Civic Intelligence

Hope & Main

990 • Fiscal year 2017 • EIN 27-2917974

Jul 01, 2016 to Jun 30, 2017 • Filed on Dec 23, 2017

691 Main StreetWarren, RI 02885

(401) 245-7400

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.10x

Higher debt load relative to assets than 93% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

93rd percentile

3.39x

Higher debt load relative to revenue than 93% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

55th percentile

4.8%

Higher net margin than 55% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

18th percentile

-5.4%

Faster asset growth than 18% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2017

Revenue Growth

89th percentile

65%

Faster revenue growth than 89% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2017

Assets

Down

$2,841,938

Down $336,910 (-11%) from 2015

Net Assets

Down

-$270,104

Down $210,794 (-355%) from 2015

Liabilities

Down

$3,112,042

Down $126,116 (-3.9%) from 2015

Revenue

Up

$916,675

Up $578,154 (+171%) from 2015

Expenses

Up

$873,065

Up $399,310 (+84%) from 2015

Net Income

Up

$43,610

Up $178,844 (+132%) from 2015

Historical Trend

Balance Sheet Trend

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

$4.0M$2.0M$0-$2.0MAssets 2015: $3,178,848Liabilities 2015: $3,238,158Net Assets 2015: -$59,3102015Assets 2017: $2,841,938Liabilities 2017: $3,112,042Net Assets 2017: -$270,1042017Assets 2018: $2,675,258Liabilities 2018: $3,071,825Net Assets 2018: -$396,5672018Assets 2019: $2,561,774Liabilities 2019: $3,119,120Net Assets 2019: -$557,3462019Assets 2020: $2,633,590Liabilities 2020: $3,269,670Net Assets 2020: -$636,0802020Assets 2021: $2,435,267Liabilities 2021: $3,184,443Net Assets 2021: -$749,1762021Assets 2022: $2,526,610Liabilities 2022: $3,335,073Net Assets 2022: -$808,4632022Assets 2023: $2,480,495Liabilities 2023: $3,231,559Net Assets 2023: -$751,0642023Assets 2024: $2,877,570Liabilities 2024: $3,660,089Net Assets 2024: -$782,5192024

Highlighted filing

2017

Assets$2,841,938
Liabilities$3,112,042
Net Assets-$270,104

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2015: $338,521Expenses 2015: $473,755Net Income 2015: -$135,2342015Revenue 2017: $916,675Expenses 2017: $873,065Net Income 2017: $43,6102017Revenue 2018: $762,511Expenses 2018: $888,974Net Income 2018: -$126,4632018Revenue 2019: $774,079Expenses 2019: $934,858Net Income 2019: -$160,7792019Revenue 2020: $958,442Expenses 2020: $1,037,176Net Income 2020: -$78,7342020Revenue 2021: $1,007,450Expenses 2021: $1,120,546Net Income 2021: -$113,0962021Revenue 2022: $1,208,253Expenses 2022: $1,267,540Net Income 2022: -$59,2872022Revenue 2023: $1,653,386Expenses 2023: $1,611,836Net Income 2023: $41,5502023Revenue 2024: $1,858,043Expenses 2024: $1,997,698Net Income 2024: -$139,6552024

Highlighted filing

2017

Revenue$916,675
Expenses$873,065
Net Income$43,610
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Dec 23, 2017
Return Version
2016v3.0
Gross Receipts
$916,675
Mission and Program Overview

Mission

To help local entrepreneurs jump-start early-stage food companies and food related businesses by providing low cost, low risk access to shared-use commercial kitchens and other industry-specific technical resources.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,778,151$2,717,657▼ $60,494
Loans From Officers Directors$155,095$135,848▼ $19,247
Accounts Receivable$17,846$73,397▲ $55,551
Cash and Non-Interest-Bearing Accounts$47,521$44,778▼ $2,743
Prepaid Expenses and Deferred Charges$4,630$6,106▲ $1,476
Total Assets$2,848,852$2,841,938▼ $6,914
Other Assets Total$704--
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,921,450$2,880,141▼ $41,309
Other Liabilities$65,358$76,253▲ $10,895
Accounts Payable and Accrued Expenses$20,663$19,800▼ $863
Total Liabilities$3,162,566$3,112,042▼ $50,524
Net Assets / Fund Balance
Unrestricted Net Assets$-313,714$-270,104▲ $43,610
Total Net Assets Fund Balance$-313,714$-270,104▲ $43,610
Total Liabilities and Net Assets / Fund Balance$2,848,852$2,841,938▼ $6,914

