Civic Intelligence

Hope Communities Inc.

990 • Fiscal year 2014 • EIN 84-0829068

Jan 01, 2014 to Dec 31, 2014 • Filed on May 14, 2015

2543 California StreetDenver, CO 80205

(303) 860-7747

Siviq Scores

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

Liabilities / Assets

64th percentile

0.35x

Higher debt load relative to assets than 64% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

91st percentile

3.21x

Higher debt load relative to revenue than 91% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

84th percentile

29%

Higher net margin than 84% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

47th percentile

$111,340

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 14.8% of source-year revenue.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

85th percentile

21%

Faster asset growth than 85% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

85th percentile

34%

Faster revenue growth than 85% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Assets

Up

$6,919,218

Up $1,212,440 (+21%) from 2013

Net Assets

Down

$4,509,186

Down $747,823 (-14%) from 2013

Liabilities

Up

$2,410,032

Up $1,960,263 (+436%) from 2013

Revenue

Up

$751,162

Up $188,766 (+34%) from 2013

Expenses

Down

$530,492

Down $61,640 (-10%) from 2013

Net Income

Up

$220,670

Up $250,406 (+842%) from 2013

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2010: $9,355,906Liabilities 2010: $5,229,351Net Assets 2010: $4,126,5552010Assets 2011: $10,204,927Liabilities 2011: $4,537,598Net Assets 2011: $5,667,3292011Assets 2012: $9,617,087Liabilities 2012: $4,330,342Net Assets 2012: $5,286,7452012Assets 2013: $5,706,778Liabilities 2013: $449,769Net Assets 2013: $5,257,0092013Assets 2014: $6,919,218Liabilities 2014: $2,410,032Net Assets 2014: $4,509,1862014Assets 2015: $6,882,412Liabilities 2015: $2,642,421Net Assets 2015: $4,239,9912015Assets 2016: $6,745,253Liabilities 2016: $2,195,683Net Assets 2016: $4,549,5702016Assets 2017: $6,599,682Liabilities 2017: $1,856,645Net Assets 2017: $4,743,0372017Assets 2018: $6,881,111Liabilities 2018: $1,224,095Net Assets 2018: $5,657,0162018Assets 2019: $6,904,056Liabilities 2019: $1,108,509Net Assets 2019: $5,795,5472019Assets 2020: $11,416,629Liabilities 2020: $4,857,883Net Assets 2020: $6,558,7462020Assets 2021: $12,245,923Liabilities 2021: $4,092,634Net Assets 2021: $8,153,2892021Assets 2022: $17,412,682Liabilities 2022: $9,428,486Net Assets 2022: $7,984,1962022Assets 2023: $16,377,778Liabilities 2023: $9,337,904Net Assets 2023: $7,039,8742023Assets 2024: $15,686,508Liabilities 2024: $9,067,043Net Assets 2024: $6,619,4652024

Highlighted filing

2014

Assets$6,919,218
Liabilities$2,410,032
Net Assets$4,509,186

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,462,1312010Expenses 2011: $486,6772011Expenses 2012: $1,023,6652012Revenue 2013: $562,396Expenses 2013: $592,132Net Income 2013: -$29,7362013Revenue 2014: $751,162Expenses 2014: $530,492Net Income 2014: $220,6702014Revenue 2015: $2,185,494Expenses 2015: $1,425,609Net Income 2015: $759,8852015Revenue 2016: $1,601,624Expenses 2016: $1,292,086Net Income 2016: $309,5382016Revenue 2017: $1,763,594Expenses 2017: $1,570,262Net Income 2017: $193,3322017Revenue 2018: $2,306,177Expenses 2018: $1,392,205Net Income 2018: $913,9722018Revenue 2019: $2,129,276Expenses 2019: $2,125,572Net Income 2019: $3,7042019Revenue 2020: $2,948,621Expenses 2020: $2,484,777Net Income 2020: $463,8442020Revenue 2021: $4,356,175Expenses 2021: $2,822,143Net Income 2021: $1,534,0322021Revenue 2022: $4,216,894Expenses 2022: $4,896,663Net Income 2022: -$679,7692022Revenue 2023: $4,617,030Expenses 2023: $5,601,408Net Income 2023: -$984,3782023Revenue 2024: $5,769,789Expenses 2024: $6,225,183Net Income 2024: -$455,3942024

Highlighted filing

2014

Revenue$751,162
Expenses$530,492
Net Income$220,670
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 14, 2015
Return Version
2014v5.0
Gross Receipts
$1,543,495
Mission and Program Overview

Mission

We strengthen communities and provide pathways to economic and personal opportunity through affordable housing, educational programs and support services.

