New Hope Charities Inc
- Assets
- $4.6m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 17
- Location
- West Palm Beach, FL
- Founding
- 10/1989
- Data as of
- 12/2022
- EIN
- 65-0128327
Organization Overview
New Hope Charities Inc is located in West Palm Beach, FL. The organization was established in 1989. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, New Hope Charities Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hope Charities 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 Charities Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION CONTRIBUTES FUNDS, PRODUCTS, AND SERVICES TO THE POOR, UNDERPRIVILEDGED, AND DISTRESSED MEMBERS OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DADE PROJECT CONSISTS OF GRANTS ADMINISTERED BY FATHER PATRICK O'NEILL TO AID WITH MEDICAL, EDUCATIONAL, HOUSING, AND MISCELLANEOUS EXPENSES OF THE NEEDY. THE MISCELLANEOUS GRANTS ARE GENERAL GRANTS TO HELP WITH SUCH THINGS AS GROCERIES, FUNERAL EXPENSES, ETC.
OTHER PALM BEACH PROGRAMS INCLUDE THE PAHOKEE PROGRAM AND THE MIR PROJECT: THE PAHOKEE PROGRAMS CONSISTS OF THE FAMILY CENTER. THIS IS MADE UP OF DAY CARE AND YOUTH CENTERS AND COLLECTION AND DISTRIBUTION OF FOOD AND CLOTHES TO THE NEEDY PROGRAM. THE MIR PROJECT INCLUDES AID TO THE MIR FOUNDATION, WHICH USES THE FUNDS TO PROVIDE FOOD, SHELTER, AND EDUCATION ASSISTANCE TO THE NEEDY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas F Carney Jr Director | Trustee | 1 | $0 |
Jose Pepe Fanjul Chairman | OfficerTrustee | 1 | $0 |
Lillian Fanjul President - Pb County Division | OfficerTrustee | 1 | $0 |
Alejandro Londono Vice President/treasurer | OfficerTrustee | 1 | $0 |
Joseph P Klock Jr ESQ Director | Trustee | 1 | $0 |
Patrick O'neil President - Dade County Div. | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $296,455 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $698,858 |
| Noncash contributions included in lines 1a–1f | $8,037 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $995,313 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $77,339 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $190,825 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,301,641 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $118,618 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,091,175 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $55,197 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,461 |
| 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 | $288,668 |
| Insurance | $74,299 |
| All other expenses | $0 |
| Total functional expenses | $1,730,901 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $323,892 |
| Pledges and grants receivable | $197,881 |
| 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 | $78,139 |
| Net Land, buildings, and equipment | $3,923,445 |
| Investments—publicly traded securities | $29,965 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,553,322 |
| Accounts payable and accrued expenses | $55,237 |
| 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 | $55,237 |
| Net assets without donor restrictions | $4,437,327 |
| Net assets with donor restrictions | $60,758 |
| 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 | $4,553,322 |