Housing For New Hope Inc
- Assets
- $12.2m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 36
- Location
- Durham, NC
- Founding
- 02/1994
- Data as of
- 08/2023
- EIN
- 58-2089068
Organization Overview
Housing For New Hope Inc is located in Durham, NC. The organization was established in 1994. 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 08/2023, Housing For New Hope Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing For New 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 08/2023, Housing For New Hope Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $3.0m during the year ending 08/2023. While expenses have increased by 4.0% per year over the past 7 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
ENDING HOMELESSNESS IN DURHAM, NORTH CAROLINA
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTIVE HOUSING - SINCE 1992, HOUSING FOR NEW HOPE'S SUPPORTIVE HOUSING PROGRAMS HAVE CONNECTED DURHAM'S MOST VULNERABLE NEIGHBORS WITH HOUSING AND THE SUPPORTIVE SERVICES THEY NEED TO REMAIN STABLY HOUSED.HOUSING OPPORTUNITIES AND SERVICES ARE DESIGNED TO SUPPORT THE SPECIFIC NEEDS OF INDIVIDUALS CLIENTS. HNH OFFERS SHORT-TERM (24 MONTHS OR LESS) COMMUNITY-BASED OPTIONS FOR THOSE WITH FEWER BARRIERS TO HOUSING STABILITY. THIS PROGRAM, TRADITIONALLY KNOWN AS "RAPID REHOUSING," SERVES MORE THAN 200 PEOPLE ANNUALLY. FOR THOSE EXPERIENCING LONG-TERM HOMELESSNESS AND STRUGGLING WITH A DISABLING CONDITION, HNH OFFERS LONG-TERM PROGRAMS INCLUDING A CAMPUS- BASED OPTION AT WILLIAMS SQUARE AND ANDOVER APARTMENTS, ALONG WITH COMMUNITY-BASED OPTIONS IN PARTNERSHIP WITH OVER 30 PRIVATE LANDLORDS.
AFFORDABLE HOUSING - FOR OVER 25 YEARS, HNH HAS EXPANDED AFFORDABLE HOUSING OPTIONS IN OUR COMMUNITY BY DEVELOPING AND PRESERVING RESIDENTIAL COMMUNITIES FOR INDIVIDUALS AND FAMILIES EARNING LESS THAN 50% OF THE AREA'S MEDIAN INCOME.FAMILIES AND INDIVIDUALS BENEFIT FROM STABLE AND AFFORDABLE HOUSING AT COLE MILL PLACE, A PROPERTY OFFERING 2 & 3-BEDROOM APARTMENTS, AND HOLLOWAY PLACE, A SEVEN-UNIT CO-HOUSING OPTION FOR SINGLE WOMEN. THE RECENTLY ACQUIRED CARVER CREEK APARTMENTS IS CURRENTLY OPERATING AS AFFORDABLE HOUSING BUT WILL TRANSITION TO SUPPORTIVE HOUSING IN COMING YEARS.
STREET OUTREACH - HOUSING FOR NEW HOPE'S STREET OUTREACH TEAM LEADS DURHAM'S EFFORTS TO CONNECT WITH THE UNSHELTERED POPULATION IN RESPONSE TO REFERRALS FROM BUSINESSES, GOVERNMENT PARTNERS, COMMUNITY MEMBERS, AND OTHER HOUSING ASSISTANCE AGENCIES. HNH TAKES THE FIRST STEP IN CONNECTING WITH OUR MOST VULNERABLE NEIGHBORS WITH THE GOAL OF CONNECTING INDIVIDUALS AND FAMILIES TO HOUSING AND SUPPORTIVE SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erica Maddox Board Chair | OfficerTrustee | 2 | $0 |
Thomas Williams Vice Chair | OfficerTrustee | 0.5 | $0 |
Rev Chris Breslin Secretary | OfficerTrustee | 1 | $0 |
Rev Bob Kaynor Treasurer | OfficerTrustee | 1 | $0 |
Dawn Bland Director | Trustee | 0.5 | $0 |
Lizzy Hazeltine Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,730,904 |
| All other contributions, gifts, grants, and similar amounts not included above | $986,846 |
| Noncash contributions included in lines 1a–1f | $2,521 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,717,750 |
| Total Program Service Revenue | $300,336 |
| Investment income | $7,822 |
| 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 | $3,025,908 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $613,261 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $145,828 |
| Compensation of current officers, directors, key employees. | $86,636 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,056,878 |
| Pension plan accruals and contributions | $47,466 |
| Other employee benefits | $100,038 |
| Payroll taxes | $90,631 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,623 |
| Fees for services: Other | $35,209 |
| Advertising and promotion | $0 |
| Office expenses | $118,566 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $110,738 |
| Travel | $27,672 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $37,113 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $168,556 |
| Insurance | $50,709 |
| All other expenses | $29,131 |
| Total functional expenses | $3,028,127 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $500,522 |
| Savings and temporary cash investments | $622,837 |
| Pledges and grants receivable | $658,053 |
| Accounts receivable, net | $23,291 |
| 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 | $69,157 |
| Net Land, buildings, and equipment | $10,104,513 |
| Investments—publicly traded securities | $168,542 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,273 |
| Total assets | $12,190,188 |
| Accounts payable and accrued expenses | $27,689 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $10,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,751,612 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,129,934 |
| Total liabilities | $7,919,235 |
| Net assets without donor restrictions | $3,638,385 |
| Net assets with donor restrictions | $632,568 |
| 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 | $12,190,188 |