Hope LoanPort Inc
- Assets
- $0.0
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 1
- Location
- Washington, DC
- Founding
- 01/2012
- Data as of
- 12/2020
- EIN
- 27-1619966
Organization Overview
Hope LoanPort Inc is located in Washington, DC. The organization was established in 2012. According to its NTEE Classification (S02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Community Improvement & Capacity Building and related organizations. Hope LoanPort Inc 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 12/2020, Hope LoanPort Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (16.8%) each year. All expenses for the organization totaled $106.1k during the year ending 12/2020. As we would expect to see with falling revenues, expenses have declined by (48.2%) per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
HOPE LOANPORT IS A NATIONAL, NEUTRAL, AND NONPROFIT UTILITY THAT UNIFIES THE EFFORTS TO HELP FAMILIES ACHIEVE AND SUSTAIN HOMEOWNERSHIP. OUR TECHNOLOGY ENABLES ALL STAKEHOLDERS TO COLLABORATE BY SHARING THE DATA, DOCUMENTS AND OTHER INFORMATION NEEDED TO HELP PEOPLE BUY OR RETAIN THEIR HOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HLP IS A UNIQUE COLLABORATIVE THAT ENGAGES THE KEY STAKEHOLDERS WHO WORK WITH FAMILIES ON HOMEOWNERSHIP - NONPROFIT COUNSELORS, ADVOCATES, LENDERS, SERVICERS, INVESTORS, ATTORNEYS AND GOVERNMENT. BEING A NATIONAL, NEUTRAL, NONPROFIT ORGANIZATION ALLOWS HLP TO LISTEN TO ALL THE PARTIES AND BUILD SOLUTIONS THAT SUPPORT HOMEOWNERS AND INCORPORATE THE UNIQUE NEEDS OF ALL STAKEHOLDERS.DRIVEN BY OUR CORE VALUES OF NEUTRALITY, COLLABORATION, AND TRANSPARENCY, OUR TECHNOLOGY ENABLES ALL STAKEHOLDERS TO COLLABORATE BY SHARING THE DATA, DOCUMENTS AND OTHER INFORMATION NEEDED TO HELP PEOPLE BUY OR RETAIN THEIR HOME. SINCE OUR START IN 2010, MORE THAN 700,000 INDIVIDUALS AND FAMILIES HAVE BEEN HELPED THROUGH OUR PLATFORM. HLP IS NOW THE INDUSTRY STANDARD FOR SUPPORTING COLLABORATION BETWEEN THE MORTGAGE INDUSTRY AND THE ADVOCACY SECTOR. USE OF THE PORTAL IS FREE FOR HOMEOWNERS AND HUD-APPROVED NONPROFIT HOUSING COUNSELORS.HOPE LOANPORT (HLP) PROVIDES A SAFE, SECURE CHANNEL FOR INDIVIDUALS AND FAMILIES TO ACHIEVE AND SUSTAIN HOMEOWNERSHIP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Cole President & CEO | OfficerTrustee | 40 | $32,123 |
Larry Gilmore Board Member | Trustee | 0 | $0 |
Ramesh Lokre Board Member | Trustee | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ntirety Inc Web Hosting | 12/30/19 | $325,827 |
The Grove International Llc Consulting | 12/30/19 | $144,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $17 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,280,402 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $32,123 |
| Compensation of current officers, directors, key employees. | $32,123 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $964 |
| Other employee benefits | $0 |
| Payroll taxes | $2,187 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,000 |
| Fees for services: Accounting | $6,460 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $170 |
| Information technology | $29,882 |
| Royalties | $0 |
| Occupancy | $1,601 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,476 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,114 |
| All other expenses | $0 |
| Total functional expenses | $106,147 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $0 |