The Hopeless Foundation DBA Sub City

EIN: 383777239 501(c)(3) Arts, Culture & Humanities

Van Nuys, CA

Total Revenue
$152,592
Total Expenses
$82,211
Total Assets
$371,198
Net Assets
$370,450
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
CA
Principal Officer
Louis D Posen
Phone
8189970444
Tax Period
2024-01-01 to 2024-12-31

The Hopeless Foundation DBA Sub City, founded in 2008, is a small nonprofit in the Arts, Culture & Humanities sector that reported $153K in total revenue in fiscal year 2024. Revenue surged 104% from the prior year, signaling strong growth momentum. The organization ran a surplus of $70K, a strong 46% operating margin.

Mission

The mission of the Foundation is to bridge musicians with their fans through the issues that touch their hearts. The Foundation was created with the realization that music touches the lives of young people in ways directly connected to their passions, identities, and lifestyles becoming part of who they are as human beings. Music transcends our differences, bringing diverse young people into a positive and collaborative communities. Additionally, young people are eager and passionate about critical issues that face their communities and humanity. The Foundations mission is to connect young people through music to organizations and resources where they can make a difference.From health issues (depression, suicide prevention, AIDS) to conservation (global warming, wildlife conservation) to conflict resolution (gang prevention, community centers), just to name a few, young people are inspired by music to get involved and make a positive impact on the world. With the information, tools, an

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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 $138,782
Program Service Revenue $0
Investment Income $13,810
Other Revenue $0
TOTAL REVENUE $152,592

Expense Breakdown

Grants Paid $41,173
Salaries & Benefits $30,288
Fundraising Expenses $0
Program Expenses $41,173
Other Expenses $10,750
TOTAL EXPENSES $82,211

Year-over-Year Comparison

2024 2023 Change
Revenue $152,592 $74,979 +1.0%
Expenses $82,211 $77,813 +0.1%
Net Income $70,381 $-2,834 -25.8%
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
3
Independent Members
N/A
Employees
N/A
Volunteers
N/A

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
0
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Louis D Posen President 2.00
Director
$0 $0 $0
Jo Ann Oster Secretary 1.00
Director
$0 $0 $0
Ben Posen CFO 1.00
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
2024 $152,592 $82,211 $371,198 $70,381
2023 $74,979 $77,813 $300,695 $-2,834
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