HOPE ENTERPRISE CORPORATION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- HOPE ENTERPRISE CORPORATION (EIN 64-0851798)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-17
- IRS object ID
- 202513219349312011
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule I
- Schedule J
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-17T12:55:41-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 410746749 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLIFTONLARSONALLEN LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 420 SOUTH ORANGE AVENUE SUITE 900 | AddressLine1Txt |
| City | ORLANDO | CityNm |
| State Abbreviation | FL | StateAbbreviationCd |
| ZIP | 32801 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 640851798 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HOPE ENTERPRISE CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | HOPE | BusinessNameControlTxt |
| Phone | 6019441100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4 OLD RIVER PLACE A | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 39202 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ALAN BRANSON | PersonNm |
| Person Title | CFO | PersonTitleTxt |
| Phone | 6019441100 | PhoneNum |
| Signature | 2025-11-17 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LACEY M QUATSOE | PreparerPersonNm |
| PTIN | P01300865 | PTIN |
| Phone | 4078021200 | PhoneNum |
| Preparation | 2025-11-17 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | WILLIAM BYNUM | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4 OLD RIVER PLACE A | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 39202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $50,302,000 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.HOPE-EC.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1993 | FormationYr |
| Legal Domicile State | MS | LegalDomicileStateCd |
| Activity Or Mission | STRENGTHEN FINANCIAL HEALTH OF PEOPLE IN UNDER-RESOURCED DEEP SOUTH COMMUNITIES | ActivityOrMissionDesc |
| Voting Members Governing Body | 21 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 21 | VotingMembersIndependentCnt |
| Total Employee | 62 | TotalEmployeeCnt |
| Total Volunteers | 21 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $14,660,408 | PYContributionsGrantsAmt |
| CY Contributions Grants | $41,317,659 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $4,322,212 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $4,717,918 | CYProgramServiceRevenueAmt |
| PY Investment Income | $16,884 | PYInvestmentIncomeAmt |
| CY Investment Income | -$4,230 | CYInvestmentIncomeAmt |
| PY Other Revenue | $424 | PYOtherRevenueAmt |
| CY Other Revenue | $737 | CYOtherRevenueAmt |
| PY Total Revenue | $18,999,928 | PYTotalRevenueAmt |
| CY Total Revenue | $46,032,084 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $1,928,210 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $731,524 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $5,208,296 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $6,883,489 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $615,120 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $17,986,684 | PYOtherExpensesAmt |
| CY Other Expenses | $19,830,903 | CYOtherExpensesAmt |
| PY Total Expenses | $25,123,190 | PYTotalExpensesAmt |
| CY Total Expenses | $27,445,916 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$6,123,262 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $18,586,168 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $122,583,166 | TotalAssetsBOYAmt |
| Total Assets EOY | $165,547,721 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $75,617,432 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $101,902,954 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $46,965,734 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $63,644,767 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | TO STRENGTHEN THE FINANCIAL HEALTH OF PEOPLE IN UNDER-RESOURCED DEEP SOUTH COMMUNITIES. | MissionDesc |
| Significant New Program Srvc | Yes (1) | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $9,796,438 | ExpenseAmt |
| Grant | $731,524 | GrantAmt |
| Revenue | $1,905,363 | RevenueAmt |
| Desc | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION SPECIALIZING IN COMMUNITY INFRASTRUCTURE LENDING TO EDUCATION AND HEALTH CARE FACILITIES, HEALTHY FOOD ACCESS PROVIDERS, AFFORDABLE HOUSING, AND LENDING TO SMALL AND MEDIUM SIZED BUSINESSES. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $8,267,835 | ExpenseAmt |
| Revenue | $2,742,910 | RevenueAmt |
| Desc | REGIONAL DEVELOPMENT OF SYSTEMS TO INCREASE OWNERSHIP, ENTREPRENEURSHIP, AND COMMUNITY INFRASTRUCTURE DEVELOPMENT BY EXPANDING ACCESS TO CAPITAL AND ADVISORY SERVICES. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $851,080 | ExpenseAmt |
| Revenue | $69,644 | RevenueAmt |
| Desc | HOUSING INITIATIVE PROVIDES FINANCE FOR AFFORDABLE HOUSING TO FAMILIES. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $420,381 | ExpenseAmt |
| Desc | TECHNICAL ASSISTANCE TO SMALL AND MEDIUM SIZED MANUFACTURING AND SERVICE BUSINESSES IN THE AREA OF MANAGEMENT CONSULTING AND IN THE AREAS OF IMPROVEMENTS OF PROCESSES AND SYSTEMS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $420,381 | TotalOtherProgSrvcExpenseAmt |
| Total Program Service Expenses | $19,335,734 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| Info In Schedule O Part V | Yes (X) | InfoInScheduleOPartVInd |
| IRP Document | 52 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 62 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 21 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 21 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (1) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | Yes (1) | WrittenPolicyOrProcedureInd |
