Civic Intelligence

Hope Chicago Inc.

990 • Fiscal year 2021 • EIN 86-2828908

Mar 10, 2021 to Jun 30, 2021 • Filed on May 12, 2022

Organization ProfileWWW.HOPECHICAGO.ORG
303 E Wacker Dr No 2109Chicago, IL 60601

(312) 477-3710

Siviq Scores

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

Liabilities / Assets

14th percentile

0.01x

Higher debt load relative to assets than 14% of similar nonprofits.

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

Liabilities / Revenue

9th percentile

0.01x

Higher debt load relative to revenue than 9% of similar nonprofits.

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

Net Margin

99th percentile

98%

Higher net margin than 99% of similar nonprofits.

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

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

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

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets14th percentile

Assets

$10,218,505

No earlier filing loaded for comparison.

Net Assets

$10,147,247

No earlier filing loaded for comparison.

Liabilities

$71,258

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue9th percentileNet Margin99th percentile

Revenue

$10,363,221

No earlier filing loaded for comparison.

Expenses

$215,974

No earlier filing loaded for comparison.

Net Income

$10,147,247

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$40M$30M$20M$10M$0Assets 2021: $10,218,505Liabilities 2021: $71,258Net Assets 2021: $10,147,2472021Assets 2022: $32,142,541Liabilities 2022: $167,089Net Assets 2022: $31,975,4522022

Highlighted filing

2021

Assets$10,218,505
Liabilities$71,258
Net Assets$10,147,247
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$30M$20M$10M$0Revenue 2021: $10,363,221Expenses 2021: $215,974Net Income 2021: $10,147,2472021Revenue 2022: $25,597,442Expenses 2022: $3,747,347Net Income 2022: $21,850,0952022

Highlighted filing

2021

Revenue$10,363,221
Expenses$215,974
Net Income$10,147,247
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Mar 10, 2021 to Jun 30, 2021
Signed
May 12, 2022
Return Version
2020v4.2
Gross Receipts
$10,363,221
Mission and Program Overview

Mission

Hope chicago's mission is to eliminate barriers to educational and economic equity by providing access to debt-free postsecondary education to tens of thousands of chicago public school students and their parents, as well as the support to complete those postsecondary pathways.

Eliminate barriers to educational & economic equity through access to debt-free college

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$0$9,959,221▲ $9,959,221
Cash and Non-Interest-Bearing Accounts$0$259,284▲ $259,284
Total Assets$0$10,218,505▲ $10,218,505
Liabilities
Accounts Payable and Accrued Expenses$0$71,258▲ $71,258
Total Liabilities$0$71,258▲ $71,258
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$9,959,221▲ $9,959,221
Net Assets Without Donor Restrictions$0$188,026▲ $188,026
Total Net Assets Fund Balance$0$10,147,247▲ $10,147,247
Total Liabilities and Net Assets / Fund Balance$0$10,218,505▲ $10,218,505
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Pete GadensBoard Chair
Constance JonesVice Chair
Charlie DesmondDirector
Dorri McwhorterDirector
Eric a ReevesDirector
John JonesDirector
Jonathan ReinsdorfDirector
Julian PosadaDirector
Laura AppenzellerDirector
Von WashingtonDirector
Wes MooreDirector
Julie HuffmanSecretary
Joyce Johnson-millerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$10,363,221
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$10,363,221
Change in Net Assets
$10,147,247

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,363,221
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$75,222
Total Revenue per Audited Statements
$10,438,443
Total Revenue per Form 990
$10,363,221
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$215,974
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
Fees for Services Management$97,000$96,566-$193,566
Conferences and Meetings-$5,958-$5,958
Fees for Services Accounting-$4,263-$4,263
Office Expenses-$3,824-$3,824
Travel-$3,713-$3,713
Fees for Services Legal-$3,000-$3,000
Advertising-$1,400-$1,400
Information Technology-$250-$250
Total Functional Expenses$97,000$118,974$0$215,974

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$291,196
Expenses per Audited Statements$215,974
Total Expenses per Form 990$215,974
Expenses Not Reported on Form 990$75,222
Expenses Not Reported on Financial Statements$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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
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

“The cfo worked with the tax preparer and provided a copy for review and feedback to the finance & audit committee of the board of directors. The full board of directors was provided a copy prior to its filing.”

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

“The organization shall at all times have a current conflict and disclosure policy that complies with (i) the disclosure, approval and other requirements of the act applying to conflicting interest transactions and (ii) the internal revenue service guidelines for conflicts of interest policies applicable to nonprofit corporations that are exempt from federal income taxation under section 501(c)(3) of the code.”

Form 990, Part VI, Section B, Line 15A

“There were no employees during the fiscal year ended june 30, 2021. The ceo will be compensated with a base salary and performance bonus. Bonus will generally involve a combination of personal performance and organization performance. The total amount of any compensation paid, including bonus pay, will be subject to excessive compensation salary surveys and review including compensation arrangements based on information about compensation paid by similarly situated taxable or tax-exempt organizations for similar services, current compensation surveys compiled by independent firms, or actual written offers from similarly situated organizations.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990 is also available at "guidestar.org and "irs.org/charities-non-profits/tax-exempt-organization-search"”

Filing and Contact Details

Filer

Filer Name
Hope Chicago Inc
EIN
86-2828908
Phone
3124773710
Address
303 E WACKER DR NO 2109, CHICAGO, IL 60601

Signing Officer

Name
Janice K Jackson Ed D
Title
Chief Executive Officer
Phone
3124773710
Signed
2022-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janice K Jackson Ed D
Formed
2021
Legal Domicile
Il
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
Mitchell & Titus Llp
Address
80 PINE STREET, NEW YORK, NY 10005
Preparer
Frederick E Davis Jr
Phone
2127094500
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“U.s. Gaap defines how uncertain tax positions should be recognized, measured, presented, and disclosed in the financial statements. It requires entities to recognize a tax benefit from an uncertain tax position only if it is more likely-than-not that the position is sustainable, based solely on its technical merits and consideration of the relevant taxing authority's widely understood administrative practices and precedents. Hope has evaluated its tax positions taken or expected to be taken to determine whether the tax positions are more-likely-than-not to be sustained by the applicable taxing authority, and has determined that it currently does not have any uncertain tax positions as of june 30, 2021.”

