Cottages of Hope Inc

EIN: 260752718 501(c)(3) Human Services

Ogden, UT

Total Revenue
$1,284,279
Total Expenses
$1,043,825
Total Assets
$557,130
Net Assets
$532,582
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
UT
Phone
8013934011
Tax Period
2024-01-01 to 2024-12-31

Cottages of Hope Inc, founded in 2007, is a community nonprofit in the Human Services sector that reported $1.3M in total revenue in fiscal year 2024. Revenue surged 53% from the prior year, signaling strong growth momentum. The organization ran a surplus of $240K, a strong 19% operating margin.

Mission

Cottages of Hope exists to inspire individuals and households to realize their potential by providing meaningful programs and services that empower them to achieve greater levels of financial stability. Activities include free tax preparation, financial literacy presentations, free internet access, IDA Savings Plans, and job coaching.

Program Service Accomplishments

Program 1
Expenses: $960,319

Workforce Development: (The Prosperity Center): Our resource center offers freecomputer and internet access, technical assistance, phone(fax), and information about other valuable community...

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Workforce Development: (The Prosperity Center): Our resource center offers freecomputer and internet access, technical assistance, phone(fax), and information about other valuable community resources. The Center utilizes volunteers and work based learning participants from the Federal Work Study Program, Family Employment Program(FEP, Job Corps, and Easter Seals). A majority of our efforts in the center are still focused primarily on helping individuals find stable employment.Free Tax Preparation: Cottages of Hope continues to offer the Volunteer Income TaxAssistance (VITA) program where we prepared returns in 2015. Our purpose or goal inoffering this services is to help the client obtain all of the credits they qualifyfor and to encourage them to use their tax refunds to become more financially stable. Suggestions include setting up an emergency fund, paying down debt, paying for additional schooling, or making needed car and home repairs. While having their taxes done, clients are invited to complete our "Get Connected" card that helps us maintain our relationship with them throughout the year. This enables us to contact them concerning programs and services (ours and those offered by our community partners) that make sense based on their needs.Financial Literacy: In addition to teaching classes at our location, we taughtnumerous off-site financial presentations for nonprofit, religious, and studentgroups.Other Programs (Services): In addition, Cottages of Hope also provides a number ofservices that lead to greater levels of financial stability. On a case by casebasis, Cottages of Hope provides one on one financial and job coaching and educationsessions intended to help clients learn to create budgets, create plans to reduce debt, to improve credit scores, to improve resumes, and to increase the quality of their interview skills.Cottages of Hope is a SparkPoint Center where hard-working, low-income people canaccess a full range of services to help them get out of poverty and achieve long-term financial stability. The Center brings together the most effective nonprofit and government partners to help clients build assets, grow income, and manage debt. Each client works with a personal coach, who helps create a step-by-step plan toaccomplish financial goals. This long-term approach provides on-going support untilgoals are accomplished.

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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 $1,284,199
Program Service Revenue $0
Investment Income $80
Other Revenue $0
TOTAL REVENUE $1,284,279

Expense Breakdown

Grants Paid $0
Salaries & Benefits $538,079
Fundraising Expenses $31,315
Program Expenses $960,319
Other Expenses $505,746
TOTAL EXPENSES $1,043,825

Year-over-Year Comparison

2024 2023 Change
Revenue $1,284,279 $837,448 +0.5%
Expenses $1,043,825 $711,278 +0.5%
Net Income $240,454 $126,170 +0.9%
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
13
Independent Members
13
Employees
5
Volunteers
60

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
1
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Shannon Sebahar Member 2.00
Director
$0 $0 $0
Teresa Hunsaker Vice Chair 2.00
Director
$0 $0 $0
Chris Acosta Member 2.00
Director
$0 $0 $0
Craig Roper Member 2.00
Director
$0 $0 $0
Eric Young Member 2.00
Director
$0 $0 $0
Matt Dixon Chairman 2.00
Director
$0 $0 $0
Ryan Arbon Member 2.00
Director
$0 $0 $0
Reed Richards Member 2.00
Director
$0 $0 $0
Kimal James Member 2.00
Director
$0 $0 $0
Jenny Gnagey Member 2.00
Director
$0 $0 $0
F Chris Swaner Treasurer 10.00
Director
$0 $0 $0
Pam Parkinson Secretary 2.00
Director
$0 $0 $0
Jeremy K Botelho Executive Dir. 50.00
Officer
$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
2024 $1,284,279 $1,043,825 $557,130 $240,454
2023 $837,448 $711,278 $310,327 $126,170
2022 $454,411 $358,267 $188,805 $96,144
2021 $386,500 $420,667 $82,160 $-34,167
2020 $410,862 $399,403 $155,186 $11,459
2019 $312,989 $352,046 $103,642 $-39,057
2018 $434,560 $486,135 $148,424 $-51,575
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