| States Where Copy Of Return Is Fld | AL | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | AR | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | LA | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | MS | StatesWhereCopyOfReturnIsFldCd |
| States Where Copy Of Return Is Fld | TN | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ALAN BRANSON | PersonNm |
| Phone | 6019441100 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4 OLD RIVER PLACE | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 39202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (30 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|---|
| ROBERT GIBBS | |||||||
| CHAIR | 0.15 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| IVYE ALLEN | |||||||
| SECRETARY | 0.15 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| CLAIBORNE BARKSDALE | |||||||
| DIRECTOR | 0.15 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| MARC BARNES | |||||||
| DIRECTOR | 0.15 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| ANN MARIE BURGOYNE | |||||||
| DIRECTOR | 0.15 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| MAURICIO CALVO | |||||||
| DIRECTOR | 0.02 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| SUSANNAH CARRIER | |||||||
| DIRECTOR | 0.15 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| RONNIE CRUDUP | |||||||
| DIRECTOR | 0.08 | 0.04 | Yes (X) | $0 | $0 | $0 | |
| REBECCA DIXON | |||||||
| DIRECTOR | 0.08 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| HERSCHELL HAMILTON | |||||||
| DIRECTOR | 0.15 | 0.04 | Yes (X) | $0 | $0 | $0 | |
| CAROLYN JEFFERSON | |||||||
| DIRECTOR | 0.15 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| MAURICE JONES | |||||||
| DIRECTOR | 0.15 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| KENDRA KEY | |||||||
| DIRECTOR - AS OF 12/24 | 0.08 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| DAN LETENDRE | |||||||
| DIRECTOR | 0.15 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| BLANCHE LINCOLN | |||||||
| DIRECTOR | 0.02 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| FELECIA LUCKY | |||||||
| DIRECTOR | 0.15 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| FRED MILLER | |||||||
| DIRECTOR | 0.15 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| JUDY REESE MORSE | |||||||
| DIRECTOR | 0.15 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| JEFFREY NOLAN | |||||||
| DIRECTOR | 0.15 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| AISHA NYANDORO | |||||||
| DIRECTOR - AS OF 12/24 | 0.08 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| ALEX WISE | |||||||
| DIRECTOR | 0.15 | 0.00 | Yes (X) | $0 | $0 | $0 | |
| WILLIAM BYNUM | |||||||
| PRESIDENT/CEO | 27.54 | 0.10 | Yes (X) | $387,062 | $1,351 | $60,893 | |
| ALAN BRANSON | |||||||
| EVP/CFO/TREASURER/ASST SECRETARY | 19.76 | 0.06 | Yes (X) | $114,607 | $335 | $15,046 | |
| EDWARD D SIVAK JR | |||||||
| EVP/CHIEF POLICY & COMM. OFFICER | 27.95 | 0.00 | Yes (X) | $99,506 | $0 | $4,298 | |
| KIMBERLA LITTLE | |||||||
| EVP/CHIEF HUMAN ASSETS OFFICER | 21.54 | 0.00 | Yes (X) | $91,375 | $0 | $9,415 | |
| PEARL WICKS | |||||||
| EVP/CHIEF RETAIL OFFICER | 0.42 | 0.00 | Yes (X) | $2,213 | $0 | $72 | |
| CASSANDRA WILLIAMS | |||||||
| EVP/CHIEF LENDING OFFICER | 7.17 | 0.02 | Yes (X) | $30,854 | $0 | $1,331 | |
| JONATHAN MULKIN | |||||||
| EVP/CHIEF MORTGAGE OFFICER | 7.82 | 0.00 | Yes (X) | $43,121 | $0 | $1,252 | |
| CHLOE DOTSON | |||||||
| EVP/CHIEF PROGRAM & STRATEGY OFFICER | 27.02 | 1.44 | Yes (X) | $115,212 | $6,131 | $6,531 | |
| GOPAL NARASIMHAN | |||||||
| EVP/CHIEF DIGITAL & TECH. OFFICER | 11.07 | 0.00 | Yes (X) | $95,754 | $0 | $4,388 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $979,704 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $7,817 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $103,226 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 3 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| PURPOSE VENTURES ADVISORS LLC | |||||
| 228 PARK AVE S 53452 PMB NUMBER | NEW YORK | NY | 10003 | CONSULTING | $766,959 |
| SDS ADVANTAGE LLC | |||||
| 1281 WESTWOOD BLVD STE 200 | LOS ANGELES | CA | 90024 | CONSULTING | $408,634 |
| CLASSIC LAKE CONSULTING | |||||
| PO BOX 13122 | ATLANTA | GA | 30324 | CONSULTING | $382,813 |
| CLIFTONLARSONALLEN LLP | |||||
| PO BOX 679342 | DALLAS | TX | 75267 | ACCOUNTING | $294,812 |
| MOSAIC CONSULTING GROUP LLC | |||||
| PO BOX 306138 | NASHVILLE | TN | 37230 | CONSULTING | $109,938 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 5 | CntrctRcvdGreaterThan100KCnt |
| Government Grants | $5,536,705 | GovernmentGrantsAmt |
| All Other Contributions | $35,780,954 | AllOtherContributionsAmt |
| Total Contributions | $41,317,659 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| LOAN,ORIGIN,OTHER FEES | 525990 | $2,673,068 | $2,673,068 |
| INTEREST INCOME ON LOANS | 525990 | $2,044,850 | $2,044,850 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $4,717,918 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $21,224 | TotalRevenueColumnAmt |
| Exclusion | $21,224 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $4,244,462 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $4,269,916 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$25,454 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$25,454 | TotalRevenueColumnAmt |
| Exclusion | -$25,454 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OTHER INCOME | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $737 | TotalRevenueColumnAmt |
| Exclusion | $737 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $737 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $46,032,084 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $4,717,918 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | -$3,493 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $731,524 | TotalAmt |
