HOPE COMMUNITY INC

EIN: 411292817 501(c)(3) Housing & Shelter

MINNEAPOLIS, MN

Total Revenue
$3,594,701
Total Expenses
$4,104,786
Total Assets
$11,758,795
Net Assets
$2,530,784
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
MN
Principal Officer
WILL DELANEY
Phone
6128748867
Tax Period
2024-01-01 to 2024-12-31

HOPE COMMUNITY INC, founded in 1977, is a community nonprofit in the Housing & Shelter sector that reported $3.6M in total revenue in fiscal year 2024. Expenses of $4.1M exceeded revenue, resulting in a 14% operating deficit.

Mission

HOPE COMMUNITY CREATES CONNECTIONS THAT STRENGTHEN THE POWER OF COMMUNITY MEMBERS AND COMMUNITIES. HOPE CULTIVATES COMMUNITY LEADERS, BUILDS COMMUNITY CAPACITY, CARES FOR THE HOUSING AND COMMUNITY SPACES IT DEVELOPS, AND PURSUE EQUITY AND DIVERSITY IN ALL IT DOES.

Program Service Accomplishments

Program 1
Expenses: $1,359,289

COMMUNITY ENGAGEMENT HOPE INVOLVED NEARLY 350 COMMUNITY MEMBERS IN GARDEN PLANNING, PLANTING, TENDING, SHARING THE HARVEST, AND BUILDING RELATIONSHIP WITH EACH OTHER. IN THE 2024 GROWING SEASON, WE...

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COMMUNITY ENGAGEMENT HOPE INVOLVED NEARLY 350 COMMUNITY MEMBERS IN GARDEN PLANNING, PLANTING, TENDING, SHARING THE HARVEST, AND BUILDING RELATIONSHIP WITH EACH OTHER. IN THE 2024 GROWING SEASON, WE GAVE AWAY AN ESTIMATED $10,000 WORTH OF PRODUCE TO COMMUNITY MEMBERS AT OUR WEEKLY FOOD DISTRIBUTION SITES. SIX YOUTH INTERNS SERVED A TOTAL OF 480 HOURS OVER THE SUMMER. THEY SUPPORTED GARDENING EFFORTS, VISITED OTHER URBAN GARDENS, LEARNED TO COOK WITH LOCALLY GROWN PRODUCE, AND SUPPORTED THE FARM STANDS.HOPE COMPLETED THE 5TH YEAR OF TRANSFORMATIONAL CREATIVE STRATEGIES TRAINING (TRCSTR) WITH 8 COMMUNITY ARTISTS WITH A FOCUS ON BIPOC ARTISTS, TO WORK EFFECTIVELY WITH COMMUNITY AND SOCIAL JUSTICE ORGANIZERS TO EMPLOY PUBLIC ART AS A STRATEGY FOR COMMUNITY BUILDING AND ORGANIZING. IN 2024, HOPE ENGAGED WITH OVER 260 YOUTHS IN THE YOUTH, LEADERSHIP AND LEARNING PROGRAM. THEY BUILT THEIR SKILLS, CONNECTED WITH EACH OTHER, AND DEVELOPED MINDSETS TO CHOOSE THEIR CAREER PATHS THROUGH THREE SMALL GROUP LEARNING COHORTS (YOUNG MEN'S GROUP, CAREER PATHWAYS, AND CAMP READINESS), INTERNSHIPS, AND TOPICAL WORKSHOPS ON STEAM SKILLS AND SOFT SKILLS. .

Program 2
Expenses: $1,521,123

COMMUNITY DEVELOPMENT AND ASSET BUILDINGHOPE'S DEVELOPMENT VISION CALLS FOR INVESTING IN THE PEOPLE, PLACES, AND ASSETS ALREADY IN THE COMMUNITY AND CREATING NEW OPPORTUNITIES THAT SUPPORT EXISTING...

