Civic Intelligence

Foundation of Hope Inc

EIN 74-2620908 • 501(c)3 • Taft, TX

Profile

Foundation of Hope, Inc. (the "Organization") is a not-for-profit Corporation organized on December 2, 1991 exclusively for charitable and educational purposes as described in Section 501 (c)(3) of the Internal Revenue Code. The Organization owns a multi-family residential real estate project in Taft, Texas and rents dwellings to certain low-income tenants as required by a Land Use Restriction Agreement with the Texas Department of Housing and Community Affairs.

11011 Rincon RoadTaft, TX 78390

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

96th percentile

1.41x

Higher debt load relative to assets than 96% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

98th percentile

6.90x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

5th percentile

-73%

Higher net margin than 5% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

28th percentile

-4.6%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

28th percentile

-6.4%

Faster revenue growth than 28% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Assets

Down

$936,276

Down $44,793 (-4.6%) from 2015

Liabilities

Up

$1,316,648

Up $94,996 (+7.8%) from 2015

Net Assets

Down

-$380,372

Down $139,789 (-58%) from 2015

Revenue

Down

$190,884

Down $12,961 (-6.4%) from 2015

Expenses

Up

$330,673

Up $117,463 (+55%) from 2015

Net Income

Down

-$139,789

Down $130,424 (-1393%) from 2015

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0-$500KAssets 2010: $1,216,163Liabilities 2010: $1,374,125Net Assets 2010: -$157,9622010Assets 2011: $1,177,517Liabilities 2011: $1,338,722Net Assets 2011: -$161,2052011Assets 2012: $1,122,910Liabilities 2012: $1,297,218Net Assets 2012: -$174,3082012Assets 2013: $1,063,537Liabilities 2013: $1,258,016Net Assets 2013: -$194,4792013Assets 2014: $1,019,318Liabilities 2014: $1,250,536Net Assets 2014: -$231,2182014Assets 2015: $981,069Liabilities 2015: $1,221,652Net Assets 2015: -$240,5832015Assets 2016: $936,276Liabilities 2016: $1,316,648Net Assets 2016: -$380,3722016

Highlighted filing

2016

Assets$936,276
Liabilities$1,316,648
Net Assets-$380,372

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$200K$0-$200KExpenses 2010: $215,1202010Revenue 2011: $188,898Expenses 2011: $192,141Net Income 2011: -$3,2432011Expenses 2012: $201,4182012Revenue 2013: $199,708Expenses 2013: $198,592Net Income 2013: $1,1162013Revenue 2014: $193,113Expenses 2014: $229,851Net Income 2014: -$36,7382014Revenue 2015: $203,845Expenses 2015: $213,210Net Income 2015: -$9,3652015Revenue 2016: $190,884Expenses 2016: $330,673Net Income 2016: -$139,7892016

Highlighted filing

2016

Revenue$190,884
Expenses$330,673
Net Income-$139,789

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 8, 2017
Return Version
2016v3.0
Gross Receipts
$190,884
Mission and Program Overview

Mission

Foundation of Hope, Inc. (the "Organization") is a not-for-profit Corporation organized on December 2, 1991 exclusively for charitable and educational purposes as described in Section 501 (c)(3) of the Internal Revenue Code. The Organization owns a multi-family residential real estate project in Taft, Texas and rents dwellings to certain low-income tenants as required by a Land Use Restriction Agreement with the Texas Department of Housing and Community Affairs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$936,867$900,155▼ $36,712
Cash and Non-Interest-Bearing Accounts$44,202$36,121▼ $8,081
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Rtn Earn Endowment Incm Other Fnds$-240,583$-380,372▼ $139,789
Total Assets$981,069$936,276▼ $44,793
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,203,063$1,298,058▲ $94,995
Other Liabilities$18,589$18,590▲ $1
Total Liabilities$1,221,652$1,316,648▲ $94,996
Net Assets / Fund Balance
Total Net Assets Fund Balance$-240,583$-380,372▼ $139,789
Total Liabilities and Net Assets / Fund Balance$981,069$936,276▼ $44,793

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$882,041$630,033$1,512,074
Land$15,920-$15,920
Equipment$2,191$5,023$7,214
Other Land Buildings$3$415$414
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joseph R Lawless MSFPresident
Laura SbradoVice President
Gardenia FarmerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$190,884
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-139,789
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$330,673
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$37,187$1,957-$39,144
Depreciation Depletion$36,170$1,904-$38,074
Other Expenses$26,378$1,388-$27,766
Fees for Services Management$14,250$750-$15,000
Insurance$14,001$737-$14,738
All Other Expenses$11,216$590-$11,806
Occupancy$3,215$169-$3,384
Office Expenses$2,164$114-$2,278
Advertising$1,072$56-$1,128
Information Technology$634$33-$667
Total Functional Expenses$314,141$16,532$0$330,673
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
Security Deposit Liability$18,589
Rounding$1
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
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

Day to day management of the property and financial transactions has been delegated to REG management.

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

The IRS Form 990 is provided to the Organization's management who reviews return, executes it, and files. it.

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

Compensation decisions are deliberated and made at market values.

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

The Organization's governing docs, policies, and financial information are available for public inspection upon request.

Filing and Contact Details

Filer

Filer Name
Foundation of Hope Inc
EIN
74-2620908
Phone
3615284731
Address
11011 Rincon Road, Taft, TX 78390

Signing Officer

Name
Ruben Garza
Title
Management Agent
Signed
2017-11-08
Discuss with paid preparer
Yes

Organization Details

Formed
1991
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
1

Preparer

Firm
Aaron W GamesCPA PLLC
Address
7000 N Mopac Exwy Ste 200, Austin, TX 78731
Preparer
Aaron Games
Phone
5122580555
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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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Security Deposit Liability
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0900155
IRS990ScheduleD/TotalLiabilityAmt018590
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Day to day management of the property and financial transactions has been delegated to REG management.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The IRS Form 990 is provided to the Organization's management who reviews return, executes it, and files. it.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Compensation decisions are deliberated and made at market values.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization's governing docs, policies, and financial information are available for public inspection upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0981069
IRS990/TotalAssetsEOYAmt0936276
IRS990/TotalAssetsGrp/BOYAmt0981069
IRS990/TotalAssetsGrp/EOYAmt0936276
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016532
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0314141
IRS990/TotalFunctionalExpensesGrp/TotalAmt0330673
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01221652
IRS990/TotalLiabilitiesEOYAmt01316648
IRS990/TotalLiabilitiesGrp/BOYAmt01221652
IRS990/TotalLiabilitiesGrp/EOYAmt01316648
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-240583
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-380372
IRS990/TotalProgramServiceExpensesAmt0314141
IRS990/TotalProgramServiceRevenueAmt0190884
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0190884
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0190884
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0981069
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0936276
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Ruben Garza
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Management Agent
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Foundation of Hope Inc
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0742620908
ReturnHeader/Filer/PhoneNum03615284731
ReturnHeader/Filer/USAddress/AddressLine1Txt011011 Rincon Road
ReturnHeader/Filer/USAddress/CityNm0Taft
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd078390
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Aaron W GamesCPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07000 N Mopac Exwy Ste 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Austin
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd078731
ReturnHeader/PreparerPersonGrp/PhoneNum05122580555
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Aaron Games
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02017-11-08T14:18:50-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

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