Hope Center Foundation
- Assets
- $47.4m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Plano, TX
- Founding
- 05/2008
- Data as of
- 12/2023
- EIN
- 26-1590757
Organization Overview
Hope Center Foundation is located in Plano, TX. The organization was established in 2008. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Center Foundation 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 12/2023, Hope Center Foundation generated $3.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $4.5m during the year ending 12/2023. While expenses have increased by 2.2% per year over the past 9 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACCELERATION - THE HOPE CENTER ACCELERATES THE IMPACT OF CHRISTIAN NONPROFITS BY MAKING COSTS MINIMAL, TRAINING ACCESSIBLE, AND COLLABORATION POSSIBLE - ALL IN A STATE-OF-THE-ART FACILITY. BY RESOURCING CHRISTIAN NONPROFITS TO REACH THEIR FULL POTENTIAL, MORE PEOPLE IN MORE PLACES ARE BEING TRANSFORMED BY THE HOPE OF THE GOSPEL. THE HOPE CENTER IS A 185,000-SQUARE-FOOT FACILITY AND IS THE OFFICE HOME TO OVER 50 CHRISTIAN MINISTRIES THAT SERVE OVER 120 CITIES IN TEXAS AND ALMOST EVERY COUNTRY IN THE WORLD.
EDUCATION - THE HOPE CENTER INTENTIONALLY INVESTS IN EDUCATIONAL OPPORTUNITIES TO SUPPORT TENANTS IN THEIR WORK. IT STRIVES TO OFFER SOLUTIONS FOR COMMON PROBLEMS NONPROFITS FACE THROUGH REGULAR PROGRAMMATIC WORKSHOPS AND TRAINING INITIATIVES. THIS INCLUDES PROVIDING PRACTICAL TOOLS AND RESOURCES TO SPEAK TO THE HIGHEST FELT NEEDS OF NONPROFITS, SUCH AS DONOR DEVELOPMENT, MARKETING, DIGITAL STRATEGIES, ETC.
EFFICIENCY - THE HOPE CENTER PROVIDES EFFICIENCY TO ITS TENANTS BY MINIMIZING THE BURDEN OF RENT, PROVIDING ON-SITE SERVICES AND SPACES, AND FACILITATING STRATEGIC PARTNERSHIPS. IT HELPS NONPROFITS REACH THEIR HIGHEST LEVEL OF IMPACT BY USING THE LEAST AMOUNT OF RESOURCES POSSIBLE. THROUGH STATE-OF-THE-ART FACILITIES, THE HOPE CENTER CAN GIVE ACCESS TO MEETING AND EVENT SPACES, RECORDING STUDIOS, IT SUPPORT AND TECHNOLOGY INFRASTRUCTURE, SHIPPING SERVICES, FOOD SERVICES, AND MORE - ALL WITH THE GOAL OF REDUCING THE BURDEN OF COSTS THAT NONPROFITS WOULD OTHERWISE HAVE TO CARRY ON THEIR OWN. THE RESULT IS MORE TIME AND MONEY TO FOCUS ON THEIR IMPACT AND EXTEND THEIR MINISTRY'S REACH.
ENVIRONMENT - THE HOPE CENTER IS PASSIONATE ABOUT CREATING SPACE FOR STRATEGIC COLLABORATION. IT IS A COMMUNITY OF UNCOMMON PARTNERSHIPS, SHARED RESOURCES, AND COUNTLESS STORIES OF HOPE. IT IS MORE THAN JUST A WORKSPACE; IT IS A CULTURE OF GENEROSITY, CELEBRATION, AND FAITH. THE HOPE CENTER PRIORITIZES RELATIONSHIPS AND MEANINGFUL CONNECTIONS BECAUSE IT IS EMPOWERED BY THE IDEA THAT WE ARE BETTER TOGETHER. THE HOPE CENTER IS COMMITTED TO A CULTURAL ENVIRONMENT BASED ON BIBLICAL VALUES AND A MISSION TO BRING THE MESSAGE OF HOPE IN JESUS TO EVERY CORNER OF THE WORLD. IT IS AN ENVIRONMENT OF PRAYER, GATHERED WORSHIP, SHARED RESOURCES, SOLUTIONS, UNCOMMON PARTNERSHIPS, AND STORIES WITH INCREDIBLE OUTCOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President & Ceo, Director | 40 | $197,063 | |
Name Not Listed Chairman Emeritus, Director | 1 | $0 | |
Name Not Listed Board Chair, Director | 1 | $0 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Director | 1 | $0 | |
Name Not Listed Corporate Secretary, Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Holt Lundsford Commercial Inc | 12/30/23 | $114,332 |
Sst Accountants & Consultants | 12/30/23 | $192,310 |
Spice Concessions Llc | 12/30/23 | $166,914 |
Prestonwood Landscape Services Llc | 12/30/23 | $75,585 |
Veritas General Contractors Llc | 12/30/23 | $63,003 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $905,977 |
| Interest on Savings | $20,941 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $215,880 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $4,637 |
| Total Revenue | $3,676,987 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $225,214 |
| Other employee salaries and wages | $454,422 |
| Pension plans, employee benefits | $97,655 |
| Interest | $649,540 |
| Taxes | $52,432 |
| Depreciation | $1,137,727 |
| Occupancy | $1,088,138 |
| Travel, conferences, and meetings | $4,275 |
| Printing and publications | $4,753 |
| Other expenses | $248,038 |
| Total operating and administrative expenses | $4,479,476 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $4,479,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,801 |
| Savings and temporary cash investments | $2,457,283 |
| Net Accounts receivable | $30,613 |
| Net Pledges Receivable | $8,787,684 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,096 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $36,067,938 |
| Other assets | $15,103 |
| Total assets | $47,385,518 |
| Accounts payable and accrued expenses | $139,522 |
| Grants payable | $0 |
| Deferred revenue | $148,621 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $9,557,266 |
| Other liabilities | $271,428 |
| Total liabilities | $10,116,837 |
Grants Awarded
Over the last fiscal year, Hope Center Foundation has awarded $18,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
E3 PURPOSE: HOPE FOR EASTERN EUROPE | $2,000 |
JONI AND FRIENDS PURPOSE: HOPE FOR EASTERN EUROPE | $2,000 |
ORPHAN OUTREACH PURPOSE: HOPE FOR EASTERN EUROPE | $2,000 |
SERVING HIM PURPOSE: HOPE FOR EASTERN EUROPE | $2,000 |
STRATEGIC ANGEL CARE PURPOSE: HOPE FOR EASTERN EUROPE | $2,000 |
UNTO PURPOSE: HOPE FOR EASTERN EUROPE | $2,000 |