Civic Intelligence

Hope Partnership Inc.

990 • Fiscal year 2023 • EIN 20-1683627

Jul 01, 2022 to Jun 30, 2023 • Filed on May 14, 2024

Organization Profilewww.hope-ct.org
99B Durham RoadMadison, CT 06443

(860) 388-9513

Siviq Scores

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

Liabilities / Assets

56th percentile

0.18x

Higher debt load relative to assets than 56% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

92nd percentile

2.76x

Higher debt load relative to revenue than 92% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Net Margin

11th percentile

-31%

Higher net margin than 11% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

30th percentile

$75,005

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 13.3% of source-year revenue.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2023

Asset Growth

10th percentile

-9.6%

Faster asset growth than 10% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

28th percentile

-7.1%

Faster revenue growth than 28% of similar nonprofits.

2023 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$8,867,086

Down $944,636 (-9.6%) from 2022

Net Assets

Up

$7,309,014

Up $2,394,420 (+49%) from 2022

Liabilities

Down

$1,558,072

Down $3,339,056 (-68%) from 2022

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin11th percentile

Revenue

Down

$564,918

Down $43,059 (-7.1%) from 2022

Expenses

Up

$739,698

Up $21,520 (+3.0%) from 2022

Net Income

Down

-$174,780

Down $64,579 (-59%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$10M$5.0M$0Assets 2011: $312,033Liabilities 2011: $195,696Net Assets 2011: $116,3372011Assets 2012: $348,823Liabilities 2012: $181,519Net Assets 2012: $167,3042012Assets 2013: $413,645Liabilities 2013: $180,475Net Assets 2013: $233,1702013Assets 2014: $334,905Liabilities 2014: $180,572Net Assets 2014: $154,3332014Assets 2015: $422,907Liabilities 2015: $180,333Net Assets 2015: $242,5742015Assets 2016: $224,739Liabilities 2016: $3,575Net Assets 2016: $221,1642016Assets 2017: $202,799Liabilities 2017: $2,561Net Assets 2017: $200,2382017Assets 2018: $271,060Liabilities 2018: $65,244Net Assets 2018: $205,8162018Assets 2019: $227,158Liabilities 2019: $67,283Net Assets 2019: $159,8752019Assets 2020: $2,653,193Liabilities 2020: $2,021,932Net Assets 2020: $631,2612020Assets 2021: $6,346,446Liabilities 2021: $1,254,638Net Assets 2021: $5,091,8082021Assets 2022: $9,811,722Liabilities 2022: $4,897,128Net Assets 2022: $4,914,5942022Assets 2023: $8,867,086Liabilities 2023: $1,558,072Net Assets 2023: $7,309,0142023Assets 2024: $8,767,633Liabilities 2024: $1,475,126Net Assets 2024: $7,292,5072024Assets 2025: $8,791,106Liabilities 2025: $1,423,024Net Assets 2025: $7,368,0822025

Highlighted filing

2023

Assets$8,867,086
Liabilities$1,558,072
Net Assets$7,309,014
Open 2023 Filing

Operations Trend

Revenue Growth28th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $57,750Expenses 2011: $90,967Net Income 2011: -$33,2172011Revenue 2012: $168,588Expenses 2012: $117,621Net Income 2012: $50,9672012Revenue 2013: $156,033Expenses 2013: $90,167Net Income 2013: $65,8662013Revenue 2014: $85,595Expenses 2014: $114,528Net Income 2014: -$28,9332014Revenue 2015: $92,334Expenses 2015: $105,639Net Income 2015: -$13,3052015Revenue 2016: -$19,389Expenses 2016: $99,186Net Income 2016: -$118,5752016Revenue 2017: $86,507Expenses 2017: $107,433Net Income 2017: -$20,9262017Revenue 2018: $120,566Expenses 2018: $114,988Net Income 2018: $5,5782018Revenue 2019: $109,944Expenses 2019: $155,885Net Income 2019: -$45,9412019Revenue 2020: $557,606Expenses 2020: $86,220Net Income 2020: $471,3862020Revenue 2021: $4,716,601Expenses 2021: $256,054Net Income 2021: $4,460,5472021Revenue 2022: $607,977Expenses 2022: $718,178Net Income 2022: -$110,2012022Revenue 2023: $564,918Expenses 2023: $739,698Net Income 2023: -$174,7802023Revenue 2024: $737,509Expenses 2024: $754,016Net Income 2024: -$16,5072024Revenue 2025: $833,624Expenses 2025: $758,049Net Income 2025: $75,5752025

Highlighted filing

2023

Revenue$564,918
Expenses$739,698
Net Income-$174,780
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$566,070
Mission and Program Overview

Mission

Hope partnership's mission is to create a continuum of affordable housing options in lower middlesex county, old lyme and surrounding towns in order to help ensure a vibrant economy and housing choices for all citizens through the collaborative efforts of governments, businesses, religious communities, civic organizations, and individuals.

