Hope Network Nonprofit Housing Corporation

Nonprofit profile at a glance

EIN
825308910
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Grand Rapids, MI, USA
Phone
6163018000
Rating
29
Verdict
REVIEW
Rating confidence
Moderate
Sector
Management & Technical Assistance
Affiliation
Christianity

Official website

Reported finances

Revenue
$38,543
Expenses
$1,048,039
Assets
$1,234,884
Liabilities
$6,540,296

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

Leadership & pay

7 people listed

Executive titles in this filing

  • ROBERT VONKAENEL JR (PRESIDENT)
  • TIMOTHY BECKER (VICE PRESIDENT AND SECRETARY)
  • ANTHONY BARKER (EXECUTIVE DIRECTOR OF HOUSING)

Highest reported compensation

  • ROBERT VONKAENEL JR (PRESIDENT): $423,350 total reported compensation
  • TIMOTHY BECKER (VICE PRESIDENT AND SECRETARY): $345,231 total reported compensation
  • HEATHER ZAK (FORMER TREASURER): $318,565 total reported compensation

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

Overview

Mission

In christian service, hope network empowers people to overcome challenges to achieve their highest level of independence.

What it reported doing in 2024

Hope network nonprofit housing corporation owns and operates low income housing in southwest Michigan. Hope network nonprofit housing coporation serves as a holding entity for properties primarily funded by government entities such as housing and urban development (hud) and Michigan state housing development authority (mshda). Housing is available to tenants on the basis of their income relative to area median income. Hope network nonprofit housing corporation provides affordable housing to individuals experiencing physical and emotional disabilities.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

REVIEW - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 60
  • Accountability: 37
  • Sustainability: 11
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Scored; rating input score 0

Accountability

  • Independent voting board: 0%; rating input score 0; 9th 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: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2,619.1%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 1.18; rating input score 27; 27th percentile among comparable filings
  • Liabilities to assets ratio: 5.3; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 31.7%; rating input score 10; 10th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 20.3% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 4.4% per year; rating input score 100; 63rd percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 0 of 3 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $423K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes executive pay and related organizations
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 45 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Transparency & Controls: Related-party transparency scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 27/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 10/100.