New Hope Housing Inc
- Assets
- $68.5m
- Revenue
- $4.7m
- Investments
- $0.0
- Employees
- 175
- Location
- Houston, TX
- Founding
- 09/1993
- Data as of
- 12/2022
- EIN
- 73-1419279
Organization Overview
New Hope Housing Inc is located in Houston, TX. The organization was established in 1993. 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 12/2022, New Hope Housing Inc employed 175 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hope Housing 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 Housing Inc generated $4.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $4.4m 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
TO PROVIDE LIFE-STABILIZING, AFFORDABLE HOUSING AND SUPPORT FOR PEOPLE WITH VERY LIMITED INCOMES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth J Valach Chair | OfficerTrustee | 9 | $0 |
Sanford W Criner Jr Vice Chair | OfficerTrustee | 3 | $0 |
Michael M Fowler Chair Emeritus | OfficerTrustee | 1 | $0 |
Rick Craig Director | Trustee | 1 | $0 |
Philip A Croker Director | Trustee | 1 | $0 |
Jeffrey P Hebert Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stewart Title Company Real Property Title Services | 12/30/22 | $355,000 |
Nuu Group Llc Marketing | 12/30/22 | $271,212 |
Ecological Restoration Services Llc Landscaping | 12/30/22 | $176,035 |
Gsma Inc Architectural Services | 12/30/22 | $120,174 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $857,900 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,680,043 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,537,943 |
| Total Program Service Revenue | $869,594 |
| Investment income | $348,420 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$8,685 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,747,272 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $560,815 |
| 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. | $536,284 |
| Compensation of current officers, directors, key employees. | $55,776 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,074,425 |
| Pension plan accruals and contributions | $46,592 |
| Other employee benefits | $178,275 |
| Payroll taxes | $133,164 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,334 |
| Fees for services: Accounting | $32,359 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $246,271 |
| Advertising and promotion | $398,358 |
| Office expenses | $76,821 |
| Information technology | $167,500 |
| Royalties | $0 |
| Occupancy | $111,325 |
| Travel | $5,375 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $153,376 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,309 |
| Insurance | $46,803 |
| All other expenses | $0 |
| Total functional expenses | $4,351,867 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250 |
| Savings and temporary cash investments | $11,170,724 |
| Pledges and grants receivable | $101,935 |
| Accounts receivable, net | $54,018 |
| 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 | $190,596 |
| Net Land, buildings, and equipment | $1,688,785 |
| Investments—publicly traded securities | $4,672,549 |
| Investments—other securities | $0 |
| Investments—program-related | $47,459,094 |
| Intangible assets | $0 |
| Other assets | $3,205,252 |
| Total assets | $68,543,203 |
| Accounts payable and accrued expenses | $133,077 |
| Grants payable | $0 |
| Deferred revenue | $8,341,655 |
| 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 | $8,474,732 |
| Net assets without donor restrictions | $55,143,471 |
| Net assets with donor restrictions | $4,925,000 |
| 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 | $68,543,203 |