Urban Hope Inc
Nonprofit profile at a glance
- EIN
- 541997025
- IRS 990 coverage
- 2018–2024
- Forms available
- Form 990 2024, Form 990-EZ 2017, Form 990-N 2013
- Location
- Richmond, VA, USA
- Phone
- 8043962198
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Housing Development, Construction, Management
Reported finances
- Revenue
- $1,940,201
- Expenses
- $1,409,099
- Assets
- $6,391,036
- Liabilities
- $3,187,282
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
11 people listed
Executive titles in this filing
- Sarah Hale (President)
Highest reported compensation
- Sarah Hale (President): $113,526 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The primary focus of Urban Hope is to partner with families who seek affordable rental housing and/or home ownership.
What it reported doing in 2024
Highlights of Urban Hopes program accomplishments for 2024: By the end of 2024, Urban Hope provided 35 units of rental housing, with 104 tenants housed throughout the year and living in stable, safe, affordable housing. With tremendous community support, Urban Hope kept 90% of our tenants stably and safely housed throughout the last year. Several of our clients moved from unstable circumstances and escaped displacement by transitioning into our rentals. Urban Hope completed its second new construction project on a land bank lot awarded by the City of Richmond, hired two new staff members, completed a capital campaign for our HW renovations, and were awarded over $1M in competitive grants for the preservation of 16 of our units. Urban Hope maintained partnership with 52 private lenders, which supported the purchase and renovation of properties. Urban Hope continued its successful financial cohort program, matching their savings 5:1, and reducing client debt, helping secure a drivers license and a new car, and much more. We continued offering financial health to the public as well. Urban Hope made great strides towards our mission of making home a cornerstone of opportunity by keeping it affordable.
Operating model
- Revenue model
- Donor-supported. 82% of the money available for current operations came from contributions and gifts.
- 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 - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 62
- Transparency & Controls: 92
- Accountability: 100
- Sustainability: 70
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 55.2%; rating input score 55
- Program expense ratio: 76%; rating input score 76
- Fundraising efficiency: $17.3 raised per $1 spent on fundraising; rating input score 54; 54th 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: 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: 27.4%; rating input score 83; 83rd percentile among comparable filings
- Total-asset coverage ratio: 4.54; rating input score 83; 83rd percentile among comparable filings
- Liabilities to assets ratio: 0.5; rating input score 16; 16th percentile among comparable filings
- Officer compensation ratio: 8.1%; rating input score 43; 43rd percentile among comparable filings
Growth
- Program expense growth: 29.1% per year; rating input score 100; 90th percentile among comparable filings
- Revenue growth: 28.3% per year; rating input score 100; 91st percentile among comparable filings
- Asset growth: 30.4% per year; rating input score 100; 91st percentile among comparable filings
Details
- Where the money goes: 55.2% of revenue deployed · 76% of spending went to programs
- Governance: 11 of 11 board members independent · 8 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $1.1M in reported program spending
- Leadership: top reported pay $114K · 11 people listed
- Consistency: 21 of 21 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 7 filing years from 2018 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.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Financial Efficiency: Mission deployment rate scored 55/100.
- Review — Financial Efficiency: Fundraising efficiency scored 54/100.
- High — Sustainability: Liabilities to assets ratio scored 16/100.
- Moderate — Sustainability: Officer compensation ratio scored 43/100.