2023-06-29T13:47:11-07:00 2022-12-31 201403280 FULTON & KOZAK LLC 7187 JONESBORO RD STE 100A MORROW GA 30260 990 2022-01-01 954378084 OPERATION HOPE INC OPER 4049412919 191 PEACHTREE STREET NE 3840 ATLANTA GA 30303 BRIAN BETTS PRESIDENT/CFO 2023-06-29 true BRIAN BETTS 999009999 true SHEILA M KOZAK CPA P00687026 7709614200 3 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z BRIAN BETTS 191 PEACHTREE STREET NE 3840 ATLANTA GA 30303 38394389 false X WWW.OPERATIONHOPE.ORG X 1992 CA Operation HOPEs mission is to expand economic opportunity in underserved communities through financial education and empowerment by offering programs that create stabilized communities and financial stakeholders. 11 10 355 498 0 45433407 38330680 0 -7810 52909 2142 10800 45427739 38394389 1817016 1467714 0 18111421 22633701 0 2094735 6028047 11980399 25956484 36081814 19471255 2312575 42513861 45411250 7522773 8840845 34991088 36570405 X Operation HOPEs mission is to expand economic opportunity in underserved communities through financial education and empowerment by offering programs that create stabilized communities and financial stakeholders. false false 21699397 916967 Adult HOPE Inside gives clients the resources to improve their financial situations. Through our 700-credit score initiative, we approve clients as soon as they seek assistance, commit to the resolution of primary credit denial factors, and raised FICO scores an average of 42 points. Programs offered: Financial Literacy Workshops, Entrepreneurial Training and counseling for Foreclosure Prevention, Money Management, Homeownership, Small Business, and Credit & Money Management. In 2022, HOPE provided 176,880 adult services and expanded our HOPE Inside network to 230 locations. Our clients achieved the following: Increased savings by $1,100, reduced debt by $1,944, and obtained $103 million in mortgage loans. 2320165 70000 1MBB HOPEs 1 Million Black Businesses initiative (1MBB) provides the black community a successful path to wealth creation through sustainable and profitable business ownership. 1MBB participants can take advantage of coaching and educational services, access to expert volunteers and more. The 1MBB Initiative is an extension of the HOPE Small Business program with access to additional resources as made possible by support from key 1MBB partners. HOPEs team of dedicated Small Business Coaches can help entrepreneurs and new or existing small business owners identify their key needs and then provide the education, coaching and connections needed to improve their businesses. From program inception to date, HOPE has supported more than 169,087 unique black-owned businesses, which accounts for approximately 5% of all black-owned businesses in the U.S. 2084837 198722 Disaster HOPE is a national partner of FEMA, addressing financial disaster preparedness, response, and recovery. Other disaster partners include the American Red Cross, the Economic Development Administration (EDA), corporations, and other volunteer organizations. Since 2001, HOPE has helped over 1.5 million individuals with pre-disaster financial preparedness and counseling, post disaster financial recovery, and FEMA application assistance to families affected in 148 major disasters across 30 states and Puerto Rico. Through 2022, HOPE provided 65,472 disaster recovery services. 