New Hope Initiative Inc
- Assets
- $512.5k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 4
- Location
- Kingwood, TX
- Founding
- 03/2011
- Data as of
- 12/2022
- EIN
- 27-3984784
Organization Overview
New Hope Initiative Inc is located in Kingwood, TX. The organization was established in 2011. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, New Hope Initiative Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hope Initiative 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 12/2022, New Hope Initiative Inc generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
AS A CHRISTIAN MINISTRY, ESTABLISH AND SUPPORT: FEEDING CENTERS, SCHOOLS, MEDICAL CLINICS, AND ORPHANAGES IN VARIOUS COUNTRIES TO PROVIDE FOOD, EDUCATION, MEDICAL AND SPIRITUAL SUPPORT TO INDIGENT CHILDREN AND THEIR FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KIBERA SLUM IN NAIROBI, KENYA. NHI PROVIDES FUNDS TO: 1. NEW HOPE ACADEMY: NHI GRANTS COVER THE ENTIRE OPERATING COST OF A FULL SCHOLARSHIP ACADEMY (400+ STUDENTS PRE-K THRU GRADE 8) INCLUDING FACILITIES, TEACHERS, STAFF, SUPPLIES, AND TWO MEALS / DAY FOR THE STUDENTS 2. PENDA PROJECT: NHI GRANTS COVER SECONDARY SCHOOL SCHOLARSHIPS FOR 160+ STUDENTS GRADUATING FROM NEW HOPE ACADEMY TO GO TO AREA HIGH SCHOOLS AND ANOTHER 20+ STUDENTS TO GO TO UNIVERSITY 3. NEW HOPE CLINIC: NHI GRANTS COVER THE COST OF BASIC MEDICAL SERVICES TO STUDENT AND THEIR FAMILIES VIA A REGISTERED NURSE 4. PROJECT BIASHARA: NHI GRANTS COVER JOB TRAINING AND MICRO-BUSINESS LOANS FOR ~30 SINGLE MOTHERS TO PRODUCE AND SELL GOODS
ADDITIONAL PROJECTS: NICARAGUA, INDIA, ACACIA TREE LODGE
ORPHANAGE - MORIBATOWN, SIERRA LEONE. NHI PROVIDES FUNDS TO CARE FOR 70+ CHILDREN, MANY WITH SPECIAL NEEDS; COSTS INCLUDE FOOD, CLOTHING, MEDICAL CARE, EDUCATION, AND THE COST OF STAFF / FACILITIES
OLORIEN COMMUNITY CLINIC IN ARUSHA, TANZANIA. NHI PROVIDES FUNDS FOR A FULL SERVICE MEDICAL FACILITY SEEING 200+ PATIENTS PER DAY. NHI GRANTS COVER THE COST OF STAFF (3 DOCTORS; 24 STAFF), FACILITIES, AND EQUIPMENT (LAB, X-RAY, ULTRASOUND, MINOR OPERATING ROOM) ARUSHA ACADEMY: WE OFFER MONTHLY SUPPORT TO ENABLE INDIGENT LOCAL STUDENTS TO ATTEND THIS PRIVATE FEE BASED SCHOOL
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sandy Baird Director | Trustee | 30 | $66,000 |
David Belk Board Member | Trustee | 15 | $22,800 |
James Wagstaff Vice Chair | Trustee | 15 | $20,900 |
Karen Baird Director | Trustee | 12 | $0 |
Kevin Whitacre Board Chair | Trustee | 2 | $0 |
Luke Bondy Treasurer | Trustee | 6 | $0 |
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 | $1,061,255 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,061,255 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $1,106,496 |
| 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 | $939,917 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $66,000 |
| Compensation of current officers, directors, key employees. | $6,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,700 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $43,276 |
| Payroll taxes | $4,930 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $34,467 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,507 |
| Office expenses | $2,898 |
| Information technology | $4,421 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $16,052 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,698 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $767 |
| All other expenses | $0 |
| Total functional expenses | $1,175,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $512,523 |
| 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 | $512,523 |
| 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 | $2,124 |
| Other liabilities | $0 |
| Total liabilities | $2,124 |
| 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 | $510,399 |
| Total liabilities and net assets/fund balances | $512,523 |