Civic Intelligence

Hope Community Inc.

990 • Fiscal year 2013 • EIN 41-1292817

Jan 01, 2013 to Dec 31, 2013 • Filed on Jun 20, 2014

Organization ProfileWWW.HOPE-COMMUNITY.ORG
611 East Franklin AvenueMinneapolis, MN 55404

(612) 874-8867

Siviq Scores

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

Liabilities / Assets

60th percentile

0.36x

Higher debt load relative to assets than 60% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Liabilities / Revenue

85th percentile

1.79x

Higher debt load relative to revenue than 85% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Net Margin

75th percentile

16%

Higher net margin than 75% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Top Officer Pay

20th percentile

$73,096

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2013

Asset Growth

55th percentile

4.9%

Faster asset growth than 55% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Revenue Growth

87th percentile

41%

Faster revenue growth than 87% of similar nonprofits.

2013 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2012 to 2013

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$10,226,689

Up $480,571 (+4.9%) from 2012

Net Assets

Up

$6,512,728

Up $432,792 (+7.1%) from 2012

Liabilities

Up

$3,713,961

Up $47,779 (+1.3%) from 2012

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin75th percentile

Revenue

Up

$2,072,967

Up $600,971 (+41%) from 2012

Expenses

Up

$1,731,325

Up $107,335 (+6.6%) from 2012

Net Income

Up

$341,642

Up $493,636 (+325%) from 2012

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$15M$10M$5.0M$0Assets 2011: $9,895,277Liabilities 2011: $3,694,172Net Assets 2011: $6,201,1052011Assets 2012: $9,746,118Liabilities 2012: $3,666,182Net Assets 2012: $6,079,9362012Assets 2013: $10,226,689Liabilities 2013: $3,713,961Net Assets 2013: $6,512,7282013Assets 2014: $9,005,476Liabilities 2014: $2,861,487Net Assets 2014: $6,143,9892014Assets 2015: $8,924,002Liabilities 2015: $2,225,799Net Assets 2015: $6,698,2032015Assets 2016: $8,648,909Liabilities 2016: $2,324,174Net Assets 2016: $6,324,7352016Assets 2017: $8,725,099Liabilities 2017: $2,364,697Net Assets 2017: $6,360,4022017Assets 2018: $8,502,737Liabilities 2018: $2,521,093Net Assets 2018: $5,981,6442018Assets 2019: $10,052,337Liabilities 2019: $2,740,951Net Assets 2019: $7,311,3862019Assets 2020: $13,851,231Liabilities 2020: $7,450,249Net Assets 2020: $6,400,9822020Assets 2021: $13,754,226Liabilities 2021: $7,660,852Net Assets 2021: $6,093,3742021Assets 2022: $12,896,217Liabilities 2022: $7,832,917Net Assets 2022: $5,063,3002022Assets 2023: $12,000,734Liabilities 2023: $8,005,689Net Assets 2023: $3,995,0452023Assets 2024: $11,758,795Liabilities 2024: $9,228,011Net Assets 2024: $2,530,7842024

Highlighted filing

2013

Assets$10,226,689
Liabilities$3,713,961
Net Assets$6,512,728
Open 2013 Filing

Operations Trend

Revenue Growth87th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $1,732,4942011Revenue 2012: $1,471,996Expenses 2012: $1,623,990Net Income 2012: -$151,9942012Revenue 2013: $2,072,967Expenses 2013: $1,731,325Net Income 2013: $341,6422013Revenue 2014: $1,574,395Expenses 2014: $1,993,020Net Income 2014: -$418,6252014Revenue 2015: $2,526,303Expenses 2015: $1,976,910Net Income 2015: $549,3932015Revenue 2016: $1,786,321Expenses 2016: $2,184,382Net Income 2016: -$398,0612016Revenue 2017: $2,553,978Expenses 2017: $2,582,516Net Income 2017: -$28,5382017Revenue 2018: $2,068,371Expenses 2018: $2,542,431Net Income 2018: -$474,0602018Revenue 2019: $3,834,571Expenses 2019: $2,595,421Net Income 2019: $1,239,1502019Revenue 2020: $3,264,816Expenses 2020: $3,552,280Net Income 2020: -$287,4642020Revenue 2021: $3,542,167Expenses 2021: $3,972,429Net Income 2021: -$430,2622021Revenue 2022: $3,276,829Expenses 2022: $4,184,989Net Income 2022: -$908,1602022Revenue 2023: $3,529,911Expenses 2023: $4,684,312Net Income 2023: -$1,154,4012023Revenue 2024: $3,594,701Expenses 2024: $4,104,786Net Income 2024: -$510,0852024

Highlighted filing

2013

Revenue$2,072,967
Expenses$1,731,325
Net Income$341,642
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jun 20, 2014
Return Version
2013v3.1
Gross Receipts
$2,072,967
Mission and Program Overview

Mission

TO BE A CATALYST FOR CHANGE, GROWTH, SAFETY AND BUILDING A SUSTAINABLE NEIGHBORHOOD MODEL THROUGH COOMMUNITY ORGANIZATION, ACTIVE EDUCATION, LEADERSHIP AND AFFORDABLE HOUSING DEVELOPMENT. additionally the vision is to be a nationally recognized model for urban community transformation in areas of engagement, neighborhood redevelopment and affordable housing.

