House Of Hope Housing Inc
- Assets
- $8.4m
- Revenue
- $947.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Lowell, MA
- Founding
- 10/2005
- Data as of
- 06/2022
- EIN
- 58-2669733
Organization Overview
House Of Hope Housing Inc is located in Lowell, MA. The organization was established in 2005. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, 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. House Of Hope Housing 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 06/2022, House Of Hope Housing Inc generated $947.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 15.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE IMPROVED SOCIAL AND ECONOMIC CONDITIONS OF FAMILIES WHO ARE OR WHO HAVE RECENTLY BEEN HOMELESS; TO PROMOTE, DEVELOP, AND MANAGE AFFORDABLE HOUSING FOR FAMILIES AND TO ASSIST IN CARRYING OUT THE CHARITABLE PURPOSE OF HOUSE OF HOPE, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NEW HOPE APARTMENTS, THE LAKEVIEW APARTMENTS, THE PAWTUCKET APARTMENTS, AND THE SMITH APARTMENTS TOGETHER PROVIDE THIRTY-EIGHT UNITS OF SUBSIDIZED HOUSING. IN ORDER TO MEET ELIGIBILITY REQUIREMENTS, APPLICANTS MUST BE HOMELESS, EXTREMELY LOW INCOME, AND HAVE A NEED TO RECEIVE SUPPORTIVE FAMILY SERVICES.
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 |
|---|---|---|---|
Brian Stafford Treasurer | OfficerTrustee | 3 | $0 |
Dan O'connor President | OfficerTrustee | 3 | $0 |
Rachel Garneau Secretary | OfficerTrustee | 3 | $0 |
Ryan Dunn Director | Trustee | 1 | $0 |
Patricia Sullivan Talty Director - Emeritus | Trustee | 1 | $0 |
Deborah Chausse Executive Director | Trustee | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $36,772 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $58,864 |
| Noncash contributions included in lines 1a–1f | $14,422 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $95,636 |
| Total Program Service Revenue | $852,212 |
| Investment income | $0 |
| 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 | $947,848 |
| 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. | $158,543 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $253,229 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $73,375 |
| Payroll taxes | $0 |
| Fees for services: Management | $44,703 |
| Fees for services: Legal | $5,157 |
| Fees for services: Accounting | $10,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $146,022 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $81,183 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $239,703 |
| Insurance | $27,084 |
| All other expenses | $0 |
| Total functional expenses | $1,116,603 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $406,056 |
| Savings and temporary cash investments | $1,035 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $149,674 |
| 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 | $30,455 |
| Net Land, buildings, and equipment | $7,647,534 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $21,555 |
| Other assets | $179,844 |
| Total assets | $8,436,153 |
| Accounts payable and accrued expenses | $521,109 |
| Grants payable | $0 |
| Deferred revenue | $307,500 |
| 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 | $8,284,737 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $58,132 |
| Total liabilities | $9,171,478 |
| Net assets without donor restrictions | -$735,325 |
| 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 | $8,436,153 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Home Headquarters Inc Syracuse, NY | $61,706,462 | $11,933,384 |
Depaul Properties Inc Rochester, NY | $60,046,501 | $8,018,697 |
Center Communities Of Brookline Inc Boston, MA | $21,612,727 | $5,843,127 |
Hrca Brookline Housing 1550 Beacon Plaza Boston, MA | $18,498,571 | $4,652,823 |
North Shore Community Development Coalition Inc Salem, MA | $17,290,346 | $6,893,056 |
Troy Rehabilitation And Improvement Program Inc Troy, NY | $4,527,116 | $4,140,655 |
Opportunity Headquarters Inc Syracuse, NY | $931,819 | $3,257,864 |
Rebuilding Together-Saratoga County Ballston Spa, NY | $1,364,946 | $2,773,949 |
Mutual Housing Association Of Southwestern Connecticut Inc Trumbull, CT | $16,772,020 | $2,661,661 |
Neighborhood Housing Services Of Rochester Inc Rochester, NY | $8,905,786 | $3,020,780 |
Albany County Land Bank Corporation Albany, NY | $10,389,467 | $1,512,121 |
Fenway Community Development Corp Boston, MA | $34,067,808 | $3,370,772 |