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Nonprofiteer
← HOPE COMMUNITY INC

Form 990 for tax year 2023

Filed by HOPE COMMUNITY INC.

Totals

Total revenue
$3,529,911
Total expenses
$4,684,312
Contributions and grants received
$2,343,551
Grants paid
$0
Program service revenue
$944,523
Investment income
$35,154
Other revenue
$206,683
Total assets, end of year
$12,000,734
Total liabilities, end of year
$8,005,689
Net assets or fund balances, end of year
$3,995,045
Program services expenses (Part IX)
$3,902,397
Management and general expenses
$591,481
Fundraising expenses
$190,434
Program service expenses (Part III)
$3,902,397

Program services were 83.3% 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.

  • 1f · All other contributions, gifts and grants

    $2,343,551

  • 2a · Program service revenue: PROGRAM FEES

    total $944,523 · related or exempt $944,523

  • 3 · Investment income

    total $35,154 · related or exempt $28,271 · excluded $6,883

  • 11a · Other revenue: MISCELLANEOUS

    total $206,683 · related or exempt $206,683

  • 11e · Other revenue, total

    $206,683

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $1,749,765 · program services $1,337,248 · management and general $289,096 · fundraising $123,421

  • 9 · Other employee benefits

    total $166,676 · program services $126,038 · management and general $28,999 · fundraising $11,639

  • 10 · Payroll taxes

    total $150,671 · program services $116,504 · management and general $23,495 · fundraising $10,672

  • 11g · Fees: other

    total $228,470 · program services $98,247 · management and general $93,005 · fundraising $37,218

  • 12 · Advertising and promotion

    total $17,894 · program services $1,296 · management and general $9,114 · fundraising $7,484

  • 16 · Occupancy

    total $342,007 · program services $297,140 · management and general $44,867

  • 20 · Interest

    total $225,377 · program services $225,377

  • 22 · Depreciation, depletion and amortization

    total $587,087 · program services $587,087

  • 23 · Insurance

    total $100,992 · program services $87,778 · management and general $13,214

  • 24a · Other expenses: OPERATING & MAINTENANCE

    total $596,857 · program services $596,857

  • 24b · Other expenses: CLIENT SUPPORT SERVICES

    total $176,632 · program services $176,632

  • 24c · Other expenses: BAD DEBT

    total $118,325 · program services $118,325

  • 24d · Other expenses: REAL ESTATE TAXES

    total $85,425 · program services $85,425

  • 24e · All other expenses

    total $138,134 · program services $48,443 · management and general $89,691

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,538,037 · end of year $385,685

  • 2 · Savings and temporary cash investments

    beginning of year $60,872 · end of year $674,138

  • 3 · Pledges and grants receivable

    beginning of year $304,238 · end of year $397,924

  • 4 · Accounts receivable

    beginning of year $116,896 · end of year $157,502

  • 7 · Other notes and loans receivable

    beginning of year $733,064 · end of year $733,064

  • 9 · Prepaid expenses and deferred charges

    beginning of year $51,438 · end of year $43,721

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

    $18,195,854

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

    $9,940,999

  • 10c · Land, buildings and equipment, net

    beginning of year $8,773,213 · end of year $8,254,855

  • 11 · Investments: publicly traded securities

    beginning of year $635,047 · end of year $643,017

  • 15 · Other assets

    beginning of year $683,412 · end of year $710,828

  • 17 · Accounts payable and accrued expenses

    beginning of year $418,878 · end of year $385,026

  • 19 · Deferred revenue

    beginning of year $1,009,445 · end of year $1,117,643

  • 23 · Secured mortgages and notes payable

    beginning of year $6,292,318 · end of year $6,415,180

  • 25 · Other liabilities

    beginning of year $112,276 · end of year $87,840

  • 27 · Net assets without donor restrictions

    beginning of year $3,648,490 · end of year $3,417,045

  • 28 · Net assets with donor restrictions

    beginning of year $1,414,810 · end of year $578,000

Mission and programs · 2023

Mission

HOPE COMMUNITY CREATES CONNECTIONS THAT STRENGTHEN THE POWER OF COMMUNITY MEMBERS AND COMMUNITIES. HOPE CULTIVATES COMMUNITY LEADERS, BUILDS COMMUNITY CAPACITY, CARES FOR THE HOUSING AND COMMUNITY SPACES IT DEVELOPS, AND PURSUE EQUITY AND DIVERSITY IN ALL IT DOES.

