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← CENTER OF HOPE FOUNDATION INC

Form 990 for tax year 2023

Filed by CENTER OF HOPE FOUNDATION INC.

Totals

Total revenue
$1,583,780
Total expenses
$126,313
Contributions and grants received
$1,602,178
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
-$18,398
Total assets, end of year
$2,022,428
Total liabilities, end of year
$174,329
Net assets or fund balances, end of year
$1,848,099
Program services expenses (Part IX)
$61,234
Management and general expenses
$65,079
Fundraising expenses
$0
Program service expenses (Part III)
$61,234

Program services were 48.5% 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

    $72,170

  • 1f · All other contributions, gifts and grants

    $1,530,008

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $12,950

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

    $72,170

  • 8b · Fundraising events: direct expenses

    $31,348

  • 8c · Net income from fundraising events

    total -$18,398 · excluded -$18,398

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $8,248 · program services $8,248

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $380 · management and general $380

  • 12 · Advertising and promotion

    total $16,229 · program services $13,817 · management and general $2,412

  • 13 · Office expenses

    total $24,253 · program services $24,253

  • 14 · Information technology

    total $1,670 · program services $1,670

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $6 · program services $6

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $841 · management and general $841

  • 20 · Interest

    total $6,579 · program services $6,579

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: ALLOCATED SALARY AND BENEFIT

    total $61,118 · management and general $61,118

  • 24b · Other expenses: PURCHASES

    total $3,758 · program services $3,758

  • 24c · Other expenses: FOOD HOUSEHOLD AND LAUNDRY

    total $2,499 · program services $2,499

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $732 · program services $404 · management and general $328

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $106,095 · end of year $1,242,164

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $315 · end of year $200,000

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $564,305 · end of year $580,264

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,411 · end of year $6,985

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $269,672 · end of year $167,344

  • 27 · Net assets without donor restrictions

    beginning of year $296,090 · end of year $603,607

  • 28 · Net assets with donor restrictions

    beginning of year $94,542 · end of year $1,244,492

Mission and programs · 2023

Mission

TO RAISE MONEY THROUGH FUNDRAISING TO SUPPORT THE WORK OF MARYHAVEN CENTER OF HOPE, INC. AND ITS SUBSIDIARIES IN THEIR WORK WITH THE DEVELOPMENTALLY DISABLED AND MENTALLY ILL.

Activities or mission (Part I)

THE CENTER OF HOPE FOUNDATION, INC. WAS ESTABLISHED TO RAISE FUNDS TO PRESERVE THE FUTURE OF THE MARYHAVEN CENTER OF HOPE, INC.'S PROGRAM SERVICES.

  • THE CENTER OF HOPE FOUNDATION, INC. WAS ESTABLISHED TO RAISE FUNDS TO PRESERVE THE FUTURE OF THE Maryhaven center of Hope, Inc. (Maryhaven)'S PROGRAM SERVICES. THE CENTER OF HOPE FOUNDATION, INC. HAS MADE THE PUBLIC AWARE OF THE ORGANIZATION'S NEEDS BY HOLDING SEVERAL PUBLIC FUNDRAISING EVENTS SUCH AS ANNUAL GOLF OUTING, ANNUAL APPEALS AND OTHER EFFORTS. THE FOUNDATION ALSO ORGANIZES A PLANNED GIVING PROGRAM WHICH ALLOWS DONORS' LEGACIES TO WORK ON BEHALF OF THE PEOPLE UNDER THE CARE OF Maryhaven IN PERPETUITY. WE INVITE MEMBERS OF THE COMMUNITY TO HELP THE CENTER OF HOPE FOUNDATION, INC. MAKE A DIFFERENCE IN THE LIVES OF THE MEN, WOMEN AND CHILDREN WHO ARE DEVELOPMENTALLY DISABLED. All donations that were reported on the Foundation's respective affiliated company (MARYHAVEN CENTER OF HOPE, INC.) were actually raised by the Foundation itself.

