Civic Intelligence

Hope Community Inc.

990 • Fiscal year 2016 • EIN 41-1292817

Jan 01, 2016 to Dec 31, 2016 • Filed on Aug 14, 2017

Organization ProfileWWW.HOPE-COMMUNITY.ORG

View Organization Page

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

59th percentile

0.27x

Higher debt load relative to assets than 59% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

83rd percentile

1.30x

Higher debt load relative to revenue than 83% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

13th percentile

-22%

Higher net margin than 13% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

32nd percentile

$82,374

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

26th percentile

-3.1%

Faster asset growth than 26% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

11th percentile

-29%

Faster revenue growth than 11% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets59th percentile

Assets

Down

$8,648,909

Down $275,093 (-3.1%) from 2015

Net Assets

Down

$6,324,735

Down $373,468 (-5.6%) from 2015

Liabilities

Up

$2,324,174

Up $98,375 (+4.4%) from 2015

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin13th percentile

Revenue

Down

$1,786,321

Down $739,982 (-29%) from 2015

Expenses

Up

$2,184,382

Up $207,472 (+10%) from 2015

Net Income

Down

-$398,061

Down $947,454 (-172%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2016

Assets$8,648,909
Liabilities$2,324,174
Net Assets$6,324,735
Open 2016 Filing

Operations Trend

Revenue Growth11th 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

2016

Revenue$1,786,321
Expenses$2,184,382
Net Income-$398,061
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Aug 14, 2017
Return Version
2016v3.0
Gross Receipts
$1,786,321
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.

Hope Community creates connections that strengthen the power of community members and communities. We cultivate community leaders, build community capacity, care for the housing and community spaces we develop, and pursue equity and diversity in all that we do.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,302,823$3,105,202▼ $197,621
Other Notes and Loans Receivable, Net$2,046,223$2,046,223→ $0
Cash and Non-Interest-Bearing Accounts$660,087$622,418▼ $37,669
Savings and Temporary Cash Investments$564,984$567,386▲ $2,402
Investments in Publicly Traded Securities$306,518$339,439▲ $32,921
Accounts Receivable$69,955$145,283▲ $75,328
Intangible Assets$48,832$44,327▼ $4,505
Pledges and Grants Receivable$199,179$38,647▼ $160,532
Prepaid Expenses and Deferred Charges$10,263$11,344▲ $1,081
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$8,924,002$8,648,909▼ $275,093
Other Assets Total$1,715,138$1,728,640▲ $13,502
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,977,997$2,061,999▲ $84,002
Accounts Payable and Accrued Expenses$167,255$185,182▲ $17,927
Other Liabilities$65,547$61,993▼ $3,554
Deferred Revenue$15,000$15,000→ $0
Total Liabilities$2,225,799$2,324,174▲ $98,375
Net Assets / Fund Balance
Unrestricted Net Assets$5,865,259$5,654,444▼ $210,815
Temporarily Rstr Net Assets$742,944$572,291▼ $170,653
Permanently Rstr Net Assets$90,000$98,000▲ $8,000
Total Net Assets Fund Balance$6,698,203$6,324,735▼ $373,468
Total Liabilities and Net Assets / Fund Balance$8,924,002$8,648,909▼ $275,093

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,193,636$1,543,926$2,737,562
Buildings$1,546,941$1,020,112$2,567,053
Land$327,697-$327,697
Other Land Buildings$36,928$227,113$264,041
Other Assets Org$33,848--
Compensation and Service Providers
Top Officer Pay32nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mary KeefeExecutive DirectorFT$78,025$4,349$82,374

Board Members and Trustees

NameTitle
Heidi BarajasChair
Cathy SmithDirector
Cecile BedorDirector
Claire ChangDirector
Clint HewittDirector
Jody JonasDirector
Maria MclemoreDirector
Maria PabonDirector
Muna AbdirahmanDirector
Patricia CummingsDirector
Paul LeightonDirector
Sharon Sayles BeltonDirector
Steve ShapiroDirector
Brockman SchumacherSecretary
Anne BarryTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,201,894
Program Service Revenue
$463,144
Investment Income
$87,293
Other Revenue
$33,990
All Other Contributions
$1,201,894
Change in Net Assets
$-398,061