Create diverse, healthy communities through quality, service enriched, affordable housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$14,485,616$13,952,876▼ $532,740
Cash and Non-Interest-Bearing Accounts$2,021,078$2,187,693▲ $166,615
Savings and Temporary Cash Investments$770,210$1,498,216▲ $728,006
Accounts Receivable$59,635$120,856▲ $61,221
Intangible Assets$56,306$83,798▲ $27,492
Prepaid Expenses and Deferred Charges$38,714$41,924▲ $3,210
Other Notes and Loans Receivable, Net$28,527$27,915▼ $612
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-
Inventories for Sale or Use-$0-
Total Assets$5,706,778$6,919,218▲ $1,212,440
Other Assets Total$-11,753,308$-10,994,060▲ $759,248
Liabilities
Mortgage Notes Payable Secured by Investment Property$9,949,304$10,690,333▲ $741,029
Accounts Payable and Accrued Expenses$364,705$369,712▲ $5,007
Other Liabilities$-9,864,240$-8,650,013▲ $1,214,227
Total Liabilities$449,769$2,410,032▲ $1,960,263
Net Assets / Fund Balance
Unrestricted Net Assets$4,832,009$4,084,186▼ $747,823
Temporarily Rstr Net Assets$425,000$425,000→ $0
Total Net Assets Fund Balance$5,257,009$4,509,186▼ $747,823
Total Liabilities and Net Assets / Fund Balance$5,706,778$6,919,218▲ $1,212,440

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,070,106$7,110,621$19,180,727
Land$1,527,975-$1,527,975
Other Land Buildings$354,795$401,482$756,277
Equipment-$22,793$22,793
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Larry FullertonExecutive DirectorFT$110,000$1,340$111,340

Board Members and Trustees

NameTitle
Rob ChaneyPresident
Jennifer K BalkcomVice President
Beth SandBoard Member
Bob MunroeBoard Member
Brian WindleyBoard Member
Bryan SlekesBoard Member
Tom LucasBoard Member
Y Melinda PasquiniBoard Member
E Dean Brown JrTreas/Sec
Revenue and Support

Revenue Composition

Contributions and Grants
$133,903
Program Service Revenue
$0
Investment Income
$5,399
Other Revenue
$611,860
All Other Contributions
$133,903
Change in Net Assets
$220,670

Audited Revenue Reconciliation

Revenue per Audited Statements
$751,162
Revenue Not Reported on Form 990
$1,421,172
Total Revenue per Audited Statements
$2,172,334
Total Revenue per Form 990
$751,162
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$334,457
Salaries, Compensation, and Employee Benefits$196,035
Total Fundraising Expense$66,978
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$544,392$96,605-$640,997
Interest$243,691$46,417-$290,108
Occupancy$258,334$12,375-$270,709
Insurance$158,007$74,332-$232,339
Current Officers, Directors, Trustees, and Key Employees$92,413$17,814$1,113$111,340
Other Salaries and Wages$37,321$2,471$44,903$84,695
Other Expenses$57,709$124,052-$57,709
Fees for Services Other$52,137$231-$52,368
Advertising$714-$45,193$45,907
All Other Expenses$-1,858,932$-82,148$-24,231$-1,965,311
Total Functional Expenses$160,592$302,922$66,978$530,492

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,466,245
Expenses Not Reported on Form 990$1,935,753
Expenses per Audited Statements$530,492
Total Expenses per Form 990$530,492
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 Deposits$133,766
Related Party Payable$45,571
Noncontrolling Interest$-8,829,350
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

The Finance Committee members and Executive Director individually review the completed Form 990, then review the document together with Haynie and Company, CPAs, the preparer. The Finance committee recommends the Form 990 for acceptance to the Board of Directors.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Each individual is asked to sign the conflict of interest policy annually. It is regularly reviewed by the Board of Directors and the Executive Director for any conflicts.

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

All documents which are open to the public disclosure rules are made available upon request.

Filing and Contact Details

Filer

Filer Name
Hope Communities Inc
EIN
84-0829068
Phone
3038607747
Address
2543 CALIFORNIA STREET, DENVER, CO 80205

Signing Officer

Name
Larry Fullerton
Title
Executive Director
Signed
2015-05-14
Discuss with paid preparer
Yes

Organization Details

Formed
1980
Legal Domicile
Co
Voting Board Members
9
Independent Board Members
9
Employees
20
Volunteers
250

Preparer

Firm
Haynie and Company Cpas
Address
1785 West 2300 South, Salt Lake City, UT 84119-2065
Preparer
Gregory W Doebler CPA
Phone
8019724800
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

