Urban Hope Inc
- Assets
- $5.4m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 7
- Location
- Richmond, VA
- Founding
- 01/2001
- Data as of
- 12/2023
- EIN
- 54-1997025
Organization Overview
Urban Hope Inc is located in Richmond, VA. The organization was established in 2001. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Urban Hope Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Urban Hope Inc 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, Urban Hope Inc generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 46.2% each year . All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 35.4% per year over the past 9 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
THE PRIMARY FOCUS OF URBAN HOPE IS TO PARTNER WITH FAMILIES WHO SEEK AFFORDABLE RENTAL HOUSING AND/OR HOME OWNERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGHLIGHTS OF URBAN HOPES PROGRAM ACCOMPLISHMENTS FOR 2023: BY THE END OF 2023, URBAN HOPE PROVIDED 35 UNITS OF RENTAL HOUSING, WITH 104 TENANTS HOUSED THROUGHOUT THE YEAR AND LIVING IN STABLE, SAFE, AFFORDABLE HOUSING. WITH TREMENDOUS COMMUNITY SUPPORT, URBAN HOPE KEPT 90% OF OUR TENANTS STABLY AND SAFELY HOUSED THROUGHOUT THE LAST YEAR. SEVERAL OF OUR CLIENTS MOVED FROM UNSTABLE CIRCUMSTANCES AND ESCAPED DISPLACEMENT BY TRANSITIONING INTO OUR RENTALS. URBAN HOPE COMPLETED ITS SECOND NEW CONSTRUCTION PROJECT ON A LAND BANK LOT AWARDED BY THE CITY OF RICHMOND, HIRED TWO NEW STAFF MEMBERS, COMPLETED A CAPITAL CAMPAIGN FOR OUR HW RENOVATIONS, AND WERE AWARDED OVER $1M IN COMPETITIVE GRANTS FOR THE PRESERVATION OF 16 OF OUR UNITS. URBAN HOPE MAINTAINED PARTNERSHIP WITH 52 PRIVATE LENDERS, WHICH SUPPORTED THE PURCHASE AND RENOVATION OF PROPERTIES. URBAN HOPE CONTINUED ITS SUCCESSFUL FINANCIAL COHORT PROGRAM, MATCHING THEIR SAVINGS 5:1, AND REDUCING CLIENT DEBT, HELPING SECURE A DRIVERS LICENSE AND A NEW CAR, AND MUCH MORE. WE CONTINUED OFFERING FINANCIAL HEALTH TO THE PUBLIC AS WELL. URBAN HOPE MADE GREAT STRIDES TOWARDS OUR MISSION OF MAKING HOME A CORNERSTONE OF OPPORTUNITY BY KEEPING IT AFFORDABLE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Hale President | Officer | 40 | $117,706 |
Dontrese Brown Board Chair | OfficerTrustee | 1 | $0 |
Shawn Maida Treasurer | OfficerTrustee | 1 | $0 |
Nelson Reveley Secretary | OfficerTrustee | 1 | $0 |
Caitie Rountree Chan Director | Trustee | 1 | $0 |
Tom Mitchell Director | 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 | $1,714,416 |
| Noncash contributions included in lines 1a–1f | $5,544 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,714,416 |
| Total Program Service Revenue | $274,672 |
| Investment income | $113 |
| 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 | $1,989,201 |
| 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. | $117,706 |
| Compensation of current officers, directors, key employees. | $52,968 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $384,326 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $34,707 |
| Fees for services: Management | $6,173 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,016 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,517 |
| Office expenses | $2,008 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,130 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,040 |
| Interest | $63,390 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $76,758 |
| Insurance | $37,036 |
| All other expenses | $0 |
| Total functional expenses | $1,071,241 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,010,900 |
| Savings and temporary cash investments | $21,919 |
| 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 | $4,286,593 |
| Investments—publicly traded securities | $37,051 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,143 |
| Total assets | $5,375,606 |
| Accounts payable and accrued expenses | $19,166 |
| 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 | $602,962 |
| Unsecured mortgages and notes payable | $2,080,826 |
| Other liabilities | $0 |
| Total liabilities | $2,702,954 |
| Net assets without donor restrictions | $2,240,344 |
| Net assets with donor restrictions | $432,308 |
| 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 | $5,375,606 |