Project New Hope

Nonprofit profile at a glance

EIN
954337245
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Glendale, CA, USA
Phone
8185468929
Rating
87
Verdict
STRONG
Rating confidence
Moderate
Sector
AIDS

Official website

Reported finances

Revenue
$5,421,921
Expenses
$4,509,584
Assets
$11,465,675
Liabilities
$9,587,157

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

Leadership & pay

4 people listed

Executive titles in this filing

  • DAVID NAHAS (PRESIDENT)
  • BRIGITTE TWEDDELL (EXECUTIVE DIRECTOR)

Highest reported compensation

  • BRIGITTE TWEDDELL (EXECUTIVE DIRECTOR): $146,010 total reported compensation

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

Overview

Mission

Project new hope is a non-profit organization for the purpose of developing and providing permanent and transitional supportive housing to low-income, homeless and chronically homeless individuals and families with disabilities such as HIV/AIDS and seniors.

What it reported doing in 2024

Low income rental housing: the organization has developed and operates a 22-unit, and a 4-unit low-income rental housing project located in los angeles, California, both of which are dedicated to persons affected with HIV/AIDS and their families. The organization also manages and controls palos verdes street, lp which provides low-income rental housing in los angeles county and includes a 10-unit, low-income rental housing project known as san pedro new hope courtyard apartments located in los angeles, California. A regulatory agreement was entered into with the city and county of los angeles restricting the use of the properties as low-income housing.

Operating model

Revenue model
Grant-funded. 74% of the money available for current operations came from government grants.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 64
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.5%; rating input score 82
  • Program expense ratio: 97.5%; rating input score 98
  • 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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.8%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 2.54; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0.84; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 3.2%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 30th percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 81.5% of revenue deployed · 97.5% of spending went to programs
  • Governance: 3 of 3 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $4.4M in reported program spending
  • Leadership: top reported pay $146K · 4 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 7 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Sustainability: Liabilities to assets ratio scored 9/100.