Hopewell Music Cooperative-North
- Assets
- $257.1k
- Revenue
- $332.9k
- Investments
- $0.0
- Employees
- 15
- Location
- Minneapolis, MN
- Founding
- 01/2014
- Data as of
- 12/2022
- EIN
- 46-0547282
Organization Overview
Hopewell Music Cooperative-North is located in Minneapolis, MN. The organization was established in 2014. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Hopewell Music Cooperative-North employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hopewell Music Cooperative-North 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, Hopewell Music Cooperative-North generated $332.9k in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $324.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 5 years. 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
HOPEWELL'S MISSION IS TO IMPROVE ACCESS TO MUSIC EDUCATION IN NORTH MINNEAPOLIS THROUGH AFFORDABLE, INCLUSIVE, AND ENGAGING MUSIC PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL PROGRAMMING - OUR MUSIC PROGRAMMING CONSISTS OF OUR LESSON PROGRAM, ENSEMBLES, GROUP CLASSES, AND EARLY CHILDHOOD EDUCATION. WE OFFER A SLIDING SCALE RATE FOR OUR LESSON, GROUP CLASSES AND EARLY CHILDHOOD PROGRAMMING. ALL OF OUR ENSEMBLES ARE FREE TO JOIN FOR COMMUNITY MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrea Myers Executive Director | Officer | 35 | $45,763 |
Shemeka Bogan Board Member | Officer | 1 | $0 |
Joe Clements Board Chair | Officer | 1 | $0 |
Minna Montgomery Board Member | Officer | 1 | $0 |
Claire Repp Board Member | Officer | 1 | $0 |
Beth Young Board Member | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $74,210 |
| All other contributions, gifts, grants, and similar amounts not included above | $210,952 |
| Noncash contributions included in lines 1a–1f | $50,500 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $285,162 |
| Total Program Service Revenue | $47,178 |
| Investment income | $83 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $467 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $332,890 |
| 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 | $594 |
| Compensation of current officers, directors, key employees. | $45,763 |
| Compensation of current officers, directors, key employees. | $15,255 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $160,587 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $31,315 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,950 |
| Fees for services: Lobbying | $293 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,109 |
| Advertising and promotion | $11,650 |
| Office expenses | $23,830 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,848 |
| Travel | $32 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $688 |
| Interest | $2,172 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,558 |
| Insurance | $3,947 |
| All other expenses | $0 |
| Total functional expenses | $324,808 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $174,744 |
| Savings and temporary cash investments | $10 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,810 |
| 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 | $72,540 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $257,104 |
| Accounts payable and accrued expenses | $11,111 |
| 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 | $11,111 |
| Net assets without donor restrictions | $245,993 |
| 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 | $257,104 |