Building Hope Impact Fund Inc

Nonprofit profile at a glance

EIN
882703870
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-N 2022
Location
Washington, DC, USA
Phone
2024571992
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$293,477
Expenses
$989,685
Assets
$107,485
Liabilities
$1,241,606

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • LANCE HELMING (PRESIDENT/TREASURER)

Highest reported compensation

  • RICHARD MORENO (DIRECTOR): $763,870 total reported compensation
  • DRU DAMICO (DIRECTOR): $705,893 total reported compensation
  • WILLIAM HANSEN (CHAIR/INTERIM CORP SECRETARY): $668,649 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Supporting the development and successful operation of schools and other educational organizations across the nation (charter, private and other grade schools, microschools, colleges, and universities); including to connect, collaborate, and celebrate education.

What it reported doing in 2024

Building hope supported the development and successful operation of schools and other educational organizations across the nation, including charter, private and other grade schools, microschools, colleges, and universities, with a particular focus on regions inhabited by low-income, minority, or other historically disadvantaged groups, by (a) providing grants, program related investments, and credit enhancements/guarantees to schools and other educational organizations; (b) helping schools and other educational organizations through the management and deployment of grant programs, program-related investments from philanthropic organizations, and support from other funders, including state and federal programs; (c) managing revolving loan funds on behalf of schools and other educational organizations, local community development organizations, philanthropy, and governmental entities; (d) helping schools and other educational organizations with back-office accounting, payroll and human resource support, and other operational services, along with site selection, building design, lease/purchase negotiations, financial consultation, construction management, to help them develop, build, operate, and maintain their school facilities; (e) conducting programs and performing outreach to improve academic achievement, stimulate economic development, promote career exploration and improve access to higher education for students at the schools; (f) supporting school leaders from across the nation to connect, collaborate, and celebrate education; and (f) acquiring, financing, developing, constructing, and/or leasing facilities for/to schools and other educational organizations, for academic and administrative purposes, as well as community development facilities and organizations (including affordable housing, medical centers, community centers, student housing, workforce low-income housing, training and certification organizations, all in furtherance of section 501(c)(3) charitable purposes, including to advance education, stimulate regional economic development, lessen the burdens of government, relieve poverty, eliminate prejudice, reduce neighborhood tension, and combat community deterioration.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 83% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 76
  • Accountability: 32
  • Sustainability: 6
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.5%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -237.2%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0.11; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 11.55; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 10.7%; rating input score 28; 28th percentile among comparable filings

Growth

  • Program expense growth: 25.3% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: -10.8% per year; rating input score 0; 5th percentile among comparable filings
  • Asset growth: -52.9% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.5% of spending went to programs
  • Governance: 0 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $984K in reported program spending
  • Leadership: top reported pay $764K · 6 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 14 filed money-flow records
  • Related organizations: 28 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 28/100.