Civic Intelligence

Furnishing Hope Inc.

990 • Fiscal year 2018 • EIN 20-0049351

Jan 01, 2018 to Dec 31, 2018 • Filed on Jan 15, 2020

3857 Birch St Ste 503Newport Beach, CA 92660

(949) 376-8014

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

76th percentile

18%

Higher net margin than 76% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

42nd percentile

$42,000

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 2.4% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

94th percentile

71%

Faster asset growth than 94% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

86th percentile

45%

Faster revenue growth than 86% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$717,252

Up $297,606 (+71%) from 2017

Net Assets

Up

$717,252

Up $308,691 (+76%) from 2017

Liabilities

Down

$0

Down $11,085 (-100%) from 2017

Revenue

Up

$1,737,272

Up $539,428 (+45%) from 2017

Expenses

Up

$1,428,581

Up $286,916 (+25%) from 2017

Net Income

Up

$308,691

Up $252,512 (+449%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $101,803Liabilities 2011: -$1,322Net Assets 2011: $103,1252011Assets 2012: $83,502Liabilities 2012: -$1,156Net Assets 2012: $84,6582012Assets 2013: $59,303Liabilities 2013: -$1,156Net Assets 2013: $60,4592013Assets 2014: $260,989Liabilities 2014: $1,200Net Assets 2014: $259,7892014Assets 2015: $434,048Liabilities 2015: -$1,080Net Assets 2015: $435,1282015Assets 2016: $351,182Liabilities 2016: -$1,200Net Assets 2016: $352,3822016Assets 2017: $419,646Liabilities 2017: $11,085Net Assets 2017: $408,5612017Assets 2018: $717,252Liabilities 2018: $0Net Assets 2018: $717,2522018Assets 2019: $683,137Liabilities 2019: $0Net Assets 2019: $683,1372019Assets 2020: $907,749Liabilities 2020: $0Net Assets 2020: $907,7492020Assets 2021: $3,342,181Liabilities 2021: $35,378Net Assets 2021: $3,306,8032021Assets 2022: $3,342,714Liabilities 2022: $37,235Net Assets 2022: $3,305,4792022Assets 2023: $3,332,626Liabilities 2023: $216,512Net Assets 2023: $3,116,1142023Assets 2024: $2,999,442Liabilities 2024: $117,000Net Assets 2024: $2,882,4422024

Highlighted filing

2018

Assets$717,252
Liabilities$0
Net Assets$717,252

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $243,3002011Expenses 2012: $315,6602012Revenue 2013: $246,944Expenses 2013: $271,142Net Income 2013: -$24,1982013Revenue 2014: $686,098Expenses 2014: $484,368Net Income 2014: $201,7302014Revenue 2015: $573,986Expenses 2015: $401,047Net Income 2015: $172,9392015Revenue 2016: $469,410Expenses 2016: $552,156Net Income 2016: -$82,7462016Revenue 2017: $1,197,844Expenses 2017: $1,141,665Net Income 2017: $56,1792017Revenue 2018: $1,737,272Expenses 2018: $1,428,581Net Income 2018: $308,6912018Revenue 2019: $1,254,971Expenses 2019: $1,289,086Net Income 2019: -$34,1152019Revenue 2020: $988,402Expenses 2020: $763,790Net Income 2020: $224,6122020Revenue 2021: $3,702,476Expenses 2021: $1,303,422Net Income 2021: $2,399,0542021Revenue 2022: $870,334Expenses 2022: $871,658Net Income 2022: -$1,3242022Revenue 2023: $702,915Expenses 2023: $892,280Net Income 2023: -$189,3652023Revenue 2024: $1,440,633Expenses 2024: $1,683,007Net Income 2024: -$242,3742024

Highlighted filing

2018

Revenue$1,737,272
Expenses$1,428,581
Net Income$308,691
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jan 15, 2020
Return Version
2018v3.2
Gross Receipts
$1,737,272
Mission and Program Overview

Mission

Furnishing homes for families in crisis, in coordination with military service members,veterans and various other organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$274,074$615,615▲ $341,541
Cash and Non-Interest-Bearing Accounts$83,279$45,944▼ $37,335
Land, Buildings, and Equipment, Net$49,958$43,358▼ $6,600
Total Assets$419,646$717,252▲ $297,606
Other Assets Total$12,335$12,335→ $0
Liabilities
Accounts Payable and Accrued Expenses$11,085--
Total Liabilities$11,085$0▼ $11,085
Net Assets / Fund Balance
Unrestricted Net Assets$408,561$717,252▲ $308,691
Total Net Assets Fund Balance$408,561$717,252▲ $308,691
Total Liabilities and Net Assets / Fund Balance$419,646$717,252▲ $297,606

