Hope Lutheran Foundation
- Assets
- $3.9m
- Revenue
- $399.0k
- Investments
- $3.7m
- Employees
- 0
- Location
- Fargo, ND
- Founding
- 07/1980
- Data as of
- 12/2021
- EIN
- 45-0357492
Organization Overview
Hope Lutheran Foundation is located in Fargo, ND. The organization was established in 1980. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Lutheran 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 12/2021, Hope Lutheran Foundation generated $399.0k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.7% each year . All expenses for the organization totaled $112.3k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE HOPE LUTHERAN FOUNDATION IS TO RECEIVE AND MAINTAIN FUNDS OF REAL AND/OR PERSONAL PROPERTY AND TO USE THE INCOME FOR CHARITABLE, RELIGIOUS, LITERARY OR EDUCATION PURPOSES, INCLUDING SUCH PURPOSES AS MAY BE UNDERTAKEN, APPROVED OR SUPPORTED BY HOPE LUTHERAN CHURCH OF FARGO, ND. THE MISSION: THE HOPE LUTHERAN FOUNDATION WORKS TO ENCOURAGE ALL PEOPLE TO KNOW THE LOVE OF CHRIST BY HELPING SUPPORT CHRISTIAN EFFORTS IN OUR COMMUNITY, COUNTRY, AND AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOPE LUTHERAN FOUNDATION SUPPORTS THE MISSION AND MINISTRY OF HOPE LUTHERAN CHURCH. THIS IS ACCOMPLISHED THROUGH FINANCIALLY SUPPORTING PROGRAM MINISTRIES, THE INFRASTRUCTURE AND TECHNOLOGY NEEDS OF THE CHURCH AND BENEVOLENCES IN THE COMMUNITY, COUNTRY AND AROUND THE WORLD. HOPE LUTHERAN FOUNDATION ALSO OFFERS SEMINARS TO THE COMMUNITY REGARDING TAX LAWS, WILLS AND ESTATES AND RETIREMENT PLANNING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dale Weston Vice President | OfficerTrustee | 1 | $0 |
Valeska Hermanson President/chairperson | OfficerTrustee | 1 | $0 |
Bruce Bollinger Treasurer | OfficerTrustee | 1 | $0 |
Tom Rohleder Board Member | Trustee | 1 | $0 |
Matt Osborne Board Member | Trustee | 1 | $0 |
Larry O'callaghan Board Member | Trustee | 1 | $0 |
Financial Statements
| 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 | $277,150 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $277,150 |
| Total Program Service Revenue | $0 |
| Investment income | $62,709 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $59,119 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $398,978 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $85,601 |
| 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 | $0 |
| 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 | $4,505 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,885 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $300 |
| All other expenses | $0 |
| Total functional expenses | $112,291 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,182 |
| Savings and temporary cash investments | $210,809 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—other securities | $3,695,489 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,930,480 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $1,197,610 |
| Net assets with donor restrictions | $2,732,870 |
| 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 | $3,930,480 |
Grants Awarded
Over the last fiscal year, Hope Lutheran Foundation has awarded $15,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Fargo, ND PURPOSE: GENERAL SUPPORT | $5,000 |
Minneapolis, MN PURPOSE: GENERAL SUPPORT | $5,000 |
Minot, ND PURPOSE: GENERAL SUPPORT | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Hope Lutheran Foundation has recieved totaling $9,478.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $9,478 |
Endowment Analysis
| Beg. Balance | $2,314,174 |
| Earnings | $335,286 |
| Net Contributions | $241,177 |
| Other Expense | -$57,767 |
| Ending Balance | $2,832,870 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Immanuel Lutheran Corporation Of Kalispell Montana Kalispell, MT | $74,381,473 | $25,428,001 |
Association Of Hutterian Brethren Churches Inc Aberdeen, SD | $14,512,217 | $27,857,692 |
Training Leaders International Minneapolis, MN | $2,737,195 | $5,107,369 |
Thrivent Financial for Lutherans Foundation Minneapolis, MN | $0 | $8,333,726 |
Lutheran Brethren Woodland Lodge Inc Fergus Falls, MN | $3,043,872 | $1,494,856 |
Fellowship Missionary Baptist Church Inc Minneapolis, MN | $4,348,803 | $1,421,662 |
Youth For Christ Usa Inc Willmar, MN | $718,542 | $1,231,617 |
International Gospel Outreach Stillwater, MN | $404,671 | $1,032,820 |
Congregations Caring For Creation Minneapolis, MN | $507,396 | $903,320 |
Potters Field Ranch Inc Whitefish, MT | $1,025,013 | $903,929 |
Kingdom Capital Fund Sioux Falls, SD | $2,710,930 | $1,855,135 |
Overcomers International Fellowship St Cloud, MN | $425,795 | $522,804 |