Hope Housing Foundation
- Assets
- $20.2m
- Revenue
- $2.8m
- Investments
- -$125.7k
- Employees
- 0
- Location
- Mckinney, TX
- Founding
- 11/2000
- Data as of
- 12/2021
- EIN
- 76-0580544
Organization Overview
Hope Housing Foundation is located in Mckinney, TX. The organization was established in 2000. 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 Housing Foundation 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 12/2021, Hope Housing Foundation generated $2.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (8.6%) each year. All expenses for the organization totaled $5.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 5 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PROMOTION AND CREATION OF QUALITY AFFORDABLE HOUSING FOR SENIORS, STUDENTS, AND LOW TO MODERATE INCOME FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONSTRUCT, REHAB AFFORDABLE COMMUNITY HOUSING PROPERTIES FOR LOW AND MODERATE INCOME PERSONS, AND PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME TENANTS.
CONSTRUCT, REHAB AFFORDABLE COMMUNITY HOUSING PROPERTIES FOR LOW AND MODERATE INCOME PERSONS, AND PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derrick Bridgett Director | Trustee | 1.25 | $0 |
Darrel Foster Director | Trustee | 1.25 | $0 |
Susan Richardson Director | Trustee | 1.25 | $0 |
Darren Stover Director | Trustee | 1.25 | $0 |
Pamela Thomas Director | Trustee | 1.25 | $0 |
Alvin Johnson President | Officer | 80 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Insperity Employee Leasing | 12/30/16 | $1,386,447 |
Diversifed Improvement Contractors Building Contractor | 12/30/16 | $794,088 |
Assured Technology General Contractor | 12/30/16 | $548,689 |
R&l Services Hvac Service | 12/30/16 | $289,679 |
Miranda Group General Contractor | 12/30/16 | $244,658 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $914,402 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,074 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $915,476 |
| Total Program Service Revenue | $1,382,106 |
| Investment income | $5 |
| 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 | $2,782,264 |
| 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 | $1,272,233 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $74,886 |
| Payroll taxes | $43,675 |
| Fees for services: Management | $99,011 |
| Fees for services: Legal | $99,535 |
| Fees for services: Accounting | $29,134 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25,146 |
| Office expenses | $167,212 |
| Information technology | $19,377 |
| Royalties | $0 |
| Occupancy | $592,597 |
| Travel | $8,710 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,341 |
| Interest | $972,157 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,383,825 |
| Insurance | $3,614 |
| All other expenses | $109,049 |
| Total functional expenses | $5,222,706 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $23,564 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,657,816 |
| 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 | $155,196 |
| Net Land, buildings, and equipment | $17,459,677 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | -$125,694 |
| Investments—program-related | $0 |
| Intangible assets | $1,100 |
| Other assets | $6,623 |
| Total assets | $20,178,282 |
| Accounts payable and accrued expenses | $625,357 |
| 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 | $30,006,037 |
| Unsecured mortgages and notes payable | $2,052,961 |
| Other liabilities | $2,129,538 |
| Total liabilities | $34,813,893 |
| Net assets without donor restrictions | -$14,635,611 |
| 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 | $20,178,282 |