Housing For New Hope Inc
- Assets
- $6.4m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 36
- Location
- Durham, NC
- Founding
- 02/1994
- Data as of
- 08/2021
- EIN
- 58-2089068
Organization Overview
Housing For New Hope Inc is located in Durham, NC. The organization was established in 1994. 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 08/2021, Housing For New Hope Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing For New 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 08/2021, Housing For New Hope Inc generated $3.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $3.3m during the year ending 08/2021. While expenses have increased by 6.4% per year over the past 6 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
ENDING HOMELESSNESS IN DURHAM, NORTH CAROLINA
Describe the Organization's Program Activity:
Part 3 - Line 4a
RAPID RE-HOUSING - PROVIDES TIME-LIMITED FINANCIAL ASSISTANCE WITH HOUSING COSTS, SUPPORT FOR MOVE-IN-RELATED EXPENSES AND SUPPORTIVE SERVICES TAILORED TO CLIENT NEEDS WITH THE GOAL OF CLIENTS REMAINING STABLY HOUSED EVEN AFTER FINANCIAL SUPPORT ENDS.
SUPPORTIVE HOUSING - ENSURES CHRONICALLY HOMELESS INDIVIDUALS WITH DISABLING CONDITIONS ARE CONNECTED TO STABLE HOUSING AND LONG-TERM SUPPORTIVE SERVICES. HNH OFFERS 44 UNITS OF SUPPORTIVE HOUSING AT ITS ANDOVER AND WILLIAMS SQUARE APARTMENT COMMUNITIES AND PARTNERS WITH A GROWING NETWORK OF PRIVATE LANDLORDS TO PROVIDE COMMUNITY-BASED HOUSING OPTIONS AROUND DURHAM.
STREET OUTREACH - CONNECTS TO OUR UNSHELTERED NEIGHBORS TO BUILD A TRUSTING RELATIONSHIP WITH AN AIM TOWARD CONNECTING FOLKS TO TEMPORARY AND/OR PERMANENT HOUSING.
RAPID RE-HOUSING - PROVIDES TIME-LIMITED FINANCIAL ASSISTANCE WITH HOUSING COSTS, SUPPORT FOR MOVE-IN-RELATED EXPENSES AND SUPPORTIVE SERVICES TAILORED TO CLIENT NEEDS WITH THE GOAL OF CLIENTS REMAINING STABLY HOUSED EVEN AFTER FINANCIAL SUPPORT ENDS.
SUPPORTIVE HOUSING - ENSURES CHRONICALLY HOMELESS INDIVIDUALS WITH DISABLING CONDITIONS ARE CONNECTED TO STABLE HOUSING AND LONG-TERM SUPPORTIVE SERVICES. HNH OFFERS 44 UNITS OF SUPPORTIVE HOUSING AT ITS ANDOVER AND WILLIAMS SQUARE APARTMENT COMMUNITIES AND PARTNERS WITH A GROWING NETWORK OF PRIVATE LANDLORDS TO PROVIDE COMMUNITY-BASED HOUSING OPTIONS AROUND DURHAM.
STREET OUTREACH - CONNECTS TO OUR UNSHELTERED NEIGHBORS TO BUILD A TRUSTING RELATIONSHIP WITH AN AIM TOWARD CONNECTING FOLKS TO TEMPORARY AND/OR PERMANENT HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russell Pierce Executive Director | Officer | 40 | $109,676 |
Charles Lee Vice Chair | OfficerTrustee | 0.5 | $0 |
Rev Bob Kaynor Treasurer | OfficerTrustee | 1 | $0 |
Rev Chris Breslin Secretary | OfficerTrustee | 0.5 | $0 |
Sarah T Meiners Chair | OfficerTrustee | 0.5 | $0 |
Dawn Bland Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,197,338 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,175,282 |
| Noncash contributions included in lines 1a–1f | $22,600 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,372,620 |
| Total Program Service Revenue | $325,143 |
| Investment income | $3,830 |
| 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 | $3,701,593 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,020,318 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $145,033 |
| Compensation of current officers, directors, key employees. | $65,265 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,141,824 |
| Pension plan accruals and contributions | $18,415 |
| Other employee benefits | $143,739 |
| Payroll taxes | $91,653 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $42,900 |
| 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 | $137,361 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $104,213 |
| Travel | $30,571 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $27,380 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $157,983 |
| Insurance | $39,756 |
| All other expenses | $13,724 |
| Total functional expenses | $3,282,935 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $442,059 |
| Savings and temporary cash investments | $572,889 |
| Pledges and grants receivable | $782,646 |
| Accounts receivable, net | $22,902 |
| 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 | $35,501 |
| Net Land, buildings, and equipment | $4,312,539 |
| Investments—publicly traded securities | $169,017 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,527 |
| Total assets | $6,369,080 |
| Accounts payable and accrued expenses | $32,957 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $10,000 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,856,152 |
| Unsecured mortgages and notes payable | $60,217 |
| Other liabilities | $80,441 |
| Total liabilities | $2,039,767 |
| Net assets without donor restrictions | $3,744,031 |
| Net assets with donor restrictions | $585,282 |
| 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 | $6,369,080 |
Grants Recieved
Over the last fiscal year, we have identified 15 grants that Housing For New Hope Inc has recieved totaling $381,485.
| Awarding Organization | Amount |
|---|---|
Stewards Fund Clinton, NC PURPOSE: GRANT FOR HOUSING COLLABORATIVE PROJECTS | $100,000 |
North Carolina Coalition To End Homelessness Inc Raleigh, NC PURPOSE: AID TO HOMELESS | $97,056 |
Forest At Duke Inc Durham, NC PURPOSE: OPERATING SUPPORT | $35,000 |
United Way Of The Greater Triangle Inc Durham, NC PURPOSE: GENERAL SUPPORT | $34,134 |
Stewards Fund Clinton, NC PURPOSE: CHALLENGE GRANT FOR GENERAL OPERATING SUPPORT | $33,814 |
F M Kirby Foundation Inc Morristown, NJ PURPOSE: IN SUPPORT OF 501C3 PURPOSE | $30,000 |
Endowment Analysis
| Earnings | $659 |
| Admin Expense | $75 |
| Net Contributions | $24,750 |
| Ending Balance | $25,334 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Big Canoe Property Owners Association Inc And Subsidiary Big Canoe, GA | $48,180,026 | $19,159,834 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |
Alexandria Housing Development Corporation Alexandria, VA | $129,711,642 | $8,689,601 |
Habitat For Humanity Of Greater Nashville Nashville, TN | $71,491,096 | $16,513,254 |
Virginia Supportive Housing Richmond, VA | $30,778,021 | $11,444,363 |
Habitat For Humanity International Inc Memphis, TN | $13,622,959 | $12,248,424 |
Our Lady Of Peace Inc Roanoke, VA | $13,777,109 | $11,564,075 |
Guardian Center Inc Ooltewah, TN | $1,527,267 | $10,632,560 |
Jerusalem House Inc Atlanta, GA | $4,358,598 | $7,877,090 |
Habitat For Humanity International Inc Newport News, VA | $9,861,358 | $8,052,076 |
American Opportunity Foundation Atlanta, GA | $34,585,201 | $5,667,158 |
Recovery Place Community Services Inc Savannah, GA | $2,985,458 | $7,587,530 |