HOPE UNITED COMMUNITY DEVELOPMENT CORPORATION

EIN: 200875964 501(c)(3) Education

Minneapolis, MN

Total Revenue
$93,754
Total Expenses
$199,649
Total Assets
$35,250
Net Assets
$33,041
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2004
Legal Domicile
MN
Principal Officer
Rev Richard Coleman
Phone
6126926563
Tax Period
2023-01-01 to 2023-12-31

HOPE UNITED COMMUNITY DEVELOPMENT CORPORATION, founded in 2004, is a micro nonprofit in the Education sector that reported $94K in total revenue in fiscal year 2023. Revenue fell 67% from the prior year — a significant decline worth monitoring. Expenses of $200K exceeded revenue, resulting in a 113% operating deficit.

Mission

A catalyst of hope connecting people, organizations, and resources to transform lives and communities for good.

Program Service Accomplishments

Program 1
Expenses: $164,968 Revenue: $13,100

2023 Program Highlights 1. Education a. We supported the creation of a volunteer compassion and care team that provided free breakfast events for the school's entire staff. The compassion and care...

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2023 Program Highlights 1. Education a. We supported the creation of a volunteer compassion and care team that provided free breakfast events for the school's entire staff. The compassion and care team also provided other resources to encourage and reward the teaching faculty. b. We Provided clothing, food, and personal care products to students and families at the fall and winter holiday seasons. c. We donated over 700 books and $500 to support school's literacy program. d. We organized and conducted the second annual "Harvest a New North" outdoor festival with 50 volunteers from local and regional nonprofits, churches, and businesses to celebrate positive community values and promote safety and peace. We provided 500 free meals . We distributed 600 backpacks loaded with school supplies and equipment. e. We conducted ten youth development workshops through our African American Male Alliance f. We Consulted with the Franklin Middle School Principal to enhance professional development of school leadership 2. Increasing Positive Community Engagement a. We conducted twelve Bridge of Reconciliation conferences via Zoom reaching 224 distinct and ethnically diverse constituents including pastors, government officials, nonprofit leaders, professional service providers, residents, educators, and business leaders. b. We supported the Minnesota Council of Churches as Our Executive Director served as a member of the Board of Directors. c. We remain engaged with the Minnesota Multifaith Network, His Works United, Transform MN, the Minnesota Council of Churches, the Minnesota National Day of Prayer Committee and other interfaith and multi-cultural networking movements advancing peace. d. We provided fiscal agency for the 21 Days of Peace community engagement movement. e. We sustained our advisory role with The One Fund through which more than sixty local, predominantly Black congregations received financial support. f. We Served as fiscal agent for professionals providing trauma relief services. 3. Increasing Economic Opportunity a. We continued developing a faith-based jobs and career program entitled Connect to Success. b. We formed a Hope United community development strategy that is based on investing in a local, socially conscious black-owned business which will provide workers family supportive wages and will invest in community development through charitable giving.

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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 (2023)

Revenue Breakdown

Contributions & Grants $80,474
Program Service Revenue $13,100
Investment Income $180
Other Revenue $0
TOTAL REVENUE $93,754

Expense Breakdown

Grants Paid $500
Salaries & Benefits $30,223
Fundraising Expenses $0
Program Expenses $164,968
Other Expenses $168,926
TOTAL EXPENSES $199,649

Year-over-Year Comparison

2023 2022 Change
Revenue $93,754 $287,756 -0.7%
Expenses $199,649 $220,683 -0.1%
Net Income $-105,895 $67,073 -2.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
7
Independent Members
7
Employees
N/A
Volunteers
50

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
3
$40,980
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Rev Richard Coleman Executive Director 20
Officer
$30,000 $223 $30,223
Cheryl Anderson Accountant 25
Officer
$10,757 $0 $10,757
Lee Parker Board Member 1
Director
$0 $0 $0
Rita Tolbert Board Member 1
Director
$0 $0 $0
Dr Herbert Klem Board Member 1
Director
$0 $0 $0
Lisa Erikson Board Member 1
Director
$0 $0 $0
Rev Dr Russell A Pointer Sr Board Member 1
Director
$0 $0 $0
Cam Selmer Board Member 1.00
Director
$0 $0 $0
Lonnie Humphrey Board Chair/Treasurer 1.00
Officer 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
2023 $93,754 $199,649 $35,250 $-105,895
2022 $287,756 $220,683 $149,229 $67,073
2021 $486,160 $531,293 $110,396 $-45,133
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