New Hope Housing Inc
- Assets
- $67.7m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 150
- Location
- Houston, TX
- Founding
- 09/1993
- Data as of
- 12/2021
- 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 12/2021, New Hope Housing Inc employed 150 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 12/2021, New Hope Housing Inc generated $6.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $2.8m during the year ending 12/2021. While expenses have increased by 2.6% 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
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
NEW HOPE IS THE DEVELOPER, OWNER, AND MANAGER OF ITS AFFORDABLE HOUSING PROPERTIES. NEW HOPE OPERATES A CONTINUOUS DEVELOPMENT CYCLE WHERE THE ORGANIZATION HAS TWO TO THREE PROJECTS IN VARYING STAGES OF DEVELOPMENT AT ANY GIVEN TIME. NEW HOPE EARNS DEVELOPER FEES DURING THE CONSTRUCTION AND LEASE UP OF A PROPERTY. THE FEES ARE RECEIVED OVER TIME AS THE PROJECT MEETS INVESTOR BENCHMARKS. WHILE A PORTION OF THE EARNED DEVELOPER FEES HELPS FILL GAPS IN OPERATING NEEDS, THE MAIN INTENT IS FOR DEVELOPER FEES TO BE USED AS WORKING CAPITAL FOR FUTURE PROJECTS. NEW HOPE OPERATES TO THE STANDARDS OF FOR-PROFIT MULTIFAMILY INDUSTRY, AND ITS REAL ESTATE DEVELOPMENT MODEL IS A TESTAMENT TO THAT WORK.
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joy Horak-Brown President & CEO | Officer | 25 | $193,050 |
Karen Briggs Gwin Treasurer/cfo | Officer | 40 | $191,359 |
Tamara Foster VP Onsite Operations | Officer | 40 | $176,452 |
Ash Hussain Director Of Finance | 40 | $108,712 | |
Katie Lamb Human Resources Director | 40 | $102,169 | |
Nicole Cassier-Mason VP Fund Dev (to May 2021) | Officer | 46 | $67,428 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Coats Rose Pc Legal Services | 12/30/20 | $175,183 |
Stewart Title Company Real Property Title Svs | 12/30/20 | $430,000 |
Reginald Jonesdba A1 Protection Security Guard Services | 12/30/20 | $186,048 |
Stewart Title Company Real Property Title Svs | 12/30/20 | $430,000 |
Coats Rose Pc Legal Services | 12/30/20 | $175,183 |
Reginald Jonesdba A1 Protection Security Guard Services | 12/30/20 | $186,048 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $490,439 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,238,083 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,728,522 |
| Total Program Service Revenue | $842,273 |
| Investment income | $126,769 |
| 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 | $6,697,564 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $600 |
| 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. | $683,727 |
| Compensation of current officers, directors, key employees. | $78,785 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $755,202 |
| Pension plan accruals and contributions | $30,473 |
| Other employee benefits | $193,449 |
| Payroll taxes | $101,466 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $547 |
| Fees for services: Accounting | $34,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $187,226 |
| Advertising and promotion | $114,067 |
| Office expenses | $61,927 |
| Information technology | $89,935 |
| Royalties | $0 |
| Occupancy | $92,959 |
| Travel | $203 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $93,056 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,915 |
| Insurance | $27,740 |
| All other expenses | $0 |
| Total functional expenses | $2,785,125 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250 |
| Savings and temporary cash investments | $16,916,925 |
| Pledges and grants receivable | $294,549 |
| 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 | $133,970 |
| Net Land, buildings, and equipment | $1,163,279 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $47,802,463 |
| Intangible assets | $0 |
| Other assets | $1,378,098 |
| Total assets | $67,689,534 |
| Accounts payable and accrued expenses | $205,278 |
| 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 | $8,546,933 |
| Net assets without donor restrictions | $45,375,276 |
| Net assets with donor restrictions | $13,767,325 |
| 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 | $67,689,534 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that New Hope Housing Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Brentwood Foundation Frisco, TX PURPOSE: SUPPORT CHARITABLE ACTIVITIES | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Provident Commonwealth Education Resources Baton Rouge, LA | $142,254,594 | $7,390,935 |
Provident Commonwealth Education Resources Ii Baton Rouge, LA | $154,926,817 | $6,407,611 |
Houston Habitat For Humanity Inc Houston, TX | $36,979,256 | $11,315,347 |
Avenue Community Development Coporation Houston, TX | $81,189,118 | $11,542,239 |
Habitat For Humanity International Inc Fort Worth, TX | $28,701,953 | $17,323,879 |
Habitat For Humanity Of San Antonio Inc San Antonio, TX | $33,828,773 | $14,274,594 |
Housing And Community Services Inc San Antonio, TX | $78,883,961 | $25,153,792 |
Habitat For Humanity International Inc Tulsa, OK | $20,375,468 | $13,816,169 |
Front Steps Inc Austin, TX | $4,289,583 | $9,800,885 |
Operation Finally Home New Braunfels, TX | $6,586,831 | $9,808,854 |
Residential Realty Group I Inc A Delaware Corp Houston, TX | $5,107,430 | $0 |
Mccalls Community Homes Inc Ada, OK | $3,788,949 | $9,810,630 |