Urban Hope Inc
- Assets
- $3.5m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 4
- Location
- Richmond, VA
- Founding
- 01/2001
- Data as of
- 12/2021
- EIN
- 54-1997025
Organization Overview
Urban Hope Inc is located in Richmond, VA. The organization was established in 2001. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Urban Hope Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Urban Hope 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 12/2021, Urban Hope Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 48.9% each year . All expenses for the organization totaled $611.4k during the year ending 12/2021. While expenses have increased by 36.3% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY FOCUS OF URBAN HOPE IS TO PARTNER WITH FAMILIES WHO SEEK AFFORDABLE RENTAL HOUSING AND/OR HOME OWNERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGHLIGHTS OF URBAN HOPE'S PROGRAM ACCOMPLISHMENTS FOR 2021: BY THE END OF 2021, URBAN HOPE PROVIDED 30 UNITS OF RENTAL HOUSING, WITH OVER 80 TENANTS LIVING IN STABLE, SAFE, AFFORDABLE HOUSING. WITH TREMENDOUS COMMUNITY SUPPORT, URBAN HOPE KEPT EVERYONE STABLY AND SAFELY HOUSED THROUGHOUT. URBAN HOPE COMPLETED A MORTGAGE REFINANCING OF A MULTI-FAMILY PROPERTY, STARTED CONSTRUCTION ON ITS FIRST FOUR-BEDROOM SINGLE-FAMILY HOME, PARTNERED WITH COMMUNITY ORGANIZATIONS TO BUILD TWO ATTACHED SINGLE-FAMILY HOMES, AND TOOK OVER OWNERSHIP AND MANAGEMENT OF 1 SINGLE-FAMILY HOME AND 1 QUAD (ADDING NINE AFFORDABLE UNITS IN TOTAL IN 2021). ONE OF OUR TENANTS BECAME A FIRST-TIME HOMEBUYER ON THE OPEN MARKET. SEVERAL OF OUR CLIENTS MOVED OUT OF PUBLIC HOUSING AND INTO ONE OF OUR RENTALS. URBAN HOPE MAINTAINED PARTNERSHIP WITH 47 PRIVATE LENDERS, WHICH SUPPORTED THE PURCHASE AND RENOVATION OF PROPERTIES. URBAN HOPE CONTINUED OFFERING FINANCIAL HEALTH CLASSES TWICE PER MONTH WITH ONE BEING VIRTUAL AND THE OTHER BEING IN-PERSON. DESPITE DIFFICULT HEALTH PROBLEMS AND JOB LOSS, OUR CLIENTS AND TENANTS DEMONSTRATED GREAT RESILIENCE AND RELIANCE ON ONE ANOTHER TO CONTINUE PURSUING THEIR FINANCIAL GOALS. URBAN HOPE MADE GREAT STRIDES TOWARDS OUR MISSION OF MAKING HOME A CORNERSTONE OF OPPORTUNITY BY KEEPING IT AFFORDABLE.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Hale President | Officer | 40 | $80,000 |
Caitie Rountree Chan Chair- Vice President | OfficerTrustee | 1 | $0 |
David Clarke Vice Chairman | OfficerTrustee | 1 | $0 |
Shawn Maida Treasurer | OfficerTrustee | 1 | $0 |
Dontrese Brown Secretary | OfficerTrustee | 1 | $0 |
Ross Little Director | Trustee | 1 | $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 | $879,798 |
| Noncash contributions included in lines 1a–1f | $6,781 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $879,798 |
| Total Program Service Revenue | $178,299 |
| Investment income | $62 |
| 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 | $1,058,159 |
| 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. | $80,000 |
| Compensation of current officers, directors, key employees. | $21,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $151,692 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,967 |
| Payroll taxes | $18,335 |
| Fees for services: Management | $22,342 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,437 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,000 |
| Advertising and promotion | $16,704 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,031 |
| Interest | $39,371 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,466 |
| Insurance | $17,889 |
| All other expenses | $45,278 |
| Total functional expenses | $611,428 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $712,668 |
| Savings and temporary cash investments | $25,040 |
| 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 | $2,782,893 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,453 |
| Total assets | $3,532,054 |
| 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 | $328,428 |
| Unsecured mortgages and notes payable | $2,083,490 |
| Other liabilities | $0 |
| Total liabilities | $2,411,918 |
| Net assets without donor restrictions | $1,021,919 |
| Net assets with donor restrictions | $98,217 |
| 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 | $3,532,054 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Urban Hope Inc has recieved totaling $2,500.
| Awarding Organization | Amount |
|---|---|
Waltie Fund Henrico, VA PURPOSE: TO FURTHER THE EXEMPT PURPOSE OF THE ORGANIZATION | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Housing Partners Corporation Christiansburg, VA | $210,530,324 | $87,907,515 |
Enterprise Community Development Inc Columbia, MD | $150,433,261 | $43,987,858 |
Skill Creations Inc Goldsboro, NC | $13,834,048 | $44,435,808 |
Renewal Housing Inc North Bethesda, MD | $14,557,789 | $3,551,240 |
Habitat For Humanity International Inc Raleigh, NC | $48,704,094 | $32,190,331 |
Montage Living Charlotte, NC | $133,680,991 | $23,940,845 |
Washington Housing Conservancy Inc Washington, DC | $420,260,184 | $21,973,797 |
Ahc Inc Arlington, VA | $252,147,992 | $33,394,070 |
Habitat For Humanity International Inc Charlotte, NC | $71,967,554 | $27,686,341 |
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Montgomery Housing Partnership Inc Silver Spring, MD | $117,127,971 | $17,924,784 |
Enterprise Community Loan Fund Inc Columbia, MD | $332,804,742 | $25,996,753 |