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Hope Community Development Association INC

Tax-deductible

Cedar Rapids, IA501(c)(3)Community DevelopmentEIN 27-2950701

Equipping individuals to transform their lives through gainful employment and skillful living and to provide assistance to lower income families in need of housing.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Run by 50 volunteers and 30 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $76K a year · 9% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $127K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$930K
71% of total assets
Worth a look: liabilities are 71% of assets; over 65%.
Pt X · Ln 26
Independent board members
8
of 9 voting members
Looks good: 8 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+33% vs prior year
Spent
$1.1M
To programs
82%
Net assets
$387K
By yearFY2019–FY2024
Revenue
$1.2M
FY2024▲ +33%
Revenue by fiscal year
FY2019$400K
FY2020$648K
FY2021$783K
FY2022$924K
FY2023$923K
FY2024$1.2M
Expenses
$1.1M
FY2024▲ +28%
Expenses by fiscal year
FY2019$352K
FY2020$486K
FY2021$692K
FY2022$940K
FY2023$872K
FY2024$1.1M
Net assets
$387K
FY2024▲ +43%
Net assets by fiscal year
FY2019−$29K
FY2020$134K
FY2021$195K
FY2022$158K
FY2023$271K
FY2024$387K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2011.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $913K Management & general 16% · $181K Fundraising 2% · $18K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Kim Reem
Director
$0Pt VII · Sec A
Phil Resin
Director
$0Pt VII · Sec A
Summer Riley
Director
$0Pt VII · Sec A
Trent Tuel
Director
$0Pt VII · Sec A
Mike Johnson
Chairman
$0Pt VII · Sec A
Terry Knake
Vice-Chairman
$0Pt VII · Sec A
Ken Kolek
Treasurer
$0Pt VII · Sec A
See Hope Community Development Association INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Helps people find jobs and housing, empowering them to improve their lives.

Provided by the organization

This section is blank until Hope Community Development Association INC claims this page.

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3 program services account for $913K of program spending, described in the organization's own filed words · FY2024.
01

Acquisition and refurbishment of blighted houses to be sold to low-to-moderate income families. And, home buyer closing cost/down payment assistance.

$755Kprogram expense
02

Supportive housing for participants in the life transformation and career training program. Life skills classes.

$91Kprogram expense
03

Career training including on the job experience in construction landscaping, as well as job preparation classes.

$68Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Donor Advised Charitable Giving INCFY2024$44K
Natl Christian Charitable Fdn INCFY2024$37K
Housing Fund for Linn CountyFY2024$25K
Mercy Medical CenterFY2024$15K
Fidelity Investments Charitable Gift FundFY2024$6K
Total grants receivedfrom 5 funders$127K
See all 5 funders →
Grants paid · 2 grants · $9K · 2022–2022
Unitemized GrantFY2022$5,500
Unitemized GrantFY2022$3,145

