Love Builds Hope Foundation
- Assets
- $289.5k
- Revenue
- $532.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Brownsville, TX
- Founding
- Data as of
- 06/2022
- EIN
- 84-3869087
Organization Overview
Love Builds Hope Foundation is located in Brownsville, TX. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Love Builds Hope 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 06/2022, Love Builds Hope Foundation generated $532.5k in total revenue. The organization has seen a slow decline revenue. Over the past 3 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $488.2k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (9.5%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Love Builds Hope Foundation has awarded 47 individual grants totaling $1,123,436. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE LOVE BUILDS HOPE FOUNDATION IS TO FINANCIALLY SUPPORT THE SPIRITUAL, EDUCATIONAL, AND SOCIAL NEEDS OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INITIAL WORK OF THE FOUNDATION INVOLVED STRATEGIC PLANNING AND PREPARATION FOR A COMPREHENSIVE DIOCESAN CAMPAIGN WITH A GOAL TO RAISE $24 MILLION TO SUSTAIN AND PROMOTE CATHOLIC PARISHES, MISSION, SCHOOLS, MINISTRIES, AND AGENCIES. A CAMPAIGN TEAM WAS DEVELOPED AND TRAINED TO ANIMATE THE CAMPAIGN. THIS REPRESENTED NEW HIRES FOR THE LOVE BUILDS HOPE FOUNDATION AND CONTRACTUALLY ENGAGING STAFF FROM GREATER MISSION LED BY THEIR PRESIDENT, THOMAS SONNI. DIGITAL AND PRINT CAMPAIGN MATERIALS WERE DESIGNED AND PRODUCED FOR THE CAMPAIGN. THE CAMPAIGN IS POSITIONED TO HAVE A TRANSFORMATIONAL IMPACT ON THE LIFE OF THE CHURCH AT THE PARISH, SCHOOL, AND DIOCESAN LEVELS, EXPANDING AND ENHANCING HOW ONE OF THE POOREST REGIONS IN THE NATION IS MINISTERED AND SERVED. THE INVESTMENT IN THIS EFFORT WAS MADE BY THE DIOCESE OF BROWNSVILLE THROUGH THE CATHOLIC FOUNDATION OF THE RIO GRANDE VALLEY. GIVEN THE COVID-19 PANDEMIC, CHURCHES WERE SHUT DOWN AND THE CAMPAIGNS DESIGNED TO TAKE PLACE IN EVERY PARISH OVER A SERIES OF THREE TO FOUR WAVES WAS SUSPENDED. THE LOVE BUILDS HOPE FOUNDATION PIVOTED TO FOCUS ON RAISING LEAD GIFTS FOR THE NEW PRIORITY OF HELPING ITS PARISHES AND SCHOOLS TO RECOVER FROM A DRAMATIC LOSS IN THEIR INCOME, AS WELL AS MEET THE NEEDS OF PEOPLE IN THE "COLONIASCOMMUNITIES WHERE THEY SERVE. THE RGV CRISIS RESPONSE FUND WAS ESTABLISHED AND MORE THAN $1.3 MILLION HAS ALREADY BEEN PLEDGED TOWARD IT, DESPITE THE SEVERE ECONOMIC DOWNTURN IN THE RIO GRANDE VALLEY AND THE REQUIREMENT TO CONDUCT MOST SOLICITATIONS THROUGH ONLINE GROUP EVENTS VIA ZOOM. THAT SUCCESS HAS ALSO HELPED POSITION THE DIOCESE OF BROWNSVILLE FOR SUCCESS IN ITS PARISH LEAD GIFTS AND FULL CAMPAIGN EFFORTS ONCE THEY CAN BE RESUMED.
DUE TO THE COVID-19 PANDEMIC, THE LOVE BUILDS HOPE FOUNDATION HAS SHIFTED ITS FOCUS FROM AN OVERARCHING CAPITAL CAMPAIGN TO A TARGETED CRISIS RESPONSE FUND, ADDRESSING THE MOST URGENT NEEDS OF OUR PARISHES, SCHOOLS AND DIOCESAN AGENCIES AFFECTED BY THE PANDEMIC. THE CRISIS RESPONSE FUND IS ACTIVELY WORKING TO PROVIDE ASSISTANCE AND RELIEF TO 6 PARISHES WITHIN THE CATHOLIC DIOCESE OF BROWNSVILLE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hon Israel Ramon Jr Chairperson | OfficerTrustee | 1 | $0 |
Michael Williamson Member | Trustee | 1 | $0 |
Lorena Castillo-Saldana Member | Trustee | 1 | $0 |
Dcn Rosvel Pruneda Member | Trustee | 1 | $0 |
Maria Elena Beltran Member | Trustee | 1 | $0 |
Alonzo Beltran Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $80,898 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $445,871 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $526,769 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $532,501 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $357,245 |
| 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 | $45,310 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,698 |
| Payroll taxes | $3,425 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,890 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $553 |
| Travel | $65 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,740 |
| Insurance | $0 |
| All other expenses | $1,386 |
| Total functional expenses | $488,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $201,997 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $80,550 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $289,547 |
| Accounts payable and accrued expenses | $4,974 |
| 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 | $314,089 |
| Other liabilities | $0 |
| Total liabilities | $319,063 |
| Net assets without donor restrictions | -$29,516 |
| 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 | $289,547 |
Grants Awarded
Over the last fiscal year, Love Builds Hope Foundation has awarded $357,245 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
MOTHER CABRINI CHURCH (PHARR) PURPOSE: HELP PARISHED PAY FOT STORM DAMAGE TO RELIGIOUS EDUCATION BUILDING. | $52,545 |
ST ANNE CHURCH (PHARR) PURPOSE: TO HELP PARISHES PAY FOR A NEW METAL ROOF FOR CHURCH. | $30,000 |
ST THERESA CHURCH (EDCOUCH) PURPOSE: TO HELP PARISHES REPAOR THE CHURCH BELL TOWER. | $20,000 |
HOLY FAMILY CHURCH (LA GRULLA) PURPOSE: HELP PARISHES PAY FOR THE SMOLDETING WIRES IN THE CEILING THAT COUSED HEAVY DAMAGE TO THE PARISH OFFICE. | $27,500 |
ST MONICA CATHOLIC CHURCH PURPOSE: ERG-MARCH 2022 | $11,200 |
PLAZA AMISTAD PURPOSE: TO SUPPORT THE DIFFERENT PROGRAMS OFFERED IN PLAZA AMISTAD. | $206,000 |