Civic Intelligence

Hard Bargain Mt. Hope Redevelopment Inc.

990 • Fiscal year 2021 • EIN 83-0411768

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 17, 2022

Organization ProfileWWW.HARDBARGAIN.ORG
PO Box 545Franklin, TN 37065

(615) 591-0504

Siviq Scores

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

Liabilities / Assets

86th percentile

0.58x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

95th percentile

3.90x

Higher debt load relative to revenue than 95% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

9th percentile

-26%

Higher net margin than 9% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

61st percentile

$80,798

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 31.2% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

15th percentile

-3.8%

Faster asset growth than 15% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

27th percentile

-3.6%

Faster revenue growth than 27% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$1,741,165

Down $68,347 (-3.8%) from 2020

Net Assets

Down

$732,110

Down $67,940 (-8.5%) from 2020

Liabilities

Down

$1,009,055

Down $407 (-0.0%) from 2020

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin9th percentile

Revenue

Down

$258,580

Down $9,584 (-3.6%) from 2020

Expenses

Up

$326,520

Up $37,949 (+13%) from 2020

Net Income

Down

-$67,940

Down $47,533 (-233%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $421,230Liabilities 2011: $162,721Net Assets 2011: $258,5092011Assets 2012: $399,188Liabilities 2012: $87,229Net Assets 2012: $311,9592012Assets 2013: $411,294Liabilities 2013: $96,108Net Assets 2013: $315,1862013Assets 2014: $606,595Liabilities 2014: $225,674Net Assets 2014: $380,9212014Assets 2015: $669,557Liabilities 2015: $60,600Net Assets 2015: $608,9572015Assets 2016: $1,924,284Liabilities 2016: $1,262,126Net Assets 2016: $662,1582016Assets 2017: $1,597,978Liabilities 2017: $1,008,972Net Assets 2017: $589,0062017Assets 2018: $1,649,880Liabilities 2018: $1,006,620Net Assets 2018: $643,2602018Assets 2019: $1,828,525Liabilities 2019: $1,008,068Net Assets 2019: $820,4572019Assets 2020: $1,809,512Liabilities 2020: $1,009,462Net Assets 2020: $800,0502020Assets 2021: $1,741,165Liabilities 2021: $1,009,055Net Assets 2021: $732,1102021Assets 2022: $1,812,865Liabilities 2022: $1,024,680Net Assets 2022: $788,1852022Assets 2023: $1,996,908Liabilities 2023: $1,030,633Net Assets 2023: $966,2752023Assets 2024: $2,126,702Liabilities 2024: $1,032,061Net Assets 2024: $1,094,6412024

Highlighted filing

2021

Assets$1,741,165
Liabilities$1,009,055
Net Assets$732,110
Open 2021 Filing

Operations Trend

Revenue Growth27th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $252,694Expenses 2011: $178,024Net Income 2011: $74,6702011Expenses 2012: $270,8452012Revenue 2013: $207,277Expenses 2013: $204,053Net Income 2013: $3,2242013Revenue 2014: $242,500Expenses 2014: $176,765Net Income 2014: $65,7352014Revenue 2015: $387,141Expenses 2015: $159,105Net Income 2015: $228,0362015Revenue 2016: $196,110Expenses 2016: $155,910Net Income 2016: $40,2002016Revenue 2017: $191,137Expenses 2017: $266,742Net Income 2017: -$75,6052017Revenue 2018: $279,389Expenses 2018: $228,875Net Income 2018: $50,5142018Revenue 2019: $241,860Expenses 2019: $229,353Net Income 2019: $12,5072019Revenue 2020: $268,164Expenses 2020: $288,571Net Income 2020: -$20,4072020Revenue 2021: $258,580Expenses 2021: $326,520Net Income 2021: -$67,9402021Revenue 2022: $590,745Expenses 2022: $534,670Net Income 2022: $56,0752022Revenue 2023: $611,419Expenses 2023: $433,329Net Income 2023: $178,0902023Revenue 2024: $653,423Expenses 2024: $525,057Net Income 2024: $128,3662024

Highlighted filing

2021

Revenue$258,580
Expenses$326,520
Net Income-$67,940
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 17, 2022
Return Version
2021v4.0
Gross Receipts
$285,410
Mission and Program Overview

Mission

To impact lives and preserve the hard bargain neighborhood by rehabbing existing homes, building quality affordable housing and enriching the lives of our neighbors.

