Project New Hope
- Assets
- $10.1m
- Revenue
- $4.3m
- Investments
- $100.0k
- Employees
- 50
- Location
- Glendale, CA
- Founding
- 03/1992
- Data as of
- 06/2023
- EIN
- 95-4337245
Organization Overview
Project New Hope is located in Glendale, CA. The organization was established in 1992. According to its NTEE Classification (G81) the organization is classified as: AIDS, under the broad grouping of Voluntary Health Associations & Medical Disciplines and related organizations. As of 06/2023, Project New Hope employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project New Hope 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, Project New Hope generated $4.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $4.5m during the year ending 06/2023. While expenses have increased by 3.3% per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE AFFORDABLE HOUSING & SUPPORT FOR LOW INCOME & HOMELESS PEOPLE WITH HIV/AIDS & SENIORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOW INCOME RENTAL HOUSING: THE ORGANIZATION HAS DEVELOPED AND OPERATES A 22-UNIT, AND A 4-UNIT LOW-INCOME RENTAL HOUSING PROJECT LOCATED IN LOS ANGELES, CALIFORNIA, BOTH OF WHICH ARE DEDICATED TO PERSONS AFFECTED WITH HIV/AIDS AND THEIR FAMILIES. THE ORGANIZATION ALSO MANAGES AND CONTROLS PALOS VERDES STREET, LP WHICH PROVIDES LOW-INCOME RENTAL HOUSING IN LOS ANGELES COUNTY AND INCLUDES A 10-UNIT, LOW-INCOME RENTAL HOUSING PROJECT KNOWN AS SAN PEDRO NEW HOPE COURTYARD APARTMENTS LOCATED IN LOS ANGELES, CALIFORNIA. A REGULATORY AGREEMENT WAS ENTERED INTO WITH THE CITY AND COUNTY OF LOS ANGELES RESTRICTING THE USE OF THE PROPERTIES AS LOW-INCOME HOUSING.
AFFORDABLE HOUSING MANAGEMENT - EXPENSES INCLUDE COSTS THAT PRIMARILY RELATE TO MANAGEMENT OF PROPERTIES.
GROUP HOMES: THIS PROGRAM PROVIDES BOARD AND CARE SERVICES FOR PERSONS WITH HIV/AIDS WHO ARE UNABLE TO LIVE INDEPENDENTLY, AS WELL AS TRANSITIONAL HOUSING FOR PERSONS NEEDING TO DEVELOP THEIR LIVING SKILLS BEFORE MOVING TO INDEPENDENT HOUSING. THE PROGRAM HAS THE ABILITY TO OFFER HOSPICE SERVICES FOR CLIENTS WHO BECOME TERMINALLY ILL. NO ONE IS TURNED AWAY DUE TO LACK OF FUNDS OR INSURANCE.
RESIDENT SERVICES: THIS PROGRAM PROVIDES SUPPORTIVE SERVICES IN PERMANENT HOUSING FACILITIES THAT PROMOTE LONG-TERM RESIDENTIAL STABILITY, PERSONAL AND LIFE SKILLS DEVELOPMENT, AND OPPORTUNITIES FOR PERSONS LIVING WITH HIV/AIDS. IT INCLUDES THE FINANCIAL AWARENESS/MONEY MANAGEMENT PROGRAM, AND SITE-BASED EMPLOYMENT PREPARATION AND DEVELOPMENT PROGRAMS. NO ONE IS TURNED AWAY DUE TO LACK OF FUNDS OR INSURANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Nahas President | OfficerTrustee | 3 | $0 |
Tom Spratt Treasurer | OfficerTrustee | 1 | $0 |
Margaret Willis Secretary | Trustee | 1 | $0 |
Brigitte Tweddell Executive Director | Officer | 40 | $133,434 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,414,410 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,103 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,430,513 |
| Total Program Service Revenue | $818,872 |
| Investment income | $81,315 |
| 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 | $4,339,619 |
| 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. | $133,434 |
| Compensation of current officers, directors, key employees. | $3,977 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,936,109 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $333,582 |
| Payroll taxes | $165,760 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,715 |
| Fees for services: Accounting | $64,012 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $110,085 |
| Advertising and promotion | $0 |
| Office expenses | $51,431 |
| Information technology | $74,269 |
| Royalties | $0 |
| Occupancy | $230,755 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $146,607 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $131,321 |
| Insurance | $38,381 |
| All other expenses | $154,625 |
| Total functional expenses | $4,502,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,290,677 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $585,520 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $153,646 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $166,317 |
| Net Land, buildings, and equipment | $2,989,957 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $100,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,858,850 |
| Total assets | $10,144,967 |
| Accounts payable and accrued expenses | $172,524 |
| 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 | $5,902,839 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,482,918 |
| Total liabilities | $9,558,281 |
| Net assets without donor restrictions | $586,686 |
| 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 | $10,144,967 |