Hope Chest For Breast Cancer Foundation
- Assets
- $908.2k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 6
- Location
- Wayzata, MN
- Founding
- 07/2002
- Data as of
- 12/2022
- EIN
- 41-2019565
Organization Overview
Hope Chest For Breast Cancer Foundation is located in Wayzata, MN. The organization was established in 2002. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Hope Chest For Breast Cancer Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Chest For Breast Cancer Foundation 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, Hope Chest For Breast Cancer Foundation generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. While expenses have increased by 3.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.TO PROVIDE THE QUICKEST ACCESS TO HELP WITH THE MOST URGENT NEEDS OF LOCAL BREAST CANCER PATIENTS AND THEIR FAMILIES IN MINNESOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THE QUICKEST ACCESS TO HELP WITH THE MOST URGENT NEEDS OF LOCAL BREAST CANCER PATIENTS AND THEIR FAMILIES. MANY OF THE PATIENTS ARE IN NEED OF FINANICAL ASSISTANCE AS SOON AS THEY ARE DIAGNOSED. THE ABLITY TO GET FINANICAL RELIEF IN THE QUICKEST, MOST EFFICIENT WAY IS WHY HOPE CHEST EXISTS.
THE HOPE CHEST FOR BREAST CANCER USES A BUSINESS MODEL THAT GENERATES A CONSISTENT REVENUE STREAM THAT HELPS TO CREATE AN ONGOING, SUSTAINABLE CONTRIBUTION TO THE FOUNDATION'S EMERGENCY ASSISTANCE PROGRAM. THE FOUNDATION ACCEPTS DONATIONS OF UPSCALE FURNITURE, ACCESSORIES AND DESIGNER WOMEN'S CLOTHING. IT THEN UTILILIZES A RESALE STORE TO CONVERT THESE DONATIONS TO CASH. THROUGH THE THRIFT STORE THE FOUNDATION HAS DEVELOPED, WITH DONOR SUPPORT, A SUSTAINABLE PROGRAM THROUGH WHICH HELP IS PROVIDED.
THE ORGANIZATION VOLUNTEERS AT MANY CANCER COMMUNITY EVENTS. PARTICPATION IN THESE HELPS THE ORGANIZATION STAY INFORMED OF BREAST CANCER, ALLOWS THE OPPORTUNITY TO CONNECT TO THE MEDICAL PROFESSIONALS AND THE CLINICS THAT HAVE DIRECT CONTACT WITH PATIENTS WHO ARE IN NEED OF FINANICAL ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsey Hagan Chair | OfficerTrustee | 1 | $0 |
Callie Briese Vice Chair | OfficerTrustee | 1 | $0 |
Karen Larson Treasurer | OfficerTrustee | 1 | $0 |
Shannon Mcdonough Secretary | OfficerTrustee | 1 | $0 |
Dr Stuart Bloom Director | Trustee | 1 | $0 |
Elizabeth Grabek Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $113,543 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,279,012 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,392,555 |
| Total Program Service Revenue | $0 |
| Investment income | $4,760 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$44,295 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,354,134 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $196,500 |
| 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 | $150,693 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $155,068 |
| Advertising and promotion | $23,100 |
| Office expenses | $20,712 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,598 |
| 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 | $12,024 |
| Insurance | $3,511 |
| All other expenses | $0 |
| Total functional expenses | $1,402,540 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $319,793 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,464 |
| 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 | $33,438 |
| Net Land, buildings, and equipment | $30,262 |
| Investments—publicly traded securities | $490,202 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $908,159 |
| Accounts payable and accrued expenses | $36,489 |
| 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 | $36,489 |
| Net assets without donor restrictions | $860,584 |
| Net assets with donor restrictions | $11,086 |
| 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 | $908,159 |
Grants Awarded
Over the last fiscal year, Hope Chest For Breast Cancer Foundation has awarded $63,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
REGIONS HOSPITAL PURPOSE: DIRECT GRANTS FOR MOST URGENT NEEDS OF LOCAL BREAST CANCER PATIENTS AND THEIR FAMILILIES | $3,000 |
PARK NICOLLET FOUNDATION PURPOSE: DIRECT GRANTS FOR MOST URGENT NEEDS OF LOCAL BREAST CANCER PATIENTS AND THEIR FAMILILIES | $2,000 |
MAYO CLINIC FOUNDATION PURPOSE: DIRECT GRANTS FOR MOST URGENT NEEDS OF LOCAL BREAST CANCER PATIENTS AND THEIR FAMILILIES | $3,000 |
OPEN ARMS OF MINNESOTA PURPOSE: DIRECT GRANTS FOR MOST URGENT NEEDS OF LOCAL BREAST CANCER PATIENTS AND THEIR FAMILILIES | $55,000 |