To be a catalyst for change, growth, safety and building a sustainable neighborhood model through coommunity organization, active education, leadership and affordable housing development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,883,774$3,702,489▼ $181,285
Other Notes and Loans Receivable, Net$2,046,223$2,046,223→ $0
Cash and Non-Interest-Bearing Accounts$477,190$542,511▲ $65,321
Investments in Publicly Traded Securities$267,414$361,998▲ $94,584
Pledges and Grants Receivable$9,421$219,336▲ $209,915
Savings and Temporary Cash Investments$43,394$58,062▲ $14,668
Intangible Assets$62,347$57,842▼ $4,505
Prepaid Expenses and Deferred Charges$72,813$30,203▼ $42,610
Accounts Receivable$5,812$18,219▲ $12,407
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Inventories for Sale or Use-$0-
Total Assets$9,746,117$10,226,689▲ $480,572
Other Assets Total$2,877,729$3,189,806▲ $312,077
Liabilities
Mortgage Notes Payable Secured by Investment Property$3,400,942$3,404,349▲ $3,407
Other Liabilities$178,837$199,761▲ $20,924
Accounts Payable and Accrued Expenses$86,402$109,851▲ $23,449
Total Liabilities$3,666,181$3,713,961▲ $47,780
Net Assets / Fund Balance
Unrestricted Net Assets$5,981,920$6,159,717▲ $177,797
Temporarily Rstr Net Assets$28,016$277,011▲ $248,995
Permanently Rstr Net Assets$70,000$76,000▲ $6,000
Total Net Assets Fund Balance$6,079,936$6,512,728▲ $432,792
Total Liabilities and Net Assets / Fund Balance$9,746,117$10,226,689▲ $480,572

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,595,833$1,056,776$2,652,609
Buildings$1,736,442$830,611$2,567,053
Land$327,697-$327,697
Other Land Buildings$42,517$190,845$233,362
Other Assets Org$36,605--
Compensation and Service Providers
Top Officer Pay20th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary KeefeExecutive DirectorFT$66,543$6,553$73,096

Board Members and Trustees

NameTitle
Heidi Lasley BarajasChair
Anne BarryDirector
Atika TynerDirector
Cathy SmithDirector
Cecile BedorDirector
Clint HewittDirector
Jake VirdenDirector
Jody JonasDirector
Maria MclemoreDirector
Muna AbdirahmanDirector
Patricia CummingsDirector
Paul LeightonDirector
Sharon Sayles BeltonDirector
Steve ShapiroDirector
Brockman SchumacherSecretary
David NewmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,500,712
Program Service Revenue
$453,244
Investment Income
$87,450
Other Revenue
$31,561
All Other Contributions
$1,468,351
Change in Net Assets
$341,642

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 AmountValuation Method
Securities Publicly Traded1$58,980Fair Market Value
Total Noncash Contributions1$58,980-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,072,967
Revenue Not Reported on Form 990
$181,023
Total Revenue per Audited Statements
$2,253,990
Total Revenue per Form 990
$2,072,967
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$979,001
Salaries, Compensation, and Employee Benefits$752,324
Total Fundraising Expense$159,325
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$384,297$83,780$92,357$560,434
Depreciation Depletion$237,093$1,469$1,181$239,743
Fees for Services Other$156,293$4,468$19,256$180,017
Interest$111,467--$111,467
Other Employee Benefits$48,553$13,238$12,374$74,165
Current Officers, Directors, Trustees, and Key Employees$50,436$10,964$11,696$73,096
All Other Expenses$29,262$5,835$11,308$46,405
Payroll Taxes$30,075$7,109$7,445$44,629
Occupancy$41,194$1,139$1,626$43,959
Other Expenses$35,497--$35,497
Insurance$25,397$3,139$495$29,031
Office Expenses$5,210$1,160$1,286$7,656
Travel$456$621$150$1,227
Information Technology$75$40$151$266
Total Functional Expenses$1,439,038$132,962$159,325$1,731,325

