New Hope Development Services Inc
- Assets
- $10.5m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Jeffersonville, IN
- Founding
- 02/2018
- Data as of
- 06/2021
- EIN
- 82-0818155
Organization Overview
New Hope Development Services Inc is located in Jeffersonville, IN. The organization was established in 2018. 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 06/2021, New Hope Development Services Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hope Development Services 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 06/2021, New Hope Development Services Inc generated $3.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (8.3%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2021. 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
TO FOSTER, PROMOTE, DEVELOP AND PROVIDE HOUSING THAT IS SAFE, DECENT AND AFFORDABLE TO LOW-INCOME AND MODERATE-INCOME INDIVIDUALS AND FAMILIES IN THE REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO FOSTER, PROMOTE, DEVELOP AND PROVIDE HOUSING THAT IS SAFE, DECENT AND AFFORDABLE TO LOW-INCOME AND MODERATE-INCOME INDIVIDUALS AND FAMILIES IN THE REGION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Neace Chair | OfficerTrustee | 2 | $0 |
David Lewis Treasurer | OfficerTrustee | 2 | $0 |
Kimberly Tungate Secretary | OfficerTrustee | 2 | $0 |
James Bosley CEO | Officer | 1 | $0 |
Barbara Swank-Gallegos Board Member | Trustee | 2 | $0 |
Jody Heazlitt Assistant Treasurer | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stephen L Hill Construction Consulting | 6/29/21 | $151,256 |
Mitchell Allen And Ritz Engineering | 6/29/21 | $309,097 |
Studio Three Architects Architecture | 6/29/21 | $281,741 |
Four Star Construction Construction | 6/29/21 | $251,913 |
Gordon Lamar Benner Construction | 6/29/21 | $122,700 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,229,565 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,929 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,256,494 |
| Total Program Service Revenue | $958,253 |
| 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 | $3,214,747 |
| 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. | $187,369 |
| Compensation of current officers, directors, key employees. | $187,369 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $170,373 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $48,934 |
| Payroll taxes | $23,614 |
| Fees for services: Management | $225,000 |
| Fees for services: Legal | $1,659 |
| Fees for services: Accounting | $13,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,450 |
| Advertising and promotion | $192 |
| Office expenses | $13,915 |
| Information technology | $680 |
| Royalties | $0 |
| Occupancy | $60,704 |
| Travel | $49 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $92,093 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $146,812 |
| Insurance | $15,745 |
| All other expenses | $41,366 |
| Total functional expenses | $1,438,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $707,950 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $131,537 |
| Accounts receivable, net | $1,249,318 |
| 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 | $25,498 |
| Net Land, buildings, and equipment | $8,067,176 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $300,642 |
| Total assets | $10,482,121 |
| Accounts payable and accrued expenses | $1,809,996 |
| 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 | $2,290,109 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $918,890 |
| Total liabilities | $5,018,995 |
| Net assets without donor restrictions | $488,450 |
| Net assets with donor restrictions | $4,974,676 |
| 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 | $10,482,121 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Affordable Housing Development Fund Inc Rockford, IL | $87,465,066 | $18,557,415 |
Chicago Low Income Housing Trust Fund Chicago, IL | $68,435,328 | $24,410,244 |
Interfaith Housing Development Corporation Of Chicago Chicago, IL | $13,790,371 | $15,355,980 |
European American Association Chicago, IL | $18,209,689 | $14,984,488 |
Milwaukee Habitat For Humanity Milwaukee, WI | $24,987,795 | $20,382,762 |
Hispanic Housing Development Corp Chicago, IL | $88,735,655 | $15,154,061 |
Residential Options Inc Alton, IL | $11,785,898 | $11,284,358 |
Habitat For Humanity International Inc Indianapolis, IN | $27,221,776 | $14,208,425 |
Oak Park Residence Corp Oak Park, IL | $43,726,959 | $10,429,189 |
Affordable Housing Partners Inc Carmel, IN | $150,650,716 | $9,214,618 |
Housing Partnership Inc Louisville, KY | $43,644,315 | $10,025,390 |