Hope Center Foundation
- Assets
- $559.3k
- Revenue
- $980.4k
- Investments
- $0.0
- Employees
- 27
- Location
- Chicago, IL
- Founding
- 10/2015
- Data as of
- 12/2022
- EIN
- 47-3874040
Organization Overview
Hope Center Foundation is located in Chicago, IL. The organization was established in 2015. According to its NTEE Classification (P60) the organization is classified as: Emergency Assistance, under the broad grouping of Human Services and related organizations. As of 12/2022, Hope Center Foundation employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Center Foundation 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, Hope Center Foundation generated $980.4k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 68.2% each year . All expenses for the organization totaled $1.0m during the year ending 12/2022. While expenses have increased by 77.1% per year over the past 3 years. They've been increasing with an increasing level of total revenue. 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
HELPING CHICAGO RESIDENTS TO TRANSITION OUT OF POVERTY TO LIVING WAGE & INTO GENERATIONAL WEALTH
Describe the Organization's Program Activity:
Part 3 - Line 4a
R.E.A.D.Y. (RECRUIT, EMPLOY, ADVANCE & DEVELOP YOUTH) - TO WORK IS A TWENTY-WEEK JOB READINESS PROGRAM DESIGNED FOR LOW-INCOME YOUTH AGES 16-24. THE GOAL OF THE R.E.A.D.Y. TO WORK PROGRAM IS TO PROVIDE EXPOSURE AND TO PREPARE PARTICIPANTS FOR THE WORKFORCE BY PROVIDING CAREER TRAINING. USING CREATIVE METHODS, THE HOPE CENTER FOUNDATION WILL RECRUIT, EMPLOY, AND DEVELOP YOUTH BY GUIDING THEM TO BECOME BETTER CITIZENS THROUGH ACTIVE INVOLVEMENT IN THE WORKFORCE.
THE ORGANIZATION PROVIDES ASSISTANCE TO THOSE IN NEED EACH YEAR. THE FOOD GIVE-A-WAY PROVIDED 700 BOXES OF FOOD AND MEALS TO FAMILIES AND SUPPORTED 98 PROGRAM PARTICIPANTS. TRANSPORTATION GRANTS THROUGH VENTRA GIFT CARDS WERE GIVEN OUT TO COVER RIDE-SHARING EXPENSES TO ASSIST CLIENTS WITH THEIR TRANSPORTATION NEEDS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice President | OfficerTrustee | 2 | $0 |
Name Not Listed Secretary | OfficerTrustee | 2 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 2 | $0 |
Name Not Listed President/chairman Of The Board | OfficerTrustee | 2 | $0 |
Name Not Listed Board Member | Trustee | 2 | $0 |
Name Not Listed Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,020 |
| Related organizations | $0 |
| Government grants | $884,567 |
| All other contributions, gifts, grants, and similar amounts not included above | $104,783 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $991,370 |
| 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 | -$13,571 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $980,418 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $138,370 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $28,435 |
| Compensation of current officers, directors, key employees. | $1,241 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $237,397 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,231 |
| Payroll taxes | $34,456 |
| Fees for services: Management | $194,989 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $57,158 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $48,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $122,172 |
| Advertising and promotion | $0 |
| Office expenses | $26,181 |
| Information technology | $12,673 |
| Royalties | $0 |
| Occupancy | $31,630 |
| Travel | $4,486 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,774 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,006,438 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,241 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $421,777 |
| 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 | $63,288 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $559,306 |
| Accounts payable and accrued expenses | $294,806 |
| Grants payable | $0 |
| Deferred revenue | $121,783 |
| 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 | $5,958 |
| Other liabilities | $0 |
| Total liabilities | $422,547 |
| Net assets without donor restrictions | $136,759 |
| 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 | $559,306 |