Hope Cottage Inc
- Assets
- $10.5m
- Revenue
- $3.5m
- Investments
- $1.4m
- Employees
- 23
- Location
- Dallas, TX
- Founding
- 12/1942
- Data as of
- 12/2023
- EIN
- 75-0800652
Organization Overview
Hope Cottage Inc is located in Dallas, TX. The organization was established in 1942. According to its NTEE Classification (P31) the organization is classified as: Adoption, under the broad grouping of Human Services and related organizations. As of 12/2023, Hope Cottage Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Cottage 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 12/2023, Hope Cottage Inc generated $3.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $2.0m during the year ending 12/2023. While expenses have increased by 0.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO TRANSFORM LIVES WITH THE LOVE OF FAMILY THROUGH ADOPTION, FOSTER CARE, PARENTING SUPPORT AND EDUCATION. WE PROVIDE WRAPAROUND SOCIAL SERVICES TAILORED TO THE NEEDS OF AT-RISK CHILDREN, FAMILIES, AND WOMEN IN OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH EDUCATION-YOUTH AND TEEN EDUCATION OFFERS CHARACTER EDUCATION COURSES IN HIGH SCHOOLS, COLLEGE CAMPUSES, AND YOUTH-SERVING ORGANIZATIONS. THE ABCS OF ADOPTION IS AN ADOPTION AWARENESS PROGRAM AIMED AT INCREASING UNDERSTANDING OF MODERN ETHICAL ADOPTION PRACTICES. LOVE NOTES IS A CURRICULUM AIMED AT GIVING TEENS THE SKILLS FOR HEALTHY RELATIONSHIPS. YOUTH EDUCATION ALSO OFFERED CONTINUING AND PROFESSIONAL EDUCATION TO SOCIAL WORKERS, TEACHERS AND NURSES. ABCS PARTICIPANTS: 1,277LOVE NOTES PARTICIPANTS: 2,541
FOSTER CARE SERVICES-HOPE COTTAGE CONTRACTS WITH TEXAS DEPARTMENT OF FAMILY AND PROTECTIVE SERVICES TO RECRUIT, SCREEN, TRAIN, AND VERIFY FAMILIES TO PROVIDE FOSTER CARE FOR CHILDREN FROM AGES 0-17 WHO HAVE BEEN REMOVED BY THE STATE FROM THEIR FAMILY OF ORIGIN DUE TO NEGLECT AND/OR ABUSE. OUR LICENSED FOSTER AND KINSHIP CARE FAMILIES PROVIDE SAFE AND LOVING HOMES FOR CHILDREN IN NEED, ENSURING THAT THEY CAN THRIVE IN A SUPPORTIVE FAMILY ENVIRONMENT. THROUGH COMPREHENSIVE CASE MANAGEMENT AND ONGOING SUPPORT, WE GUIDE FAMILIES THROUGH THE FOSTER CARE PROCESS, EMPOWERING THEM TO BUILD STRONG AND RESILIENT BONDS THAT LAST A LIFETIME. 2023 CHILDREN SERVED = 38. 2023 NUMBER OF FOSTER FAMILIES = 30.2023 NIGHTS OF CARE FOR CHILDREN IN FOSTER CARE = 4,643
PARENTING SUPPORTIVE SERVICES-IN 2023 PSS SERVED 1185 CLIENTS (CAREGIVERS AND CHILDREN) IN COMMUNITY-BASED PARENTING PROGRAMS. EVIDENCE-BASED CLASSES ARE IN PARTNER LOCATIONS WITH EXISTING FOOD, EDUCATION, AND WORKFORCE SUPPORT SERVICES. CLIENTS RECEIVE CUSTOMIZED MATERIAL SUPPORT PACKAGES TO MEET THE DIAPER/WIPE NEEDS OF EVERY CHILD IN THE HOME. WITH 65% OF CLIENTS ATTENDING BI-WEEKLY, CLASSES BECOME HUBS FOR COMMUNITY SUPPORT AND MENTORING, PROVIDING PARENTS WITH A LIFELINE AMIDST THE CHALLENGES OF PARENTING YOUNG CHILDREN. CLASSES ARE HELD IN SPANISH AND ENGLISH. IN 2023 THE PROGRAM EXPANDED TO 7 PARTNER LOCATIONS ACROSS DFW.2023 ITEMS OF MATERIAL SUPPORT DISTRIBUTED: 21,434
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephanie Bohan CEO | Officer | 40 | $148,900 |
Judy Allen CFO | Officer | 40 | $91,097 |
Gretchen Weaver COO | Officer | 40 | $77,500 |
Andrea Carter Director | Trustee | 1 | $0 |
Andrew P Legrand Director | Trustee | 1 | $0 |
Emily Floyd 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 | $2,641,257 |
| Noncash contributions included in lines 1a–1f | $5,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,641,257 |
| Total Program Service Revenue | $763,905 |
| Investment income | $74,368 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $8,277 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$12,122 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,477,323 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,518 |
| Grants and other assistance to domestic individuals. | $193,069 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $150,000 |
| Compensation of current officers, directors, key employees. | $15,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $957,014 |
| Pension plan accruals and contributions | $5,459 |
| Other employee benefits | $53,339 |
| Payroll taxes | $82,377 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,118 |
| Fees for services: Accounting | $16,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $21,064 |
| Fees for services: Other | $103,174 |
| Advertising and promotion | $32,214 |
| Office expenses | $64,107 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,907 |
| Travel | $39,573 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,867 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $86,805 |
| Insurance | $30,953 |
| All other expenses | $6,562 |
| Total functional expenses | $1,966,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $715,407 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,048,106 |
| Accounts receivable, net | $147,723 |
| 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 | $52,212 |
| Net Land, buildings, and equipment | $3,260,821 |
| Investments—publicly traded securities | $3,776,877 |
| Investments—other securities | $1,367,431 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $128,802 |
| Total assets | $10,497,379 |
| Accounts payable and accrued expenses | $169,690 |
| Grants payable | $0 |
| Deferred revenue | $100,000 |
| 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 | $269,690 |
| Net assets without donor restrictions | $7,194,069 |
| Net assets with donor restrictions | $3,033,620 |
| 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 | $10,497,379 |