New Hope Educational Institute Inc
- Assets
- $2.0m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 51
- Location
- Landover Hills, MD
- Founding
- 07/1990
- Data as of
- 06/2021
- EIN
- 52-1590136
Organization Overview
New Hope Educational Institute Inc, operating under the name New Hope Academy, is located in Landover Hills, MD. The organization was established in 1990. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. As of 06/2021, New Hope Academy employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hope Academy 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 06/2021, New Hope Academy generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.7m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
INDEPENDENT SCHOOL GRADES PRE-K3 - 12TH WITH EDUCATIONAL OUTREACH PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELEMENTARY & SECONDARY EDUCATION, GENERAL/OTHER SCHOOL OFFERING STUDENTS PRE-K3 THROUGH 12TH GRADE A FULL STATE-ACCREDITED CURRICULUM, INCLUDING MUSIC, ART, AND FOREIGN LANGUAGE, WITH AN EMPHASIS ON CHARACTER DEVELOPMENT AS WELL AS BEFORE & AFTER SCHOOL PROGRAMS AND A SUMMER PROGRAM (163 STUDENTS).
PARTNERSHIPS IN EDUCATION PROGRAMS GAMBIA PROJECT - PROVIDING SCHOLARSHIPS TO HIGH SCHOOL STUDENTS, ELEMENTARY STUDENTS, AND UNIVERSITY STUDENTS ALNG WITH EDUCATIONAL PROGRAMS IN THE GAMBIA SUPPORTING SERVICES TRAVEL TO GAMBIA ALONG WITH THE COST OF SERVICE PROJECT AND SUPPLIES AND MEDICAL EQUIPMENT.
EXTRACURRICULAR PROGRAMS INCLUDING AFTER SCHOOL DANCE AND SPORTS WHICH EMPHASIZE PHYSICAL FITNESS AND TEAM-BUILDING SKILLS. STUDENTS DEVELOP SKILLS AND PARTICIPATE IN GAMES WITH STUDENTS FROM OTHER SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Joy Morrow President/pr | OfficerTrustee | 40 | $66,799 |
Karen Wilkening Board Member | Trustee | 40 | $41,325 |
Beverly Berndt Board Member | Trustee | 40 | $40,250 |
Kim Dadachanji Board Member | Trustee | 40 | $39,075 |
Aisha Faison Board Member | Trustee | 40 | $37,712 |
Theodore Agres Secretary | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $335,893 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $335,893 |
| Total Program Service Revenue | $1,448,170 |
| Investment income | $136 |
| 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 | $1,784,199 |
| 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 | $1,043,133 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $61,356 |
| Payroll taxes | $92,475 |
| Fees for services: Management | $425 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,146 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $79,789 |
| Advertising and promotion | $11,471 |
| Office expenses | $30,538 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $315,697 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $28,934 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $28,194 |
| All other expenses | $0 |
| Total functional expenses | $1,695,158 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $583,108 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,645 |
| 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 | $1,409,067 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,008,820 |
| Accounts payable and accrued expenses | $64,763 |
| 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 | $575,981 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $261,499 |
| Total liabilities | $902,243 |
| Net assets without donor restrictions | $0 |
| 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 | $1,106,577 |
| Total liabilities and net assets/fund balances | $2,008,820 |
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|---|---|---|
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University Of Maryland Obstetrical And Gynecological Associates P A Baltimore, MD | $13,649,114 | $19,437,289 |
St Coletta Special Education Charter School Washington, DC | $5,593,916 | $18,247,797 |
Unidel Foundation Inc Greenville, DE | $452,249,782 | $36,851,681 |
Educational Foundation Of America Bethesda, MD | $294,733,951 | $32,812,396 |
Old Dominion University Educational Foundation Norfolk, VA | $390,141,589 | $33,517,872 |
Marshall University Foundation Incorporated Huntington, WV | $365,151,220 | $39,444,191 |
Virginia Commonwealth University Foundation Richmond, VA | $117,210,353 | $9,637,107 |
University Of Virginia Healt Foundation Charlottesville, VA | $89,840,390 | $9,560,297 |
St Catherines School Foundation Richmond, VA | $65,797,019 | $8,901,214 |
Eastern Virginia Medical School Foundation Norfolk, VA | $165,919,612 | $19,028,464 |
Employee Benefit Trust Of Northampton Co Area Community Coll Bethlehem, PA | $1,194,772 | $10,407,527 |