House Of Hope Inc
- Assets
- $10.8m
- Revenue
- $5.4m
- Investments
- $11.2k
- Employees
- 70
- Location
- Lowell, MA
- Founding
- 10/1985
- Data as of
- 06/2023
- EIN
- 04-2867965
Organization Overview
House Of Hope Inc is located in Lowell, MA. The organization was established in 1985. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 06/2023, House Of Hope Inc employed 70 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. House Of Hope Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, House Of Hope Inc generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.4% each year . All expenses for the organization totaled $4.5m during the year ending 06/2023. While expenses have increased by 10.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EMERGENCY SHELTER FOR HOMELESS WOMEN AND CHILDREN, INCLUDING FOOD AND CASE MANAGEMENT EDUCATIONAL OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING TEMPORARY, OVERNIGHT SHELTER, FOOD AND MAINTENANCE FOR NEEDY PERSONS REGARDLESS OF RACE, CREED, COLOR AND SEX. PROVIDED EMERGENCY SHELTER AND SERVICES TO 109 FAMILIES, A TOTAL OF 308 PEOPLE (169 CHILDREN, 139 ADULTS); 23% OF FAMILIES HAD A HISTORY OF DOMESTIC VIOLENCE. THE AVERAGE LENGTH OF STAY FOR FAMILIES WHO EXITED WAS 215 DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan O'connor President | OfficerTrustee | 3 | $0 |
Rachel Garneau Secretary | OfficerTrustee | 3 | $0 |
Brian Stafford Treasurer | OfficerTrustee | 3 | $0 |
Ryan Dunn Director | Trustee | 1 | $0 |
Michael Conway Director | Trustee | 1 | $0 |
Laurie Gould Director - Emeritus | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $25,771 |
| Related organizations | $0 |
| Government grants | $292,069 |
| All other contributions, gifts, grants, and similar amounts not included above | $394,740 |
| Noncash contributions included in lines 1a–1f | $147,482 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $712,580 |
| Total Program Service Revenue | $4,279,755 |
| Investment income | $73,683 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $337,240 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,435,067 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $182,131 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,614,169 |
| Pension plan accruals and contributions | $106,389 |
| Other employee benefits | $362,917 |
| Payroll taxes | $276,200 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,946 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,929 |
| Office expenses | $25,215 |
| Information technology | $24,421 |
| Royalties | $0 |
| Occupancy | $512,686 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,451 |
| Interest | $3,655 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $135,315 |
| Insurance | $60,096 |
| All other expenses | $0 |
| Total functional expenses | $4,490,606 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,087,082 |
| Savings and temporary cash investments | $121,551 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,191,805 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $124,529 |
| Net Land, buildings, and equipment | $4,016,245 |
| Investments—publicly traded securities | $4,201,923 |
| Investments—other securities | $11,158 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,121 |
| Total assets | $10,755,414 |
| Accounts payable and accrued expenses | $191,747 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,417,428 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,271 |
| Total liabilities | $3,610,446 |
| Net assets without donor restrictions | $7,144,468 |
| Net assets with donor restrictions | $500 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,755,414 |