3624339 282025 29728738 true true false false false false false false false false true false false false true true true false false false false false false false false false false true true true false false false false false false false true true false false false true false false false false true 172 0 false 355 true false true OC false false false false false 0 false false false false false false false X 11 10 false false true false false false false true true false false true true true true true true true true false AK AL AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MO MS NC ND NH NJ NM NV NY OH OK OR PA RI SC TN UT VA WA WI WV X X X BRIAN BETTS PRESIDENT CFO 4049412920 191 PEACHTREE ST STE 3840 ATLANTA GA 30303 X JOHN BRYANT Chairman/CEO 40.00 0.00 X X 633555 0 21768 BRIAN BETTS PRESIDENT/CFO 40.00 0.00 X 461747 0 17307 RACHAEL DOFF SEVP/CAO 40.00 0.00 X 375941 0 16799 MARY HAGERTY EVP, PARTNERSHIP 40.00 0.00 276898 0 20545 LANCE TRIGGS EVP, PROGRAMS 40.00 0.00 279503 0 13338 KEVIN BOUCHER EVP, CHIEF ADVOCACY OFFICER 40.00 0.00 285880 0 3877 JENNIFER WOLFORD EVP, CHIEF INNOVATION OFFICER 40.00 0.00 222759 0 6408 JENA ROSCOE SVP, GOVERNMENT AFFAIRS 40.00 0.00 211214 0 11567 NICOLE PIETRO SVP, CHIEF DEVELOPMENT OFFICER 40.00 0.00 183472 0 15081 ELAINE HUNGENBERG EVP, HOPE R&I 40.00 0.00 138665 0 4164 WILLIAM FAIR DIR OF PRODUCT DEV 40.00 0.00 133375 0 8552 HANNAH MCFADDEN SVP HOPE R&I 40.00 0.00 124934 0 10045 EVELYN DUCOULOMBIER SVP, C&C AFFAIRS 40.00 0.00 122391 0 9510 EDWIN SALAKO SVP, INFO TECH 40.00 0.00 111342 0 8873 LISA BORDERS BOARD MEMBER 1.00 0.00 X 0 0 0 MICHAEL AROUGHETI BOARD MEMBER 1.00 0.00 X 0 0 0 BRYAN JORDAN BOARD MEMBER 1.00 0.00 X 0 0 0 TIM WELSH BOARD MEMBER 1.00 0.00 X 0 0 0 JEFF SCHMID BOARD MEMBER 1.00 0.00 X 0 0 0 JED YORK BOARD MEMBER 1.00 0.00 X 0 0 0 TIMOTHY WENNES BOARD MEMBER 1.00 0.00 X 0 0 0 BRAD HANSON BOARD MEMBER 1.00 0.00 X 0 0 0 FRANK MARTELL BOARD MEMBER 1.00 0.00 X 0 0 0 STEPHEN RYAN ESQ BOARD MEMBER 1.00 0.00 X 0 0 0 3561676 167834 24 false true false ROB MCGREW 8306 WILSHIRE BLVD SUITE 484 BEVERLY HILLS CA 90211 CONSULTATION 125600 JODI SMITH 8033 W SUNSET BLVD 1021 LOS ANGELES CA 90046 DIGITAL PROGRAM 138600 2 7383667 30947013 2273980 38330680 0 52909 52909 0 0 10800 10800 10800 10800 0 0 0 0 0 38394389 63709 X 35985 35985 1431729 1431729 0 0 3729510 2139761 796356 793393 0 15755749 13977277 1200058 578414 0 1765008 1402924 266478 95606 1383434 1177527 140765 65142 0 56936 56936 65700 65700 0 0 0 5500541 4460450 887986 152105 348762 220727 93735 34300 649777 473692 87836 88249 0 0 368615 226303 142312 580469 347704 56120 176645 0 1291418 1264953 26465 161141 161141 0 673129 617484 39265 16380 276116 212059 43568 20489 COMPUTER EXPENSES 594497 533120 49309 12068 CONTRACT LABOR 558878 421341 117363 20174 IN-KIND GOODS 473980 465960 8020 TELECOMMUNICATION 319459 271423 35633 12403 60981 48319 9760 2902 36081814 29728738 4258341 2094735 2324675 3014159 9465561 1586286 27990096 32656929 0 0 0 0 0 170612 196166 7484862 3475944 2204693 4008918 333603 2047917 0 0 0 24621 1900875 42513861 45411250 3219410 4194680 352570 3950793 2702371 1943794 7522773 8840845 X -1121776 -777074 36112864 37347479 34991088 36570405 42513861 45411250 X 2312575 -132012 -601246 X false true X true true true X 18672742 18619174 25431479 45308407 38330680 146362482 0 0 18672742 18619174 25431479 45308407 38330680 146362482 37197783 109164699 264 13689 21106 5234 63709 104002 0 1321 5295 642 7258 146473742 0.74530 0.71220 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1100000 1100000 700000 5128 694872 980478 768407 212071 4547509 2679806 1867703 156875 22603 134272 4008918 OPERATING LEASES LIABILITY 1943794 1943794 X 53958807 15564418 15564418 38394389 38394389 52379490 15564418 733258 16297676 36081814 36081814 Part X : FIN48 Footnote HOPEs application of ASC 740 regarding uncertain tax positions had no effect on its financial position as management believes HOPE has no material unrecognized income tax benefits, including any potential risk of loss of its not-for-profit status. HOPE would account for any potential interest or penalties related to possible future liabilities for unrecognized income tax benefits as income tax expense. HOPE is no longer subject