House Of Hope Community Development Corporation
- Assets
- $6.4m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 30
- Location
- Warwick, RI
- Founding
- 04/1994
- Data as of
- 06/2019
- EIN
- 05-0448151
Organization Overview
House Of Hope Community Development Corporation is located in Warwick, RI. The organization was established in 1994. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 06/2019, House Of Hope Community Development Corporation employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. House Of Hope Community Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2019, House Of Hope Community Development Corporation generated $2.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (4.6%) each year. All expenses for the organization totaled $2.6m during the year ending 06/2019. As we would expect to see with falling revenues, expenses have declined by (5.8%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
AFFORDABLE HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY DEVELOPMENT CORPORATION THAT PROVIDES AFFORDABLE HOUSING, SHELTERS, AND SERVICES TO THE HOMELESS POPULATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Gorra Treasurer | OfficerTrustee | 1 | $0 |
Deborah Imondi President | OfficerTrustee | 1 | $0 |
Anita Sowers Secretary | OfficerTrustee | 1 | $0 |
Michael Maynard Vice President | OfficerTrustee | 1 | $0 |
Deborah Baker Director | Trustee | 1 | $0 |
Candy Castaldi Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,011,846 |
| Investment income | $7 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $310,073 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,554,271 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $75,000 |
| Other salaries and wages | $1,222,769 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $96,058 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,143 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $66,858 |
| Advertising and promotion | $290 |
| Office expenses | $25,031 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $597,050 |
| Travel | $46,203 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $29,315 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $270,577 |
| Insurance | $50,191 |
| All other expenses | $0 |
| Total functional expenses | $2,609,522 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,827 |
| Savings and temporary cash investments | $54,410 |
| Pledges and grants receivable | $366,381 |
| Accounts receivable, net | $92,737 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,337 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,861 |
| Total assets | $6,385,932 |
| Accounts payable and accrued expenses | $198,255 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $49,746 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,162,421 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $110,656 |
| Total liabilities | $4,521,078 |
| Net assets without donor restrictions | $1,851,359 |
| Net assets with donor restrictions | $13,495 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,864,854 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that House Of Hope Community Development Corporation has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
The Harry M Miriam C & William C Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Middlesex Human Service Agency Inc Waltham, MA | $4,587,746 | $16,335,649 |
Columbus House New Haven, CT | $15,682,244 | $16,470,970 |
Rosies Place Inc Boston, MA | $38,499,401 | $18,742,725 |
Vietnam Veterans Workshop Inc Boston, MA | $30,041,487 | $14,388,519 |
Lazarus House Incorporated Lawrence, MA | $10,094,845 | $10,908,998 |
Citizens Inn Inc Peabody, MA | $4,459,514 | $7,948,455 |
Casa Nueva Vida Inc Jamaica Plain, MA | $5,246,257 | $6,906,290 |
Rhode Island Coalition For The Homeless Pawtucket, RI | $2,340,548 | $6,624,624 |
Pacific House Inc Stamford, CT | $23,158,801 | $7,136,874 |
Marillac Residence Inc Wellesley, MA | $7,075,004 | $6,383,688 |
Lynn Shelter Association Inc Lynn, MA | $3,588,906 | $6,433,551 |
Mercy Housing And Shelter Corporation Hartford, CT | $11,417,501 | $5,410,138 |