NEW HOPE EDUCATION INC

EIN: 820598148 501(c)(3)

PLANO, TX

Total Revenue
$1,676,560
Total Expenses
$2,096,576
Total Assets
$67,387
Net Assets
$-834,151
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
TX
Principal Officer
JIM MIMS
Phone
2147043213
Tax Period
2022-06-01 to 2023-05-31

NEW HOPE EDUCATION INC, founded in 2017, is a community nonprofit that reported $1.7M in total revenue in fiscal year 2022. Revenue surged 33% from the prior year, signaling strong growth momentum. Expenses of $2.1M exceeded revenue, resulting in a 25% operating deficit.

Mission

NEW HOPE CHRISTIAN ACADEMY IS A SCHOOL OF ACADEMIC EXCELLENCE; COMMITTED TO DEVELOPING CHRISTIAN LEADERSHIP,COMPASSION FOR OTHERS, AND CULTIVATING GOD'S PURPOSE ACADEMICALLY AND SPIRITUALLY IN THE LIVES OF THE INDIVIDUAL STUDENT SERVED. THE SCHOOL IS DESIGNED TO MEET THE NEEDS OF FAMILIES WHO DESIRE AN EDUCATION FOR THEIR STUDENTS FROM A BIBLICAL PERSPECTIVE, AND TO PREPARE STUDENTS TO ENTER ADULTHOOD WITH ASSURANCE OF GOD'S PURPOSE FOR THEIR LIVES. OUR VISION INCLUDES PROVIDING A CHRISTIAN EDUCATION OF ACADEMIC EXCELLENCE TO MEET THE NEEDS OF ALL STUDENTS,REGARDLESS OF RACE, NATIONALITY, ETHNIC ORGIN, PHYSICAL CHALLENGES, OR ECONOMIC LIMITATIONS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $476,677
Program Service Revenue $1,216,222
Investment Income $-16,339
Other Revenue $0
TOTAL REVENUE $1,676,560

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,468,091
Fundraising Expenses $1,134
Program Expenses $1,820,719
Other Expenses $628,485
TOTAL EXPENSES $2,096,576

Year-over-Year Comparison

2022 2021 Change
Revenue $1,676,560 $1,257,886 +0.3%
Expenses $2,096,576 $1,231,293 +0.7%
Net Income $-420,016 $26,593 -16.8%
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
6
Independent Members
5
Employees
52
Volunteers
30

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
$34,087
Total Directors
6
$34,087
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JIM MIMS PRESIDENT 5.00
Officer Director
$0 $0 $0
MELISSA HAILEY SECRETARY 1.00
Officer Director
$0 $0 $0
TROY GEESAMAN MEMBER 1.00
Director
$0 $0 $0
RICHARD FRICKS MEMBER 1.00
Director
$0 $0 $0
AUSTIN STRATTON MEMBER 0.20
Director
$0 $0 $0
DIANA MIMS HEAD OF SCHOOL 60.00
Officer Director
$34,087 $0 $34,087
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 $1,676,560 $2,096,576 $67,387 $-420,016
2022 $1,257,886 $1,231,293 $339,066 $26,593
2021 $775,814 $925,623 $85,849 $-149,809
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