Discovering Hope Foundation
- Assets
- $1.8m
- Revenue
- $471.0k
- Investments
- $1.7m
- Employees
- 0
- Location
- Ann Arbor, MI
- Founding
- 05/2019
- Data as of
- 12/2022
- EIN
- 83-2589743
Organization Overview
Discovering Hope Foundation is located in Ann Arbor, MI. The organization was established in 2019. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Discovering Hope Foundation 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, Discovering Hope Foundation generated $471.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (14.5%) each year. All expenses for the organization totaled $141.8k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (39.6%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Discovering Hope Foundation has awarded 34 individual grants totaling $411,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David W Drews President, S | 0 | $0 | |
Lisa R Drews V President, | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $158,798 |
| Interest on Savings | $0 |
| Dividends & Interest | $52,811 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $257,949 |
| Capital Gain Net Income | $257,949 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,450 |
| Total Revenue | $471,008 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $452 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $9,796 |
| Contributions, gifts, grants paid | $132,000 |
| Total expenses and disbursements | $141,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,001 |
| Savings and temporary cash investments | $15,121 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,768,596 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Discovering Hope Foundation has awarded $132,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
FISH OF SANIBEL CAPTIVA PURPOSE: SOCIAL SERVICES FOR SANIBEL FL | $75,000 |
ACCENT PONTIAC PURPOSE: SOCIAL CHANGE THRU MUSIC | $2,500 |
FOUNDATION OF THE ISLANDS PURPOSE: PHILANTHROPY | $5,000 |
FRIENDS OF BREAKTHROUGH SCHOOLS PURPOSE: EDUCATIONAL | $1,000 |
KIRK IN THE HILLS CHURCH PURPOSE: RELIGIOUS EDUCATION | $17,500 |
SHARE DETROIT INC PURPOSE: LOCAL COMMUNITY SUPPORT | $1,000 |