Hope Partnership Inc
- Assets
- $6.3m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 1
- Location
- Centerbrook, CT
- Founding
- 02/2006
- Data as of
- 06/2021
- EIN
- 20-1683627
Organization Overview
Hope Partnership Inc is located in Centerbrook, CT. The organization was established in 2006. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Partnership Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE A CONTINUUM OF AFFORDABLE HOUSING OPTIONS IN ORDER TO HELP ENSURE AN ECLECTIC ECONOMY AND HOUSING CHOICES FOR ALL CITIZENS THROUGH THE COLLABORATIVE EFFORTS OF GOVERNMENTS, BUSINESSES, RELIGIOUS COMMUNITIES, CIVIC ORGANIZATIONS, AND INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE FISCAL YEAR ENDED JUNE 30, 2021, HOPE PARTNERSHIPS NOTABLE EFFORTS INCLUDED THE CONCLUSION OF AN AFFORDABLE HOUSING PROJECT IN THE TOWN OF ESSEX, KNOWN AS THE LOFTS AT SPENCERS CORNER, AT A TOTAL COST OF $5,900,000 FUNDED PRIMARILY WITH A GRANT FROM THE STATE OF CONNECTICUT. A THREE STORY, COMMERCIAL CONDO COMPLEX IN THE VILLAGE OF CENTERBROOK, SPENCERS CORNER HAD MANY VACANCIES WHICH PROVIDED AN OPPORTUNITY FOR HOPE TO WORK WITH UNIT OWNERS. CONSTRUCTION BEGAN DURING THE PRIOR YEAR TO RENOVATE 12 EXISTING CONDO UNITS INTO 17 UNITS FOR HOUSING AND INCLUDES 1, 2, AND 3 BEDROOM UNITS ON THE SECOND AND THIRD FLOORS WITH THE MAJORITY OF THE RENTS SET AS AFFORDABLE BASED ON HUD'S SLIDING SCALE. HOPE'S EFFORTS INCLUDED ADVOCATING FOR AFFORDABLE HOUSING IN THE COMMUNITIES THEY SERVE AS A WAY TO EDUCATE THE PUBLIC ON THE NEED WITH PRESENTATIONS TO COMMUNITY, BUSINESS AND RELIGIOUS ORGANIZATIONS. HOPE HAS MET WITH ELECTED OFFICIALS INCLUDING SENATOR MURPHY'S OFFICE AND SELECTMEN IN ESSEX, DEEP RIVER, OLD LYME, OLD SAYBROOK, CHESTER, MADISON AND CLINTON; INCREASING THE AWARENESS OF THE NEED FOR AFFORDABLE HOUSING AND THE BENEFITS IT PROVIDES TO COMMUNITIES. A PROJECT IN THE TOWN OF MADISON WAS IN THE PLANNING STAGES AT JUNE 30, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Fruendlich Secretary | OfficerTrustee | 2 | $0 |
Calvin Price Treasurer | OfficerTrustee | 3 | $0 |
Pamela Days-Luketich Vice President | OfficerTrustee | 2 | $0 |
David Carswell President | OfficerTrustee | 3 | $0 |
Les Swenson Director | Trustee | 1 | $0 |
Aman Singh Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $4,927 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,575,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $49,542 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,629,469 |
| Total Program Service Revenue | $58,268 |
| Investment income | $5 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $2,975 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,716,601 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $69,635 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,746 |
| Fees for services: Management | $7,949 |
| Fees for services: Legal | $19,609 |
| Fees for services: Accounting | $580 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,856 |
| Advertising and promotion | $255 |
| Office expenses | $12,137 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,218 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,751 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,570 |
| Insurance | $17,642 |
| All other expenses | $1,677 |
| Total functional expenses | $256,054 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,836 |
| Savings and temporary cash investments | $40,005 |
| Pledges and grants receivable | $129,218 |
| Accounts receivable, net | $7,165 |
| 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 | $3,396 |
| Net Land, buildings, and equipment | $5,922,194 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $141,102 |
| Other assets | $10,530 |
| Total assets | $6,346,446 |
| Accounts payable and accrued expenses | $246,576 |
| 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 | $973,162 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,900 |
| Total liabilities | $1,254,638 |
| Net assets without donor restrictions | $36,498 |
| Net assets with donor restrictions | $5,055,310 |
| 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 | $6,346,446 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hope Partnership Inc has recieved totaling $16,016.
| Awarding Organization | Amount |
|---|---|
Middlesex United Way Inc Middletown, CT PURPOSE: AFFORDABLE HOUSING | $16,016 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Builders Inc Boston, MA | $148,217,575 | $87,790,279 |
Doe Fund Inc New York, NY | $135,128,444 | $76,076,390 |
First Chinese Presbyterian Community Affairs Home Attendant C New York, NY | $26,741,134 | $40,973,137 |
Corporation For Supportive Housing New York, NY | $191,922,281 | $44,983,722 |
Lantern Community Services Inc New York, NY | $8,603,902 | $30,172,757 |
Pathstone Corporation Rochester, NY | $88,645,469 | $21,347,590 |
Services For The Underserved Inc New York, NY | $8,662,192 | $15,624,121 |
Hudson River Housing Poughkeepsie, NY | $27,296,400 | $16,670,773 |
Division Housing Corporation Brooklyn, NY | $37,066,960 | $16,618,579 |
Cambridge Affordable Housing Corporation Cambridge, MA | $128,682,054 | $13,147,216 |
Boston Tremont Housing Development Fund Corporation New York, NY | $28,761,784 | $24,917,100 |
Highbridge Community Housing Development Fund Corporation Bronx, NY | $37,198,979 | $10,077,862 |