to examination by federal, state or local tax authorities for periods before 2019. Part XII, Line 2d: Other expenses and losses per audited F/S BAD DEBT $601246 UNREALIZED LOSS $132012 true MORGAN STATE UNIVERSITY 1700 E COLD SPRING LANE BALTIMORE MD 21251 526002033 501(C)(3) 35985 0 ECONOMIC ADJUSTMENT ASSISTANCE 1 0 CLIENT ASSISTANCE-CCAP 636 874212 FMV CLIENT ASSISTANCE-HELPING HAND FUND 98 205492 FMV CLIENT INCENTIVE 5338 352025 FMV Grantmaker's Description of How Grants are Used CCAPOperation HOPE created a partnership with Fulton Financial Services to provide down payment and closing assistance to low and moderate-income individuals purchasing residential real estate. HOPE will accept referrals from Fulton Financial or other sources. The primary geographical area includes but not limited to Maryland, New Jersey, Pennsylvania and Virginia. The referral applications are reviewed by a HOPE Program manager to determine eligibility and amount of assistance to be provided, which ranges from $1,000 to $2,500. An acceptance letter is generated and returned to the referral source. The referral partner then provides wiring instructions from the closing attorney through secured email. HOPEs accounting department will then create a wire in a bank account maintained at Fulton Bank. Once the wire is entered, an approval code is sent to the CFO. The CFO will then approve the wire and release of funds to the closing attorney.HELPING HAND FUNDIN RESPONSE TO THE END TO THE CDC EVICTION MORATORIUM, THE HELPING HAND FUND WAS CREATED WITH AN INITIAL $500,000 COMMITMENT TO OFFER RELIEF TO RENTERS FACING EVICTION AS A RESULT OF THE IMPACT OF COVID-19 AND ITS ASSOCIATED ECONOMIC HARDSHIP. CLIENTS SUBMITTED APPLICATIONS THROUGH A PRIVATE PORTAL PROVIDED BY THEIR FINANCIAL WELLBEING COACHES. HOPES ADMINISTRATION DEPARTMENT REVIEWED APPLICATIONS FOR COMPLIANCE WITH PREDETERMINED QUALIFICATION CRITERIA. ONCE APPROVED, THE ADMINISTRATION DEPARTMENT WOULD WORK WITH THE CLIENT TO OBTAIN SUPPORT TO PROCESS PAYMENTS DIRECTLY TO THEIR LANDLORDS. ACCOUNTING RECEIVED THE REQUESTS AND SUPPORTING DOCUMENTS TO REVIEW AND PROCESS PAYMENTS. THE CFO PROVIDED PAYMENT APPROVALS PRIOR TO DISTRIBUTION OF FUNDS.CLIENT INCENTIVES1MBB PITCH COMPETITION - OPERATION HOPE PROVIDED AN INCENTIVE TO WINNING PARTICIPANTS IN A PITCH COMPETITION HELD IN DECEMBER 2022. PARTICIPANTS PITCHED THEIR BUSINESSES TO A PANEL OF EXPERT JUDGES. THE JUDGES RANKED THE VARIOUS WINNERS WHO WOULD THEN RECEIVE THE INCENTIVE. THE LIST OF WINNERS AND SUPPORTING DOCUMENTATION WERE PROVIDED TO THE ACCOUNTING DEPARTMENT FROM THE HOPE DIRECTOR OVER THE PROGRAM TO REVIEW AND PROCESS THE PAYMENTS. THE CFO PROVIDED PAYMENT APPROVALS PRIOR TO DISTRIBUTION OF FUNDS.YOUNG ADULT PROGRAM GRADUATE INCENTIVE OPERATION HOPE PROVIDED SIX MONTHS OF FINANCIAL LITERACY AND EMPOWERMENT CURRICULUM THROUGH PERSONAL FINANCIAL COACHING FOR BUDGETING, SAVING, IMPROVING CREDIT SCORES, AND ESTABLISHING AND MANAGING CREDIT. IN ADDITION TO COMPLETING THE PROGRAM, GRADUATES ALSO RECEIVED $1,000 TO BEGIN SAVING, INVESTING, OR PAYING DOWN DEBT IN HONOR OF THEIR NEWLY LEARNED FINANCIAL LITERACY SKILLS. THE LIST OF GRADUATES AND SUPPORTING DOCUMENTION WAS PROVIDED BY OPERATION HOPE COACHES TO THE ACCOUNTING DEPARTMENT TO PROCESS PAYMENTS. THE CFO PROVIDED PAYMENT APPROVALS PRIOR TO DISTRIBUTION OF FUNDS.CHILD SAVINGS ACCOUNT - THE HOPE CHILD SAVINGS ACCOUNT (CSA) PROGRAM PROVIDES QUALIFYING ATLANTA PUBLIC SCHOOL (APS) KINDERGARTNERS WITH A FREE SAVINGS ACCOUNT AND A ONE-TIME DEPOSIT OF $50. THE SAVINGS ACCOUNT, MANAGED BY OPERATION HOPE, WILL BE A STARTING POINT FOR SAVINGS RESERVED FOR EXPENSES RELATED TO POST-SECONDARY EDUCATION AND CAREER PREPARATION. HOPE AND APS WILL WORK TOGETHER TO CREATE OTHER OPPORTUNITIES FOR ADDITIONAL INCENTIVE