H O P E INC FY2021 filing

Tax-deductible

New London, CT501(c)(3)Since 1989EIN 06-1269812

H.O.P.E.'s mission is to provide homeownership opportunities to low to moderate income families. We seek to revitalize neighborhoods without gentrification.

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
$77K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Is it a real charity?
501(c)(3)
not on the IRS revocation list
IRS BMF · Auto-Revocation List
Are gifts tax-deductible?
Yes
Donations are tax-deductible
IRS Pub. 78 · IRS BMF
Is it filing on time?
FY2025
latest Form 990
IRS e-file · Filing history
Is it financially stable?
4 of 6
years in the black
Pt I · Ln 19 · 6 filings
How much reaches the programs?
70%
of spending
Pt IX · Ln 25 · col B
What are leaders paid?
$77K
to officers and key staff · 38% of spending
Pt VII · Sec A
Do they have reserves?
68 mo
of spending, in cash
Pt X · Ln 1–2 · Pt I · Ln 18
Do they carry debt?
$51K
liabilities
Pt X · Ln 26
Who oversees it?
13
independent of 13 voting board members
Pt VI · Ln 1a–1b
Revenue
$435K
+188% vs prior year
Spent
$202K
To programs
70%
Net assets
$2.4M
By yearFY2020–FY2025
Revenue
$435K
FY2021▲ +188%
Revenue by fiscal year
FY2020−$497K
FY2021$435K
FY2022−$10K
FY2023$255K
FY2024$752K
FY2025$717K
Expenses
$202K
FY2021▲ +1%
Expenses by fiscal year
FY2020$200K
FY2021$202K
FY2022$209K
FY2023$214K
FY2024$231K
FY2025$252K
Net assets
$2.4M
FY2021▲ +12%
Net assets by fiscal year
FY2020$2.1M
FY2021$2.4M
FY2022$2.2M
FY2023$2.2M
FY2024$2.8M
FY2025$3.2M

From the FY2021 Form 990 · see the original

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Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Yes — filed FY2025
Legal name (IRS)Hdr · item CH O P E INC
EINHdr · item D06-1269812
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 1994
Year of formationHdr · item L1989
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CNew London, CT
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jwww.hopenewlondon.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.70 Management & general $0.26 Fundraising $0.04
Program services70%$141K
Management & general26%$52K
Fundraising4%$9K
Total functional expensesLn 25$202K

Financial health

Is it on solid ground?

Program efficiency
70%
of spending reaches programs
Operating runway
68.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
+54%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$2.4M
FY2021▲ +12%
Total assets by fiscal year
FY2020$2.2M
FY2021$2.4M
FY2022$2.2M
FY2023$2.3M
FY2024$2.8M
FY2025$3.2M
Total liabilities
$51K
FY2021▲ +15%
Total liabilities by fiscal year
FY2020$45K
FY2021$51K
FY2022$36K
FY2023$18K
FY2024$22K
FY2025$21K
Revenue less expensesPt I · Ln 19$233K
Total assetsPt X · Ln 16$2.4M
Program-expense ratioPt IX · col B70%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 413

Balance Sheet

Part X · end of year
CashLn 1$1.1M
Total assetsLn 16$2.4M
Total liabilitiesLn 26$51K
Total net assetsLn 32$2.4M
Months of cash on handcomputed68.2

Statement of Revenue

Part VIII
Contributions & grants$356K · 82%
Program service revenue$77K · 18%
Contributions & grants82%$356K
Program service revenue18%$77K
Investment income$2K
Total revenueLn 12$435K

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.1M · Operating expenses/yr $202K
68.2 months
Where the money goes
Program services
Program services $141K · Total expenses $202K
70%
Management & General
Management & general $52K · Total expenses $202K
26%
Fundraising
Fundraising $9K · Total expenses $202K
4%
Cost to raise $1
Fundraising expense (2-yr avg) $4K · Solicited contributions (2-yr avg) $178K
$0.02 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $356K · Total revenue $435K
82%
Government reliance
Government grants — · Total revenue $435K
—
Earned-income share
Program service revenue $77K · Total revenue $435K
18%
Investment reliance
Investment income $2K · Total revenue $435K
+0.4%
Program self-sufficiency
Program service revenue $77K · Total expenses $202K
38%
Growth & trend
Revenue growth (YoY)
This year $435K · Prior year −$497K
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $2.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $435K · Expenses $202K
+54%
Liabilities-to-Assets
Total liabilities — · Total assets $2.4M
—
Net-asset ratio
Net assets $2.4M · Total assets $2.4M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $2.4M
0%
People & payroll
Highest Reported Total Compensation
Individual Marilyn M Graham · Reported title E.D./Secretary · Highest reported compensation $77K · Total expenses $202K
38%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $83K · Total expenses $202K
41%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 70%——
Overhead ratio 26%——
Fundraising cost ratio 2%——
Revenue growth 188%——
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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
E.d./Secretary
$77,250Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
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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Governance & Policies

Part VI
  • 13Voting board membersPt VI · Ln 1a
  • 13Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Provides affordable housing for families with limited incomes.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $141K of program spending, described in the organization's own filed words · FY2021.
01

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 being rented to very-low-income families.

$97Kprogram expense
02

Home Ownership Housing- The renovation of a three-family home was undertaken. This home will be sold to a moderate-income family with one apartment to be rented to a low-income family and the other apartment to be rented to a very-low-income family.The plans for the construction of a new two-family home were developed, approved and put…

$40Kprogram expense
03

Education

Individuals and families were guided in basic steps to take in order to find affordable housing and to buy homes on their own.

$4Kprogram expense

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Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $717K$252K-5% 990 PDF
FY2024 $752K$231K+195% 990 PDF
FY2023 $255K$214K×27 990 PDF
FY2022 −$10K$209K-102% 990 PDF
FY2021 Viewing $435K$202K+188% 990 PDF
FY2020 −$497K$200K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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