| Program Services | $731,524 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,082,496 | TotalAmt |
| Program Services | $551,433 | ProgramServicesAmt |
| Management And General | $459,690 | ManagementAndGeneralAmt |
| Fundraising | $71,373 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,949,973 | TotalAmt |
| Program Services | $2,281,678 | ProgramServicesAmt |
| Management And General | $2,316,650 | ManagementAndGeneralAmt |
| Fundraising | $351,645 | FundraisingAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $82,772 | TotalAmt |
| Program Services | $37,682 | ProgramServicesAmt |
| Management And General | $41,122 | ManagementAndGeneralAmt |
| Fundraising | $3,968 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $369,800 | TotalAmt |
| Program Services | $177,176 | ProgramServicesAmt |
| Management And General | $165,657 | ManagementAndGeneralAmt |
| Fundraising | $26,967 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $398,448 | TotalAmt |
| Program Services | $187,271 | ProgramServicesAmt |
| Management And General | $183,286 | ManagementAndGeneralAmt |
| Fundraising | $27,891 | FundraisingAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $109,865 | TotalAmt |
| Management And General | $109,865 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $284,312 | TotalAmt |
| Management And General | $284,312 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $28,953 | TotalAmt |
| Management And General | $28,953 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,439,727 | TotalAmt |
| Program Services | $5,895,945 | ProgramServicesAmt |
| Management And General | $461,222 | ManagementAndGeneralAmt |
| Fundraising | $82,560 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,450 | TotalAmt |
| Program Services | $400 | ProgramServicesAmt |
| Management And General | $1,050 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $255,441 | TotalAmt |
| Program Services | $157,719 | ProgramServicesAmt |
| Management And General | $83,477 | ManagementAndGeneralAmt |
| Fundraising | $14,245 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $879,546 | TotalAmt |
| Program Services | $313,485 | ProgramServicesAmt |
| Management And General | $561,678 | ManagementAndGeneralAmt |
| Fundraising | $4,383 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $506,609 | TotalAmt |
| Program Services | $218,912 | ProgramServicesAmt |
| Management And General | $287,697 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $521,576 | TotalAmt |
| Program Services | $245,448 | ProgramServicesAmt |
| Management And General | $253,972 | ManagementAndGeneralAmt |
| Fundraising | $22,156 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $385,644 | TotalAmt |
| Program Services | $330,882 | ProgramServicesAmt |
| Management And General | $49,404 | ManagementAndGeneralAmt |
| Fundraising | $5,358 | FundraisingAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,426,623 | TotalAmt |
| Program Services | $52,829 | ProgramServicesAmt |
| Management And General | $1,373,794 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $374,443 | TotalAmt |
| Program Services | $20,383 | ProgramServicesAmt |
| Management And General | $354,060 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $240,147 | TotalAmt |
| Management And General | $240,147 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt | FundraisingFundraisingAmt |
|---|---|---|---|---|
| HFCU OPERATION SUPPORT | $7,433,233 | $7,433,233 | ||
| FORGIVABLE LOAN EXPENSE | $366,609 | $366,609 | ||
| SERVICE FEES | $302,729 | $128,060 | $174,669 | |
| MEMBERSHIP DUES & FEES | $86,164 | $60,013 | $21,581 | $4,570 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $187,832 | TotalAmt |
| Program Services | $145,052 | ProgramServicesAmt |
| Management And General | $42,776 | ManagementAndGeneralAmt |
| Fundraising | $4 | FundraisingAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,445,916 | TotalAmt |
| Program Services | $19,335,734 | ProgramServicesAmt |
| Management And General | $7,495,062 | ManagementAndGeneralAmt |
| Fundraising | $615,120 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,019,416 | BOYAmt |
| EOY | $60,025,885 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,336,542 | BOYAmt |
| EOY | $762,425 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,571,288 | BOYAmt |
| EOY | $3,220,561 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $152,694 | BOYAmt |
| EOY | $45,253 | EOYAmt |
Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,605,369 | BOYAmt |
| EOY | $12,971,925 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $462,692 | BOYAmt |
| EOY | $324,219 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $8,963,422 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $7,046,519 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,667,546 | BOYAmt |
| EOY | $1,916,903 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $29,060,416 | BOYAmt |
| EOY | $45,701,797 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,060,775 | BOYAmt |
| EOY | $35,060,775 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,646,428 | BOYAmt |
| EOY | $5,517,978 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $122,583,166 | BOYAmt |
| EOY | $165,547,721 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,052,188 | BOYAmt |
| EOY | $3,297,705 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,271,006 | BOYAmt |
| EOY | $17,596,261 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,114,197 | BOYAmt |
| EOY | $80,901,245 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,180,041 | BOYAmt |
| EOY | $107,743 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $75,617,432 | BOYAmt |
