Community Of Hope
- Assets
- $5.1m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 9
- Location
- Melbourne, FL
- Founding
- 10/2005
- Data as of
- 12/2023
- EIN
- 42-1668898
Organization Overview
Community Of Hope is located in Melbourne, FL. The organization was established in 2005. 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, Community Of Hope employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Of Hope 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, Community Of Hope generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.6% each year . All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 27.7% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HOUSING FOR HOMELESS FAMILIES WITH CHILDREN. COMMUNITY OF HOPE HAS TRANSITIONAL HOUSING, LOW COST PERMANENT HOUSING, AND SHORT STAY HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PERMANENT SUPPORTIVE HOUSING (PSH):OUR EXPERIENCE WITH TRANSITIONAL HOUSING LED US TO UNDERSTAND AND ACKNOWLEDGE THAT SOME HOUSEHOLDS ARE NOT REASONABLY ABLE TO "PULL THEMSELVES UP BY THE BOOTSTRAPS AND BECOME SELF-SUFFICIENT IN THE TIME-FRAME ALLOTTED IN A TRANSITIONAL PROGRAM. IN FACT, THIS MAY NOT BE AN APPROPRIATE GOAL DUE TO HEALTH, MENTAL HEALTH, OR OTHER FACTORS BEYOND THE INDIVIDUAL'S CONTROL. FOR THESE HOUSEHOLDS WE PROVIDE PERMANENT HOUSING AS LONG AS THEY MEET THE REQUIREMENTS OF THE PROGRAM.
TRANSITIONAL HOUSING (TH):TRANSITIONAL HOUSING WAS OUR FIRST PROGRAM AND IS STILL KEY TO WHAT COH DOES. THIS PROGRAM ALLOWS FAMILIES TO HAVE SUPPORTIVE SERVICES WHILE STABILIZING IN A SAFE AND AFFORDABLE HOME. THE FEES FOR THIS PROGRAM PAY FOR SERVICES, RENT, AND UTILITIES. THIS FEE IS BASED ON INCOME AND IS NOT MORE THAN 30% OF THE TOTAL INCOME OF THE HOUSEHOLD.
HOPE HOUSING SERVICES (HHS):CONSIDERING THE INCREASING GAP BETWEEN TYPICAL HOUSEHOLD INCOME AND THE AVERAGE COST OF HOUSING IN BREVARD, COMMUNITY OF HOPE DOES NOT HAVE THE INVENTORY TO MEET THE NEEDS OF FAMILIES IN BREVARD. WE ARE INCREASING OUR INVENTORY AS INDICATED IN THE GOALS AND OBJECTIVES BELOW. HOWEVER, WE ARE ALSO WORKING WITH PRIVATE LANDLORDS BY HELPING FAMILIES SECURE FUNDING THAT HELPS OFFSET THE EXPENSE OF MARKET BASED HOUSING AND PROVIDING CASE MANAGEMENT SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Drew Warren Chief Executive Director | 40 | $67,673 | |
David Young President | Officer | 20 | $0 |
Tracy Masters Vice President | Officer | 2 | $0 |
Kimberly Hewatt 2nd Vice Presid | Officer | 2 | $0 |
Alyssa Buchanan Secretary | Officer | 2 | $0 |
Bartow Willingham Treasurer | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $804,101 |
| All other contributions, gifts, grants, and similar amounts not included above | $231,420 |
| Noncash contributions included in lines 1a–1f | $16,281 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,035,521 |
| Total Program Service Revenue | $474,240 |
| Investment income | $991 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $33,609 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,544,361 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $713,841 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $67,673 |
| Compensation of current officers, directors, key employees. | $9,535 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $143,094 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $21,114 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,151 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,575 |
| Office expenses | $10,522 |
| Information technology | $8,468 |
| Royalties | $0 |
| Occupancy | $11,829 |
| Travel | $15,606 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,070 |
| Interest | $38,131 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $79,998 |
| Insurance | $15,857 |
| All other expenses | $82,987 |
| Total functional expenses | $1,530,769 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99,378 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $62,460 |
| 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 | $36,778 |
| Net Land, buildings, and equipment | $4,891,488 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,434 |
| Total assets | $5,097,538 |
| Accounts payable and accrued expenses | $120,070 |
| Grants payable | $0 |
| Deferred revenue | $2,255,698 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $11,464 |
| Secured mortgages and notes payable | $1,636,529 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $203,405 |
| Total liabilities | $4,227,166 |
| Net assets without donor restrictions | $870,372 |
| 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 | $5,097,538 |