Hope & A Future Iii Inc
- Assets
- $1.2m
- Revenue
- $348.1k
- Investments
- $0.0
- Employees
- 16
- Location
- Madison, WI
- Founding
- 02/2010
- Data as of
- 12/2021
- EIN
- 27-1019237
Organization Overview
Hope & A Future Iii Inc is located in Madison, WI. The organization was established in 2010. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Hope & A Future Iii Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope & A Future Iii 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 12/2021, Hope & A Future Iii Inc generated $348.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $291.4k during the year ending 12/2021. While expenses have increased by 3.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE FOSTERING OF DECENT HOUSING WHICH IS AFFORDABLE BY LOW-INCOME AND MODERATE-INCOME HOUSEHOLDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOPE & A FUTURE CURRENTLY OPERATES A LICENSED ADULT FAMILY HOME (AFH) THAT PROVIDES CARE TO OLDER ADULTS WITH A WIDE VARIETY OF DIAGNOSES. OUR PIONEERING MODEL INCLUDES A LIVE-IN REGISTERED NURSE AND OCCUPATIONAL THERAPIST AS WELL AS HANDS ON CARE GIVERS WHO RECEIVE ROOM AND BOARD IN EXCHANGE FOR HELPING WITH EVENING AND WEEKEND HOURS. THIS MODEL OVERCOMES THE CAREGIVER CRISIS AND GIVES SENIORS A STABLE STAFF WHILE ALSO PROVIDING LOW-INCOME WAGE EARNERS A STABLE HOME IN THE CONTEXT OF A FAMILY OF FRIENDS. OUR AFH IS HOME TO SENIOR RESIDENTS, STAFF, AND SOMETIMES THE STAFF'S CHILDREN. STAFF AND RESIDENTS ENJOY GOAL-DIRECTED LIVING AND THE SUPPORT OF EACH OTHER. THE HEALTH OF OLDER ADULTS IMPROVES EVEN IN THE FACE OF ADVANCING DISEASE AND DEMENTIA. RESIDENTS FLOURISH TOGETHER. AND WHEN THE END OF LIFE COMES, WE WORK WITH HOSPICE ALLOWING RESIDENTS TO REMAIN WITH THEIR FAMILY OF FRIENDS. WHILE HOPE & A FUTURE NORMALLY ENJOYS ROBUST INTERACTION WITH COMMUNITY VOLUNTEERS, THE PANDEMIC BROUGHT AN ABRUPT HALT TO MANY OF OUR REGULAR EVENTS AND COMMUNITY VOLUNTEER OPPORTUNITIES. WE NAVIGATED COMMUNITY INVOLVEMENT AND SOME VOLUNTEER ACTIVITIES VIRTUALLY. FAMILY AND LOVED ONES ALSO UTILIZED PHONES, TECHNOLOGY AND OUR VISITING "BUBBLE" WHICH IS A ROOM WITHIN A ROOM WITH A VISITING WINDOW. WE ARE HAPPY TO REPORT THAT THE COVID VIRUS DID NOT GET INTO OUR BUILDING AND WE ARE ALL NOW FULLY IMMUNIZED AND BOOSTED. HAVING MOST OF OUR STAFF LIVING ONSITE, WE WERE ABLE TO CONTINUE TO FUNCTION AS A FAMILY AND KEEP LIFE INTERESTING AND FUN FOR OUR RESIDENTS. DURING THIS UNUSUAL TIME WE WERE ABLE TO WORK VIRTUALLY WITH GOVERNING BODIES ON THE MANY SILOS OF REGULATION AFFECTING OUR ABILITY TO MOVE FORWARD WITH OUR PIONEERING TIIN MODEL. IN 2021 WE IDENTIFIED A MODEL THAT RECEIVED THE GO AHEAD FROM GOVERNING AUTHORITIES. WE ARE CURRENTLY ENGAGED IN PLANNING FOR AN EXPANSION OF HOUSING AND SERVICES. WE HAVE CONTRACTS WITH OUR EXPANSION TEAM INCLUDING ARCHITECTS, ENGINEERS, DEVELOPMENT AND FINANCING SPECIALISTS AND A CONSULTANT WHO IS COACHING US ON HOW TO PREPARE FOR A CAPITAL CAMPAIGN. FUND RAISING WILL BEGIN IN 2022 AND OUR GOAL IS TO BREAK GROUND IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karin Krause Executive Director | Officer | 48 | $44,764 |
Paula Reif Vice President | OfficerTrustee | 1 | $0 |
Jean Collins Secretary | OfficerTrustee | 1 | $0 |
Derek Kraemer Treasurer | OfficerTrustee | 1 | $0 |
Mark Barnard President | Officer | 1 | $0 |
Terri Alexander Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,569 |
| Related organizations | $0 |
| Government grants | $22,044 |
| All other contributions, gifts, grants, and similar amounts not included above | $64,738 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $88,351 |
| Total Program Service Revenue | $253,835 |
| Investment income | $1,462 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $1,046 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $348,069 |
| 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. | $46,640 |
| Compensation of current officers, directors, key employees. | $11,660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $102,131 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,197 |
| Payroll taxes | $11,459 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,311 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,218 |
| Advertising and promotion | $690 |
| Office expenses | $7,347 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $68,239 |
| Travel | $34 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,360 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,161 |
| Insurance | $300 |
| All other expenses | $0 |
| Total functional expenses | $291,419 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $131,391 |
| Savings and temporary cash investments | $142,892 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,512 |
| 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 | $887,844 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,166,639 |
| Accounts payable and accrued expenses | $11,249 |
| Grants payable | $0 |
| Deferred revenue | $7,564 |
| 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 | $720,527 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,000 |
| Total liabilities | $746,340 |
| Net assets without donor restrictions | $299,911 |
| Net assets with donor restrictions | $120,388 |
| 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 | $1,166,639 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Hope & A Future Iii Inc has recieved totaling $33,209.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $33,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $209 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Family Housing Fund Minneapolis, MN | $55,836,528 | $42,355,449 |
Nef Community Investments Inc Chicago, IL | $49,835,744 | $69,249,511 |
Alliance For Housing Oakland County Continuum Of Care Pontiac, MI | $25,935,962 | $39,151,253 |
Aeon Minneapolis, MN | $205,354,447 | $34,369,814 |
Resurrection Project Chicago, IL | $50,016,508 | $28,523,400 |
Governmental And Educational Assistance Corporation Brooklyn Park, MN | $65,629,127 | $32,792,478 |
Habitat For Humanity International Inc St Paul, MN | $95,417,664 | $44,081,313 |
One Vision Clear Lake, IA | $49,722,327 | $26,134,344 |
Elevate Housing Foundation Lincolnwood, IL | $28,372,310 | $19,775,453 |
Trellis Co Minneapolis, MN | $174,341,513 | $41,938,944 |
Integrated Community Services Inc Green Bay, WI | $950,571 | $23,339,700 |
Community Investment Corp Chicago, IL | $332,682,140 | $31,622,758 |