| EOY | $101,902,954 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $28,333,437 | BOYAmt |
| EOY | $41,544,318 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $18,632,297 | BOYAmt |
| EOY | $22,100,449 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $46,965,734 | BOYAmt |
| EOY | $63,644,767 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $122,583,166 | BOYAmt |
| EOY | $165,547,721 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $18,586,168 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $426,445 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$2,333,581 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | Yes (1) | FederalGrantAuditRequiredInd |
| Federal Grant Audit Performed | Yes (1) | FederalGrantAuditPerformedInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $37,689,400 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $15,416,499 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $12,778,063 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $14,660,408 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $13,317,659 | CurrentTaxYearAmt |
| Total | $93,862,029 | TotalAmt |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $5,631,546 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $9,495,555 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $3,651,179 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,322,212 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,717,918 | CurrentTaxYearAmt |
| Total | $27,818,410 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $43,320,946 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $24,912,054 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $16,429,242 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $18,982,620 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $18,035,577 | CurrentTaxYearAmt |
| Total | $121,680,439 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $30,356,060 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $11,454,557 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $5,740,714 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,357,040 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,773,143 | CurrentTaxYearAmt |
| Total | $58,681,514 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus2 Years | $491,468 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $399,976 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $445,239 | CurrentTaxYearAmt |
| Total | $1,336,683 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $30,356,060 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $11,454,557 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $6,232,182 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $6,757,016 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $5,218,382 | CurrentTaxYearAmt |
| Total | $60,018,197 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $61,662,242 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $661,943 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $74,478 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $20,656 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $20,700 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $21,224 | CurrentTaxYearAmt |
| Total | $799,001 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $661,943 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $74,478 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $20,656 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $20,700 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $21,224 | CurrentTaxYearAmt |
| Total | $799,001 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | -$558,154 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus2 Years | $14,119 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $424 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $737 | CurrentTaxYearAmt |
| Total | -$542,874 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $43,424,735 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $24,986,532 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $16,464,017 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $19,003,744 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $18,057,538 | CurrentTaxYearAmt |
| Total | $121,936,566 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.50570 | PublicSupportCY509Pct |
| Public Support PY509 | 0.46980 | PublicSupportPY509Pct |
| Investment Income CY | 0.00660 | InvestmentIncomeCYPct |
| Investment Income PY | 0.01280 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: | FormAndLineReferenceDesc |
| Explanation | MISCELLANEOUS LOSS - 2020 AMOUNT: $ -558,154. OTHER INCOME - 2022 AMOUNT: $ 1,208. 2023 AMOUNT: $ 424. 2024 AMOUNT: $ 737. CONTRACT REVENUE - 2022 AMOUNT: $ 10,000. HONORARIUMS - 2022 AMOUNT: $ 2,911. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
Total Direct Lobbying TotalDirectLobbyingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $0 | FilingOrganizationsTotalAmt |
Total Lobbying Expend TotalLobbyingExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $0 | FilingOrganizationsTotalAmt |
Other Exempt Purpose Expend OtherExemptPurposeExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $27,445,916 | FilingOrganizationsTotalAmt |
Total Exempt Purpose Expend TotalExemptPurposeExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $27,445,916 | FilingOrganizationsTotalAmt |
Lobbying Nontaxable Amount LobbyingNontaxableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $1,000,000 | FilingOrganizationsTotalAmt |
Grassroots Nontaxable GrassrootsNontaxableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $250,000 | FilingOrganizationsTotalAmt |
Tot Lbbyng Grassroot Mns Non Tx TotLbbyngGrassrootMnsNonTxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $0 | FilingOrganizationsTotalAmt |
