Civic Intelligence

New Hope Development Services Inc.

990 • Fiscal year 2021 • EIN 82-0818155

Jul 01, 2020 to Jun 30, 2021 • Filed on May 13, 2022

Organization ProfileN/A
725 Wall StreetJeffersonville, IN 47130

(812) 288-8248

Siviq Scores

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

Liabilities / Assets

75th percentile

0.48x

Higher debt load relative to assets than 75% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

86th percentile

1.56x

Higher debt load relative to revenue than 86% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

88th percentile

55%

Higher net margin than 88% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

89th percentile

$429,898

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 13.4% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

90th percentile

50%

Faster asset growth than 90% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

14th percentile

-16%

Faster revenue growth than 14% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets75th percentile

Assets

Up

$10,482,121

Up $3,500,873 (+50%) from 2020

Net Assets

Up

$5,463,126

Up $1,776,190 (+48%) from 2020

Liabilities

Up

$5,018,995

Up $1,724,683 (+52%) from 2020

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin88th percentile

Revenue

Down

$3,214,747

Down $605,261 (-16%) from 2020

Expenses

Up

$1,438,557

Up $470,561 (+49%) from 2020

Net Income

Down

$1,776,190

Down $1,075,822 (-38%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$20M$15M$10M$5.0M$0Assets 2019: $1,316,460Liabilities 2019: $481,536Net Assets 2019: $834,9242019Assets 2020: $6,981,248Liabilities 2020: $3,294,312Net Assets 2020: $3,686,9362020Assets 2021: $10,482,121Liabilities 2021: $5,018,995Net Assets 2021: $5,463,1262021Assets 2022: $12,663,870Liabilities 2022: $7,399,703Net Assets 2022: $5,264,1672022Assets 2023: $14,071,279Liabilities 2023: $7,236,740Net Assets 2023: $6,834,5392023Assets 2024: $15,605,871Liabilities 2024: $6,937,554Net Assets 2024: $8,668,3172024

Highlighted filing

2021

Assets$10,482,121
Liabilities$5,018,995
Net Assets$5,463,126
Open 2021 Filing

Operations Trend

Revenue Growth14th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2019: $884,978Expenses 2019: $50,054Net Income 2019: $834,9242019Revenue 2020: $3,820,008Expenses 2020: $967,996Net Income 2020: $2,852,0122020Revenue 2021: $3,214,747Expenses 2021: $1,438,557Net Income 2021: $1,776,1902021Revenue 2022: $1,071,566Expenses 2022: $1,270,525Net Income 2022: -$198,9592022Revenue 2023: $3,171,921Expenses 2023: $1,601,549Net Income 2023: $1,570,3722023Revenue 2024: $3,208,145Expenses 2024: $1,374,365Net Income 2024: $1,833,7802024

Highlighted filing

2021

Revenue$3,214,747
Expenses$1,438,557
Net Income$1,776,190
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 13, 2022
Return Version
2020v4.2
Gross Receipts
$3,214,747
Mission and Program Overview

Mission

To foster, promote, develop and provide housing that is safe, decent and affordable to low-income and moderate-income individuals and families in the region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,240,581$8,067,176▲ $2,826,595
Accounts Receivable$7,149$1,249,318▲ $1,242,169
Cash and Non-Interest-Bearing Accounts$241,152$707,950▲ $466,798
Pledges and Grants Receivable$723,301$131,537▼ $591,764
Prepaid Expenses and Deferred Charges$13,496$25,498▲ $12,002
Total Assets$6,981,248$10,482,121▲ $3,500,873
Other Assets Total$755,569$300,642▼ $454,927
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,322,691$2,290,109▲ $967,418
Accounts Payable and Accrued Expenses$817,191$1,809,996▲ $992,805
Other Liabilities$1,154,430$918,890▼ $235,540
Total Liabilities$3,294,312$5,018,995▲ $1,724,683
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,088,414$4,974,676▲ $1,886,262
Net Assets Without Donor Restrictions$598,522$488,450▼ $110,072
Total Net Assets Fund Balance$3,686,936$5,463,126▲ $1,776,190
Total Liabilities and Net Assets / Fund Balance$6,981,248$10,482,121▲ $3,500,873

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,441,888$199,926$7,641,814
Land$598,663-$598,663
Equipment$26,625$2,875$29,500
Compensation and Service Providers
Top Officer Pay89th percentile

Board Members and Trustees

NameTitle
John NeaceChair
Barbara Swank-gallegosBoard Member
Sandy RingerBoard Member
Vicky Kent HaireBoard Member
John BroadyAssistant Secretary
Jody HeazlittAssistant Treasurer
James BosleyCEO
Kimberly TungateSecretary
David LewisTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Studio Three ArchitectsEngineering319 BANK STREET, New Albany, IN 47150$309,097
Gordon Lamar BennerArchitecture321 N FRONT ST, Wilmington, NC 28401$281,741
Stephen L HillConstruction6899 NORTH 550 WEST, Bryant, IN 47326$251,913
-Construction Consulting140 E STETSON NO 166, Hemet, CA 92543$151,256
-Construction8900 KEYSTONE CROSSING, Indianapolis, IN 46240$122,700
Revenue and Support

Revenue Composition

Contributions and Grants
$2,256,494
Program Service Revenue
$958,253
Investment Income
$0
Other Revenue
$0
All Other Contributions
$26,929
Change in Net Assets
$1,776,190

