HOPE Inc

EIN: 061269812 501(c)(3)

New London, CT

Total Revenue
$752,128
Total Expenses
$230,776
Total Assets
$2,782,823
Net Assets
$2,760,668
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1989
Legal Domicile
CT
Principal Officer
Stacey Smith
Phone
8604470812
Tax Period
2024-01-01 to 2024-12-31

HOPE Inc, founded in 1989, is a small nonprofit that reported $752K in total revenue in fiscal year 2024. Revenue surged 195% from the prior year, signaling strong growth momentum. The organization ran a surplus of $521K, a strong 69% operating margin.

Mission

H.O.P.E.'s mission is to provide homeownership opportunities to low to moderate income families. We seek to revitalize neighborhoods without gentrification.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $642,341
Program Service Revenue $100,225
Investment Income $5,432
Other Revenue $4,130
TOTAL REVENUE $752,128

Expense Breakdown

Grants Paid $0
Salaries & Benefits $86,663
Fundraising Expenses $10,672
Program Expenses $154,917
Other Expenses $144,113
TOTAL EXPENSES $230,776

Year-over-Year Comparison

2024 2023 Change
Revenue $752,128 $254,743 +2.0%
Expenses $230,776 $214,241 +0.1%
Net Income $521,352 $40,502 +11.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
11
Independent Members
11
Employees
1
Volunteers
1

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$80,250
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Stacey Smith Executive Dir. 35.00
Officer
$80,250 $0 $80,250
Peter Springsteel Chairman 4.00
Officer Director
$0 $0 $0
Chris Johnson Vice Chair 0.50
Officer Director
$0 $0 $0
Annette Finton Treasurer 0.50
Officer Director
$0 $0 $0
Helen Behney Director 0.50
Director
$0 $0 $0
Suzanne Cole Director 0.50
Director
$0 $0 $0
Keith Caplet Director 0.50
Director
$0 $0 $0
Richard Turner Director 0.50
Director
$0 $0 $0
Ned Hammond Director 0.50
Director
$0 $0 $0
Dan Brannegan Director 0.50
Director
$0 $0 $0
Marilyn Graham Director 0.50
Director
$0 $0 $0
Sophia Senat Director 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $752,128 $230,776 $2,782,823 $521,352
2023 $254,743 $214,241 $2,257,470 $40,502
2022 $-10,039 $209,264 $2,226,485 $-219,303
2021 $435,116 $202,133 $2,426,134 $232,983
2020 $-496,655 $199,740 $2,173,806 $-696,395
2020 $-765,546 $38,150 $2,020,418 $-803,696
2019 $177,322 $197,300 $2,863,610 $-19,978
2018 $491,763 $171,749 $2,873,978 $320,014
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