HOPE NETWORK NONPROFIT HOUSING COR… - Form 990 Financial Data

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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

2018

Legal Domicile

Principal Officer

NATHAN TER BEEK

Phone

6163018000

Tax Period

2023-10-01 to 2024-09-30

HOPE NETWORK NONPROFIT HOUSING CORPORATION, founded in 2018, is a micro nonprofit in the Housing & Shelter sector that reported $41K in total revenue in fiscal year 2023. Revenue surged 248% from the prior year, signaling strong growth momentum. Expenses of $875K exceeded revenue, resulting in a 2050% operating deficit.

Mission

IN CHRISTIAN SERVICE, HOPE NETWORK EMPOWERS PEOPLE TO OVERCOME CHALLENGES TO ACHIEVE THEIR HIGHEST LEVEL OF INDEPENDENCE.

Program Service Accomplishments

Program 1

HOPE NETWORK NONPROFIT HOUSING CORPORATION OWNS AND OPERATES LOW INCOME HOUSING IN SOUTHWEST MICHIGAN. HOPE NETWORK NONPROFIT HOUSING COPORATION SERVES AS A HOLDING ENTITY FOR PROPERTIES PRIMARILY...

HOPE NETWORK NONPROFIT HOUSING CORPORATION OWNS AND OPERATES LOW INCOME HOUSING IN SOUTHWEST MICHIGAN. HOPE NETWORK NONPROFIT HOUSING COPORATION SERVES AS A HOLDING ENTITY FOR PROPERTIES PRIMARILY FUNDED BY GOVERNMENT ENTITIES SUCH AS HOUSING AND URBAN DEVELOPMENT (HUD) AND MICHIGAN STATE HOUSING DEVELOPMENT AUTHORITY (MSHDA). HOUSING IS AVAILABLE TO TENANTS ON THE BASIS OF THEIR INCOME RELATIVE TO AREA MEDIAN INCOME. HOPE NETWORK NONPROFIT HOUSING CORPORATION PROVIDES AFFORDABLE HOUSING TO INDIVIDUALS EXPERIENCING PHYSICAL AND EMOTIONAL DISABILITIES.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $40,704

Other Revenue $0

TOTAL REVENUE $40,704

Expense Breakdown

Grants Paid $0

Salaries & Benefits $609,414

Fundraising Expenses $0

Other Expenses $265,684

TOTAL EXPENSES $875,098

Year-over-Year Comparison

	2023	2022	Change
Revenue	$40,704	$11,703	+2.5%
Expenses	$875,098	$869,643	+0.0%
Net Income	$-834,394	$-857,940	0.0%

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

Governance

Voting Members

Independent Members

N/A

Employees

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

$1,160,781

Total Directors

$1,007,842

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT VONKAENEL JR	PRESIDENT	0.30	Officer Director	$0	$13,308	$487,783
TIMOTHY BECKER	VICE PRESIDENT AND SECRETARY	0.30	Officer Director	$0	$19,900	$306,456
HEATHER ZAK	TREASURER	0.30	Officer Director	$0	$9,683	$213,603
ANTHONY BARKER	EXECUTIVE DIRECTOR OF HOUSING	40.00	Officer	$144,615	$8,324	$152,939
NATHAN TRATHEN	BUSINESS DIRECTOR	40.00	Highest	$106,240	$5,386	$111,626
WILLIAM ANSTEY	FORMER TREASURER	0.30		$0	$3,451	$125,848
PHILLIP W WEAVER	FORMER PRESIDENT	0.30		$0	$443	$200,010

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	$40,704	$875,098	$1,189,480	$-834,394
2023	$11,703	$869,643	$1,143,305	$-857,940
2022	$100,417	$826,563	$1,111,684	$-726,146
2021	No data	$1,017,561	$1,009,438	No data
2020	No data	$1,112,504	$1,008,320	No data

HOPE NETWORK NONPROFIT HOUSING CORPORATION