High Hopes Inc

Nonprofit profile at a glance

EIN
621210720
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Franklin, TN, USA
Phone
6156615437
Rating
87
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$4,504,944
Expenses
$5,402,364
Assets
$9,259,615
Liabilities
$2,198,342

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

Leadership & pay

21 people listed

Executive titles in this filing

  • GREG FREEZE (PRESIDENT (END 7/25))
  • RICKY SCOTT (VICE PRESIDENT/PRESIDENT)
  • ALLEN LONG (EXECUTIVE DIRECTOR (END 4/25))

Highest reported compensation

  • ALLEN LONG (EXECUTIVE DIRECTOR (END 4/25)): $139,895 total reported compensation
  • KRISTIN GARNER (SR. DIRECTOR OF OPERATIONS): $106,115 total reported compensation
  • MARY BETH GATES (DIRECTOR OF FINANCE): $55,240 total reported compensation

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

Overview

Mission

Equip children, youth, and their families with skills necessary to achieve success through education, therapeutic services, and loving support.

What it reported doing in 2024

High hopes' preschool provides a one-of-a-kind preschool experience that blends education, therapy, and community. Our inclusive program welcomes children ages six weeks through pre-k, creating classrooms where children of all abilities learn and grow together. By combining the expertise of teachers and therapists, we ensure children build the confidence, curiosity, and connections they need for lifelong learning. Our comprehensive, play-based curriculum is designed to promote academic, social-emotional, and developmental growth - meeting every child exactly where they are and supporting them as they reach new milestones.

Operating model

Revenue model
Earned-program. 78% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 94
  • Accountability: 91
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.5%; rating input score 89
  • Fundraising efficiency: $3.43 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.9%; rating input score 93; 23rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -19.9%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 1.71; rating input score 56; 56th percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 5.3%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 8.6% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 6.4% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 12.1% per year; rating input score 100; 66th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 88.5% of spending went to programs
  • Governance: 13 of 14 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $4.8M in reported program spending
  • Leadership: top reported pay $140K · 21 people listed
  • Consistency: 35 of 35 current checks pass
  • Schedules: 9 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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 — Financial Efficiency: Fundraising efficiency scored 10/100.
  • High — Sustainability: Operating margin scored 7/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 56/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.