2024-09-16T15:43:54-05:00 2023-12-31 411534805 CARPENTER EVERT & ASSOCIATES LTD 7760 FRANCE AVE S SUITE 940 BLOOMINGTON MN 55435 990 2023-01-01 411292817 HOPE COMMUNITY INC HOPE 6128748867 611 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 WILL DELANEY CO-EXECUTIVE DIRECTOR 6128748867 2024-09-10 1 0 NEAL EVERT P00046853 9528310085 2024-09-10 2023 2024-08-08 14:25:15Z WILL DELANEY 611 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 3529911 0 X WWW.HOPE-COMMUNITY.ORG X 1977 MN HOPE COMMUNITY CREATES CONNECTIONS THAT STRENGTHEN THE POWER OF COMMUNITY MEMBERS AND COMMUNITIES. HOPE CULTIVATES CNITY LEADERS, BUILD COMMUNITY CAPACITY, CARE FOR THE HOUSING AND COMMUNITY SPACES WE DEVELOP, AND PURSUE EQUITY AND DIVERSITY IN ALL THAT WE DO. 12 12 20 0 0 0 2228584 2343551 52773 944523 122855 35154 872617 206683 3276829 3529911 0 0 0 0 1766344 2067112 0 0 190434 2418645 2617200 4184989 4684312 -908160 -1154401 12896217 12000734 7832917 8005689 5063300 3995045 X HOPE COMMUNITY CREATES CONNECTIONS THAT STRENGTHEN THE POWER OF COMMUNITY MEMBERS AND COMMUNITIES. HOPE CULTIVATES COMMUNITY LEADERS, BUILDS COMMUNITY CAPACITY, CARES FOR THE HOUSING AND COMMUNITY SPACES IT DEVELOPS, AND PURSUE EQUITY AND DIVERSITY IN ALL IT DOES. 0 0 1459441 COMMUNITY ENGAGEMENT- HOPE HAS COMPLETED ITS 14TH GROWING SEASON IN THE COMMUNITY GARDENS, RENOVATED THE YOUTH GARDEN WITH WALKING PATHS, IRRIGATION AND AN ORCHARD. HOPE COMPLETED THE 4TH YEAR OF TRANSFORMATIONAL CREATIVE STRATEGIES TRAINING (TRCSTR) WITH 8 COMMUNITY ARTISTS WITH A FOCUS ON BIPOC ARTISTS, TO WORK EFFECTIVELY WITH COMMUNITY AND SOCIAL JUSTICE ORGANIZERS TO EMPLOY PUBLIC ART AS A STRATEGY FOR COMMUNITY BUILDING AND ORGANIZING.HOPE CONTINUES TO HOST AND ENGAGE COMMUNITY MEMBERS IN TWO ANNUAL CYCLES OF NEIGHBORHOOD DEVELOPMENT CENTER'S (NDC) "PLAN IT" TRAINING FOR ASPIRING ENTREPRENEURS TO DEVLOP BUSINESS PLANS AND NETWORKS OF SUPPORT. 278010 REAL ESTATE DEVELOPMENT-HOPE'S WORK WITH REAL ESTATE AND PUBLIC SPACE FEATURES AN INNOVATIVE, ENTREPRENEURIAL APPROACH TO COMMUNITY DEVELOPMENT, AND HOPE HAS DEVELOPED A CRITICAL MASS OF HOUSING, INDOOR AND OUTDOOR COMMUNITY SPACE (INCLUDING HOPE'S OFFICES AND COMMUNITY CENTER), AND SPACE FOR TWO NEIGHBORHOOD BUSINESSES THAT ARE CHANGING THE FACE OF A FORMERLY DEVASTATED NEIGHBORHOOD. SOUTH QUARTER, A MAJOR DEVELOPMENT (IN PARTNERSHIP WITH AEON) REFLECTS 20+ YEARS OF PERSISTENT VISION AND STRATEGY TO DEVELOP A CRITICAL MASS OF COMMUNITY-FOCUSED HOUSING ON ALL FOUR CORNERS OF THE PORTLAND AND FRANKLIN INTERSECTION. IN TOTAL, HOPE HAS DEVELOPED 237 UNITS OF HOUSING (70% AFFORDABLE, 30% MARKET RATE), 25,000 SQUARE FEET OF RETAIL, OFFICE AND COMMUNITY SPACE, AND 7,500 SQUARE FEET OF URBAN AGRICULTURE SPACE IN THE BLOCKS AROUND THAT INTERSECTION. IN 2023, HOPE AND THE CITY OF LAKES COMMUNITY LAND TRUST COMPLETED CONSTRUCTION ON THE LARGEST VACANT BUILDING IN THE CITY AT 628 EAST FRANKLIN, WHICH ARE SEVEN PERPETUALLY AFFORDABLE LAND TRUST CONDOMINIUM OPPORTUNITIES. 