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COMMUNITY DEVELOPMENT AND ASSET BUILDINGHOPE'S DEVELOPMENT VISION CALLS FOR INVESTING IN THE PEOPLE, PLACES, AND ASSETS ALREADY IN THE COMMUNITY AND CREATING NEW OPPORTUNITIES THAT SUPPORT EXISTING RESIDENTS TO THRIVE WITHOUT THE RISK OF DISPLACEMENT. AS OF 2024, HOPE OWNS AND MANAGES A ROBUST PORTFOLIO THAT INCLUDES 237 HIGH-QUALITY RENTAL UNITS, 12 AFFORDABLE HOMEOWNERSHIP UNITS, HOPE'S OFFICES, A COMMUNITY CENTER, COMMUNITY GARDENS, AND SPACES FOR SMALL COMMUNITY BUSINESSES. IN 2024, HOPE HAS PROVIDED STABLE HOUSING TO APPROXIMATELY 800 RESIDENTS WHERE PEOPLE CAN GATHER, PLAY, LEARN, AND LEAD. SEVENTY PERCENT (70%) OF THE RENTAL UNITS ARE AFFORDABLE TO VERY LOW-INCOME HOUSEHOLDS EARNING BETWEEN 30% AND 50% OF THE AREA MEDIAN INCOME (AMI).HOPE'S PROPERTIES ARE MANAGED BY TWO PROFESSIONAL PROPERTY MANAGEMENT COMPANIES. AS A PROPERTY OWNER COMMITTED TO ITS BUILDINGS FOR THE LONG-TERM, HOPE IS RESPONSIBLE FOR THE TRADITIONAL DUTIES OF A REAL ESTATE ASSET MANAGER FINANCIAL OVERSIGHT, SELECTION OF A PROPERTY MANAGER, COMPLIANCE WITH REGULATORY AGREEMENTS, CAPITAL IMPROVEMENT PLANNING, ETC. IN 2020, HOPE LAUNCHED A STRATEGY TO SUPPORT COMMUNITY MEMBERS TO BECOME OWNER-OCCUPANT LANDLORDS OF SMALL MULTI-FAMILY BUILDINGS (DUPLEXES AND TRIPLEXES) AS AN OPPORTUNITY TO EXPAND NEIGHBORHOOD AFFORDABLE HOUSING OWNERSHIP. THESE PROPERTIES ARE OFTEN OVERLOOKED EVEN THOUGH THEY MAKE UP A SIGNIFICANT PART OF THE HOUSING STOCK IN NEIGHBORHOODS LIKE PHILLIPS AND OFFER AN OPPORTUNITY TO PRESERVE LARGE FAMILY UNITS. AS OF 2024, HOPE HAS CONDUCTED 9 COHORTS AND 12 OUT OF 74 GRADUATES HAVE PURCHASED SINGLE FAMILY HOMES OR DUPLEXES. HOPE WILL OFFER ANOTHER TWO TRAINING COHORTS IN 2025 AND CONTINUE TO PROVIDE ONE-ON-ONE SUPPORT TO GRADUATES.

Program 3
Expenses: $521,460

HOUSING AND ASSET MANAGEMENT- STABLE, HEALTHY AND AFFORDABLE HOUSING IN A SUPPORTIVE COMMUNITY ENVIRONMENT IS AN EFFECTIVE WAY FOR INDIVIDUALS AND FAMILIES TO MEET THE CHALLENGES OF POVERTY AND...