Activities or mission (Part I)

HOPE COMMUNITY CREATES CONNECTIONS THAT STRENGTHEN THE POWER OF COMMUNITY MEMBERS AND COMMUNITIES. HOPE CULTIVATES CNITY LEADERS, BUILD COMMUNITY CAPACITY, CARE FOR THE HOUSING AND COMMUNITY SPACES WE DEVELOP, AND PURSUE EQUITY AND DIVERSITY IN ALL THAT WE DO.

  • COMMUNITY ENGAGEMENT- HOPE HAS COMPLETED ITS 14TH GROWING SEASON IN THE COMMUNITY GARDENS, RENOVATED THE YOUTH GARDEN WITH WALKING PATHS, IRRIGATION AND AN ORCHARD. HOPE COMPLETED THE 4TH YEAR OF TRANSFORMATIONAL CREATIVE STRATEGIES TRAINING (TRCSTR) WITH 8 COMMUNITY ARTISTS WITH A FOCUS ON BIPOC ARTISTS, TO WORK EFFECTIVELY WITH COMMUNITY AND SOCIAL JUSTICE ORGANIZERS TO EMPLOY PUBLIC ART AS A STRATEGY FOR COMMUNITY BUILDING AND ORGANIZING.HOPE CONTINUES TO HOST AND ENGAGE COMMUNITY MEMBERS IN TWO ANNUAL CYCLES OF NEIGHBORHOOD DEVELOPMENT CENTER'S (NDC) "PLAN IT" TRAINING FOR ASPIRING ENTREPRENEURS TO DEVLOP BUSINESS PLANS AND NETWORKS OF SUPPORT.

    Expenses $1,459,441

  • REAL ESTATE DEVELOPMENT-HOPE'S WORK WITH REAL ESTATE AND PUBLIC SPACE FEATURES AN INNOVATIVE, ENTREPRENEURIAL APPROACH TO COMMUNITY DEVELOPMENT, AND HOPE HAS DEVELOPED A CRITICAL MASS OF HOUSING, INDOOR AND OUTDOOR COMMUNITY SPACE (INCLUDING HOPE'S OFFICES AND COMMUNITY CENTER), AND SPACE FOR TWO NEIGHBORHOOD BUSINESSES THAT ARE CHANGING THE FACE OF A FORMERLY DEVASTATED NEIGHBORHOOD. SOUTH QUARTER, A MAJOR DEVELOPMENT (IN PARTNERSHIP WITH AEON) REFLECTS 20+ YEARS OF PERSISTENT VISION AND STRATEGY TO DEVELOP A CRITICAL MASS OF COMMUNITY-FOCUSED HOUSING ON ALL FOUR CORNERS OF THE PORTLAND AND FRANKLIN INTERSECTION. IN TOTAL, HOPE HAS DEVELOPED 237 UNITS OF HOUSING (70% AFFORDABLE, 30% MARKET RATE), 25,000 SQUARE FEET OF RETAIL, OFFICE AND COMMUNITY SPACE, AND 7,500 SQUARE FEET OF URBAN AGRICULTURE SPACE IN THE BLOCKS AROUND THAT INTERSECTION. IN 2023, HOPE AND THE CITY OF LAKES COMMUNITY LAND TRUST COMPLETED CONSTRUCTION ON THE LARGEST VACANT BUILDING IN THE CITY AT 628 EAST FRANKLIN, WHICH ARE SEVEN PERPETUALLY AFFORDABLE LAND TRUST CONDOMINIUM OPPORTUNITIES.