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,786,321
Revenue Not Reported on Form 990
$110,414
Total Revenue per Audited Statements
$1,896,735
Total Revenue per Form 990
$1,786,321
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,230,405
Salaries, Compensation, and Employee Benefits$953,977
Total Fundraising Expense$129,709
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$574,429$94,136$62,984$731,549
Fees for Services Other$271,596$3,592$20,508$295,696
Depreciation Depletion$243,185$955$1,134$245,274
Interest$125,219--$125,219
Current Officers, Directors, Trustees, and Key Employees$56,838$12,356$13,180$82,374
Other Employee Benefits$66,938$7,007$6,782$80,727
All Other Expenses$56,506$5,259$15,348$77,113
Payroll Taxes$48,126$6,017$5,184$59,327
Insurance$38,669$542$777$39,988
Other Expenses$37,913--$37,913
Occupancy$23,647$674$852$25,173
Office Expenses$12,243$1,144$1,577$14,964
Information Technology$10,346$1,017$1,344$12,707
Travel$564$242$39$845
Total Functional Expenses$1,921,732$132,941$129,709$2,184,382

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,270,203
Expenses per Audited Statements$2,184,382
Total Expenses per Form 990$2,184,382
Expenses Not Reported on Form 990$85,821
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
TENANTS' DEPOSITS$61,993
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

“Form 990 will be presented to board for review and approval at next scheduled BOD meeting or via e-mail upon receipt of draft audit and Form 990 as provided by auditor.”

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

Filer Name
Hope Community Inc
EIN
41-1292817
Phone
6128748867
Address
611 EAST FRANKLIN AVENUE, MINNEAPOLIS, MN 55404

Signing Officer

Name
Jackie Blakey
Title
Director of Finance
Signed
2017-08-14
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
26
Volunteers
200

Preparer

Firm
Carpenter Evert & Associates
Address
7760 France Ave S 940, Bloomington, MN 55435
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/Desc0Community Engagement Hope Community works with diverse adults and youth to build leadership and multi-cultural networks in a community known for isolation. At the core: Hopes year-round work with over 500 community residents annually creates opportunity and long-term sustainability (not limited to residents in our housing). In addition, another 1,000 participate in special opportunities, workshops and events. We always focus on skill building, leadership development, and opportunities to build individual capacity, community capacity and community change. Our work is not about Hope doing for people; it is about supporting people to do for themselves. Core program areas include Art, Policy, and Power; Community Health and Resilience, and Youth and Family Engagement.
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IRS990/MissionDesc0Hope Community creates connections that strengthen the power of community members and communities. We cultivate community leaders, build community capacity, care for the housing and community spaces we develop, and pursue equity and diversity in all that we do.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Housing and Asset Management Hope currently manages 263 affordable rental units that provide housing for more than 700 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. Hopes relationships with residents are rooted in respect and mutual accountability. As a property owner committed to its buildings for the long-term, Hope is responsible for the traditional duties of a real estate asset manager financial oversight, selection of property manager, compliance with regulatory agreements, capital improvement planning, etc. However, Hopes approach to asset management involves a much broader understanding of how to maintain our real estate as a long-term asset. Key to that understanding is relationship maintaining relationships with residents, funders, government partners, neighbors, community members, and many others.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Real Estate Development Hope Communitys work over the last 20+ years has featured an innovative, entrepreneurial approach to community development. We have developed a critical mass of housing, indoor and outdoor community space (including Hopes offices and community center), and space for two neighborhood businesses that are changing the face of a formerly devastated neighborhood. In total, Hope has developed 267 units of housing (includes 4 homeownership units and 263 rental apartments - 70% affordable, 30% market rate), 25,000 square feet of retail, office and community space, and 7,500 square feet of urban agriculture space in the blocks around Franklin and Portland. In the fall of 2016, in partnership with Aeon, we completed the first full year of operations at The Rose, a 90-unit mixed-income housing development, that completed the South Quarter on all four corners of the Portland and Franklin intersection. Hope and Aeon co-own all buildings in the South Quarter development: Hope owns another 50 units of rental housing in the immediate area.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,648,909
Liabilities
$2,324,174
Net assets
$6,324,735
Revenue
$1,786,321
Expenses
$2,184,382
Net income
-$398,061
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
2016Detailed filing. Detailed filing data is available for this year.$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
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$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