Hope Community Inc is located in Minneapolis, MN. The organization was established in 1977. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Hope Community Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Community 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 12/2023, Hope Community Inc generated $3.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $4.7m during the year ending 12/2023. While expenses have increased by 10.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HOPE COMMUNITY CREATES CONNECTIONS THAT STRENGTHEN THE POWER OF COMMUNITY MEMBERS AND COMMUNITIES. HOPE CULTIVATES CNITY LEADERS, BUILD COMMUNITY CAPACITY, CARE FOR THE HOUSING AND COMMUNITY SPACES WE DEVELOP, AND PURSUE EQUITY AND DIVERSITY IN ALL THAT WE DO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY ENGAGEMENT- HOPE HAS COMPLETED ITS 14TH GROWING SEASON IN THE COMMUNITY GARDENS, RENOVATED THE YOUTH GARDEN WITH WALKING PATHS, IRRIGATION AND AN ORCHARD. HOPE COMPLETED THE 4TH YEAR OF TRANSFORMATIONAL CREATIVE STRATEGIES TRAINING (TRCSTR) WITH 8 COMMUNITY ARTISTS WITH A FOCUS ON BIPOC ARTISTS, TO WORK EFFECTIVELY WITH COMMUNITY AND SOCIAL JUSTICE ORGANIZERS TO EMPLOY PUBLIC ART AS A STRATEGY FOR COMMUNITY BUILDING AND ORGANIZING.HOPE CONTINUES TO HOST AND ENGAGE COMMUNITY MEMBERS IN TWO ANNUAL CYCLES OF NEIGHBORHOOD DEVELOPMENT CENTER'S (NDC) "PLAN IT" TRAINING FOR ASPIRING ENTREPRENEURS TO DEVLOP BUSINESS PLANS AND NETWORKS OF SUPPORT.
REAL ESTATE DEVELOPMENT-HOPE'S WORK WITH REAL ESTATE AND PUBLIC SPACE FEATURES AN INNOVATIVE, ENTREPRENEURIAL APPROACH TO COMMUNITY DEVELOPMENT, AND HOPE HAS DEVELOPED A CRITICAL MASS OF HOUSING, INDOOR AND OUTDOOR COMMUNITY SPACE (INCLUDING HOPE'S OFFICES AND COMMUNITY CENTER), AND SPACE FOR TWO NEIGHBORHOOD BUSINESSES THAT ARE CHANGING THE FACE OF A FORMERLY DEVASTATED NEIGHBORHOOD. SOUTH QUARTER, A MAJOR DEVELOPMENT (IN PARTNERSHIP WITH AEON) REFLECTS 20+ YEARS OF PERSISTENT VISION AND STRATEGY TO DEVELOP A CRITICAL MASS OF COMMUNITY-FOCUSED HOUSING ON ALL FOUR CORNERS OF THE PORTLAND AND FRANKLIN INTERSECTION. IN TOTAL, HOPE HAS DEVELOPED 237 UNITS OF HOUSING (70% AFFORDABLE, 30% MARKET RATE), 25,000 SQUARE FEET OF RETAIL, OFFICE AND COMMUNITY SPACE, AND 7,500 SQUARE FEET OF URBAN AGRICULTURE SPACE IN THE BLOCKS AROUND THAT INTERSECTION. IN 2023, HOPE AND THE CITY OF LAKES COMMUNITY LAND TRUST COMPLETED CONSTRUCTION ON THE LARGEST VACANT BUILDING IN THE CITY AT 628 EAST FRANKLIN, WHICH ARE SEVEN PERPETUALLY AFFORDABLE LAND TRUST CONDOMINIUM OPPORTUNITIES.
HOUSING AND ASSET MANAGEMENT- STABLE, HEALTHY AND AFFORDABLE HOUSING IN A SUPPORTIVE COMMUNITY ENVIRONMENT IS AN EFFECTIVE WAY FOR INDIVIDUALS AND FAMILIES TO MEET THE CHALLENGES OF POVERTY AND ISOLATION IN AN URBAN ENVIRONMENT. HOPE'S RELATIONSHIPS WITH RESIDENTS ARE ROOTED IN RESPECT AND MUTUAL ACCOUNTABILITY. HOPE'S PROPERTIES ARE MANAGED BY TWO PROFESSIONAL PROPERTY MANAGEMENT COMPANIES. AS A PROPERTY OWNER COMMITTED TO ITS BUILDINGS FOR THE LONG-TERM, HOPE IS RESPONSIBLE FOR THE TRADITIOANL DUTIES OF A REAL ESTATE ASSET MANAGER- FINANCIAL OVERSIGHT, SELECTION OF A PROPERTY MANAGER, COMPLIANCE WITH REGULATORY AGREEMENTS, CAPITAL IMPROVEMENT PLANNING, ETC. HOWEVER, JOPE'S APPROACH TO ASSET MANAGEMENT INVOLVES A MUCH BROADER UNDERSTANDING OF HOW TO MAINTAIN ITS REAL ESTATE AS A LONG-TERM ASSET. KEY TO THAT UNDERSTANDING IS RELATIONSHIP-MAINTAINING RELATIONSHIPS WITH RESIDENTS, FUNDERS, GOVERNMENT PARTNERS, NEIGHBORS, COMMUNITY MEMBERS, AND MANY OTHERS. HOPE IS INVOLVED WITH GROUPS SUCH AS THE LOCAL BUSINESS ASSOCIATION AND NEIGHBORHOOD ASSOCIATION. CONSIDERABLE EFFORT IS SPENT TO CONNECT THE DISTINCT FUNCTIONS OF HOPE'S COMMUNITY ENGAGEMENT AND PROPERTY MANAGEMENT WORK.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Ani Ryan Koch Director | Trustee | 1 | $0 |
C Terrence Anderson Director | Trustee | 1 | $0 |
Candice Rosalez Secretary | OfficerTrustee | 2 | $0 |
Olivia Jefferson Director | Trustee | 1 | $0 |
Claire Chang Director | Trustee | 1 | $0 |
Dan Mclean Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $2,343,551 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,343,551 |
Total Program Service Revenue | $944,523 |
Investment income | $35,154 |
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 | $3,529,911 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $1,749,765 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $166,676 |
Payroll taxes | $150,671 |
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 | $0 |
Fees for services: Other | $228,470 |
Advertising and promotion | $17,894 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $342,007 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $225,377 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $587,087 |
Insurance | $100,992 |
All other expenses | $138,134 |
Total functional expenses | $4,684,312 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $385,685 |
Savings and temporary cash investments | $674,138 |
Pledges and grants receivable | $397,924 |
Accounts receivable, net | $157,502 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $733,064 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $43,721 |
Net Land, buildings, and equipment | $8,254,855 |
Investments—publicly traded securities | $643,017 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $710,828 |
Total assets | $12,000,734 |
Accounts payable and accrued expenses | $385,026 |
Grants payable | $0 |
Deferred revenue | $1,117,643 |
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 | $6,415,180 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $87,840 |
Total liabilities | $8,005,689 |
Net assets without donor restrictions | $3,417,045 |
Net assets with donor restrictions | $578,000 |
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 | $12,000,734 |