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$43,358$9,836$53,194
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Elizabeth PhillipsPresident/diFT$42,000$42,000

Board Members and Trustees

NameTitle
Allen BoernerDirector
Charles BradleyDirector
Linda TuggleDirector
Renee Pepys LoweDirector
John VirtueDirector/CFO
Revenue and Support

Revenue Composition

Contributions and Grants
$1,075,964
Program Service Revenue
$661,308
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,075,964
Change in Net Assets
$308,691

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table2$244,469
Total Noncash Contributions2$244,469
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,015,430
Salaries, Compensation, and Employee Benefits$413,151
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$338,565--$338,565
Occupancy$235,685--$235,685
All Other Expenses$69,604$3,336-$72,940
Current Officers, Directors, Trustees, and Key Employees$21,000$21,000-$42,000
Payroll Taxes$32,586--$32,586
Other Expenses$22,110$17,069-$22,110
Office Expenses$20,777--$20,777
Insurance$15,956--$15,956
Fees for Services Accounting$11,948--$11,948
Depreciation Depletion$6,600--$6,600
Travel$1,518--$1,518
Total Functional Expenses$1,387,176$41,405$0$1,428,581
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7B

Any expendiatures or other capital disbursement in excess of 5,000.

Form 990, Page 6, Part VI, Line 11B

Form 990 reviewed by executive director and board of directors.

Form 990, Page 6, Part VI, Line 12C

Procedures in place for board member to be recused from voting on any matter, where a conflict of interest exists.

Form 990, Page 6, Part VI, Line 15A

Board of directors approve all compensation for offices of the organization.

Form 990, Page 6, Part VI, Line 15B

Board of diarectors approves all compensation for dirctors and top managemetn officials.

Form 990, Page 6, Part VI, Line 19

All public documents are provided upon request within 30 days

Filing and Contact Details

Filer

Filer Name
Furnishing Hope Inc
EIN
20-0049351
Address
3857 BIRCH ST STE 503, NEWPORT BEACH, CA 92660

Signing Officer

Name
Elizabeth Phillips
Title
President/director
Phone
9496308240
Signed
2020-01-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Phillips
Voting Board Members
6
Independent Board Members
5
Employees
25
Volunteers
100

