New Hope Research Foundation Inc
- Assets
- $1.7m
- Revenue
- $736.0k
- Investments
- $1.1m
- Employees
- 0
- Location
- North Oaks, MN
- Founding
- 08/2007
- Data as of
- 06/2023
- EIN
- 87-0790903
Organization Overview
New Hope Research Foundation Inc is located in North Oaks, MN. The organization was established in 2007. According to its NTEE Classification (F20) the organization is classified as: Substance Abuse Dependency, Prevention & Treatment, under the broad grouping of Mental Health & Crisis Intervention and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hope Research Foundation 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 06/2023, New Hope Research Foundation Inc generated $736.0k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $587.8k during the year ending 06/2023. While expenses have increased by 2.3% per year over the past 3 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
DIRECTED MEDICAL RESEARCH - CONDUCTED MEDICAL AND SCIENTIFIC RESEARCH AND DEVELOPMENT ON GENE VECTORS AND METHODS OF GENE DELIVERY FOR GM2 GANGLIOSIDOSIS. THE FOCUS IN THE PAST YEAR HAS BEEN IN PREPARING CONDUCTING AND ANALYZING IND-ENABLING STUDIES AND VECTOR MANUFACTURING PROCESS DEVELOPMENT.
VECTOR CREATION AND NEW TECHNOLOGY DEVELOPMENT - THE FOUNDATION IS DEVELOPING NOVEL TECHNOLOGIES RELATED TO DELIVERY OF GENES TO THE CENTRAL NERVOUS SYSTEM FOR THE TREATMENT OF LYSOSOMAL STORAGE DISEASES. THE FOUNDATION HAS WORLDWIDE RIGHTS TO KEY INTELLECTUAL PROPERTY AND HAS SUBMITTED ADDITIONAL PATENT APPLICATIONS.
EDUCATION AND COMMUNICATION FOR PATIENTS AND FAMILIES - THE FOUNDATION HAS MAINTAINED A WEBSITE ON LYSOSOMAL STORAGE DISEASES AND UNDERLYING MECHANISMS. THE SITE EXPLAINS THE RESEARCH BEING CONDUCTED BY THE FOUNDATION. THE FOUNDATION ALSO SUPPORTS THE PRESENTATION OF RESEARCH AT MEDICAL CONFERENCES.
MEDICAL RESEARCH AND DEVELOPMENT PROJECT MANAGEMENT - THE FOUNDATION HAS DEVELOPED A MASTER PLAN FOR MEDICAL RESEARCH ON GENE THERAPIES FOR LYSOSOMAL STORAGE DISEASES CONDUCTED REVIEWS OF PROPOSED RESEARCH COORDINATED RESEARCH BEING CONDUCTED AT RESEARCH INSTITUTES AND PARTICIPATED IN RESULT REVIEWS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John G Keimel Chair President | 40 | $0 | |
Ellen L Kraft Vice Chair | 1 | $0 | |
Raymond S Schreyer Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $680,404 |
| Interest on Savings | $4,629 |
| Dividends & Interest | $20,658 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $30,352 |
| Capital Gain Net Income | $170,800 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $736,043 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $188 |
| Depreciation | $0 |
| Occupancy | $14,568 |
| Travel, conferences, and meetings | $3,184 |
| Printing and publications | $0 |
| Other expenses | $271,477 |
| Total operating and administrative expenses | $505,215 |
| Contributions, gifts, grants paid | $82,576 |
| Total expenses and disbursements | $587,791 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $517,043 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $85,710 |
| Total assets | $1,746,972 |
| Accounts payable and accrued expenses | $52 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $52 |
Grants Awarded
Over the last fiscal year, New Hope Research Foundation Inc has awarded $65,030 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNIV OF NORTH CAROLINA CHAPEL HILL PURPOSE: GENE THERAPY MEDICAL RESEARCH | $24,349 |
QUEEN'S UNIVERSITY AT KINGSTON PURPOSE: GENE THERAPY MEDICAL RESEARCH | $40,681 |