To create a continuum of affordable housing options in order to help ensure an eclectic economy and housing choices for all citizens through the collaborative efforts of governments, businesses, religious communities, civic organizations, and individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,537,052$8,288,870▼ $248,182
Savings and Temporary Cash Investments$188,595$245,294▲ $56,699
Intangible Assets$149,682$150,103▲ $421
Cash and Non-Interest-Bearing Accounts$148,586$129,268▼ $19,318
Prepaid Expenses and Deferred Charges$31,353$25,310▼ $6,043
Pledges and Grants Receivable$18,929$16,016▼ $2,913
Accounts Receivable$74,714$2,442▼ $72,272
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Total Assets$9,159,443$8,867,086▼ $292,357
Other Assets Total$10,532$9,783▼ $749
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,562,374$1,495,546▼ $66,828
Accounts Payable and Accrued Expenses$113,275$62,526▼ $50,749
Total Liabilities$1,675,649$1,558,072▼ $117,577
Net Assets / Fund Balance
Net Assets With Donor Restrictions$8,497,801$8,247,997▼ $249,804
Net Assets Without Donor Restrictions$-1,014,007$-938,983▲ $75,024
Total Net Assets Fund Balance$7,483,794$7,309,014▼ $174,780
Total Liabilities and Net Assets / Fund Balance$9,159,443$8,867,086▼ $292,357

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,225,488$1,504,322$9,729,810
Land$60,000-$60,000
Equipment$3,250$17,988$21,238
Other Land Buildings$132$6,515$6,647
Compensation and Service Providers
Top Officer Pay30th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Karla LindquistExecutive DirectorPT$75,005$75,005

Board Members and Trustees

NameTitle
Tony LyonsPresident
Pamela Days-luketichVice President
Beebe MillerDirector
Bill NealeDirector
Dg FittonDirector
JOHN O'GRADYDirector
Larry FreundlichDirector
Leslie MckillipDirector
Lon SeidmanDirector
Maryellen ShuckerowDirector
Preston MaynardDirector
Renee PallenbergDirector
Richard ScholnickDirector
Stephen DowlerDirector
Tom OrtolevaDirector
Elizabeth BallardSecretary
Calvin PriceTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$127,004
Program Service Revenue
$437,775
Investment Income
$346
Other Revenue
$-207
All Other Contributions
$72,675
Change in Net Assets
$-174,780
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$626,375
Salaries, Compensation, and Employee Benefits$113,323
Total Fundraising Expense$5,071
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$254,996--$254,996
Current Officers, Directors, Trustees, and Key Employees$58,668$11,000$3,667$73,335
Interest$50,695--$50,695
Fees for Services Accounting$3,960$29,209-$33,169
Other Salaries and Wages$32,266--$32,266
Insurance$24,388$675$225$25,288
Occupancy$23,102$587$196$23,885
Fees for Services Management$22,098--$22,098
All Other Expenses$19,834$1,202$400$21,436
Payroll Taxes$6,963$569$190$7,722
Other Expenses$5,951$1,116$372$7,439
Fees for Services Other$5,800--$5,800
Fees for Services Legal$1,073$1,843-$2,916
Office Expenses$1,498$62$21$1,581
Advertising-$335-$335
Total Functional Expenses$688,029$46,598$5,071$739,698
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$1,152
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The executive committee meets to review and approve form 990 before it is filed with irs. Copies are made available to other board members.”

Form 990, Part VI, Section B, Line 12C

“Board members are provided a copy of the conflict of interest policy which requires disclosure of any possible conflicts.”

Form 990, Part VI, Section B, Line 15A

“The board of directors determines compensation based on local market conditions and number of hours the position requires.”

