H O P E INC FY2020 filing
Provides affordable housing for families with limited incomes. For fiscal year 2020 it reported $-497K in revenue, $200K in expenses, and $2.1M in net assets.Pt I
- Founded
- 1989
- Type
- Public charity (501(c)(3)) · Nonprofit
- Location
- New London, CT
- Website
- www.hopenewlondon.org
- Filings
- 6 on file (2020–2020)
More identity details & actions ⌄
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Summary of the Filing
Where the work happens
Rental Housing
Two three-family houses are being rented to low-income families who participate in a program to help them become homeowners. Six apartments are rented in this program. Two additional two-family properties have been purchased and renovated and those four units are rented to very low-income families.
Home-Ownership Housing
The construction of a new two-family home was completed and it was sold to a low-income family with the additional apartment rented to a very-low income family. Another two-family home was renovated and sold to a moderate-income family with an apartment rented to a low-income FAMILY.THE renovation of a three-family home was also begun.
Rental Housing
Two three-family houses are being rented to low-income families who participate in a program to help them become homeowners. Six apartments are rented in this program. Two additional two-family properties have been purchased and renovated and those four unites are rented to very low-income families.
Education- individuals and families were guided in basic steps to take in order to find affordable housing and to buy homes on their own.
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Identity & Classification
Governance & Policies
Officers, Directors & Key Employees
Compensation history total reportable pay by year · 5 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Stacey Smith | $80,250 | $80,250 | $49,625 | — | — | — |
| Marilyn M Graham | — | — | — | $80,250 | $77,250 | — |
| Marilyn M Graham | — | — | — | — | — | $80,250 |
| Marilyn Graham | — | — | $38,625 | — | — | — |
| Michelle a Drayton | — | — | — | — | — | $555 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Statement of Functional Expenses
Balance Sheet
Financial Metrics
Same NTEE category, revenue band, and state where available. Descriptive — not a grade.
| Metric | This org | Peer median | Percentile |
|---|---|---|---|
| Program ratio | 69% | — | — |
| Overhead ratio | 26% | — | — |
| Fundraising cost ratio | 48% | — | — |
| Investment management fee ratio | 0% | — | — |
| Legal fee ratio | 0% | — | — |
| Accounting fee ratio | 0% | — | — |
| Fundraising fee ratio | 0% | — | — |
Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.
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Filings & Schedule Manifest
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