DEPOSITS. STUDENTS AND THEIR FAMILIES WILL BE ENCOURAGED TO ADD TO THE SAVINGS ACCOUNTS AS WELL. THE ELIGIBLE LIST OF STUDENTS IS PROVIDED BY APS TO THE DIRECTOR OF THE PROGRAM AND A SAVINGS ACCOUNT IS SETUP FOR EACH STUDENT. ACCOUNT STATUS, AS WELL AS CONTINUED ELIGIBILITY, IS MANAGED BY A THIRD-PARTY PORTAL PROVIDED BY THE BANKING INSTITUTION IN WHICH THE ACCOUNTS ARE DEPOSITED AND HELD. UPON GRADUATION FROM AN APS HIGHSCHOOL, THE ACCOUNTING DEPARTMENT WILL BE PROVIDED WITH ACCOUNT BALANCES AND SUPPORTING DOCUMENTATION TO REVIEW AND PROCESS PAYMENTS. CFO WILL APPROVE ALL PAYMENTS PRIOR TO DISTRIBUTION OF FUNDS. true X X X X false false false false false false false false false BRIAN BETTS PRESIDENT/CFO 276747 65000 120000 9150 8157 479054 JENA ROSCOE SVP, GOVERNMENT AFFAIRS 117410 12000 81804 4202 7365 222781 JENNIFER WOLFORD EVP, CHIEF INNOVATION OFFICER 187509 24050 11200 5016 1392 229167 JOHN BRYANT Chairman/CEO 533555 100000 9150 12618 655323 KEVIN BOUCHER EVP, CHIEF ADVOCACY OFFICER 176126 24450 85304 3040 837 289757 LANCE TRIGGS EVP, PROGRAMS 176103 23400 80000 1228 12110 292841 MARY HAGERTY EVP, PARTNERSHIP 172802 23400 80696 8435 12110 297443 NICOLE PIETRO SVP, CHIEF DEVELOPMENT OFFICER 161972 20500 1000 952 14129 198553 RACHAEL DOFF SEVP/CAO 219947 43750 112244 9150 7649 392740 Part III, Additional Information Special Compensation, (iii) Other reportable compensation, is related to a 2021 restricted commitment from John and Chaitra Bryant. The $2.5MM multi-year commitment has a restriction directing $1,250,000 to the benefit of HOPEs employees. JOHN BRYANT FOUNDER, CHAIR,CEO 47394 SEE PART V false Schedule L, Part V Supplemental Information The Promise Homes CompanyOperation HOPE received $25,000 and $25,000 in membership from The Promise Homes Company (TPHC) in 2022 and 2021 respectively. As a member, TPHC provided their residents with access to Operation HOPEs financial coaching services.Operation HOPE received $10,644 and $2,414 in 2022 and 2021 respectively for rent and office expenses associated with two workspaces provided for The Promise Homes Company. Operation HOPE received $11,750 and $11,750 in 2022 and 2021 respectively for HOPE Inside Adult workshops and sessions as well as Youth programming to residents of The Promise Homes Company.The Founder, Chairman and CEO of Operation HOPE served in a similar capacity with The Promise Homes Company (TPHC), which is an owner of single-family residential properties for working class and middle-class communities. He is also an employee and receives compensation from TPHC. There is also an individual that serves on both boards.Bryant Family FoundationOperation hope received a pledge of $12,500 from Bryant Family Foundation in 2022. The pledge was restricted to the youth program. the founder, chairmain and ceo of operation hope served in a similar capacity with bryant family foundation, which provides nominal financial grants to select individuals from underserved communities, primarily those who are pursuing their dreams through higher education.John and Chaitra BryantOperation HOPE received a multi-year pledge of $2,500,000 from John and Chaitra Bryant in 2021.The pledge was restricted to $1,250,000 directed to the benefit of employees, $750,000 to fund Operation HOPEs endowment, $200,000 for Operation HOPEs One Million Black Businesses (1MBB) initiative, $200,000 for Operation HOPEs Financial Literacy For All (FL4A) initiative, and $100,000 for capacity building.Board MembersHOPEs board members included representatives from banks where the debt is held.Many of HOPEs board members are representatives from banks where HOPEs programs are offered. As part of the program, HOPE has donated office space at some bank locations. In addition, the banks make annual donations to HOPE for these programs. X 1 1800000 X PROPERTY TAX 1 8020 FMV X LAPTOPS 1 9140 FMV X EXPO 7 402723 FMV X MATERIALS 1 54097 FMV false true false Form 990, Part III, Line 4d OTHER PROGRAM SERVICES 4: 1MBB HOPEs 1 Million Black Businesses initiative (1MBB) provides the black community a successful path to wealth creation through sustainable and profitable business ownership. 