The mission of hard bargain association is to preserve the historic hard bargain neighborhood by renovating existing homes, building high quality affordable housing, and enriching the lives of our neighbors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,142,046$910,619▼ $231,427
Savings and Temporary Cash Investments$263,851$331,956▲ $68,105
Inventories for Sale or Use$120,055$251,750▲ $131,695
Other Notes and Loans Receivable, Net$100,719$93,621▼ $7,098
Receivables From Officers Etc$98,774$92,097▼ $6,677
Accounts Receivable$46,000$30,440▼ $15,560
Land, Buildings, and Equipment, Net$35,795$28,847▼ $6,948
Receivable From Disqualified Prsn$1,171$1,767▲ $596
Prepaid Expenses and Deferred Charges$1,101$68▼ $1,033
Total Assets$1,809,512$1,741,165▼ $68,347
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,000,000$1,000,000→ $0
Accounts Payable and Accrued Expenses$6,962$9,055▲ $2,093
Deferred Revenue$2,500--
Total Liabilities$1,009,462$1,009,055▼ $407
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$737,850$673,540▼ $64,310
Net Assets With Donor Restrictions$62,200$58,570▼ $3,630
Total Net Assets Fund Balance$800,050$732,110▼ $67,940
Total Liabilities and Net Assets / Fund Balance$1,809,512$1,741,165▼ $68,347

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$3,498$56,481$59,979
Land$22,500-$22,500
Equipment$2,849$4,625$7,474
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Derrick SolomonExecutive DiFT$75,200$5,598$80,798

Board Members and Trustees

NameTitle
Denise CarothersPresident
Angela FlemingDirector
David CraneDirector
Howard Sonny KeltonDirector
John MurphyDirector
Johnnie HamiltonDirector
Keith DavisDirector
Mort SteinDirector
Pam LewisDirector
Mirella NeelySecretary
Ken FarmerTreasurer
Janet Mayberry WalesVice Pres.
Revenue and Support

Revenue Composition

Contributions and Grants
$237,352
Program Service Revenue
$12,300
Investment Income
$7,219
Other Revenue
$1,709
All Other Contributions
$168,365
Change in Net Assets
$-67,940

Audited Revenue Reconciliation

Revenue per Audited Statements
$258,580
Revenue Not Reported on Form 990
$73,418
Total Revenue per Audited Statements
$331,998
Total Revenue per Form 990
$258,580
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$158,686
Other Expenses$118,770
Grants and Similar Amounts Paid$49,064
Total Fundraising Expense$37,898
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$47,163$14,055$19,580$80,798
Other Salaries and Wages$5,786$57,863$643$64,292
Grants to Domestic Individuals$49,064--$49,064
Office Expenses$16,809$4,168$9,108$30,085
Occupancy$24,563$511$510$25,584
Fees for Services Other$6,000$10,300-$16,300
Fees for Services Accounting$5,973$7,467$1,493$14,933
Payroll Taxes$3,883$5,274$1,483$10,640
Conferences and Meetings$6,661-$2,067$8,728
Insurance$5,850$474$789$7,113
Depreciation Depletion$6,601$347-$6,948
Travel$5,973-$160$6,133
Other Employee Benefits$1,079$1,465$412$2,956
Advertising--$1,504$1,504
Information Technology$1,293-$149$1,442
Total Functional Expenses$186,698$101,924$37,898$326,520

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$399,938
Expenses per Audited Statements$326,520
Total Expenses per Form 990$326,520
Expenses Not Reported on Form 990$73,418
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$28,310
Fundraising Direct Expenses$26,830
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Dinner$39,337$28,310$5,232$23,078
Total Events$39,337$28,310$26,830$1,480
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 Officers, Directors, Trustees, and Key Employees$98,774$92,097▼ $6,677
Receivables from Disqualified Persons$1,171$1,767▲ $596
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, Page 6, Part VI, Line 8B

“Board committee meetings are not documented.”

Form 990, Page 6, Part VI, Line 11B

“The form 990 is to be reviewed by the controller, executive director, and executive committee, which includes the treasurer and the finance committee. The treasurer presents the 990 to the entire board.”