Denver Revitalization PSP VIIII non-controlling interest = -$0

Other Changes In Net Assets Or Fund Balances - Other Decreases

net liabilities acquired by Hope Communities = -$968493

Detail of non controlling interest adjustments

Hidden Brook Welton Eliminations TotalsTotalRevenue 1,105,383 315,789 1,421,172 Reported Part VIII, Line 11bTotalExpenses 1,457,661 478,272180 1,935,753 Reported Part IX, Line 24eNet Income/(Loss) (352,278) (162,483) 180 (514,581) Assets 7,414,163 3,579,717 180 10,994,060 Reported Part X, Line 15bLiab 4,633,251 4,196,099 8,829,350 Reported Sch D, Pt X, Line 2Net 2,780,912 (616,382) 180 2,164,710 Unrestricted Assets-Non controlling int per F/S 2,229,972 Net adjustment from above (2,164,710)Net Unrestricted Assets-Non controlling entities 65,262

Financial Statement Notes

Part X : FIN48 Footnote

Hope is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and a similar provision of state law. However, Hope is subject to federal income tax on any unrelated business taxable income. Hope files tax returns in the U.S. federal jurisdiction. Hope has support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. Tax years that remain subject to examination are years 2011 and forward.Hope's for-profit subsidiaries are subject to federal and state income taxes at the applicable corporate rates.Hope's variable interest entities are not directly subject to income taxes under the provisions of the Internal Revenue Code and applicable state laws. Therefore, taxable income or loss is reported to the individual members/partners for inclusion in their respective tax returns and no provision for federal and state income taxes has been included in the accompanying financial statements.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Non controlling interest-see Sch O $1421172

Part XII, Line 2D: Other expenses and losses per audited F/S

Non controlling interests-See Sch O $1935753

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IRS990/MissionDesc0CREATE DIVERSE, HEALTHY COMMUNITIES THROUGH QUALITY, SERVICE ENRICHED, AFFORDABLE HOUSING.
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IRS990/OtherExpensesGrp/Desc3RESIDENT PROGRAMS
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IRS990/ProgSrvcAccomActy2Grp/Desc0Real Estate Development, Creating additional affordable housingDuring Hope's thirty-five year history, it has developed several hundred units of housing for low-income families. Hope has purchased apartment buildings, renovated them, retaining some as rental apartments, and selling some as owner-occupied housing. Hope has also used both the 9% and 4% Low Income Housing Tax Credit (LIHTC) programs to develop new housing, including The Point, $12M mixed-use, mixed-income TOD project on Denver's Light Rail line, and a major upgrade/rehab of Hidden Brook, a 130-unit apartment property in East Denver.Hope has also purchased and renovated single-family houses from HUD, renovating them and selling them to low-income families. Recently, Hope constructed ten new single-family homes and sold them to low-income buyers. Hope continues to provide technical assistance to the homeowners on the ten Adams Street properties. Hope offers its assistance to this group, all of whom are first-time homeowners. Hope has advised on capital improvements, and budgets for replacement reserves to preserve and protect the value of the property. Hope purchased an empty, dilapidated multi-family building in Denver's Historic Curtis Park neighborhood near downtown, and renovated it into a spectacular combination headquarters office building for Hope, and community center to serve the neighborhood, employing Historic Tax Credits and New Market Tax Credits. Hope continues to work closely with Historic Denver, Inc., the local group which monitors compliance with Historic Tax Credits for this property. Historic Denver performs an annual inspection of the property, and reports to Hope. Hope then performs any necessary repair and maintenance work required to maintain compliance with the Guidelines of the Secretary of the Interior for Historic Preservation.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$15.7$9.07$6.62$5.77$6.23$0.46
2023Detailed filing. Detailed filing data is available for this year.$16.4$9.34$7.04$4.62$5.60$0.98
2022Detailed filing. Detailed filing data is available for this year.$17.4$9.43$7.98$4.22$4.90$0.68
2021Detailed filing. Detailed filing data is available for this year.$12.2$4.09$8.15$4.36$2.82$1.53
2020Detailed filing. Detailed filing data is available for this year.$11.4$4.86$6.56$2.95$2.48$0.46
2019Detailed filing. Detailed filing data is available for this year.$6.90$1.11$5.80$2.13$2.13$0.00
2018Detailed filing. Detailed filing data is available for this year.$6.88$1.22$5.66$2.31$1.39$0.91
2017Detailed filing. Detailed filing data is available for this year.$6.60$1.86$4.74$1.76$1.57$0.19
2016Detailed filing. Detailed filing data is available for this year.$6.75$2.20$4.55$1.60$1.29$0.31
2015Detailed filing. Detailed filing data is available for this year.$6.88$2.64$4.24$2.19$1.43$0.76
2014Detailed filing. Detailed filing data is available for this year.$6.92$2.41$4.51$0.75$0.53$0.22
2013Detailed filing. Detailed filing data is available for this year.$5.71$0.45$5.26$0.56$0.59$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.62$4.33$5.29$1.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.2$4.54$5.67$0.49
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.36$5.23$4.13$1.46