1MBB participants can take advantage of coaching and educational services, access to expert volunteers and more. The 1MBB Initiative is an extension of the HOPE Small Business program with access to additional resources as made possible by support from key 1MBB partners. HOPEs team of dedicated Small Business Coaches can help entrepreneurs and new or existing small business owners identify their key needs and then provide the education, coaching and connections needed to improve their businesses. From program inception to date, HOPE has supported more than 169,087 unique black-owned businesses, which accounts for approximately 5% of all black-owned businesses in the U.S. OTHER PROGRAM SERVICES 5: CCAP - Operation HOPE created a partnership with Fulton Financial Services to provide down payment and closing assistance to low and moderate-income individuals purchasing residential real estate. OTHER PROGRAM SERVICES 6: FL4A- A national initiative to embed financial literacy into American culture, led by a prominent group of leaders from the business, sports, entertainment and nonprofit sectors. This 10-year initiative will reach millions of youth and working adults by making financial literacy fun, engaging them where they live, work and celebrate. Form 990, Part VI, Section A, Line 4 The bylaw amendment was on page 3, Article 5 - Section 4a subpart V. This part was added as there was not a subpart V previously:A change in leadership role or institution/organization affiliation of any director which adversely impacts the partnership relationship between said institution/organization and the corporation, which adverse impact shall be determined by the Board. Form 990, Part VI, Section B, Line 11b THE 990 IS REVIEWED AND APPROVED BY THE CFO AND AUDIT COMMITTEE PRIOR TO SUBMISSION TO THE GOVERNING BOARD FOR FINAL APPROVAL BEFORE FILING. Form 990, Part VI, Section B, Line 12c Directors are required to submit conflict of interest questionnaires to the board's governance comittee. Directors are also requested to notify the full board if any conflicts of interest arises between surveys. Form 990, Part VI, Section B, Line 15a the exec compensation committee of the board of directors reviews the compensation annually for the officers and executive leadership. Form 990, Part VI, Section B, Line 15b the exec compensation committee of the board of directors reviews the compensation annually for the officers and executive leadership. Form 990, Part VI, Section C, Line 19 THE ORGANIZATION'S ACCOUNTANT PROVIDES A COPY OF FORM 990 SPECIFICALLY FOR PUBLIC INSPECTION. THE ORGANIZATION POSTS A COPY OF FORM 990 TO the agency website,GUIDESTAR, and charity navigator along with making the return available upon request. Form 990, Part XI, Line 9 BAD DEBT = -$601246 PART VII COMPENSATION OF OFFICERS, DIRECTORS, TRUSTEES, ETC column d, reportable compensation from the organization, includes Special Compensation related to a 2021 restricted commitment from John and Chaitra Bryant. The $2.5MM multi-year commitment has a restriction directing $1,250,000 to the benefit of HOPEs employees. HOPE ADVISORS LLC 191 PEACHTREE ST NE STE 3840 ATLANTA GA 30303 208380765 CONSULTING GA OPERATION HOPE INC OPERATION HOPE PROPERTIES LLC 191 PEACHTREE ST NE STE 3840 ATLANTA GA 30303 REAL ESTATE GA 1800000 OPERATION HOPE INC false false false false false false false false false false false false false false false false false false false