    Expenses $61,234

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

Listed in Part VII

  • Walter Stockton

    CEO & PRESIDENT

    Total calculated
    $780,164
    From this org
    $0
    From related orgs
    $704,027
    Other
    $76,137
    Hours/week
    0.04 + 39.96 related

    Schedule J breakdown matched by us

    Base
    $0 + $613,450 related
    Bonus
    $0 + $20,996 related
    Other
    $0 + $69,581 related
    Deferred
    $0 + $30,827 related
    Nontaxable benefits
    $0 + $45,310 related
    Filer's total
    $0 + $780,164 related

  • Marybeth Lichtneger

    CFO/COO

    Total calculated
    $527,588
    From this org
    $0
    From related orgs
    $466,531
    Other
    $61,057
    Hours/week
    0.04 + 39.96 related

    Schedule J breakdown matched by us

    Base
    $0 + $400,096 related
    Bonus
    $0 + $15,596 related
    Other
    $0 + $50,839 related
    Deferred
    $0 + $31,070 related
    Nontaxable benefits
    $0 + $29,987 related
    Filer's total
    $0 + $527,588 related

  • Deborah Kneidl

    CHIEF DEVELOPMENT OFFICER

    Total calculated
    $258,763
    From this org
    $0
    From related orgs
    $239,062
    Other
    $19,701
    Hours/week
    13.33 + 26.67 related

    Schedule J breakdown matched by us

    Base
    $0 + $200,000 related
    Bonus
    $0 + $8,160 related
    Other
    $0 + $30,902 related
    Deferred
    $0 + $11,258 related
    Nontaxable benefits
    $0 + $8,443 related
    Filer's total
    $0 + $258,763 related

  • Gary Bencivenga

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    0.25 + 2.5 related

  • Robert Jacobs MD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

  • Gary Nuccio

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.25

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

None.

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

The filer's explanations (Part III)

PART I, LINE 3:
CENTER OF HOPE FOUNDATION, INC. DOES NOT COMPENSATE THE ORGANIZATION'S CEO, WALTER STOCKTON. KINEXION, AN AFFILIATE OF THE REPORTING ORGANIZATION, PAID COMPENSATION TO THE CEO. KINEXION HAS ESTABLISHED HIS COMPENSATION USING: INDEPENDENT COMPENSATION CONSULTANT, FORM 990 TAX RETURNS OF OTHER ORGANIZATIONS, COMPENSATION SURVEYS OR STUDY, AND APPROVAL BY THE BOARD OF DIRECTORS OR COMPENSATION COMMITTEE. KINEXION HAS WRITTEN EMPLOYMENT AGREEMENTS IN PLACE FOR HIM, WHICH OUTLINES COMPENSATION INCLUDING ALL FORMS OF WAGES AND FRINGE BENEFITS. KINEXION USES AN OUTSIDE INDEPENDENT ACCOUNTING CONSULTANT FIRM WITH EXPERTISE IN THE NOT-FOR PROFIT INDUSTRY TO PERFORM COMPENSATION ANALYSES OF THE EXECUTIVE POSITIONS. THE COMPENSATION ANALYSIS INCLUDES COMPENSATION SURVEYS OF COMPARABLE POSITIONS BASED UPON THE COMPENSATION AND FRINGE BENEFITS REPORTED ON THE 990 TAX RETURNS FOR COMPARABLE AGENCIES IN THE INDUSTRY. THE RESULTS OF THE COMPENSATION ANALYSIS ARE PRESENTED TO THE BOARD OF DIRECTORS, WHO REVIEW THE ANALYSIS TO DETERMINE APPROPRIATE COMPENSATION LEVELS AND ENSURE COMPLIANCE WITH THE DUE DILIGENCE GUIDELINES AS OUTLINED IN IRC SEC 4958. THE BASIS FOR ITS DETERMINATION AND ALL DECISIONS MADE ARE CONTEMPORANEOUSLY DOCUMENTED IN MEETING MINUTES. THE ORGANIZATION REGULARLY COMMISSIONS AN INDEPENDENT COMPENSATION STUDY; THE LAST SURVEY WAS COMPLETED IN 2023.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Kinexion Medical Services PC

    C CORP · MEDICAL SERVICES · NY · 0% owned · share of income $0 · share of assets $0

    Directly controlled by Kinexion

Provenance

Return type
form_990
Tax year
2023
Filed
14 November 2024
IRS schema version
2023v5.1
Source object
202423209349311742

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