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HOUSING AND ASSET MANAGEMENT- STABLE, HEALTHY AND AFFORDABLE HOUSING IN A SUPPORTIVE COMMUNITY ENVIRONMENT IS AN EFFECTIVE WAY FOR INDIVIDUALS AND FAMILIES TO MEET THE CHALLENGES OF POVERTY AND ISOLATION IN AN URBAN ENVIRONMENT. HOPE'S RELATIONSHIPS WITH RESIDENTS ARE ROOTED IN RESPECT AND MUTUAL ACCOUNTABILITY. HOPE'S PROPERTIES ARE MANAGED BY TWO PROFESSIONAL PROPERTY MANAGEMENT COMPANIES. AS A PROPERTY OWNER COMMITTED TO ITS BUILDINGS FOR THE LONG-TERM, HOPE IS RESPONSIBLE FOR THE TRADITIOANL DUTIES OF A REAL ESTATE ASSET MANAGER- FINANCIAL OVERSIGHT, SELECTION OF A PROPERTY MANAGER, COMPLIANCE WITH REGULATORY AGREEMENTS, CAPITAL IMPROVEMENT PLANNING, ETC. HOWEVER, JOPE'S APPROACH TO ASSET MANAGEMENT INVOLVES A MUCH BROADER UNDERSTANDING OF HOW TO MAINTAIN ITS REAL ESTATE AS A LONG-TERM ASSET. KEY TO THAT UNDERSTANDING IS RELATIONSHIP-MAINTAINING RELATIONSHIPS WITH RESIDENTS, FUNDERS, GOVERNMENT PARTNERS, NEIGHBORS, COMMUNITY MEMBERS, AND MANY OTHERS. HOPE IS INVOLVED WITH GROUPS SUCH AS THE LOCAL BUSINESS ASSOCIATION AND NEIGHBORHOOD ASSOCIATION. CONSIDERABLE EFFORT IS SPENT TO CONNECT THE DISTINCT FUNCTIONS OF HOPE'S COMMUNITY ENGAGEMENT AND PROPERTY MANAGEMENT WORK.

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,483,517
Program Service Revenue $919,075
Investment Income $52,671
Other Revenue $139,438
TOTAL REVENUE $3,594,701

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,858,742
Fundraising Expenses $163,626
Program Expenses $3,401,872
Other Expenses $2,246,044
TOTAL EXPENSES $4,104,786

Year-over-Year Comparison

2024 2023 Change
Revenue $3,594,701 $3,529,911 +0.0%
Expenses $4,104,786 $4,684,312 -0.1%
Net Income $-510,085 $-1,154,401 -0.6%
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
12
Independent Members
12
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
7
$246,616
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANI RYAN KOCH CHAIR 2.00
Director
$0 $0 $0
C TERRENCE ANDERSON DIRECTOR 1.00
Director
$0 $0 $0
CANDICE ROSALEZ DIRECTOR 1.00
Officer Director
$0 $0 $0
CLAIRE CHANG DIRECTOR 1.00
Director
$0 $0 $0
DAN MCLEAN DIRECTOR 1.00
Director
$0 $0 $0
JANETTE LAW FUNDRASING CHAIR 2.00
Officer Director
$0 $0 $0
KIA HAKIMI TREASURER 2.00
Officer Director
$0 $0 $0
LACORA BRADFORD KESTI CO-CHAIR 2.00
Officer Director
$0 $0 $0
MARIA PABON GAUTIER CO-CHAIR 2.00
Officer Director
$0 $0 $0
STEVE ROBINSON DIRECTOR 1.00
Director
$0 $0 $0
BROCKMAN SCHUMACHER DIRECTOR 1.00
Director
$0 $0 $0
ALEX WEST STEINMAN DIRECTOR 1.00
Director
$0 $0 $0
DIANE GALATOWITSCH DIRECTOR 1.00
Director
$0 $0 $0
OLIVER SMITH DIRECTOR 1.00
Director
$0 $0 $0
DANYIKA LEONARD DIRECTOR 1.00
Director
$0 $0 $0
WILL DELANEY INTERIM CO-ED 40.00
Officer
$112,848 $10,965 $123,813
CHAKA MKALI INTERIM CO-ED 40.00
Officer
$112,555 $10,248 $122,803
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 $3,594,701 $4,104,786 $11,758,795 $-510,085
2023 $3,529,911 $4,684,312 $12,000,734 $-1,154,401
2022 $3,276,829 $4,184,989 $12,896,217 $-908,160
2021 $3,542,167 $3,972,429 $13,754,226 $-430,262
2020 $3,264,816 $3,552,280 $13,851,231 $-287,464
2019 $3,834,571 $2,595,421 $10,052,337 $1,239,150
2018 $2,068,371 $2,542,431 $8,502,737 $-474,060
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