Tot Lbby Expend Mns Lbbyng Non Tx TotLbbyExpendMnsLbbyngNonTxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $0 | FilingOrganizationsTotalAmt |
Avg Lobbying Nontaxable Amount AvgLobbyingNontaxableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $1,000,000 | CurrentYearMinus3Amt |
| Current Year Minus2 | $841,251 | CurrentYearMinus2Amt |
| Current Year Minus1 | $1,000,000 | CurrentYearMinus1Amt |
| Current Year | $1,000,000 | CurrentYearAmt |
| Total | $3,841,251 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Lobbying Ceiling | $5,761,877 | LobbyingCeilingAmt |
Avg Total Lobbying Expend AvgTotalLobbyingExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $28,802 | CurrentYearMinus3Amt |
| Total | $28,802 | TotalAmt |
Avg Grassroots Nontaxable AvgGrassrootsNontaxableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $250,000 | CurrentYearMinus3Amt |
| Current Year Minus2 | $210,313 | CurrentYearMinus2Amt |
| Current Year Minus1 | $250,000 | CurrentYearMinus1Amt |
| Current Year | $250,000 | CurrentYearAmt |
| Total | $960,313 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grassroots Ceiling | $1,440,470 | GrassrootsCeilingAmt |
Schedule D IRS990ScheduleD
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,004,386 | OtherCostOrOtherBasisAmt |
| Depreciation | $908,797 | DepreciationAmt |
| Book Value | $1,095,589 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $23,269 | OtherCostOrOtherBasisAmt |
| Depreciation | $22,325 | DepreciationAmt |
| Book Value | $944 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $5,969,476 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,321,902 | DepreciationAmt |
| Book Value | $647,574 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $966,291 | OtherCostOrOtherBasisAmt |
| Depreciation | $793,495 | DepreciationAmt |
| Book Value | $172,796 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $1,916,903 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SECONDARY CAPITAL OF HFCU | Desc |
| Book Value | $35,060,775 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $35,060,775 | TotalBookValueSecuritiesAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | LEASE LIABLILITY | Desc |
| Amt | $107,743 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $107,743 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART X, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE COMPANY HAS RECEIVED A RULING FROM THE INTERNAL REVENUE SERVICE FOR EXEMPTION FROM INCOME TAXES AS A PUBLIC CHARITY UNDER INTERNAL REVENUE CODE SECTIONS 501(C)(3) AND 509 (A)(2). POTENTIAL EXPOSURES INVOLVING TAX POSITIONS TAKEN THAT MAY BE CHALLENGED BY TAXING AUTHORITIES CONTAIN ASSUMPTIONS BASED UPON PAST EXPERIENCES AND JUDGMENTS ABOUT POTENTIAL ACTIONS BY TAXING JURISDICTIONS. MANAGEMENT DOES NOT BELIEVE THAT THE ULTIMATE SETTLEMENT OF THESE ITEMS WILL RESULT IN A MATERIAL AMOUNT. WITH MINIMUM EXCEPTIONS, THE COMPANY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS PRIOR TO 2019. | ExplanationTxt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (14 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| ALTCAP | ||||||||
| 300 EAST 39TH STREET | KANSAS CITY | MO | 64111 | 412183377 | 501(C)(4) | $140,000 | $0 | TECHNICAL ASSISTANCE TO SMALL BUSINESS |
| COMMUNITITES UNLIMITED INC | ||||||||
| 3 E COLT SQUARE DR | FAYETTEVILLE | AR | 72703 | 710464321 | 501(C)(3) | $70,000 | $0 | TECHNICAL ASSISTANCE TO SMALL BUSINESS |
| HOPE FEDERAL CREDIT UNION | ||||||||
| 4 OLD RIVER PL | JACKSON | MS | 39202 | 640865228 | $200,000 | $0 | PASS THROUGH FUNDING FROM CAPITAL ONE/ TIDES TO SUPPORT THE Y16 MORTGAGE PRODUCT | |
| PEOPLE TRUST | ||||||||
| 5300 W 65TH STREET | LITTLE ROCK | AR | 72209 | 262497096 | 501(C)(3) | $140,000 | $0 | TECHNICAL ASSISTANCE TO SMALL BUSINESS |
| SIGNATURE TRUSSEES LLC | ||||||||
| 724 EASTVIEW ST | JACKSON | MS | 39209 | 851827522 | $9,838 | $0 | BLACK OWNED BUSINESSES NEGATIVELY IMPACTED BY COVID | |
| THE BROLIN ROCHELLE BRAND | ||||||||
| 6 BARCLAY RD | MABELVALE | AR | 72103 | 853623329 | $7,274 | $0 | BLACK OWNED BUSINESSES NEGATIVELY IMPACTED BY COVID | |
| TM HEALTH & FITNESS | ||||||||
| 5354 ATLANTA HIGHWAY | MONTGOMERY | AL | 36109 | 420217641 | $7,778 | $0 | BLACK OWNED BUSINESSES NEGATIVELY IMPACTED BY COVID | |
| CUPCAKE CUTIE ETC LLC | ||||||||
| 300 S MAIN ST | MEMPHIS | TN | 38103 | 861501084 | $10,001 | $0 | BLACK OWNED BUSINESSES NEGATIVELY IMPACTED BY COVID | |
| FOOD4THOUGHT CONSULTING LLC | ||||||||
| 6730 ROYAL OAKS | ZACHARY | LA | 70791 | 843838770 | $7,248 | $0 | BLACK OWNED BUSINESSES NEGATIVELY IMPACTED BY COVID | |
| CAPITAL CITY MEDICAL TRANSPORTATION LLC | ||||||||
| 509 E BUFFWOOD DR | BAKER | LA | 70714 | 842927300 | $14,246 | $0 | BLACK OWNED BUSINESSES NEGATIVELY IMPACTED BY COVID | |
| TIME TO SPRING FORWARD LLC | ||||||||
| 113 SHOALWATER WAY | ROCKPORT | TX | 78382 | 871182690 | $6,114 | $0 | BLACK OWNED BUSINESSES NEGATIVELY IMPACTED BY COVID | |
| BEAS BAYOU USA LLC | ||||||||
| 5817 MARIGNY ST | NEW ORLEANS | LA | 70122 | 853595897 | $6,203 | $0 | BLACK OWNED BUSINESSES NEGATIVELY IMPACTED BY COVID | |
| LASHERYL COACHING AND COUNSELING | ||||||||
| 521 ERIN DR ST 771102 | MEMPHIS | TN | 38177 | 863181282 | $6,888 | $0 | BLACK OWNED BUSINESSES NEGATIVELY IMPACTED BY COVID | |
| CANSECO PROPERTIES FILMORE LLC | ||||||||
| 3135 ESPLANADE AVENUE | NEW ORLEANS | LA | 70119 | 852848915 | $100,000 | $0 | BUSINESS OPERATIONAL EXPENSES | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 3 | Total501c3OrgCnt |
| Total Other Org | 11 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | THE INVESTOR RELATIONS TEAM MONITORS GRANTS VIA REPORTING MODULES IN SALESFORCE ALONG WITH MONTHLY RECONCILIATIONS WITH THE GENERAL LEDGER SYSTEM MANAGED BY THE FISCAL TEAM. IN THE RECONCILIATION PROCESS, ALL ACTIVE GRANTS ARE REVIEWED ALONG WITH DISCUSSIONS ABOUT KEY TOPICS SUCH AS REVENUE RECOGNITION, GRANT EXPENDITURES, RESTRICTION RELEASES, AND DOCUMENTATION. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (1) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | WILLIAM BYNUM | PersonNm |