Form 990, Page 6, Part VI, Line 12C

“Officers and directors are required to disclose conflicts of interest. If the governing board or committee has reasonable cause to believe a member has failed to disclose actual or possible conflicts of interest, it shall inform the member of the basis for such belief and afford the member an opportunity to explain the alleged failure to disclose. If, after hearing the member's response and after making further investigation as warranted by the circumstances, the governing board or committee determines the member has failed to disclose an actual or possible conflict of interest, it shall take appropriate disciplinary and corrective action.”

Form 990, Page 6, Part VI, Line 15A

“The executive director and other management compensation is subject to review and approval by the board of directors.”

Form 990, Page 6, Part VI, Line 15B

“Other officers and key employees' compensation is subject to review and approval by the board of directors.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Hard Bargain Mt Hope
EIN
83-0411768
Phone
6155910504
Address
PO BOX 545, FRANKLIN, TN 37065
Doing Business As
Hard Bargain Association

Signing Officer

Name
Derrick Solomon
Title
Executive Director
Phone
6155910504
Signed
2022-08-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Derrick Solomon
Formed
2004
Legal Domicile
Tn
Voting Board Members
12
Independent Board Members
9
Employees
3
Volunteers
313

Preparer

Firm
Blankenship CPA Group Pllc
Address
215 WARD CIRCLE, BRENTWOOD, TN 37027-2304
Preparer
Abigail L Campbell CPA
Phone
6153733771
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Direct event expenses 26,830 direct event expenses -26,830”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization is a not-for-profit organization that is exempt from income taxes under section 501(c)(3) of the internal revenue code except on net income derived from unrelated business activities. Accordingly, no provision for income tax has been made. Us gaap requires the organization's management to evaluate tax positions taken by the organization and recognize a tax liability (or an asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examinations by the internal revenue service. Management has analyzed the tax positions of the organization and has concluded that, as of december 31, 2021, no uncertain positions have been taken or are expected to be taken that would require recognition of a liability (or an asset) or disclosure in the financial statements. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The organization is no longer subject to routine audits by taxing jurisdictions for any tax periods before 2018.”

Schedule D, Page 4, Part XI, Line 2D

“Direct event expenses 26,830”

Schedule D, Page 4, Part XII, Line 2D

“Direct event expenses 26,830”

Raw XML AppendixShowing 400 of 586 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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IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE PRES.
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
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IRS990/MissionDesc0THE MISSION OF HARD BARGAIN ASSOCIATION IS TO PRESERVE THE HISTORIC HARD BARGAIN NEIGHBORHOOD BY RENOVATING EXISTING HOMES, BUILDING HIGH QUALITY AFFORDABLE HOUSING, AND ENRICHING THE LIVES OF OUR NEIGHBORS.
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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 EXCEPT ON NET INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES. ACCORDINGLY, NO PROVISION FOR INCOME TAX HAS BEEN MADE. US GAAP REQUIRES THE ORGANIZATION'S MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY (OR AN ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATIONS BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS ANALYZED THE TAX POSITIONS OF THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2021, NO UNCERTAIN POSITIONS HAVE BEEN TAKEN OR ARE EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR AN ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE ORGANIZATION IS NO LONGER SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS FOR ANY TAX PERIODS BEFORE 2018.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DIRECT EVENT EXPENSES 26,830
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2DIRECT EVENT EXPENSES 26,830
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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Filings

Displayed year

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

Open filing
Assets
$1,741,165
Liabilities
$1,009,055
Net assets
$732,110
Revenue
$258,580
Expenses
$326,520
Net income
-$67,940
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.13$1.03$1.09$0.65$0.53$0.13
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.00$1.03$0.97$0.61$0.43$0.18
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.81$1.02$0.79$0.59$0.53$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.74$1.01$0.73$0.26$0.33$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.81$1.01$0.80$0.27$0.29$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.83$1.01$0.82$0.24$0.23$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.65$1.01$0.64$0.28$0.23$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.60$1.01$0.59$0.19$0.27$0.08
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.92$1.26$0.66$0.20$0.16$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.67$0.06$0.61$0.39$0.16$0.23
2014Detailed filing. Detailed filing data is available for this year.$0.61$0.23$0.38$0.24$0.18$0.07
2013Detailed filing. Detailed filing data is available for this year.$0.41$0.10$0.32$0.21$0.20$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.40$0.09$0.31$0.27
2011Summary only. Only limited summary data is available for this year.$0.42$0.16$0.26$0.25$0.18$0.07