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,214,747
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,214,747
Total Revenue per Form 990
$3,214,747
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,008,267
Salaries, Compensation, and Employee Benefits$430,290
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$225,000-$225,000
Current Officers, Directors, Trustees, and Key Employees-$187,369-$187,369
Other Salaries and Wages-$170,373-$170,373
Depreciation Depletion$146,812--$146,812
Interest$44,309$47,784-$92,093
Occupancy$60,704--$60,704
Other Employee Benefits-$48,934-$48,934
All Other Expenses$31,665$9,701-$41,366
Fees for Services Other$38,450--$38,450
Other Expenses$32,549$186,524-$32,549
Payroll Taxes-$23,614-$23,614
Insurance-$15,745-$15,745
Office Expenses-$13,915-$13,915
Fees for Services Accounting-$13,900-$13,900
Fees for Services Legal-$1,659-$1,659
Information Technology-$680-$680
Advertising-$192-$192
Travel-$49-$49
Total Functional Expenses$493,118$945,439$0$1,438,557

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,438,557
Total Expenses per Audited Statements$1,438,557
Total Expenses per Form 990$1,438,557
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to New Hope$825,969
Due to Other Related Parties$59,643
Tenant Security Deposits$22,170
Due to General Partner$11,108
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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
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
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Cfo will review the return before filing.”

Form 990, Part VI, Section B, Line 12C

“Members of the board sign a conflict of interest statement and disclose all known conflicts. Any conflict is documented at the time of occurance and they are required to abstain from voting.”

Form 990, Part VI, Section B, Line 15

“Performed by the executive committee to determine amount of compensation. Reviewed by the direct supervisor to determine compensation. Organization has a pay grade scale in place to help determine compensation.”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
New Hope Development Services Inc
EIN
82-0818155
Phone
8122888248
Address
725 WALL STREET, JEFFERSONVILLE, IN 47130

Signing Officer

Name
James Bosley
Title
CEO
Phone
8122888248
Signed
2022-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Bosley
Formed
2017
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
0

Preparer

Firm
Deming Malone Livesay & Ostroff Psc
Address
301 E ELM STREET, NEW ALBANY, IN 47150
Preparer
Lisa M Newbanks
Phone
8129455236
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed from prior year.”

Financial Statement Notes

PART X, LINE 2:

“The organization is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code. Accordingly, no provision for federal or state income taxes is included in the accompanying financial statements. The organization evaluates its uncertain tax positions in accordance with applicable standards. It has evaluated its tax positions and believes that it has none that are uncertain.”

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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MembersOrStockholdersInd00
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO FOSTER, PROMOTE, DEVELOP AND PROVIDE HOUSING THAT IS SAFE, DECENT AND AFFORDABLE TO LOW-INCOME AND MODERATE-INCOME INDIVIDUALS AND FAMILIES IN THE REGION.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/OccupancyGrp/TotalAmt060704
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IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt0300642
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt048934
IRS990/OtherExpensesGrp/Desc0BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/Desc1RENTAL PROPERTY OPERATI
IRS990/OtherExpensesGrp/Desc2RENTAL PROPERTY ADMINIS
IRS990/OtherExpensesGrp/Desc3TAXES & OTHER INSURANCE
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IRS990/OtherExpensesGrp/ProgramServicesAmt084660
IRS990/OtherExpensesGrp/ProgramServicesAmt153969
IRS990/OtherExpensesGrp/ProgramServicesAmt232549
IRS990/OtherExpensesGrp/TotalAmt0186524
IRS990/OtherExpensesGrp/TotalAmt184660
IRS990/OtherExpensesGrp/TotalAmt253969
IRS990/OtherExpensesGrp/TotalAmt332549
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IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt023614
IRS990/PayrollTaxesGrp/TotalAmt023614
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0131537
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt013496
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt025498
IRS990/PrincipalOfficerNm0JAMES BOSLEY
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IRS990/PYRevenuesLessExpensesAmt02852012
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IRS990/PYTotalExpensesAmt0967996
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03820008
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt01776190
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0958253
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0199926
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt07641814
IRS990ScheduleD/EquipmentGrp/BookValueAmt026625
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02875
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt029500
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0598663
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt259643
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO NEW HOPE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO GENERAL PARTNER
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO OTHER RELATED PARTIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3TENANT SECURITY DEPOSITS
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR FEDERAL OR STATE INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION EVALUATES ITS UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH APPLICABLE STANDARDS. IT HAS EVALUATED ITS TAX POSITIONS AND BELIEVES THAT IT HAS NONE THAT ARE UNCERTAIN.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleJ/AnyNonFixedPaymentsInd00
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0394726
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1211939
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt2203991
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,482,121
Liabilities
$5,018,995
Net assets
$5,463,126
Revenue
$3,214,747
Expenses
$1,438,557
Net income
$1,776,190
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$15.6$6.94$8.67$3.21$1.37$1.83
2023Detailed filing. Detailed filing data is available for this year.$14.1$7.24$6.83$3.17$1.60$1.57
2022Detailed filing. Detailed filing data is available for this year.$12.7$7.40$5.26$1.07$1.27$0.20
2021Detailed filing. Detailed filing data is available for this year.$10.5$5.02$5.46$3.21$1.44$1.78
2020Detailed filing. Detailed filing data is available for this year.$6.98$3.29$3.69$3.82$0.97$2.85
2019Summary only. Only limited summary data is available for this year.$1.32$0.48$0.83$0.88$0.05$0.83