Hope Venture
- Assets
- $506.5k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 10
- Location
- Lincoln, NE
- Founding
- 02/2010
- Data as of
- 12/2023
- EIN
- 27-0863959
Organization Overview
Hope Venture is located in Lincoln, NE. The organization was established in 2010. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2023, Hope Venture employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Venture 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 Venture generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 12.5% per year over the past 5 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
THE HOPE VENTURE EXISTS TO BRING HOPE AND DIGNITY TO THE MOST DISADVANTAGED PEOPLE IN THE WORLD THROUGH EDUCATION AND HEALTH PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENTS: THE HOPE VENTURE FINISHED 2023 BY SUPPORTING 661 TOTAL STUDENTS WITH THEIR EDUCATION, IN SUB-SAHARAN AFRICA AND SOUTH ASIA. THIS PROJECT PRIMARILY HELPS HIGH SCHOOL STUDENTS IN KENYA, WHERE THE DROPOUT RATE BY HIGH SCHOOL IS NEARLY 60%. IN ADDITION TO THAT, THIS PROJECT ALSO SPONSORS A FEW STUDENTS IN UGANDA, AS WELL AS HELPS SCHOLARSHIP STUDENTS IN KENYA, RWANDA, AND SOUTH ASIA
FORM 990, PART III, LINE 4D: BREAKDOWN OF OTHER PROGRAM SERVICES: EDUCATION SKILLS: $24,272; EDUCATION CENTERS: $59,339; FOOD: $84,050; WATER: $11,823; MISC AID $3,457; FIELD COORD: $11,346; MISC PROGRAM EXPENSES AS OUTLINED IN FORM 990 PART IX, COLUMN B: $232,402
CENTERS: IN 2023, THE HOPE VENTURE WAS ABLE TO PROVIDE AN ORGANIZATION NAMED "HOME OF HOPE" ADDITIONAL FUNDING IN ORDER FOR THEM TO CONTINUE THEIR CONSTRUCTION OF A NURSING COLLEGE. THERE ARE MANY NEEDS THE ORGANIZATION HAS PROVIDING FOR THE PHYSICALLY DISABLED AND HOMELESS. ONE OF THEM BEING THE REQUIREMENT OF MEDICAL CARE. THE NURSING COLLEGE IS BEING BUILT IN ORDER TO HELP MEET THOSE NEEDS. WE ALSO PROVIDED FUNDS TO AN ORGANIZATION IN UGANDA TO HELP IN THE CONSTRUCTION OF A PREGNANCY CLINIC. THE CLINIC WILL PROVIDE SAFE PREGNANCY CARE AND DELIVERY FOR WOMEN IN NEED.
EDUCATION SUPPLIES: IN 2023 THE HOPE VENTURE HELPED 7,720 CHILDREN HAVE THE SUPPLIES THEY NEEDED FOR A YEAR OF SCHOOLING THROUGH OUR BACKPACK PROJECT IN SOUTH ASIA. THESE CHILDREN COME FROM INCREDIBLY POOR BACKGROUNDS WHERE MANY OF THE FAMILIES HAVE NEVER RECEIVED SUCH A GIFT AND WHERE THERE IS LITTLE MONEY LEFTOVER FOR SCHOOL SUPPLIES. IN ADDITION, OUR SUPPLIES INCLUDED UNIFORMS FOR HIGH SCHOOL STUDENTS IN UGANDA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cynthia Petersen Executive Director | OfficerTrustee | 40 | $38,333 |
John Kroeker Vice Chairman | OfficerTrustee | 1 | $0 |
Cody Colgrove Treasurer | OfficerTrustee | 1 | $0 |
Ben Cohoon Secretary | OfficerTrustee | 1 | $0 |
Tramaine Combs Board Member | Trustee | 1 | $0 |
Marla Styles Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $338,202 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,208,204 |
| Noncash contributions included in lines 1a–1f | $13,751 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,546,406 |
| Total Program Service Revenue | $0 |
| Investment income | $15,780 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$61,410 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,500,776 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,035 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $848,500 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $38,333 |
| Compensation of current officers, directors, key employees. | $12,777 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $286,223 |
| Pension plan accruals and contributions | $8,102 |
| Other employee benefits | $43,900 |
| Payroll taxes | $23,854 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $114 |
| Fees for services: Accounting | $3,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,063 |
| Advertising and promotion | $38,528 |
| Office expenses | $31,171 |
| Information technology | $1,587 |
| Royalties | $0 |
| Occupancy | $18,693 |
| Travel | $92,364 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,789 |
| All other expenses | $0 |
| Total functional expenses | $1,462,506 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $506,543 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $506,543 |
| Accounts payable and accrued expenses | -$4,188 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,283 |
| Total liabilities | $15,095 |
| Net assets without donor restrictions | $491,448 |
| Net assets with donor restrictions | $0 |
| 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 | $506,543 |