Totals
- Total revenue
- $538,307
- Total expenses
- $479,811
- Contributions and grants received
- $489,522
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $48,785
- Total assets, end of year
- $285,707
- Total liabilities, end of year
- $136,401
- Net assets or fund balances, end of year
- $149,306
- Program services expenses (Part IX)
- $306,688
- Management and general expenses
- $101,948
- Fundraising expenses
- $71,175
- Program service expenses (Part III)
- $306,688
Program services were 63.9% 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)
$339,873
-
1f · All other contributions, gifts and grants
$149,649
-
1g · Noncash contributions included above
$111,267
-
8a · Fundraising events: gross income
$51,191
-
8b · Fundraising events: direct expenses
$3,074
-
8c · Net income from fundraising events
total $48,117
-
11a · Other revenue: OTHER INCOME
total $668 · related or exempt $668
-
11e · Other revenue, total
$668
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $80,000 · program services $40,824 · management and general $8,084 · fundraising $31,092
-
7 · Other salaries and wages
total $67,438 · management and general $67,438
-
11c · Fees: accounting
total $6,000 · management and general $6,000
-
11g · Fees: other
total $100 · management and general $100
-
12 · Advertising and promotion
total $137,362 · program services $94,185 · management and general $7,424 · fundraising $35,753
-
24a · Other expenses: PROGRAM ASSISTANCE
total $103,195 · program services $103,195
-
24b · Other expenses: OTHER PROGRAM COSTS
total $44,707 · program services $44,707
-
24c · Other expenses: COMMUNITY OUTREACH
total $28,107 · program services $23,777 · fundraising $4,330
-
24d · Other expenses: GENERAL & ADMINISTRATION
total $12,902 · management and general $12,902
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $219,838 · end of year $273,085
-
3 · Pledges and grants receivable
end of year $7,872
-
10a · Land, buildings and equipment: cost or other basis
$4,750
-
10c · Land, buildings and equipment, net
end of year $4,750
-
17 · Accounts payable and accrued expenses
beginning of year $985 · end of year $6,022
-
24 · Unsecured notes and loans payable
beginning of year $128,786 · end of year $130,379
-
27 · Net assets without donor restrictions
beginning of year $90,067 · end of year $149,306
Mission and programs · 2023
Mission
HOPE, INC. (A 501(C)3 TAX-EXEMPT ORGANIZATION) OFFERS SERVICES THAT SUPPORT SINGLE PARENTS. HOPE, INC'S MISSION IS TO SERVE LOW-INCOME SINGLE PARENTS WORKING TO OBTAIN A COLLEGE DEGREE BY PROVIDING ASSISTANCE IN SUBSIDIZED HOUSING, CHILD CARE ASSISTANCE, SOCIAL SERVICES, AND LIFE SKILLS.
-
H.O.P.E, INC. (HELPING OTHER PEOPLE BE EMPOWERED) BEGAN IN NOVEMBER 2009 AS A PASSION OF THE CEO AND FOUNDER, KENITA SMITH. AS A FORMER SINGLE PARENT, SHE STRUGGLED TO COMPLETE HER B.B.A & M.B.A. SHE NOTICED THAT THERE WAS NOT MUCH SUPPORT FOR SINGLE PARENTS TRYING TO FINISH THEIR COLLEGE EDUCATION, AND SHE WANTED TO CREATE AN ORGANIZATION THAT WOULD ALLOW HER TO GIVE HOPE TO OTHERS THAT ARE IN THE SAME SITUATION. SOME OF THE IMPACT: THE ORGANIZATION HAS SERVED 115 SINGLE PARENTS AND 233 CHILDREN OVER THE PAST 14 YEARS. OVER 80% OF OUR PARTICIPANTS GRADUATED, EMPOWERED TO ACHIEVE THEIR EDUCATION GOALS THIS YEAR, 15 SINGLE PARENTS GRADUATED WITH THEIR DEGREES. 76 SINGLE PARENT INCOMES HAVE SOARED FROM BELOW THE 20,000 MARK TO EXCEED 50,000. FROM OUR RECENT SURVEY OF GRADUATES (WHERE 74% OF OUR GRADUATES RESPONDED): 97% OF GRADUATES ARE CURRENTLY WORKING IN THEIR CHOSEN CAREER FIELD AND EARNING ABOVE MINIMUM WAGE. 46% ARE FIRST-GENERATION COLLEGE GRADUATES IN THEIR FAMILIES, BREAKING THE CYCLE OF GENERATIONAL POVERTY. 82% HAVE EXPERIENCED A SIGNIFICANT INCREASE IN THEIR YEARLY SALARY (ROUGHLY A 38,923 SALARY INCREASE). 37% OF OUR GRADUATES HAD NO SAVINGS WHEN STARTING THE PROGRAM, BUT NOW 89% HAVE ESTABLISHED SAVINGS ACCOUNTS WITH AN AVERAGE BALANCE TOTAL THAT HAS INCREASED 219%. 100% OF OUR PROGRAM PARTICIPANTS ARE ON TRACK TO GRADUATE ON TIME, WITH AN AVERAGE GPA OF 3.44. 100% OF OUR PARTICIPANTS HAVE STATED THAT THEIR CHILDRENS SCHOOL GRADES HAVE ALSO IMPROVED DURING THE TIME THEYVE WORKED ON THEIR DEGREE.
Expenses $306,688
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Kenita SmithKENITA SMITH
PRESIDENT
- Total calculated
- $80,000
- From this org
- $80,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Ann LealANN LEAL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 5
-
Steve DowdleySTEVE DOWDLEY
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 10
-
Wassia KamonWASSIA KAMON
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Lisa WhiteLISA WHITE
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
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
- 2023
- Filed
- 20 July 2024
- IRS schema version
- 2023v5.0
- Source object
- 202402469349300615
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