| Title | PRESIDENT/CEO | TitleTxt |
| Base Compensation Filing Org | $291,248 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $1,017 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $92,017 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $321 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $3,797 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $13 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $52,382 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $28 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $8,453 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $30 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $447,897 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $1,409 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 4B | HOPE ENTERPRISE CORPORATION (HOPE) WILL SET ASIDE AN AMOUNT EQUAL TO $25,000, AND AN ADDITIONAL $25,000 ON JANUARY 1 OF EACH SUBSEQUENT YEAR FOR A TOTAL OF $75,000 UNDER A 457(F) PLAN FOR THE CEO. |
| PART I, LINE 7 | THE CEO SHALL BE ELIGIBLE TO RECEIVE ANNUAL INCENTIVE COMPENSATION PAYMENT OF UP TO 30% OF HIS BASE SALARY PER ANNUM IN RELATIONSHIP TO THE ACHIEVEMENT OF FINANCIAL GOALS AND OBJECTIVES AS ESTABLISHED BY HOPE AT THE BEGINNING OF EACH FISCAL YEAR. THE BOARD, HOPE'S EXECUTIVE COMMITTEE, AND THE CEO SHALL ESTABLISH HOPE'S FINANCIAL GOALS AND OBJECTIVES. THE BOARD AND HOPE'S EXECUTIVE COMMITTEE (WITHOUT THE CEO) SHALL ESTABLISH THE AMOUNT OF INCENTIVE COMPENSATION PAYABLE TO THE CEO BASED ON THE EXTENT TO WHICH THE GOALS AND OBJECTIVES ARE ACHIEVED. IF HOPE AND THE CEO ARE UNABLE TO AGREE ON HOPE'S FINANCIAL GOALS AND OBJECTIVES FOR THE FISCAL YEAR, THE CEO WILL RECEIVE AN INCENTIVE COMPENSATION PAYMENT EQUAL TO TEN PERCENT (10%) OF HIS BASE SALARY FOR THAT FISCAL YEAR, PAYABLE AT THE END OF THAT FISCAL YEAR. FOR OTHER EMPLOYEES, HOPE MAY PROVIDE THE OPPORTUNITY TO EARN BONUSES BASED ON THEIR INDIVIDUAL PERFORMANCE AND ON THE CORPORATION'S OVERALL FINANCIAL PERFORMANCE. THE BONUSES ARE INTENDED TO DIRECT INDIVIDUAL AND CORPORATE PERFORMANCE AND REWARD EMPLOYEES FOR BEHAVIOR THAT CONTRIBUTES TO THE SUCCESS OF HOPE. PAYMENT MAY BE MADE QUARTERLY AND/OR ANNUALLY AND MAY BE BASED ON A COMBINATION OF INDIVIDUAL, TEAM, AND CORPORATE PERFORMANCE. THE STRUCTURE OF THE BONUSES WILL BE REVIEWED EACH YEAR BY SENIOR MANAGEMENT AND IS SUBJECT TO CHANGE. |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (10 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART III, LINE 2 | SOLAR FOR ALL: HOPE ENTERPRISE CORPORATION (HEC) WAS ONE OF 60 STATES, NONPROFITS AND MUNICIPALITIES THAT WAS AWARDED A SOLAR FOR ALL GRANT BY THE EPA. THE SOLAR FOR ALL AWARDS ARE PART OF THE LARGER GREENHOUSE GAS REDUCTION FUND AND ARE INTENDED TO FUND RESIDENTIAL-SERVING SOLAR PROJECTS THAT REDUCE HOUSEHOLD ENERGY COSTS FOR FAMILIES IN LOW-INCOME AND DISADVANTAGED COMMUNITIES (LIDACS) IN MISSISSIPPI AND ARKANSAS. |
| FORM 990, PART V, LINE 1A: | THE NUMBER OF EMPLOYEES LISTED AS BEING ON FORM W-3 IS THE TOTAL EMPLOYEE COUNT FOR THE FILING ORGANIZATION. WHILE HOPE ENTERPRISE CORPORATION IS THE COMMON PAYMASTER FOR RELATED AND UNRELATED ENTITIES, THE NUMBER OF EMPLOYEES FOR PART V, LINE 1A ONLY INCLUDES THE EMPLOYEE COUNT FOR THE FILING ORGANIZATION. |
| FORM 990, PART VI, SECTION A, LINE 1A | EXECUTIVE AND GOVERNANCE COMMITTEE MAY EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS TO THE EXTENT SPECIFIED BY THE BOARD OF DIRECTORS. A COMMITTEE MAY NOT, HOWEVER, AUTHORIZE DISTRIBUTIONS; APPROVE OR RECOMMEND DISSOLUTION, MERGER OR THE SALE, PLEDGE OR TRANSFER OF ALL OR SUBSTANTIALLY ALL OF THE CORPORATION'S ASSETS; ELECT, APPOINT OR REMOVE DIRECTORS OR FILL VACANCIES ON THE BOARD OF DIRECTORS OR ON ANY OF ITS COMMITTEES; OR ADOPT, AMEND, OR REPEAL THE ARTICLES OF INCORPORATION OR BYLAWS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS INITIALLY REVIEWED BY THE SVP FISCAL AND CFO. AFTER THEIR REVIEW, THE FORM 990 IS SHARED WITH THE GOVERNING BODY PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | EACH DIRECTOR, OFFICER, AND EMPLOYEE SHALL SIGN ANNUALLY A STATEMENT WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THIS CONFLICTS OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY AND HAS AGREED TO COMPLY WITH THIS POLICY. THE BOARD YEARLY MONITORS THE POLICY FOR ANY UPDATES THAT NEED TO BE MADE. IT IS REVIEWED BY HUMAN ASSETS, LEGAL AND COMPLIANCE WHEN CONFLICTS OF INTEREST (PERCEIVED OR POTENTIAL) ARE DISCLOSED BY THE INDIVIDUAL. THE COMPLIANCE DEPARTMENT AND HUMAN ASSESTS ARE RESPONSIBLE FOR ENFORCING COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. UPON THE FIRST KNOWLEDGE BY AN INTERESTED PERSON THAT THE ORGANIZATION IS CONSIDERING OR HAS CONSIDERED A TRANSACTION OR ARRANGEMENT WITH A TRANSACTION ENTITY OR INDIVIDUAL WITH WHICH THE INTERESTED PERSON HAS AN INTEREST, THE INTERESTED PERSON MUST DISCLOSE THE EXISTENCE AND NATURE OF HIS OR HER INTEREST TO THE PRESIDENT OR CHAIRMAN OF THE BOARD OF DIRECTORS. AFTER DISCLOSURE OF THE INTEREST, THE INTERESTED PERSON MAY NOT PARTICIPATE IN CONSIDERATION OF THE PROPOSED TRANSACTION OR ARRANGEMENT AND SHALL NOT BE PRESENT FOR THE CONSIDERATION OF OR VOTE ON SUCH TRANSACTION UNLESS THE PRESIDENT REQUESTS INFORMATION OR INTERPRETATION FROM THE INTERESTED PERSON. THE PRESIDENT SHALL THEN DETERMINE OR REFER TO THE CHAIRMAN OF THE BOARD AND/OR THE BOARD FOR DETERMINATION OF WHETHER THE TRANSACTION OR ARRANGEMENT IS IN HEC'S BEST INTERESTS AND IS FAIR AND REASONABLE TO HEC AND SHALL MAKE A DECISION WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN ACCORDANCE WITH SUCH DETERMINATION. WHEN THE PRESIDENT, CHAIRMAN OF THE BOARD OR THE BOARD MAKE A DETERMINATION AND DECISION ON THE INTEREST OF AN INTERESTED PERSON, THE MINUTES SHALL CONTAIN THE NAMES OF THE INTERESTED PERSON(S) WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE AN INTEREST, THE NATURE OF THE INTEREST, A RECORD OF ANY DETERMINATION AS TO WHETHER A TRANSACTION OR ARRANGEMENT WAS IN THE BEST INTERESTS OF AND FAIR AND REASONABLE TO HEC AND THE NAMES OF THE PERSONS WHO WERE PRESENT FOR THE DISCUSSIONS ON THE TRANSACTION OR ARRANGEMENT AND A RECORD OF ANY VOTES TAKEN IN CONNECTION THEREWITH. IF THE PRESIDENT, CHAIRMAN OF THE BOARD OR THE BOARD HAS REASONABLE CAUSE TO BELIEVE AN INTERESTED PERSON HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE INTEREST, HE, SHE OR THEY SHALL INFORM THE INTERESTED PERSON OF THE BASIS FOR SUCH BELIEF AND AFFORD THE INTERESTED PERSON AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF AFTER HEARING THE RESPONSE OF THE INTERESTED PERSON AND MAKING SUCH INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES, THE PRESIDENT, THE CHAIRMAN OF THE BOARD OR THE BOARD SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. |
| FORM 990, PART VI, SECTION B, LINE 15 | STRATEGIC PERFORMANCE GROUP WAS RETAINED TO COMPLETE A COMPENSATION REVIEW FOR HOPE ENTERPRISE CORPORATION/HOPE CREDIT UNION/HOPE POLICY INSTITUTE (HOPE). THE OBJECTIVE OF THE ENGAGEMENT WAS TO ESTABLISH A COMPETITIVE, EQUITABLE COMPENSATION AND BENEFITS STRUCTURE THAT ALLOWS HOPE TO ATTRACT AND RETAIN THE TALENT NECESSARY TO ADVANCE ITS MISSION. THE GOALS OF THE PROJECT WERE AS FOLLOWS: - ASSIST HOPE IN UPDATING ITS COMPENSATION PHILOSOPHY BASED ON THE UNIQUE MISSION, BUSINESS DRIVERS, AND BUSINESS MODEL OF THE ORGANIZATION. - ACHIEVE EXTERNAL EQUITY, ENSURING THAT HOPE STAFF ARE PAID FAIRLY AND COMPETITIVELY IN RELATION TO THE EXTERNAL MARKETPLACE. - ACHIEVE INTERNAL EQUITY, ENSURING THAT HOPE EMPLOYEES ARE PAID FAIRLY IN RELATION TO ONE ANOTHER. - DEVELOP A CONSISTENT METHODOLOGY FOR CLASSIFYING JOB LEVELS BASED ON ENTERPRISE-WIDE CRITERIA, JOB SCOPE, COMPLEXITY, AND KNOWLEDGE, SKILLS AND ABILITIES REQUIRED TO PERFORM THE WORK, WHICH PROMOTES TRUST AND CONFIDENCE IN THE ORGANIZATION'S COMPENSATION AND PROMOTIONS PROCESSES. - ESTABLISH SALARY BANDS FOR EACH JOB FAMILY WITH AN ENTRY, MID-LEVEL AND SENIOR LEVEL INTO WHICH ALL POSITIONS CAN BE GROUPED. - PROVIDE GUIDELINES TO HELP HOPE TO MAKE COMPENSATION DECISIONS BASED ON THE COMPENSATION PHILOSOPHY THAT ARE EQUITABLE, OBJECTIVE, AND TRANSPARENT. - RECOMMEND PAY MANAGEMENT PRACTICES GOVERNING SALARY INCREASES, MARKET ADJUSTMENTS, PROMOTIONS, VARIABLE COMPENSATION AND OTHER COMPENSATION ADMINISTRATION ISSUES. - ADVISE HOPE ON STRATEGIES TO RESPOND TO COMPENSATION CHALLENGES PRESENTED BY HIGH INFLATION, VOLATILITY IN THE LABOR MARKET, AND COMPRESSION BETWEEN SALARY RANGES DUE TO LABOR MARKET FORCES. - DEVELOP A COMMUNICATIONS STRATEGY TO INFORM AND EDUCATE STAFF REGARDING THE COMPENSATION PROGRAM, TAKING INTO ACCOUNT HOPE'S UNIQUE CULTURE AND COMPENSATION PHILOSOPHY. SOURCES OF DATA: DATA FROM PUBLISHED SURVEYS SERVED AS THE PRIMARY SOURCE OF INFORMATION IN BENCHMARKING HOPE POSITIONS. MARKET SALARIES WERE DETERMINED BY REVIEWING COMPENSATION DATA FROM THE EXTERNAL MARKET FOR ALL JOB LEVELS WITHIN EACH JOB FAMILY. DATA WAS EXTRACTED FROM THE FOLLOWING SOURCES: - U.S. MERCER BENCHMARK DATABASE: PARTICIPANTS CONSIST PRIMARILY OF CORPORATE (FOR PROFIT) ENTITIES LOCATED IN THE U.S. - HUMAN RESOURCES ASSOCIATION - NATIONAL CAPITAL AREA SALARY SURVEY: PARTICIPANTS CONSIST OF ORGANIZATIONS ACROSS ALL INDUSTRIES IN THE WASHINGTON, DC AREA INCLUDING NONPROFITS (DATA WAS ADJUSTED TO THE VARIOUS LABOR MARKETS WHERE HOPE EMPLOYEES WORK). - COMPANALYST ONLINE DATABASE: PARTICIPANTS CONSIST OF BOTH NONPROFIT AND FOR-PROFIT ORGANIZATIONS LOCATED IN THE U.S. - ECONOMIC RESEARCH INSTITUTE SALARY ASSESSOR: PARTICIPANTS CONSIST OF BOTH NONPROFIT AND FOR-PROFIT ORGANIZATIONS LOCATED IN THE U.S. - CREDIT UNION NATIONAL ASSOCIATION (CUNA) STAFF SALARY REPORT: PARTICIPANTS CONSIST OF CREDIT UNIONS IN THE U.S. WITH UNDER $50M IN ASSETS. - LOUISIANA CREDIT UNION LEAGUE & MISSISSIPPI CREDIT UNION ASSOCIATION COMPENSATION SURVEY: PARTICIPANTS CONSIST OF CREDIT UNIONS LOCATED IN LOUISIANA AND MISSISSIPPI. - AMERICAN BANKERS ASSOCIATION COMPENSATION AND BENEFITS SURVEY: PARTICIPANTS CONSIST OF BANKS LOCATED IN THE U.S., GROUPED BY ASSET SIZE - PRM MANAGEMENT COMPENSATION REPORT OF NOT-FOR-PROFIT ORGANIZATIONS: PARTICIPANTS CONSIST OF NON-PROFITS IN THE U.S. - IRS FORM 990 DATA FROM A SET OF HOPE COMPARATORS (FEDERALLY INSURANCE CREDIT UNIONS DESIGNATED AS SERVICING LOW-INCOME POPULATIONS EXECUTIVE POSITIONS ONLY). ALL COMPENSATION DECISIONS ARE DETERMINED BY THE HIRING MANAGER AND HUMAN ASSETS. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION CAN BE CONTACTED DIRECTLY IN ORDER TO REQUEST GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS. |
| FORM 990, PART VII, SECTION A: | THE FILING ORGANIZATION IS A COMMON PAYMASTER FOR RELATED AND UNRELATED ENTITIES (AS DEFINED IN FORM 990, SCHEDULE R). THE COMPENSATION FOR THE OFFICERS OF THE FILING ORGANIZATION IS REIMBURSED BY THE UNRELATED ORGANIZATION BUT IS NOT REIMBURSED BY THE RELATED ORGANIZATION. PART VII IS PRESENTED TO SHOW THE ALLOCATION BETWEEN THE TWO RELATED ENTITIES BASED ON TIME CARDS. THE UNRELATED PORTION IS NOT SHOWN. TOTAL W-2 COMPENSATION PAID TO THE OFFICERS IS AS FOLLOWS: WILLIAM BYNUM $647,369 ALAN BRANSON $263,369 JONATHAN MULKIN $237,021 PEARL WICKS $225,281 EDWARD D SIVAK JR $201,656 GOPAL NARASIMHAN $191,708 CASSANDRA WILLIAMS $189,425 KIMBERLA LITTLE $182,750 CHLOE DOTSON $121,342 |
