Hope for New York

Nonprofit profile at a glance

EIN
133713484
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
9172061440
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Public Foundations

Official website

Reported finances

Revenue
$5,130,809
Expenses
$5,455,126
Assets
$5,742,742
Liabilities
$2,168,238

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

Leadership & pay

14 people listed

Executive titles in this filing

  • UN MI ELISE CHONG (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • UN MI ELISE CHONG (CHIEF EXECUTIVE OFFICER): $285,719 total reported compensation
  • DAVID TEH-YU HUNG (CHIEF PROGRAMS OFFICER): $182,896 total reported compensation

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

Overview

Mission

Hope for New York's mission is to provide volunteers, grants and capacity building support to strengthen organizations serving poor and marginalized communities in New York city.

What it reported doing in 2024

Hope for New York connects volunteer and financial resources to organizations that serve poor and vulnerable communities in New York city. By connecting volunteers, grants and capacity building assistance to organizations, we effect positive and sustainable change in neighborhoods and communities throughout the city.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 52% for direct work, and 48% for grants.
  • 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: 84
  • Transparency & Controls: 81
  • Accountability: 86
  • Sustainability: 27
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.8%; rating input score 92
  • Program expense ratio: 86.1%; rating input score 86
  • Fundraising efficiency: $11.14 raised per $1 spent on fundraising; rating input score 41; 41st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.7%; rating input score 95; 25th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.2%; rating input score 99; 38th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.3%; rating input score 92; 23rd 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: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6.3%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 1.05; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 8.6%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 7.1% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 6.3% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: 91.8% of revenue deployed · 86.1% of spending went to programs
  • Governance: 12 of 13 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $4.7M in reported program spending
  • Leadership: top reported pay $286K · 14 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 38 of 39 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 71 filed money-flow records
  • Related organizations: 46 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 41/100.
  • High — Sustainability: Operating margin scored 18/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.