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Hope Fieldhouse FY2020 filing

Tax-deductible

Rosemount, MN501(c)(3) EIN 82-2221390Revenue $231K in FY2020

On file with the IRShopefieldhouse.org2645 145th St W, 55068-4927 · Rosemount, MNTax-exempt since Mar 2018Publicly supported charity — 170(b)(1)(A)(vi)

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The Hope Fieldhouse mission is to enhance and enrich the lives of children and their families within our community by providing a quality athletic facility that is purposeful, safe and fun.

501(c)(3) charity; gifts are tax-deductible.
43¢ of each $1 spent went to programs.
$60K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · 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
0 of 5
filings with a surplus
Average deficit $189K a year · 25% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
43%
of spending
Concern: 43% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$60K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 4.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $24
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4.8M
95% of total assets
Concern: liabilities are 95% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$231K
Spent
$461K
To programs
43%
Net assets
$280K
By yearFY2020–FY2024
Revenue
$231K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$231K
FY2021$816K
FY2022$865K
FY2023$869K
FY2024$949K
Expenses
$461K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$461K
FY2021$1.0M
FY2022$1.0M
FY2023$1.1M
FY2024$1.1M
Net assets
$280K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$280K
FY2021$109K
FY2022−$35K
FY2023−$222K
FY2024−$391K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2018.

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

Where the money goes

43 cents of each dollar spent went to programs.

Program services 43% · $197K Management & general 57% · $262K Fundraising 0% · $2K

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

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Who runs it and what they're paid

4 people listed on the 990; $60K paid to officers and key staff.

Part VII, Section A · reportable compensation
Josh Schoaf
Executive Director
$60,000Pt VII · Sec A
Scott Schoaf
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Daniel Corley
Executive Director
$0Pt VII · Sec A
See Hope Fieldhouse 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 15aNo

Programs and updates

Provides a safe, fun athletic facility to enrich children and families' lives.

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Provided by the organization

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1 program · $197K · in their own filed words · FY2020
01

In 2019-2020 hope fieldhouse continued its capital campaign to raise additional funds for the facility. A financing agreement was approved in november 2019 to begin construction on the facility that will be used to carry out hope fieldhouses mission.

$197Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2023
Amazonsmile FoundationFY2023$24
Total grants receivedfrom 1 funder$24

