Civic Intelligence

Hoap Inc.

990EZ • Fiscal year 2023 • EIN 46-2795794

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 31, 2024

PO Box 8473Grand Rapids, MI 49518-8473

(616) 635-0302

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.13x

Higher debt load relative to assets than 82% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

72nd percentile

0.02x

Higher debt load relative to revenue than 72% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

34th percentile

-4.3%

Higher net margin than 34% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

15th percentile

-37%

Faster asset growth than 15% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

69th percentile

25%

Faster revenue growth than 69% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$18,907

Down $10,984 (-37%) from 2022

Net Assets

Down

$16,410

Down $5,584 (-25%) from 2022

Liabilities

Down

$2,497

Down $5,400 (-68%) from 2022

Revenue

Up

$119,983

Up $23,977 (+25%) from 2022

Expenses

Up

$125,106

Up $56,310 (+82%) from 2022

Net Income

Down

-$5,123

Down $32,333 (-119%) from 2022

Historical Trend

Balance Sheet Trend

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

$30K$20K$10K$0Assets 2021: $26,105Net Assets 2021: $26,1052021Assets 2022: $29,891Liabilities 2022: $7,897Net Assets 2022: $21,9942022Assets 2023: $18,907Liabilities 2023: $2,497Net Assets 2023: $16,4102023Assets 2024: $16,414Liabilities 2024: $2,328Net Assets 2024: $14,0862024

Highlighted filing

2023

Assets$18,907
Liabilities$2,497
Net Assets$16,410

Operations Trend

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

$150K$100K$50K$0-$50KRevenue 2021: $73,855Expenses 2021: $63,146Net Income 2021: $10,7092021Revenue 2022: $96,006Expenses 2022: $68,796Net Income 2022: $27,2102022Revenue 2023: $119,983Expenses 2023: $125,106Net Income 2023: -$5,1232023Revenue 2024: $131,603Expenses 2024: $134,098Net Income 2024: -$2,4952024

Highlighted filing

2023

Revenue$119,983
Expenses$125,106
Net Income-$5,123
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 31, 2024
Return Version
2023v5.1
Gross Receipts
$119,983
Mission and Program Overview

Mission

Provide housing for young mothers

SEE SCHEDULE 0

Program Services

DescriptionGrantsExpenses
SEE SCHEDULE 0--
SEE SCHEDULE 0--
SEE SCHEDULE 0--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
LAKESHIA GILBERTPresidentPT$0--
Latricia LomaxVice-PresidentPT$0--
Summer ThompsonTreasurerPT$0--
Trinity ClemonsBoard MemberPT$0--
Tija MatthewsBoard MemberPT$0--
Ardrace MorrisBoard MemberPT$0--
Latasha WallaceBoard MemberPT$0--
Filing and Contact Details

Filer

Filer Name
Hoap Inc
EIN
46-2795794
Address
PO BOX 8473, Grand Rapids, MI 49518-8473

Signing Officer

Name
Lakeshia Gilbert
Title
President
Signed
2024-07-31
Discuss with paid preparer
No

Preparer

Firm
Tim Berghuis Accountant
Address
345 BENJAMIN SE, Grand Rapids, MI 49506
Preparer
Tim Berghuis
Phone
6166350302
Supplemental Narrative

Additional Explanations

General explanation attachment

PRIMARY EXEMPT PURPOSE: Our mission is to educate, empower, and nurture underserved youth and adolescents including young mothers (mothers-to-be). 1. In 2023 we served 20 single families that consists of young mothers ages 18-24 through our Parentpreneuer program which helps prepare the mothers for the pathway to permanent housing by educating and equipping each one with the necessary skills and staunch support to sustain stable housing and increase thier physical, social and emothional well-being to break the cycles of poverty-stricken lifestyles. With the support from these funds we were able to provide the following:- 528 hours of advoacy- 12 Empowering Educaitonal Workshops- 30k Miles of transportatio support 2. The support of the MSNA funds helped HOAP to overcome some of our financial challenges experienced as a result of the pandemic and also positioned the organization to increase capacity. 3. These funds helped HOAP provide basic essential needs. In 2023 we supported 20 single families and provided back to school basic essentials to 100 students.

Description of other expenses Part I line 16

Description AmountBank Fees 540Miscellaneous Business Expenses 2,646Program Expenses 68,584Operations 125Books, Subscp & Reference 1,757Supplies 183Fundraiser Exp 219Donations 100Professional Develop 3,413Office Supplies & Software 4,662Telephone 1,177Travel & Meetings 1,041Travel 87Advertising & Marketing 915Bank Charges & Fees 4Lodging 1,255Meals 983

Description of other assets Part II line 24

Category Beginning of Year End of YearFURNITURE AND EQUIPMENT 377 377

Description of total liabilities Part II line 26

Category Beginning of Year End of YearLONG TERM LOAN 0 2,497

Raw XML Appendix158 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRIMARY EXEMPT PURPOSE: Our mission is to educate, empower, and nurture underserved youth and adolescents including young mothers (mothers-to-be). 1. In 2023 we served 20 single families that consists of young mothers ages 18-24 through our Parentpreneuer program which helps prepare the mothers for the pathway to permanent housing by educating and equipping each one with the necessary skills and staunch support to sustain stable housing and increase thier physical, social and emothional well-being to break the cycles of poverty-stricken lifestyles. With the support from these funds we were able to provide the following:- 528 hours of advoacy- 12 Empowering Educaitonal Workshops- 30k Miles of transportatio support 2. The support of the MSNA funds helped HOAP to overcome some of our financial challenges experienced as a result of the pandemic and also positioned the organization to increase capacity. 3. These funds helped HOAP provide basic essential needs. In 2023 we supported 20 single families and provided back to school basic essentials to 100 students.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Description AmountBank Fees 540Miscellaneous Business Expenses 2,646Program Expenses 68,584Operations 125Books, Subscp & Reference 1,757Supplies 183Fundraiser Exp 219Donations 100Professional Develop 3,413Office Supplies & Software 4,662Telephone 1,177Travel & Meetings 1,041Travel 87Advertising & Marketing 915Bank Charges & Fees 4Lodging 1,255Meals 983
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Category Beginning of Year End of YearFURNITURE AND EQUIPMENT 377 377
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Category Beginning of Year End of YearLONG TERM LOAN 0 2,497
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0General explanation attachment
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Description of other expenses Part I line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Description of other assets Part II line 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Description of total liabilities Part II line 26
ReturnHeader/BuildTS02024-08-08 14:25:15Z
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ReturnHeader/Filer/EIN0462795794
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ReturnHeader/ReturnTs02024-08-01T16:12:25-04:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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