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Nonprofiteer
← HARD BARGAIN MT HOPE REDEVELOPMENT INC

Form 990 for tax year 2022

Filed by HARD BARGAIN MT HOPE REDEVELOPMENT INC.

Totals

Total revenue
$590,745
Total expenses
$534,670
Contributions and grants received
$369,193
Grants paid
$206,604
Program service revenue
$13,240
Investment income
$11,420
Other revenue
$196,892
Total assets, end of year
$1,812,865
Total liabilities, end of year
$1,024,680
Net assets or fund balances, end of year
$788,185
Program services expenses (Part IX)
$372,410
Management and general expenses
$125,585
Fundraising expenses
$36,675
Program service expenses (Part III)
$372,410

Program services were 69.7% 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

    $33,861

  • 1e · Government grants (contributions)

    $184,244

  • 1f · All other contributions, gifts and grants

    $151,088

  • 2a · Program service revenue: COMMUNITY EVENTS

    total $13,240 · related or exempt $13,240

  • 3 · Investment income

    total $11,420 · excluded $11,420

  • 6a · Gross rents

    real property $160

  • 6c · Rental income or loss

    real property $160

  • 6d · Net rental income or loss

    total $160 · excluded $160

  • 8a · Fundraising events: gross income

    $31,746

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

    $33,861

  • 8b · Fundraising events: direct expenses

    $30,170

  • 8c · Net income from fundraising events

    total $1,576 · excluded $1,576

  • 10a · Gross sales of inventory

    $470,000

  • 10b · Cost of goods sold

    $274,844

  • 10c · Net income from sales of inventory

    total $195,156 · related or exempt $195,156

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $206,604 · program services $206,604

  • 5 · Compensation of officers, directors and key employees

    total $82,197 · program services $49,182 · management and general $13,349 · fundraising $19,666

  • 7 · Other salaries and wages

    total $89,339 · program services $8,041 · management and general $80,405 · fundraising $893

  • 9 · Other employee benefits

    total $3,264 · program services $1,893 · management and general $979 · fundraising $392

  • 10 · Payroll taxes

    total $12,580 · program services $7,296 · management and general $3,774 · fundraising $1,510

  • 11c · Fees: accounting

    total $16,924 · program services $6,770 · management and general $8,462 · fundraising $1,692

  • 11g · Fees: other

    total $26,111 · program services $8,326 · management and general $14,178 · fundraising $3,607

  • 12 · Advertising and promotion

    total $450 · fundraising $450

  • 13 · Office expenses

    total $16,171 · program services $7,871 · management and general $3,172 · fundraising $5,128

  • 14 · Information technology

    total $1,292 · program services $1,237 · fundraising $55

  • 16 · Occupancy

    total $7,548 · program services $6,186 · management and general $681 · fundraising $681

  • 17 · Travel

    total $2,025 · program services $1,915 · fundraising $110

  • 19 · Conferences, conventions and meetings

    total $10,309 · program services $8,423 · fundraising $1,886

  • 22 · Depreciation, depletion and amortization

    total $54,326 · program services $54,104 · management and general $222

  • 23 · Insurance

    total $5,530 · program services $4,562 · management and general $363 · fundraising $605

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $910,619 · end of year $1,038,587

  • 2 · Savings and temporary cash investments

    beginning of year $331,956 · end of year $373,991

  • 4 · Accounts receivable

    beginning of year $30,440 · end of year $72,204

  • 5 · Loans and receivables from officers and key people

    beginning of year $92,097 · end of year $85,381

  • 6 · Loans and receivables from disqualified persons

    beginning of year $1,767 · end of year $1,778

  • 7 · Other notes and loans receivable

    beginning of year $93,621 · end of year $198,576

  • 8 · Inventories for sale or use

    beginning of year $251,750 · end of year $17,950

  • 9 · Prepaid expenses and deferred charges

    beginning of year $68

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

    $89,953

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

    $65,555

  • 10c · Land, buildings and equipment, net

    beginning of year $28,847 · end of year $24,398

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,055 · end of year $24,680

  • 23 · Secured mortgages and notes payable

    beginning of year $1,000,000 · end of year $1,000,000

  • 27 · Net assets without donor restrictions

    beginning of year $673,540 · end of year $710,107

  • 28 · Net assets with donor restrictions

    beginning of year $58,570 · end of year $78,078

Mission and programs · 2022

Mission

THE MISSION OF HARD BARGAIN ASSOCIATION IS TO PRESERVE THE HISTORIC HARD BARGAIN NEIGHBORHOOD BY RENOVATING EXISTING HOMES, BUILDING HIGH QUALITY AFFORDABLE HOUSING, AND ENRICHING THE LIVES OF OUR NEIGHBORS.

  • PRESERVING THE HISTORIC HARD BARGAIN NEIGHBORHOOD BY RENOVATING EXISTING HOMES, BUILDING HIGH QUALITY AFFORDABLE HOUSING, AND ENRICHING THE LIVES OF ITS NEIGHBORS.

    Expenses $372,410 · Grants $206,604 · Revenue $208,396

As filed on the 2022 return.

Listed in Part VII

  • Derrick Solomon

    EXECUTIVE DI

    Total calculated
    $81,997
    From this org
    $75,200
    From related orgs
    $0
    Other
    $6,797
    Hours/week
    40

  • Denise Carothers

    PRESIDENT

    Total calculated
    $0
    Hours/week
    8

  • Janet Mayberry Wales

    VICE PRES.

    Total calculated
    $0
    Hours/week
    5

  • Ken Farmer

    TREASURER

    Total calculated
    $0
    Hours/week
    8

  • Mirella Neely

    SECRETARY

    Total calculated
    $0
    Hours/week
    8

  • Keith Davis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • David Crane

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Angela Fleming

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Johnnie Hamilton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Howard Sonny Kelton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Pam Lewis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • John Murphy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Mort Stein

    DIRECTOR

    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
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202343199349320359

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