Payroll taxes

    total $24,649 · program services $14,789 · management and general $9,860

  • 11a · Fees: management

    total $30,805 · program services -$1 · management and general $3,081 · fundraising $27,725

  • 12 · Advertising and promotion

    total $7,229 · program services $2,169 · fundraising $5,060

  • 13 · Office expenses

    total $212,692 · program services $106,677 · management and general $106,015

  • 16 · Occupancy

    total $54,897 · program services $43,918 · management and general $10,979

  • 17 · Travel

    total $24,253 · management and general $7,276 · fundraising $16,977

  • 22 · Depreciation, depletion and amortization

    total $111,270 · program services $111,270

  • 23 · Insurance

    total $27,283 · program services $5,457 · management and general $21,826

  • 24a · Other expenses: TEMPORARY HELP

    total $37,116 · program services $37,116

  • 24b · Other expenses: CABLE

    total $5,072 · management and general $5,072

  • 24c · Other expenses: TELEPHONE

    total $3,803 · management and general $3,803

  • 24d · Other expenses: PAYROLL FEES

    total $1,670 · management and general $1,670

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $261,813 · end of year $11,598

  • 2 · Savings and temporary cash investments

    beginning of year $200,936 · end of year $600,004

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,144

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

    $3,746,461

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

    $158,764

  • 10c · Land, buildings and equipment, net

    beginning of year $3,627,836 · end of year $3,587,697

  • 11 · Investments: publicly traded securities

    beginning of year $10,000 · end of year $10,000

  • 14 · Intangible assets

    beginning of year $63,774 · end of year $59,499

  • 25 · Other liabilities

    beginning of year $3,732,456 · end of year $36,582

  • 27 · Net assets without donor restrictions

    beginning of year $435,047 · end of year $4,232,216

Mission and programs · 2024

Mission

LIFE OF HOPE CENTER IS A MULTIFACETED COMMUNITY-BASED ORGANIZATION WHICH FOSTERS GREATER OPPROTUNITIES FOR YOUTHS, ADULTS AND FAMILIES IN CENTRAL BROOKLYN, WITH A FOCUS ON IMMIGRANTS.

Activities or mission (Part I)

LIFE OF HOPE CENTER IS A MULTIFACETED COMMUNITY-BASED ORGANIZATION WHICH FOSTERS GREATER OPPORTUNITIES FOR YOUTHS, ADULTS AND FAMILIES IN CENTRAL BROOKLYN, WITH A FOCUS ON IMMIGRANTS.

  • LIFE OF HOPE CENTER SEEKS TO POSITIVELY IMPACT THE LIVES OF YOUTH AND FAMILIES IN CENTRAL BROOKLYN, CREATING HOPE AND CPACITY IN EDUCATION AND ECONOMIC OPPORTUNITY.

    Expenses $337,159 · Revenue $4,663,152

  • LIFE OF HOPE CENTER SEEKS TO POSITIVELY IMPACT THE LIVES OF YOUTH AND FAMILIES IN CENTRAL BROOKLYN, CREATING HOPE AND CAPACITY IN EDUCATION AND ECONOMIC OPPORTUNITY.

    Expenses $219,309

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Porez Luxama

    EXECUTIVE DI

    Total calculated
    $81,731
    From this org
    $81,731
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Carolann Johns

    DEPUTY DIREC

    Total calculated
    $18,020
    From this org
    $18,020
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Hogla Foreste

    SECRETARY

    Total calculated
    $0

  • Lisa Frantzen

    CORRESPONDEN

    Total calculated
    $0

  • Max Sauray

    TREASURER

    Total calculated
    $0

  • Steven Polivy

    LEGAL ADVISO

    Total calculated
    $0

  • Fr Juan Luxama

    CHAIRMAN

    Total calculated
    $0

  • Dr Fanell Alerte

    VICE CHAIRMA

    Total calculated
    $0

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
2024
Filed
5 February 2025
IRS schema version
2024v5.0
Source object
202620409349300637

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