2164946 HOUSING AND ASSET MANAGEMENT- STABLE, HEALTHY AND AFFORDABLE HOUSING IN A SUPPORTIVE COMMUNITY ENVIRONMENT IS AN EFFECTIVE WAY FOR INDIVIDUALS AND FAMILIES TO MEET THE CHALLENGES OF POVERTY AND ISOLATION IN AN URBAN ENVIRONMENT. HOPE'S RELATIONSHIPS WITH RESIDENTS ARE ROOTED IN RESPECT AND MUTUAL ACCOUNTABILITY. HOPE'S PROPERTIES ARE MANAGED BY TWO PROFESSIONAL PROPERTY MANAGEMENT COMPANIES. AS A PROPERTY OWNER COMMITTED TO ITS BUILDINGS FOR THE LONG-TERM, HOPE IS RESPONSIBLE FOR THE TRADITIOANL DUTIES OF A REAL ESTATE ASSET MANAGER- FINANCIAL OVERSIGHT, SELECTION OF A PROPERTY MANAGER, COMPLIANCE WITH REGULATORY AGREEMENTS, CAPITAL IMPROVEMENT PLANNING, ETC. HOWEVER, JOPE'S APPROACH TO ASSET MANAGEMENT INVOLVES A MUCH BROADER UNDERSTANDING OF HOW TO MAINTAIN ITS REAL ESTATE AS A LONG-TERM ASSET. KEY TO THAT UNDERSTANDING IS RELATIONSHIP-MAINTAINING RELATIONSHIPS WITH RESIDENTS, FUNDERS, GOVERNMENT PARTNERS, NEIGHBORS, COMMUNITY MEMBERS, AND MANY OTHERS. HOPE IS INVOLVED WITH GROUPS SUCH AS THE LOCAL BUSINESS ASSOCIATION AND NEIGHBORHOOD ASSOCIATION. CONSIDERABLE EFFORT IS SPENT TO CONNECT THE DISTINCT FUNCTIONS OF HOPE'S COMMUNITY ENGAGEMENT AND PROPERTY MANAGEMENT WORK. 3902397 1 1 0 0 0 0 0 0 1 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 70 0 1 20 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X X THE ORGANIZATION 6128748867 611 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 ANI RYAN KOCH DIRECTOR 1.00 X 0 0 0 C TERRENCE ANDERSON DIRECTOR 1.00 X 0 0 0 CANDICE ROSALEZ SECRETARY 2.00 X X 0 0 0 OLIVIA JEFFERSON DIRECTOR 1.00 X 0 0 0 CLAIRE CHANG DIRECTOR 1.00 X 0 0 0 DAN MCLEAN DIRECTOR 1.00 X 0 0 0 JANETTE LAW FUNDRASING CHAIR 2.00 X X 0 0 0 KIA HAKIMI TREASURER 2.00 X X 0 0 0 LACORA BRADFORD KESTI CO-CHAIR 2.00 X X 0 0 0 MARIA PABON GAUTIER CO-CHAIR 2.00 X X 0 0 0 STEVE ROBINSON DIRECTOR 1.00 X 0 0 0 BROCKMAN SCHUMACHER DIRECTOR 1.00 X 0 0 0 SHANNON JONES PAST ED 40.00 X 91942 0 14379 WILL DELANEY INTERIM CO-ED 40.00 X 101808 0 10249 CHAKA MKALI INTERIM CO-ED 40.00 X 102643 0 9440 296393 0 34068 2 0 0 0 0 2343551 2343551 PROGRAM FEES 532000 944523 944523 944523 35154 28271 6883 MISCELLANEOUS 900099 206683 206683 206683 3529911 1179477 0 6883 1749765 1337248 289096 123421 166676 126038 28999 11639 150671 116504 23495 10672 228470 98247 93005 37218 17894 1296 9114 7484 342007 297140 44867 225377 225377 587087 587087 100992 87778 13214 OPERATING & MAINTENANCE 596857 596857 CLIENT SUPPORT SERVICES 176632 176632 BAD DEBT 118325 118325 REAL ESTATE TAXES 85425 85425 138134 48443 89691 4684312 3902397 591481 190434 1538037 385685 60872 674138 304238 397924 116896 157502 733064 733064 51438 43721 