Form 990, Part VI, Section B, Line 15B

“No officers or members of the board of directors are compensated.”

Form 990, Part VI, Section C, Line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Hope Partnership Inc
EIN
20-1683627
Phone
8603889513
Address
99B DURHAM ROAD, MADISON, CT 06443

Signing Officer

Name
Stephen Dowler
Title
Treasurer
Signed
2024-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tony Lyons
Formed
2004
Legal Domicile
Ct
Voting Board Members
17
Independent Board Members
17
Employees
1
Volunteers
25

Preparer

Firm
WollackLewitz LLC
Address
36 Elm Street, Old Saybrook, CT 06475
Preparer
Joseph J Wollack CPA
Phone
8603884451
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IRS990/Desc0IN ADDITION TO MAINTAINING AFFORDABLE HOUSING FOR 33 LOW-TO MODERATE INCOME HOUSEHOLDS IN ESSEX AND OLD SAYBROOK, HOPE WORKED WITH OUR CO-DEVELOPERS ON NECESSARY ITEMS TO PROGRESS TOWARDS CLOSING ON FINANCING FOR 27 ADDITIONAL NEW UNITS OF HOUSING IN MADISON, CT. THIS COMMUNITY WILL BE COMPOSED OF 24 UNITS OF AFFORDABLE HOUSING WITH 7 MARKET RATE UNITS, 4 OF WHICH ARE ALREADY COMPLETED.HOPE ALSO SUBMITTED, WITH A CO-DEVELOPER, AN RFP RESPONSE TO REDEVELOP A HISTORIC SCHOOL IN CLINTON, THE PIERSON SCHOOL, INTO 50 SENIOR-PREFERENCE AFFORDABLE HOUSING UNITS.HOPE'S EFFORTS INCLUDED ADVOCATING FOR AFFORDABLE HOUSING IN THE COMMUNITIES THEY SERVE AS A WAY TO EDUCATE THE PUBLIC ON THE NEED WITH RPESENTATIONS TO COMMUNITY, BUSINESS, AND RELIGOUS ORGANIZATIONS. HOPE HAS MET WITH ELECTED OFFICIALS INCLUDING FIRST SELECTPERSONS FROM ESSEX, EAST HADDAM, MADISON, OLD SAYBROOK, AND WESTBROOK, AS WELL AS THE APPOINTED TOWN MANAGER OF CLINTON.
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IRS990/Form990PartVIISectionAGrp/PersonNm15PRESTON MAYNARD
IRS990/Form990PartVIISectionAGrp/PersonNm16CALVIN PRICE
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IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14President
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt17Vice President
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IRS990/MembersOrStockholdersInd0false
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IRS990/MinutesOfCommitteesInd0true
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IRS990/OperateHospitalInd0false
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IRS990/OtherExpensesGrp/Desc3DUES & SUBSCRIPTIONS
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IRS990/ReportLandBuildingEquipmentInd0true
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,867,086
Liabilities
$1,558,072
Net assets
$7,309,014
Revenue
$564,918
Expenses
$739,698
Net income
-$174,780
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$8.79$1.42$7.37$0.83$0.76$0.08
2024Detailed filing. Detailed filing data is available for this year.$8.77$1.48$7.29$0.74$0.75$0.02
2023Detailed filing. Detailed filing data is available for this year.$8.87$1.56$7.31$0.56$0.74$0.17
2022Detailed filing. Detailed filing data is available for this year.$9.81$4.90$4.91$0.61$0.72$0.11
2021Detailed filing. Detailed filing data is available for this year.$6.35$1.25$5.09$4.72$0.26$4.46
2020Detailed filing. Detailed filing data is available for this year.$2.65$2.02$0.63$0.56$0.09$0.47
2019Detailed filing. Detailed filing data is available for this year.$0.23$0.07$0.16$0.11$0.16$0.05
2018Detailed filing. Detailed filing data is available for this year.$0.27$0.07$0.21$0.12$0.11$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.09$0.11$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.22$0.02$0.10$0.12
2015Detailed filing. Detailed filing data is available for this year.$0.42$0.18$0.24$0.09$0.11$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.33$0.18$0.15$0.09$0.11$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.18$0.23$0.16$0.09$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.18$0.17$0.17$0.12$0.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.31$0.20$0.12$0.06$0.09$0.03