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,912,348
Expenses per Audited Statements$1,731,325
Total Expenses per Form 990$1,731,325
Expenses Not Reported on Form 990$181,023
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest Payable$116,735
TENANTS' DEPOSITS$58,670
Copier Capital Lease$24,356
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“Aeon management has been contracted to manage properties owned by hope and franklin portland gateway limited partnerships.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Completed Form 990 will be presented to board for review and approval at a scheduled meeting or via e-mail.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Director of finance ensures that all conflict of interest questionnaires are completed, reviews them for conflicts and submits to the executive director and board for review any questionnaires that discloses actual or potential conflicts.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Executive Committee of the Board developed the process for establishing the Executive Director's compensation and annual performance review. The Executive Director and Board Co-Chairs write about results of goals established for the year. The Executive Committee discusses results and decides on compensation amount.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The executive director uses the annual compensation information put out by Minnesota Council of Nonprofits in its Minnesota Nonprofit Salary and Benefits Survey as a guide in determining salaries and benefits levels for all positions, excluding their own. Final compensation amounts are negotiated between the executive director and employee.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Available upon request and via the charities review council's smart givers network.”

Filing and Contact Details

Filer

EIN
41-1292817
Phone
6128748867

Signing Officer

Name
Mary Keefe
Title
Executive Direc
Signed
2014-06-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mary Keefe
Formed
1977
Legal Domicile
Mn
Voting Board Members
16
Independent Board Members
16
Employees
19
Volunteers
128

Preparer

Preparer
Neal O Evert
Phone
9528310085
Supplemental Narrative

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

“Hope Community is the Managing General Partner of Franklin Portland Gateway Phase III Limited Partnership. The Partnership was formed to construct, lease and operate a 41-unit apartment building, known as The Wellstone, located in Minneapolis. During the construction phase of the project, Partnerships funds were held and disbursed by a local title company. When construction ended and the building placed in service, all remaining funds held by the title company were turned over to Hope Community and placed in a separate depository account. Funds are periodically disbursed from the account to pay for approved project related costs.”

Part X : FIN48 Footnote

“The Organization has a tax-exempt status under Section 501(c)(3) of the Internal Revenue Code and has adopted Accounting for Uncertainty in Income Taxes, ASC 740-10. The Organization's policy is to evaluate uncertain tax positions, at least annually, for the potential for income tax exposure from unrelated business income or from loss of nonprofit status. The Organization continues to operate consistent with its original exemption application and each year takes the necessary actions to maintain its exempt status. It has been classified as an organization that is not a private foundation under the Internal Revenue Code and charitable contributions by donors are tax deductible.”

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IRS990/Desc0Asset Management- Hope currently manages 173 affordable rental units that provide housing for 475 residents. Stable, healthy and affordable housing in a supportive community environment is an effective way for individuals and families to meet the challenges of poverty and isolation in an urban environment. Hope's relationships with residents, funders, government partners, neighbors, community members and many others are rooted in respect and mutual accountability.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Community Engagement-Hope works with diverse adults and youth to build leadership and multi-cultural networks in a community known for isolation. At the core: Hope's year-round work with over 500 community residents annually creates opportunity and long-term sustainability (not limited to residents in our housing). Young children learn to read and write in a community-based literacy program and learn about growing and eating healthy food. Adults learn, lead and network in parent learning groups, gardening and food access and a bike transportation group.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Real Estate Development-Hope has built or rehabbed 173 rental units in the past 20 years and developed 25,000 sq. ft. of community commercial spaces. The South Quarter project was launched and has transformed the area bringing much-needed housing, new businesses and space for the community to gather. The overall South Quarter project will include 250 new units on all four corners of the strategic intersection at Portland and Franklin Avenues in Minneapolis and honors diversity, affordability and economic opportunity, all central to Hope's vision for neighborhood revitalization.
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Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,226,689
Liabilities
$3,713,961
Net assets
$6,512,728
Revenue
$2,072,967
Expenses
$1,731,325
Net income
$341,642
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.8$9.23$2.53$3.59$4.10$0.51
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.0$8.01$4.00$3.53$4.68$1.15
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.9$7.83$5.06$3.28$4.18$0.91
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.8$7.66$6.09$3.54$3.97$0.43
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.9$7.45$6.40$3.26$3.55$0.29
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.1$2.74$7.31$3.83$2.60$1.24
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.50$2.52$5.98$2.07$2.54$0.47
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.73$2.36$6.36$2.55$2.58$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.65$2.32$6.32$1.79$2.18$0.40
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.92$2.23$6.70$2.53$1.98$0.55
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.01$2.86$6.14$1.57$1.99$0.42
2013Detailed filing. Detailed filing data is available for this year.$10.2$3.71$6.51$2.07$1.73$0.34
2012Summary only. Only limited summary data is available for this year.$9.75$3.67$6.08$1.47$1.62$0.15
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.90$3.69$6.20$1.73
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2013 filings • 501(c)3 • $10M-$25M nonprofits