Hope Chicago Inc
- Assets
- $32.1m
- Revenue
- $25.6m
- Investments
- $0.0
- Employees
- 5
- Location
- Chicago, IL
- Founding
- Data as of
- 06/2022
- EIN
- 86-2828908
Organization Overview
Hope Chicago Inc is located in Chicago, IL. As of 06/2022, Hope Chicago Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hope Chicago 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 06/2022, Hope Chicago Inc generated $25.6m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 57.2% each year . All expenses for the organization totaled $3.7m during the year ending 06/2022. 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
ELIMINATE BARRIERS TO EDUCATIONAL & ECONOMIC EQUITY THROUGH ACCESS TO DEBT-FREE COLLEGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOPE CHICAGO INC. PROVIDES SCHOLARSHIPS, PARTICIPATION IN COLLEGE PREPARATORY ACTIVITIES, ASSISTANCE WITH FINANCIAL AID APPLICATIONS AND NAVIGATING THE COLLEGE EXPERIENCE, INCLUDING VOCATIONAL EDUCATION PROGRAMS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pete Kadens Board Chair | OfficerTrustee | 10 | $0 |
Julie Hoffmann Secretary | OfficerTrustee | 5 | $0 |
Joyce Johnson-Miller Treasurer | OfficerTrustee | 5 | $0 |
Constance Jones Vice Chair | OfficerTrustee | 5 | $0 |
John Jones Director | Trustee | 5 | $0 |
Dorri Mcwhorter Director | Trustee | 5 | $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 | $25,597,442 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,597,442 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $25,597,442 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,501 |
| Grants and other assistance to domestic individuals. | $48,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $126,923 |
| Compensation of current officers, directors, key employees. | $126,923 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $819,767 |
| Pension plan accruals and contributions | $11,894 |
| Other employee benefits | $81,262 |
| Payroll taxes | $100,078 |
| Fees for services: Management | $148,125 |
| Fees for services: Legal | $4,280 |
| Fees for services: Accounting | $71,601 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $666,506 |
| Advertising and promotion | $635,962 |
| Office expenses | $34,427 |
| Information technology | $96,782 |
| Royalties | $0 |
| Occupancy | $78,469 |
| Travel | $6,289 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,114 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,108 |
| Insurance | $8,272 |
| All other expenses | $2,837 |
| Total functional expenses | $3,747,347 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,157,406 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $19,919,671 |
| 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 | $25,964 |
| Net Land, buildings, and equipment | $16,106 |
| Investments—publicly traded securities | $14,609 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,785 |
| Total assets | $32,142,541 |
| Accounts payable and accrued expenses | $167,089 |
| 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 | $167,089 |
| Net assets without donor restrictions | $10,927,229 |
| Net assets with donor restrictions | $21,048,223 |
| 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 | $32,142,541 |