HOPEWELL MUSIC COOPERATIVE-NORTH

EIN: 460547282 501(c)(3) Arts, Culture & Humanities

Minneapolis, MN

Total Revenue
$280,950
Total Expenses
$322,197
Total Assets
$230,538
Net Assets
$204,746
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
MN
Principal Officer
Alfred Sanders
Phone
6124660696
Tax Period
2023-01-01 to 2023-12-31

HOPEWELL MUSIC COOPERATIVE-NORTH, founded in 2012, is a small nonprofit in the Arts, Culture & Humanities sector that reported $281K in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. Expenses of $322K exceeded revenue, resulting in a 15% operating deficit.

Mission

Hopewell's mission is to improve access to music education in North Minneapolis through affordable, inclusive, and engaging music programs.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Sign In — Free (10 views/day)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $256,289
Program Service Revenue $27,518
Investment Income $39
Other Revenue $-2,896
TOTAL REVENUE $280,950

Expense Breakdown

Grants Paid $0
Salaries & Benefits $255,621
Fundraising Expenses $80,771
Program Expenses $198,579
Other Expenses $66,576
TOTAL EXPENSES $322,197

Year-over-Year Comparison

2023 2022 Change
Revenue $280,950 $332,890 -0.2%
Expenses $322,197 $324,808 0.0%
Net Income $-41,247 $8,082 -6.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Sign In

Governance

Voting Members
8
Independent Members
8
Employees
14
Volunteers
4

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
9
$34,029
Total Directors
0
$0
Key Employees
1
$34,029
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Andrea Myers Executive Director 30
Officer Key Emp
$34,029 $0 $34,029
Shemeka Bogan Board Member 0
Officer
$0 $0 $0
Joe Clements Board Member 0
Officer
$0 $0 $0
Minna Montgomery Board Member 0
Officer
$0 $0 $0
Beth Young Treasurer 0
Officer
$0 $0 $0
Jeannine Burnette Board Chair 0
Officer
$0 $0 $0
GeoffreyWilson Secretary 0
Officer
$0 $0 $0
William Pierce Board Member 0
Officer
$0 $0 $0
Allegra Bidseye-Hannula Board Member 0
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 No data No data No data No data
2023 $280,950 $322,197 $230,538 $-41,247
2022 $332,890 $324,808 $257,104 $8,082
2021 $419,936 $267,043 $244,472 $152,893
2020 $320,610 $265,045 $88,915 $55,565
Explore More Nonprofits
→Top 100 Nonprofits in Minnesota →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare HOPEWELL MUSIC COOPERATIVE-NORTH with other nonprofits in Minnesota and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.