| FORM 990, PART IX, LINE 11G | CONTRACT SERVICES CONSULTANTS: PROGRAM SERVICE EXPENSES 5,895,945. MANAGEMENT AND GENERAL EXPENSES 461,222. FUNDRAISING EXPENSES 82,560. TOTAL EXPENSES 6,439,727. |
| FORM 990, PART XI, LINE 9: | LOAN ALLOWANCE PROVISION -753,425. REFUND OF CONTRIBUTION -1,580,156. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HOME AGAIN INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4 OLD RIVER PLACE SUITE A | AddressLine1Txt |
| City | JACKSON | CityNm |
| State Abbreviation | MS | StateAbbreviationCd |
| ZIP | 39202 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 204526894 | EIN |
| Primary Activities | AFFORDABLE HOUSING DEVELOPMENT | PrimaryActivitiesTxt |
| Legal Domicile State | MS | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(3) | ExemptCodeSectionTxt |
| Public Charity Status | 10 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | HOPE ENTERPRISE CORPORATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
Id Related Org Txbl Partnership IdRelatedOrgTxblPartnershipGrp (23 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Predominant Income TypePredominantIncomeTypeTxt | Disproportionate AllocationsDisproportionateAllocationsInd | General Or Managing PartnerGeneralOrManagingPartnerInd | OwnershipOwnershipPct | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ECD INVESTMENTS LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 721376692 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 1.00000 | ||
| ECD ASSOCIATES LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 300224328 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.28570 | $5,337 | $625,205 |
| ECD NEW MARKETS LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 550787936 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.39940 | $10,421 | $1,257,648 |
| HOPE NEW MARKETS 5 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 364852627 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $69 | |
| HOPE NEW MARKETS 7 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 364852910 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | $3 | ||
| HOPE NEW MARKETS 8 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 352578311 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | $757 | ||
| HOPE NEW MARKETS 9 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 364853101 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | $15 | ||
| HOPE NEW MARKETS 10 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 611809803 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $18 | $787 |
| HOPE NEW MARKETS 12 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 611810268 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $4 | $978 |
| HOPE NEW MARKETS 13 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 352579556 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $6 | $779 |
| HOPE NEW MARKETS 14 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 352579181 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $3 | $685 |
| HOPE NEW MARKETS 15 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 831979734 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $4 | $1,371 |
| HOPE NEW MARKETS 16 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 842018487 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $2 | $687 |
| HOPE NEW MARKETS 17 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 842032672 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $5 | $978 |
| HOPE NEW MARKETS 18 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 842049645 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $1 | $692 |
| HOPE NEW MARKETS 19 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 842063274 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $4 | $1,383 |
| HOPE NEW MARKETS 20 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 842080890 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $3 | $20,790 |
| HOPE NEW MARKETS 21 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 872878161 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $5 | $595 |
| HOPE NEW MARKETS 23 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 872883088 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $743 | |
| HOPE NEW MARKETS 24 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 872883284 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $4 | $1,433 |
| HOPE NEW MARKETS 25 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 872883370 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $1 | $696 |
| HOPE NEW MARKETS 26 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 872913733 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $4 | $1,694 |
| HOPE NEW MARKETS 27 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 872914011 | COMMUNITY/BUS. DEVELOPMENT | MS | HOPE ENTERPRISE CORPORATION | RELATED | 0 | Yes (1) | 0.00010 | $2 | $673 |
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd | Direct Controlling NADirectControllingNACd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| HOPE NEW MARKETS 6 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 371842771 | COMMUNITY/BUS. DEVELOPMENT | MS | VHS INVEST | C | $12 | $1,093 | 0.00010 | 0 | |
| HOPE NEW MARKETS 11 LLC | |||||||||||||
| 4 OLD RIVER PLACE SUITE A | JACKSON | MS | 39202 | 320512233 | COMMUNITY/BUS. DEVELOPMENT | MS | C | $10 | $893 | 0.00010 | 0 | N/A | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (1) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (1) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | Yes (1) | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (4 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| HOPE NEW MARKETS 19 LLC | ||
| L | $66,000 | COST |
| HOPE NEW MARKETS 26 LLC | ||
| L | $572,889 | COST |
| HOPE NEW MARKETS 27 LLC | ||
| L | $233,500 | COST |
| HOME AGAIN INC | ||
| Q | $53,732 | COST |