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$231K
Ln 12
Gifts and grantsLn 1h$160K
Fees for servicesLn 2g$63K
Other incomeLn 4–11$8K
Money outPt IX
$461K
Ln 25
Programscol B$197K
Managementcol C$262K
Fundraisingcol D$2K
Owns and owesPt X
$280K
net assets · Ln 32
Cash and savingsLn 1–2$190K
Total assetsLn 16$5.1M
LiabilitiesLn 26$4.8M
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$160K
Government grantsLn 1e$3K
Noncash giftsLn 1g$2K
Fundraising eventsLn 1c$24K
Fees for servicesLn 2g$63K
Investment incomeLn 3$11
Other incomeLn 4–11$8K
Total revenueLn 12$231K
Assets in detailPt X, end of year
CashLn 1$190K
Cash and savings togetherLn 1–2$190K
Land, buildings, equipmentLn 10c$4.8M
Total assetsLn 16$5.1M
LiabilitiesLn 26$4.8M
Net assetsLn 32$280K
OperationsPt I, VI
EmployeesI 513
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$186K$190K
Land, buildings, equipmentLn 10c$4.8M
Total assetsLn 16$670K$5.1M
LiabilitiesLn 26$160K$4.8M
Net assetsLn 32$509K$280K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$2K$2K
Pay of current officers, directors and key staffLn 5$45K$45K
Other salaries and wagesLn 7$164K$164K
Payroll taxesLn 10$16K$16K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$14K$14K
Professional fundraising feesLn 11e$2K$2K
Other fees for servicesLn 11g$1K$1K
Advertising and promotionLn 12$12K$12K
Office expensesLn 13$37K$37K
Information technologyLn 14$6K$6K
OccupancyLn 16$95K$95K
Depreciation, depletion and amortizationLn 22$52K$52K
InsuranceLn 23$11K$11K
Other expenses (24a–d)Ln 24$1K$247$1K
Total functional expensesLn 25$461K$197K$262K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $949K$1.1M−$170K−$391K 990 PDF
FY2023 $869K$1.1M−$183K−$222K 990 PDF
FY2022 $865K$1.0M−$175K−$35K 990 PDF
FY2021 $816K$1.0M−$188K$109K 990 PDF
FY2020 Viewing $231K$461K−$230K$280K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $231,296 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $215,649$159,868
I-9 Program service revenue$63,227
I-10 Investment income$11
I-11 Other revenue$8,190
I-12 Total revenuePrior year $215,649$231,296
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$1,500
I-15 Salaries and benefitsPrior year $1,360$225,397
I-16a Professional fundraising fees$2,100
I-17 Other expensesPrior year $7,614$231,949
I-18 Total expensesPrior year $8,974$460,946
I-19 Revenue less expensesPrior year $206,675−$229,650
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $231,296 across 10 lines filed
Lines not itemized here account for −$2,628 of total revenue; see the IRS return.
VIII-1a Federated campaigns$97,335
VIII-1c Fundraising events$23,780
VIII-1e Government grants$3,000
VIII-1f All other contributions, gifts and grants$35,753
VIII-1g Noncash contributions (included above)$1,875
VIII-1h Total contributions, gifts and grants$159,868
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $63,227$63,227
VIII-3 Investment incomeRelated to mission $11$11
VIII-6 Net rental income or lossUnrelated business $10,818$10,818
VIII-12 Total revenueRelated to mission $56,360 · Unrelated business $15,068 · Excluded from tax $0$231,296
Part IX · Statement of functional expenses $460,946 across 15 lines filed
IX-4 Benefits paid to or for membersPrograms $1,500$1,500
IX-5 Pay of current officers, directors and key staffManagement $44,540$44,540
IX-7 Other salaries and wagesManagement $164,375$164,375
IX-10 Payroll taxesManagement $16,482$16,482
IX-11b Legal feesManagement $3,038$3,038
IX-11c Accounting feesManagement $13,910$13,910
IX-11e Professional fundraising feesFundraising $2,100$2,100
IX-11g Other fees for servicesManagement $1,070$1,070
IX-12 Advertising and promotionPrograms $11,513$11,513
IX-13 Office expensesPrograms $37,176$37,176
IX-14 Information technologyManagement $6,126$6,126
IX-16 OccupancyPrograms $94,771$94,771
IX-22 Depreciation, depletion and amortizationPrograms $51,764$51,764
IX-23 InsuranceManagement $11,313$11,313
IX-24 Other expenses (24a–d)Programs $247 · Management $1,021$1,268
IX-25 Total functional expensesPrograms $196,971 · Management $261,875 · Fundraising $2,100$460,946
Part X · Balance sheet $5,090,313 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $186,118$189,771
X-3 Pledges and grants receivableStart of year $96,000$78,917
X-9 Prepaid expenses and deferred charges$52,819
X-10c Land, buildings and equipment, net$4,768,806
X-16 Total assetsStart of year $669,734$5,090,313
X-17 Accounts payable and accrued expensesStart of year $357$90,000
X-19 Deferred revenueStart of year $60,000$56,360
X-24 Unsecured notes and loans payable$272,800
X-26 Total liabilitiesStart of year $160,357$4,810,586
X-32 Total net assets or fund balancesStart of year $509,377$279,727
X-33 Total liabilities and net assetsStart of year $669,734$5,090,313
Part XI · Reconciliation of net assets $279,727 net assets at year end
XI-1 Total revenue$231,296
XI-2 Total expenses$460,946
XI-3 Revenue less expenses−$229,650
XI-4 Net assets at start of year$509,377
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$279,727

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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