18195854 9940999 8773213 8254855 635047 643017 683412 710828 12896217 12000734 418878 385026 1009445 1117643 6292318 6415180 112276 87840 7832917 8005689 X 3648490 3417045 1414810 578000 5063300 3995045 12896217 12000734 -1154401 86146 0 X 0 1 X 1 0 X 3230060 2286990 2527627 2183484 2343551 12571712 3230060 2286990 2527627 2183484 2343551 12571712 2575946 9995766 116056 36016 26529 28761 35154 242516 36674 29662 20971 96219 206683 390209 13204437 4100131 0.75700 0.77500 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 1121007 1121007 15957893 8965053 6992840 1116954 975946 141008 8254855 ACCRUED INTEREST RECEIVABLE 378764 INVESTMENT IN LIMITED PARTNERSHIP 264936 DEFERRED DEVELOPER FEE 4562 UNEMPLOYMENT SERVICES TRUST 62566 710828 TENANTS' DEPOSITS 87840 87840 X 3616057 86146 86146 3529911 0 3529911 4684312 0 4684312 0 4684312 PART IV, LINE 2B: HOPE COMMUNITY IS THE MANAGING GENERAL PARTNER OF FRANKLIN PORTLAND GATEWAY PHASE III LIMITED PARTNERSHIP. THE PARTNERSHIP WAS FORMED TO CONSTRUCT, LEASE AND OPERATE A 41-UNIT APARTMENT BUILDING, KNOWN AS THE WELLSTONE, LOCATED IN MINNEAPOLIS. DURING THE CONSTRUCTION PHASE OF THE PROJECT, PARTNERSHIPS FUNDS WERE HELD AND DISBURSED BY A LOCAL TITLE COMPANY. WHEN CONSTRUCTION ENDED AND THE BUILDING PLACED IN SERVICE, ALL REMAINING FUNDS HELD BY THE TITLE COMPANY WERE TURNED OVER TO HOPE COMMUNITY AND PLACED IN A SEPARATE DEPOSITORY ACCOUNT. FUNDS ARE PERIODICALLY DISBURSED FROM THE ACCOUNT TO PAY FOR APPROVED PROJECT RELATED COSTS. PART X, LINE 2: THE ORGANIZATION HAS A TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS ADOPTED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, ASC 740-10. THE ORGANIZATION'S POLICY IS TO EVALUATE UNCERTAIN TAX POSITIONS, AT LEAST ANNUALLY, FOR THE POTENTIAL FOR INCOME TAX EXPOSURE FROM UNRELATED BUSINESS INCOME OR FROM LOSS OF NONPROFIT STATUS. THE ORGANIZATION CONTINUES TO OPERATE CONSISTENT WITH ITS ORIGINAL EXEMPTION APPLICATION AND EACH YEAR TAKES THE NECESSARY ACTIONS TO MAINTAIN ITS EXEMPT STATUS. IT HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER THE INTERNAL REVENUE CODE AND CHARITABLE CONTRIBUTIONS BY DONORS ARE TAX DEDUCTIBLE. FORM 990, PART VI, SECTION A, LINE 3 AEON MANAGEMENT HAS BEEN CONTRACTED TO MANAGE PROPERTIES OWNED BY HOPE AND FRANKLIN PORTLAND GATEWAY LIMITED PARTNERSHIPS FORM 990, PART VI, SECTION B, LINE 11B LINE 11B EXPLANATION - FORM 990 WILL BE PRESENTED TO BOARD FOR REVIEW AND APPROVAL AT NEXT SCHEDULED BOD MEETING OR VIA E-MAIL UPON RECEIPT OF DRAFT AUDIT AND FORM 990 AS PROVIDED BY AUDITOR. FORM 990, PART VI, SECTION B, LINE 12C CO-EXECUTIVE DIRECTORS ENSURE THAT ALL CONFLICT OF INTEREST QUESTIONNAIRES ARE COMPLETED, REVIEWED FOR CONFLICTS AND DISCUSSES WITH MEMBERS OF BOARD'S EXECUTIVE COMMITTEE FOR REVIEW OF ANY QUESTIONNAIRES THAT DISCLOSES ACTUAL OR POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE CO-EXECUTIVE DIRECTORS USE THE ANNUAL COMPENSATION INFORMATION PUT OUT BY MINNESOTA COUNCIL OF NONPROFITS IN ITS MINNESOTA NONPROFIT SALARY AND BENEFITS SURVEY AS A GUIDE IN DETERMINING SALARIES AND BENEFITS LEVELS FOR ALL POSITIONS, EXCLUDING THEIR OWN. FINAL COMPENSATION AMOUNTS ARE NEGOTIATED BETWEEN THE EXECUTIVE DIRECTOR AND EMPLOYEE. THE EXECUTIVE COMMITTEE OF THE BOARD DEVELOPED THE PROCESS FOR ESTABLISHING THE CO-EXECUTIVE DIRECTOR'S COMPENSATION AND ANNUAL PERFORMANCE REVIEW. THE CO-EXECUTIVE DIRECTORS AND BOARD CO-CHAIRS WRITE ABOUT RESULTS OF GOALS ESTABLISHED FOR THE YEAR. THE EXECUTIVE COMMITTEE DISCUSSES RESULTS AND DECIDES ON COMPENSATION AMOUNT. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST AND VIA THE CHARITIES REVIEW COUNCIL'S SMART GIVERS NETWORK. HOPE BLOCK STABALIZATION PHASE 1 LLC 611 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 371593246 ACQUIRE AND LEASE AFFORDABLE HOUSING MN DUNDRY HOUSE LLC 611 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 274944226 ACQUIRE AND LEASE AFFORDABLE HOUSING MN FRANKLIN PORTLAND GATEWAY PHASE I LP 611 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 542075020 ACQUIRE AND LEASE AFFORDABLE HOUSING MN FRANKLIN PORTLAND GATEWAY PHASE II LIMITED PARTNERSHIP 611 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 562369948 OWN AND OPERATE APARTMENT BUILDING TO PROVIDE AFFORDABLE HOUSING TO LOW AND MN RELATED 0 1 0.00010 FRANKLIN PORTLAND GATEWAY PHASE III LIMITED PARTNERSHIP 611 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 202351852 OWN AND OPERATE APARTMENT BUILDING TO PROVIDE AFFORDABLE HOUSING TO LOW AND MN RELATED 0 1 0.00010 FRANKLIN PORTLAND GATEWAY PHASE IV LIMITED PARTNERSHIP 611 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 260504632 OWN AND OPERATE APARTMENT BUILDING TO PROVIDE AFFORDABLE HOUSING TO LOW AND MN RELATED 0 1 0.00010 1 0 0 0 0 0 0 0 0 0 1 1 0 1 0 1 0 1 0 FRANKLIN PORTLAND GATEWAY PHASE I LIMITED PARTNERSHIP A BASED ON 2018 OPERATIONS FRANKLIN PORTLAND GATEWAY PHASE II LIMITED PARTNERSHIP K MONTHLY MASTER LEASE RENTS AND ES FRANKLIN PORTLAND GATEWAY PHASE III LIMITED PARTNERSHIP K MONTHLY MASTER LEASE RENTS AND ES FRANKLIN PORTLAND GATEWAY PHASE I LIMITED PARTNERSHIP L NUMBER OF UNITS, MGMT ESTIMATE FRANKLIN PORTLAND GATEWAY PHASE II LIMITED PARTNERSHIP L NUMBER OF UNITS, MGMT ESTIMATE FRANKLIN PORTLAND GATEWAY PHASE III LIMITED PARTNERSHIP L NUMBER OF UNITS, MGMT ESTIMATE FRANKLIN PORTLAND GATEWAY PHASE IV LIMITED PARTNERSHIP L 5% OF FPG ALLOCATED WAGE EXPENSE FRANKLIN PORTLAND GATEWAY PHASE I LIMITED PARTNERSHIP M PER TERMS OF OCCUPANCY AGREEMENT FRANKLIN PORTLAND GATEWAY PHASE I LIMITED PARTNERSHIP P 2019 OCCUPANCY COSTS PAID IN 2020 FRANKLIN PORTLAND GATEWAY PHASE I LIMITED PARTNERSHIP R COST TO TRANSFER LP INTEREST