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,342,634$172,473$2,515,107
Equipment$325,023$168,635$493,658
Land$50,000-$50,000
Compensation and Service Providers

Board Members and Trustees

NameTitle
Lisa RaiolaPresident
Clay PellDirector
Joanne B DahmerDirector
Leo PollockDirector
Lori Pivarnik PhdDirector
Nick RabarDirector
Rolando RobledoDirector
Sergio FerreiraDirector
Tamarah BaconDirector
Tony FonsecaDirector
W Henry BladeDirector
Kyle AdamonisShrm-cp Phr
Ellen AlmeidaTreasurer
Sheila BrushVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$320,806
Program Service Revenue
$595,482
Investment Income
$0
Other Revenue
$387
All Other Contributions
$320,806
Change in Net Assets
$43,610

Audited Revenue Reconciliation

Revenue per Audited Statements
$916,675
Total Revenue per Audited Statements
$916,675
Total Revenue per Form 990
$916,675
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$596,047
Salaries, Compensation, and Employee Benefits$277,018
Total Fundraising Expense$13,851
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$235,465$27,702$13,851$277,018
Depreciation Depletion$122,039$6,423-$128,462
Interest$105,726--$105,726
Occupancy$51,210$5,690-$56,900
Advertising$25,264--$25,264
Insurance$19,789$3,492-$23,281
Other Expenses$20,921$1,101-$22,022
Office Expenses-$19,343-$19,343
Fees for Services Other-$18,662-$18,662
Fees for Services Accounting-$8,174-$8,174
All Other Expenses$5,791--$5,791
Total Functional Expenses$768,627$90,587$13,851$873,065

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$873,065
Total Expenses per Audited Statements$873,065
Total Expenses per Form 990$873,065
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$155,095$135,848▼ $19,247
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Current Portion Long Term Debt$41,328
Tenant Security Deposits$34,925
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Governing documents, policies and financial statements are available upon request.

Form 990, Page 6, Part VI, Line 19

Governing documents, policies and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Hope & Main
EIN
27-2917974
Phone
4012457400
Address
691 MAIN STREET, WARREN, RI 02885

Signing Officer

Name
Lisa Raiola
Title
President
Phone
4012457400
Signed
2017-12-23

Organization Details

Principal Officer
Lisa Raiola
Formed
2014
Legal Domicile
Ri
Voting Board Members
14
Independent Board Members
14
Employees
12
Volunteers
40

Preparer

Firm
FARMER & FIRST PC CPA'S
Address
6 STATE ST, WARREN, RI 02885-3120
Preparer
Joseph Farmer CPA
Phone
4012471040
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

Accounting for uncertain income tax positions, relating to both federal and state income taxes, are required when a more likely than not threshold is attained. If such positions result in uncertainties, then the unrecognized tax liability is estimated based on a cumulative probability assessment that aggregates the estimated tax liability for all uncertain tax positions. With the adoption of these new rules, the organization assessed its tax positions in accordance with the guidance. The organization has determined that its tax status as a rhode island non-profit corporation is its only tax position and is highly certain. Therefore, these rules had no impact on the organization's financial statements.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING FOR UNCERTAIN INCOME TAX POSITIONS, RELATING TO BOTH FEDERAL AND STATE INCOME TAXES, ARE REQUIRED WHEN A MORE LIKELY THAN NOT THRESHOLD IS ATTAINED. IF SUCH POSITIONS RESULT IN UNCERTAINTIES, THEN THE UNRECOGNIZED TAX LIABILITY IS ESTIMATED BASED ON A CUMULATIVE PROBABILITY ASSESSMENT THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. WITH THE ADOPTION OF THESE NEW RULES, THE ORGANIZATION ASSESSED ITS TAX POSITIONS IN ACCORDANCE WITH THE GUIDANCE. THE ORGANIZATION HAS DETERMINED THAT ITS TAX STATUS AS A RHODE ISLAND NON-PROFIT CORPORATION IS ITS ONLY TAX POSITION AND IS HIGHLY CERTAIN. THEREFORE, THESE RULES HAD NO IMPACT ON THE ORGANIZATION'S FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
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