Hope Re Foundation Inc

Nonprofit profile at a glance

EIN
873951685
IRS 990 coverage
2022–2022
Forms available
Form 990 2022, Form 990-N 2021
Location
White River Junction, VT, USA
Phone
8023563161
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$2,120,014
Expenses
$1,559,330
Assets
$705,584
Liabilities
$144,900

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • LEE-DAVID DU PLESSIS (PRESIDENT, TREASURER, DIRECTOR)

Highest reported compensation

  • LEE-DAVID DU PLESSIS (PRESIDENT, TREASURER, DIRECTOR): $32,110 total reported compensation
  • DEBORAH DU PLESSIS (VP, SECRETARY, DIRECTOR): $5,600 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Affordable housing for low-income families - the nonprofit will work with state housing programs to provide housing for homeless and those needing emergency housing.

What it reported doing in 2022

Provide affordable housing for low-income individuals. The nonprofit participated in the state housing program for homeless and those needing emergency housing meeting the state's requirements. In 2022, hope re foundation housed 106 households, totaling more than 152 people throughout the year at the 3 locations.

Operating model

Revenue model
Earned-program. 100% 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.

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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 90
  • Accountability: 52
  • Sustainability: 57
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.2%; rating input score 71
  • Program expense ratio: 96.9%; rating input score 97
  • Fundraising efficiency: Limited

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: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 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: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 26.4%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 0.45; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 46; 46th percentile among comparable filings
  • Officer compensation ratio: 2.4%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 71.2% of revenue deployed · 96.9% of spending went to programs
  • Governance: 1 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.5M in reported program spending
  • Leadership: top reported pay $32K · 3 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 4 filed schedules
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 46/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.