    Expenses $278,010

  • HOUSING AND ASSET MANAGEMENT- STABLE, HEALTHY AND AFFORDABLE HOUSING IN A SUPPORTIVE COMMUNITY ENVIRONMENT IS AN EFFECTIVE WAY FOR INDIVIDUALS AND FAMILIES TO MEET THE CHALLENGES OF POVERTY AND ISOLATION IN AN URBAN ENVIRONMENT. HOPE'S RELATIONSHIPS WITH RESIDENTS ARE ROOTED IN RESPECT AND MUTUAL ACCOUNTABILITY. HOPE'S PROPERTIES ARE MANAGED BY TWO PROFESSIONAL PROPERTY MANAGEMENT COMPANIES. AS A PROPERTY OWNER COMMITTED TO ITS BUILDINGS FOR THE LONG-TERM, HOPE IS RESPONSIBLE FOR THE TRADITIOANL DUTIES OF A REAL ESTATE ASSET MANAGER- FINANCIAL OVERSIGHT, SELECTION OF A PROPERTY MANAGER, COMPLIANCE WITH REGULATORY AGREEMENTS, CAPITAL IMPROVEMENT PLANNING, ETC. HOWEVER, JOPE'S APPROACH TO ASSET MANAGEMENT INVOLVES A MUCH BROADER UNDERSTANDING OF HOW TO MAINTAIN ITS REAL ESTATE AS A LONG-TERM ASSET. KEY TO THAT UNDERSTANDING IS RELATIONSHIP-MAINTAINING RELATIONSHIPS WITH RESIDENTS, FUNDERS, GOVERNMENT PARTNERS, NEIGHBORS, COMMUNITY MEMBERS, AND MANY OTHERS. HOPE IS INVOLVED WITH GROUPS SUCH AS THE LOCAL BUSINESS ASSOCIATION AND NEIGHBORHOOD ASSOCIATION. CONSIDERABLE EFFORT IS SPENT TO CONNECT THE DISTINCT FUNCTIONS OF HOPE'S COMMUNITY ENGAGEMENT AND PROPERTY MANAGEMENT WORK.

    Expenses $2,164,946

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

Listed in Part VII

  • Ani Ryan Koch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • C Terrence Anderson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Candice Rosalez

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Olivia Jefferson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Claire Chang

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dan McLean

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Janette Law

    FUNDRASING CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Kia Hakimi

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Lacora Bradford Kesti

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Maria Pabon Gautier

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Steve Robinson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brockman Schumacher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shannon Jones

    PAST ED

    Total calculated
    $106,321
    From this org
    $91,942
    From related orgs
    $0
    Other
    $14,379
    Hours/week
    40

  • Will Delaney

    INTERIM CO-ED

    Total calculated
    $112,057
    From this org
    $101,808
    From related orgs
    $0
    Other
    $10,249
    Hours/week
    40

  • Chaka Mkali

    INTERIM CO-ED

    Total calculated
    $112,083
    From this org
    $102,643
    From related orgs
    $0
    Other
    $9,440
    Hours/week
    40

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • HOPE BLOCK STABALIZATION PHASE 1 LLC

    ACQUIRE AND LEASE AFFORDABLE HOUSING · MN

  • DUNDRY HOUSE LLC

    ACQUIRE AND LEASE AFFORDABLE HOUSING · MN

  • FRANKLIN PORTLAND GATEWAY PHASE I LP

    ACQUIRE AND LEASE AFFORDABLE HOUSING · MN

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • FRANKLIN PORTLAND GATEWAY PHASE II LIMITED PARTNERSHIP

    RELATED · OWN AND OPERATE APARTMENT BUILDING TO PROVIDE AFFORDABLE HOUSING TO LOW AND · MN · 0.01% owned · general or managing partner

  • FRANKLIN PORTLAND GATEWAY PHASE III LIMITED PARTNERSHIP

    RELATED · OWN AND OPERATE APARTMENT BUILDING TO PROVIDE AFFORDABLE HOUSING TO LOW AND · MN · 0.01% owned · general or managing partner

  • FRANKLIN PORTLAND GATEWAY PHASE IV LIMITED PARTNERSHIP

    RELATED · OWN AND OPERATE APARTMENT BUILDING TO PROVIDE AFFORDABLE HOUSING TO LOW AND · MN · 0.01% owned · general or managing partner

Provenance

Return type
form_990
Tax year
2023
Filed
10 September 2024
IRS schema version
2023v5.1
Source object
202422609349301772

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