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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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt075222
IRS990ScheduleD/DonatedServicesUseFcltsAmt075222
IRS990ScheduleD/ExpensesNotReportedAmt075222
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0215974
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt075222
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt010363221
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0U.S. GAAP DEFINES HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, PRESENTED, AND DISCLOSED IN THE FINANCIAL STATEMENTS. IT REQUIRES ENTITIES TO RECOGNIZE A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY-THAN-NOT THAT THE POSITION IS SUSTAINABLE, BASED SOLELY ON ITS TECHNICAL MERITS AND CONSIDERATION OF THE RELEVANT TAXING AUTHORITY'S WIDELY UNDERSTOOD ADMINISTRATIVE PRACTICES AND PRECEDENTS. HOPE HAS EVALUATED ITS TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN TO DETERMINE WHETHER THE TAX POSITIONS ARE MORE-LIKELY-THAN-NOT TO BE SUSTAINED BY THE APPLICABLE TAXING AUTHORITY, AND HAS DETERMINED THAT IT CURRENTLY DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0215974
IRS990ScheduleD/TotalRevenuePerForm990Amt010363221
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt010438443
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0291196
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CFO WORKED WITH THE TAX PREPARER AND PROVIDED A COPY FOR REVIEW AND FEEDBACK TO THE FINANCE & AUDIT COMMITTEE OF THE BOARD OF DIRECTORS. THE FULL BOARD OF DIRECTORS WAS PROVIDED A COPY PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION SHALL AT ALL TIMES HAVE A CURRENT CONFLICT AND DISCLOSURE POLICY THAT COMPLIES WITH (I) THE DISCLOSURE, APPROVAL AND OTHER REQUIREMENTS OF THE ACT APPLYING TO CONFLICTING INTEREST TRANSACTIONS AND (II) THE INTERNAL REVENUE SERVICE GUIDELINES FOR CONFLICTS OF INTEREST POLICIES APPLICABLE TO NONPROFIT CORPORATIONS THAT ARE EXEMPT FROM FEDERAL INCOME TAXATION UNDER SECTION 501(C)(3) OF THE CODE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE WERE NO EMPLOYEES DURING THE FISCAL YEAR ENDED JUNE 30, 2021. THE CEO WILL BE COMPENSATED WITH A BASE SALARY AND PERFORMANCE BONUS. BONUS WILL GENERALLY INVOLVE A COMBINATION OF PERSONAL PERFORMANCE AND ORGANIZATION PERFORMANCE. THE TOTAL AMOUNT OF ANY COMPENSATION PAID, INCLUDING BONUS PAY, WILL BE SUBJECT TO EXCESSIVE COMPENSATION SALARY SURVEYS AND REVIEW INCLUDING COMPENSATION ARRANGEMENTS BASED ON INFORMATION ABOUT COMPENSATION PAID BY SIMILARLY SITUATED TAXABLE OR TAX-EXEMPT ORGANIZATIONS FOR SIMILAR SERVICES, CURRENT COMPENSATION SURVEYS COMPILED BY INDEPENDENT FIRMS, OR ACTUAL WRITTEN OFFERS FROM SIMILARLY SITUATED ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990 IS ALSO AVAILABLE AT "GUIDESTAR.ORG AND "IRS.ORG/CHARITIES-NON-PROFITS/TAX-EXEMPT-ORGANIZATION-SEARCH"
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt010218505
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt010218505
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt010363221
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0118974
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt097000
IRS990/TotalFunctionalExpensesGrp/TotalAmt0215974
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt071258
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt071258
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010147247
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt097000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt010363221
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt010218505
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt03713
IRS990/TravelGrp/TotalAmt03713
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0303 E WACKER DR NO 2109
IRS990/USAddress/CityNm0CHICAGO
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060601
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0WWW.HOPECHICAGO.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JANICE K JACKSON ED D
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHIEF EXECUTIVE OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum03124773710
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HOPE CHICAGO INC
ReturnHeader/Filer/BusinessNameControlTxt0HOPE
ReturnHeader/Filer/EIN0862828908
ReturnHeader/Filer/PhoneNum03124773710
ReturnHeader/Filer/USAddress/AddressLine1Txt0303 E WACKER DR NO 2109
ReturnHeader/Filer/USAddress/CityNm0CHICAGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060601
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0132781641
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MITCHELL & TITUS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt080 PINE STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010005
ReturnHeader/PreparerPersonGrp/PhoneNum02127094500
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0FREDERICK E DAVIS JR
ReturnHeader/ReturnTs02022-05-12T10:41:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JANICE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0JACKSON ED D
ReturnHeader/TaxPeriodBeginDt02021-03-10
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$10,218,505
Liabilities
$71,258
Net assets
$10,147,247
Revenue
$10,363,221
Expenses
$215,974
Net income
$10,147,247
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.1$0.17$32.0$25.6$3.75$21.9
2021Detailed filing. Detailed filing data is available for this year.$10.2$0.07$10.1$10.4$0.22$10.1