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$598K
Fees for servicesLn 2g$596K
Other incomeLn 4–11$35K
Money outPt IX
$1.1M
Ln 25
Programscol B$913K
Managementcol C$181K
Fundraisingcol D$18K
Owns and owesPt X
$387K
net assets · Ln 32
Cash and savingsLn 1–2$69K
Total assetsLn 16$1.3M
LiabilitiesLn 26$930K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$598K
Government grantsLn 1e$106K
Fundraising eventsLn 1c$209K
Fees for servicesLn 2g$596K
Investment incomeLn 3$10
Other incomeLn 4–11$35K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$69K
SavingsLn 2$200
Cash and savings togetherLn 1–2$69K
Land, buildings, equipmentLn 10c$628K
Other assetsLn 15$1K
Total assetsLn 16$1.3M
LiabilitiesLn 26$930K
Net assetsLn 32$387K
OperationsPt I, VI
EmployeesI 530
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$21K$69K
Land, buildings, equipmentLn 10c$536K$628K
Total assetsLn 16$1.2M$1.3M
LiabilitiesLn 26$903K$930K
Net assetsLn 32$271K$387K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$619K$557K$62K
Other employee benefitsLn 9$27K$25K$2K
Payroll taxesLn 10$66K$60K$7K
Accounting feesLn 11c$12K$878$11K
Professional fundraising feesLn 11e$18K$18K
Office expensesLn 13$53K$9K$44K
OccupancyLn 16$41K$26K$15K
TravelLn 17$18K$16K$2K
InterestLn 20$11K$8K$3K
Depreciation, depletion and amortizationLn 22$41K$31K$10K
InsuranceLn 23$93K$67K$26K
Other expenses (24a–d)Ln 24$114K$113K$483
Total functional expensesLn 25$1.1M$913K$181K$18K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.2M$1.1M$116K$387K 990 PDF
FY2023 $923K$872K$51K$271K 990 PDF
FY2022 $924K$940K−$16K$158K 990 PDF
FY2021 $783K$692K$92K$195K 990 PDF
FY2020 $648K$486K$163K$134K 990 PDF
FY2019 $400K$352K$48K−$29K 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
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,228,787 across 10 lines filed
Lines not itemized here account for $37,643 of total revenue; see the IRS return.
VIII-1a Federated campaigns$39,074
VIII-1c Fundraising events$208,744
VIII-1e Government grants$105,648
VIII-1f All other contributions, gifts and grants$244,245
VIII-1h Total contributions, gifts and grants$597,711
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $589,922$589,922
VIII-3 Investment incomeRelated to mission $10$10
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,501$3,501
VIII-12 Total revenueRelated to mission $631,076 · Unrelated business $0 · Excluded from tax $0$1,228,787
Part IX · Statement of functional expenses $1,112,554 across 12 lines filed
IX-7 Other salaries and wagesPrograms $557,064 · Management $61,896$618,960
IX-9 Other employee benefitsPrograms $25,422 · Management $1,681$27,103
IX-10 Payroll taxesPrograms $59,712 · Management $6,635$66,347
IX-11c Accounting feesPrograms $878 · Management $10,884$11,762
IX-11e Professional fundraising feesFundraising $18,257$18,257
IX-13 Office expensesPrograms $9,059 · Management $44,079$53,138
IX-16 OccupancyPrograms $26,085 · Management $15,158$41,243
IX-17 TravelPrograms $16,486 · Management $1,832$18,318
IX-20 InterestPrograms $7,573 · Management $3,172$10,745
IX-22 Depreciation, depletion and amortizationPrograms $30,589 · Management $9,973$40,562
IX-23 InsurancePrograms $66,908 · Management $25,644$92,552
IX-24 Other expenses (24a–d)Programs $113,084 · Management $483$113,567
IX-25 Total functional expensesPrograms $912,860 · Management $181,437 · Fundraising $18,257$1,112,554
Part X · Balance sheet $1,316,792 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $20,915$69,197
X-2 Savings and temporary cash investmentsStart of year $200$200
X-3 Pledges and grants receivableStart of year $150,618$358,765
X-4 Accounts receivableStart of year $10,669$54,471
X-8 Inventories for sale or useStart of year $408,453$166,561
X-9 Prepaid expenses and deferred chargesStart of year $46,692$39,017
X-10c Land, buildings and equipment, netStart of year $535,524$627,581
X-15 Other assetsStart of year $1,000$1,000
X-16 Total assetsStart of year $1,174,071$1,316,792
X-17 Accounts payable and accrued expensesStart of year $24,581$22,360
X-19 Deferred revenueStart of year $165,202$373,348
X-25 Other liabilitiesStart of year $6,019$8,752
X-26 Total liabilitiesStart of year $903,022$929,510
X-27 Net assets without donor restrictionsStart of year $271,049$387,282
X-32 Total net assets or fund balancesStart of year $271,049$387,282
X-33 Total liabilities and net assetsStart of year $1,174,071$1,316,792
Part XI · Reconciliation of net assets $387,282 net assets at year end
XI-1 Total revenue$1,228,787
XI-2 Total expenses$1,112,554
XI-3 Revenue less expenses$116,233
XI-4 Net assets at start of year$271,049
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$387,282

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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