Preparer

Firm
Samuel V Ortiz Jr Accountancy Corp
Address
940 S COAST DR STE 178, COSTA MESA, CA 92626-1780
Preparer
Samuel V Ortiz Jr CPA
Phone
7145494444
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Volunteer services are provided by teams of skilled craftsmen lead by interior decorators and designers, who decorate the homes of families in crisis, wounded military and veterans. The furniture and decorator items are drawn for the organizations warehouse and any additional items required are purchased using cash cards provided by living spaces, inc.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEER SERVICES ARE PROVIDED BY TEAMS OF SKILLED CRAFTSMEN LEAD BY INTERIOR DECORATORS AND DESIGNERS, WHO DECORATE THE HOMES OF FAMILIES IN CRISIS, WOUNDED MILITARY AND VETERANS. THE FURNITURE AND DECORATOR ITEMS ARE DRAWN FOR THE ORGANIZATIONS WAREHOUSE AND ANY ADDITIONAL ITEMS REQUIRED ARE PURCHASED USING CASH CARDS PROVIDED BY LIVING SPACES, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANY EXPENDIATURES OR OTHER CAPITAL DISBURSEMENT IN EXCESS OF 5,000.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 REVIEWED BY EXECUTIVE DIRECTOR AND BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PROCEDURES IN PLACE FOR BOARD MEMBER TO BE RECUSED FROM VOTING ON ANY MATTER, WHERE A CONFLICT OF INTEREST EXISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD OF DIRECTORS APPROVE ALL COMPENSATION FOR OFFICES OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOARD OF DIARECTORS APPROVES ALL COMPENSATION FOR DIRCTORS AND TOP MANAGEMETN OFFICIALS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ALL PUBLIC DOCUMENTS ARE PROVIDED UPON REQUEST WITHIN 30 DAYS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TerminateOperationsInd0false
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IRS990/TotalProgramServiceExpensesAmt01387176
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01737272
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IRS990/WebsiteAddressTxt0WWW.FURNISHINGHOPE.ORG
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ReasonableCauseExplanation/ExplanationTxt0EXPLANATION FOR LATE FILING AND REQUEST FOR ABATEMENT OF THE LATE FILING PENALTY: THE ORGANIZATION'S OFFICE STAFF IS COMPRISED OF THE EXECUTIVE DIRECTOR. ALL OTHER OFFICE FUNCTIONS ARE PERFORMED BY VOLUTEERS OR OUTSIDE SERVICES (BOOKKEEPING AND PAYROLL). IN PREVIOUS YEARS A CPA HAS PREPARED THE TAX RETURNS ON A PRO BONO BASIS. DUE TO THE GROWTH OF THE REVENUE OF THE AGENCY, THE ESTABLISHMENT OF A FURNITURE OUTLET FOR EXCESS DONATED FURNITURE (THRIFT SHOP) AND THE INCREASED NUMBER OF HOMES FURNISHED FOR THE YEAR FROM 97 IN THE PREVIOUS YEAR TO 143 IN 2018, THE EXECUTIVE DIRECTOR WAS OVER BURDENDED. IN 2018, THE ORGANIZATION WAS INFORMED THAT IT REQUIRED ADDITIONAL ACCOUNTING SUPPORT THAT THE CPA PREPARING THE RETURN IN THE PAST WAS UNABLE TO PROVIDE. THE EXECUTIVE DIRECTOR INTERVIEWED SEVERAL FIRMS THAT COULD PROVIDE THE REQUIRED SERVICES AND WAS IN THE PROCESS OF OBTAINING PROPOSALS AND EVALUATING THEM. HOWEVER, DURING THE PROCESS A FIRM WAS NOT SELECTED BY THE ORIGINAL DUE DATE OF THE
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ELIZABETH PHILLIPS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09496308240
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-01-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FURNISHING HOPE INC
ReturnHeader/Filer/BusinessNameControlTxt0FURN
ReturnHeader/Filer/EIN0200049351
ReturnHeader/Filer/USAddress/AddressLine1Txt03857 BIRCH ST STE 503
ReturnHeader/Filer/USAddress/CityNm0NEWPORT BEACH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd092660
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId024EE6C22EAD48E369D099071F3F4655F8DDD45CD
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId02AF561AED5CF417DF4A8F4480DC7452C8E7912DA
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02020-01-31
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:58:48
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0330839156
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SAMUEL V ORTIZ JR ACCOUNTANCY CORP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0940 S COAST DR STE 178
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COSTA MESA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0926261780
ReturnHeader/PreparerPersonGrp/PhoneNum07145494444
ReturnHeader/PreparerPersonGrp/PreparationDt02020-01-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SAMUEL V ORTIZ JR CPA
ReturnHeader/ReturnTs02020-01-31T15:58:48-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.00$0.12$2.88$1.44$1.68$0.24
2023Detailed filing. Detailed filing data is available for this year.$3.33$0.22$3.12$0.70$0.89$0.19
2022Detailed filing. Detailed filing data is available for this year.$3.34$0.04$3.31$0.87$0.87$0.00
2021Detailed filing. Detailed filing data is available for this year.$3.34$0.04$3.31$3.70$1.30$2.40
2020Detailed filing. Detailed filing data is available for this year.$0.91$0.00$0.91$0.99$0.76$0.22
2019Detailed filing. Detailed filing data is available for this year.$0.68$0.00$0.68$1.25$1.29$0.03
2018Detailed filing. Detailed filing data is available for this year.$0.72$0.00$0.72$1.74$1.43$0.31
2017Detailed filing. Detailed filing data is available for this year.$0.42$0.01$0.41$1.20$1.14$0.06
2016Detailed filing. Detailed filing data is available for this year.$0.35$0.00$0.35$0.47$0.55$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.43$0.00$0.44$0.57$0.40$0.17
2014Summary only. Only limited summary data is available for this year.$0.26$0.00$0.26$0.69$0.48$0.20
2013Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.25$0.27$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.00$0.08$0.32
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.10$0.00$0.10$0.24