Many Hopes Inc
- Assets
- $3.0m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 8
- Location
- New York, NY
- Founding
- 03/2009
- Data as of
- 12/2022
- EIN
- 39-2067502
Organization Overview
Many Hopes Inc is located in New York, NY. The organization was established in 2009. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, Many Hopes Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Many Hopes 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 12/2022, Many Hopes Inc generated $3.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $3.6m during the year ending 12/2022. While expenses have increased by 13.2% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION SHALL HELP TO SUSTAIN, ENHANCE AND DEVELOP THE RESOURCES, PROGRAMS, AND FUTURE EXPANSION OF ORGANIZATIONS AROUND THE WORLD THAT ARE RESCUING, EDUCATING, AND ADVOCATING FOR ORPHANED, ABANDONED, ABUSED OR ENSLAVED CHILDREN. THE ORGANIZATION SHALL HELP TO GENERATE PUBLIC AWARENESS OF, AND FUNDS FOR, THE ORGANIZATIONS, SCHOOLS, ORPHANAGES, AND CHILD RESCUE AND REHABILITATION PROGRAMS AND CAPITAL PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION WAS FOUNDED TO HOUSE AND EDUCATE ORPHANED AND ABANDONED CHILDREN IN KENYA. THIS YEAR IT EXPANDED TO SIX NEW PARTNERSHIPS IN MALAWI, GHANA, GUATEMALA, BOLIVIA AND PERU. FUNDS RAISED WERE GRANTED TO: 1. RESCUE CHILDREN FROM SLAVERY TRAFFICKING, SEXUAL ABUSE AND ABANDONMENT. 2. PROVIDE A SAFE PLACE TO LIVE AND RECEIVE CARE AND HEALING FROM TRAUMA. 3. EDUCATE CHILDREN AT ELEMENTARY SCHOOL, HIGH SCHOOL, AND COLLEGE LEVELS AND PROVIDE MENTORING IN JUSTICE AND CIVICS SO THEY CAN BECOME ADULTS EQUIPPED TO LEAD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maxine Friedman President | OfficerTrustee | 4 | $0 |
Becky Welday Treasurer | OfficerTrustee | 7 | $0 |
Nelson Mills Director | Trustee | 4 | $0 |
Joseph Zito Director | Trustee | 4 | $0 |
Nitin Gambhir Director | Trustee | 4 | $0 |
Bo Han Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $366,438 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,563,443 |
| Noncash contributions included in lines 1a–1f | $3,056 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,929,881 |
| Total Program Service Revenue | $0 |
| Investment income | $39,278 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$42,443 |
| Net Income from Fundraising Events | -$28,856 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,897,860 |
| 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 | $2,669,055 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $23,850 |
| Compensation of current officers, directors, key employees. | $23,850 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $387,629 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,297 |
| Payroll taxes | $37,877 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,109 |
| Fees for services: Other | $219,247 |
| Advertising and promotion | $85,194 |
| Office expenses | $80,852 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,994 |
| Travel | $67,734 |
| 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 | $3,683 |
| All other expenses | $0 |
| Total functional expenses | $3,633,521 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,392,697 |
| Savings and temporary cash investments | $34,680 |
| Pledges and grants receivable | $133,500 |
| 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 | $1,451,806 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,012,683 |
| Accounts payable and accrued expenses | $32,258 |
| 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 | $0 |
| Total liabilities | $32,258 |
| Net assets without donor restrictions | $1,469,425 |
| Net assets with donor restrictions | $1,511,000 |
| 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 | $3,012,683 |