Hope Renewed Realty Corporation
- Assets
- $795.3k
- Revenue
- $43.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 07/2004
- Data as of
- 12/2021
- EIN
- 56-2393715
Organization Overview
Hope Renewed Realty Corporation is located in Providence, RI. The organization was established in 2004. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Renewed Realty Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PURCHASE, REHABILITATE AND LEASE PROPERTY TO LOW TO MODERATE INCOME APPLICANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COSTS ASSOCIATED WITH THE PURCHASE, REHABILITATION, LEASING, AND SALE OF PROPERTY TO LOW TO MODERATE INCOME APPLICANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colleen Ramos Treasurer | OfficerTrustee | 1 | $0 |
Sean Fontes President | OfficerTrustee | 1 | $0 |
Dariel Blanco Secretary | OfficerTrustee | 1 | $0 |
Angie Ankoma Director | Trustee | 1 | $0 |
Andrea Ray Director | Trustee | 1 | $0 |
Brandford Davis 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 | $3,444 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,444 |
| Total Program Service Revenue | $50,815 |
| Investment income | $15 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$10,540 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,734 |
| 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 | $1,003 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,319 |
| Payroll taxes | $314 |
| Fees for services: Management | $3,000 |
| Fees for services: Legal | $467 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $374 |
| Office expenses | $2,041 |
| Information technology | $2,004 |
| 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 | $144 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,417 |
| Insurance | $3,286 |
| All other expenses | $576 |
| Total functional expenses | $72,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,205 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $579 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $140,881 |
| Prepaid expenses and deferred charges | $998 |
| Net Land, buildings, and equipment | $565,647 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $795,310 |
| Accounts payable and accrued expenses | $8,747 |
| Grants payable | $0 |
| Deferred revenue | $650 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $7,824 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $227,984 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,039,002 |
| Total liabilities | $1,284,207 |
| Net assets without donor restrictions | -$488,897 |
| 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 | $795,310 |
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