Hope For Life
- Assets
- $354.3k
- Revenue
- $562.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Seattle, WA
- Founding
- 11/2017
- Data as of
- 12/2022
- EIN
- 61-1806775
Organization Overview
Hope For Life is located in Seattle, WA. The organization was established in 2017. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. As of 12/2022, Hope For Life employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope For Life 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 12/2022, Hope For Life generated $562.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 20.0% each year . All expenses for the organization totaled $480.8k during the year ending 12/2022. While expenses have increased by 25.8% per year over the past 6 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
HOPE FOR LIFE SERVES IMPOVERISHED YOUTH THROUGH HOLISTIC CARE, PROVIDING STABILITY IN THEIR LIVES AND EMPOWERING THEM WITH RESOURCES AND EDUCATION NEEDED TO OBTAIN A FLOURISHING FUTURE FOR THEMSELVES AND THEIR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOPE FOR LIFE RAISES FUNDING TO SUPPORT PROGRAMS IN RWANDA THAT EMPOWER YOUTH AND FAMILIES EXPERIENCING EXTREME POVERTY AND/OR HOMELESSNESS WITH THE RESOURCES AND INTERVENTIONS NEEDED TO OBTAIN A FLOURISHING FUTURE FOR THEMSELVES AND THEIR COMMUNITY. IN ADDITION, HOPE FOR LIFE EDUCATES THE GENERAL PUBLIC ABOUT THE PLIGHT OF CHILDREN AND FAMILIES EXPERIENCING EXTREME POVERTY IN RWANDA. WE RAISE AWARENESS ABOUT THE ADVERSE IMPACTS ON CHILDREN AND FAMILIES, THE PATHWAYS OUT OF THE CYCLE OF POVERTY, AND HOW ONE CAN PARTNER WITH CHILDREN AND FAMILIES IN HEALTHY, EMPOWERING, AND CULTURALLY APPROPRIATE WAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Chao Executive Director | Officer | 25.05 | $47,497 |
Allison Shook Interim Executive Director | Officer | 8.22 | $14,342 |
Emily Kuhn Chair | OfficerTrustee | 5 | $0 |
Marissa Ukosakul-Witt Secretary | OfficerTrustee | 1 | $0 |
Timothy Sneath Treasurer | OfficerTrustee | 1 | $0 |
Philip Keeton Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $96,446 |
| Related organizations | $0 |
| Government grants | $33,427 |
| All other contributions, gifts, grants, and similar amounts not included above | $436,393 |
| Noncash contributions included in lines 1a–1f | $21,342 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $566,266 |
| Total Program Service Revenue | $0 |
| 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 | -$2,932 |
| Net Income from Gaming Activities | -$800 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $562,534 |
| 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 | $308,179 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $66,342 |
| Compensation of current officers, directors, key employees. | $19,181 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,461 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,923 |
| Payroll taxes | $10,353 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $397 |
| Fees for services: Accounting | $8,031 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $471 |
| Advertising and promotion | $750 |
| Office expenses | $9,286 |
| Information technology | $5,775 |
| Royalties | $0 |
| Occupancy | $5,420 |
| Travel | $1,109 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $175 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,143 |
| All other expenses | $0 |
| Total functional expenses | $480,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,460 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,628 |
| 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 | $55,635 |
| Net Land, buildings, and equipment | $157,560 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $354,283 |
| Accounts payable and accrued expenses | $10,894 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,894 |
| Net assets without donor restrictions | $175,195 |
| Net assets with donor restrictions | $168,194 |
| 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 | $354,283 |