Homes Of Hope Inc
- Assets
- $665.2k
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 44
- Location
- Normal, IL
- Founding
- 07/1992
- Data as of
- 06/2024
- EIN
- 37-1290594
Organization Overview
Homes Of Hope Inc is located in Normal, IL. The organization was established in 1992. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 06/2024, Homes Of Hope Inc employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homes 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 06/2024, Homes Of Hope Inc generated $2.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.9% each year. All expenses for the organization totaled $2.7m during the year ending 06/2024. While expenses have increased by 10.0% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING ASSISTANCE AND TRAINING TO DEVELOPMENTALLY DISABLED INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESIDENTIAL LIVING AND SUPPORT FOR INDIVIDUAL RESIDENTS WHOM ARE DEVELOPMENTALLY DISABLED. THE ORGANIZATION OPERATES RESIDENCES IN BLOOMINGTON-NORMAL FOR DISABLED INDIVIDUALS IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maggie Murphy Severino President | OfficerTrustee | 2 | $0 |
Larry Hopkins Treasurer | OfficerTrustee | 2 | $0 |
Paula Porter Vice President | OfficerTrustee | 2 | $0 |
Dr Susan Prendergast Secretary | OfficerTrustee | 2 | $0 |
Paula Sweeney Board Member | Trustee | 1 | $0 |
Kori Folkerts Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $114,307 |
| Government grants | $2,167,322 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,533 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,287,162 |
| Total Program Service Revenue | $371,616 |
| Investment income | $0 |
| 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 | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,670,326 |
| 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. | $112,121 |
| Compensation of current officers, directors, key employees. | $70,636 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,582,694 |
| Pension plan accruals and contributions | $44,314 |
| Other employee benefits | $91,910 |
| Payroll taxes | $128,412 |
| Fees for services: Management | $429,382 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $93,540 |
| Travel | $0 |
| 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 | $29,339 |
| Insurance | $26,111 |
| All other expenses | $39,814 |
| Total functional expenses | $2,734,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $196,876 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $223,135 |
| Accounts receivable, net | $44,074 |
| 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 | $97,022 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $104,059 |
| Total assets | $665,166 |
| Accounts payable and accrued expenses | $166,876 |
| Grants payable | $0 |
| Deferred revenue | $56,632 |
| 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 | $102,776 |
| Total liabilities | $326,284 |
| Net assets without donor restrictions | $338,882 |
| 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 | $665,166 |