2022-07-25T09:05:26-07:00 2021-12-31 201403280 FULTON & KOZAK LLC 7187 JONESBORO RD STE 100A MORROW GA 30260 990 2021-01-01 954378084 OPERATION HOPE INC OPER 4049412919 191 PEACHTREE STREET NE 3840 ATLANTA GA 30303 BRIAN BETTS PRESIDENT/CFO 2022-07-25 true BRIAN BETTS 999009999 SHEILA M KOZAK CPA P00687026 7709614200 3 AAL1 IAL1 FAL1 2021 2022-09-23 18:48:47Z BRIAN BETTS 191 PEACHTREE STREET NE 3840 ATLANTA GA 30303 45439283 false X WWW.OPERATIONHOPE.ORG X 1992 CA Operation hope is a for-purpose organization working to disrupt poverty and empower inclusion for low and moderate-income youth and adults. 10 9 272 343 0 25956479 45433407 0 3106 -7810 18000 2142 25977585 45427739 1698236 1817016 0 13675539 18111421 0 1572181 3934062 6028047 19307837 25956484 6669748 19471255 21688476 42513861 6145521 7522773 15542955 34991088 Operation hope is a for-purpose organization working to disrupt poverty and empower inclusion for low and moderate-income youth and adults. false false 19229831 1573324 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 work to raise FICO scores on average of 47 points. Programs offered: Financial Literacy Workshops, Entrepreneurial Training and counseling for Foreclosure Prevention, Money Management, Homeownership, Small Business and Credit. In 2021, HOPE provided 193,899 adult services and expanded out HOPE Inside network to 182 locations. Our clients achieved the following: increased savings by $295, reduced debt by $2,632, obtained $278 million in mortgage loans and started 909 new small businesses, of which 78% were owned by women and minorities. 1629871 243692 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. In 2021, HOPE provided 63,364 disaster recovery services. 282167 Youth HOPEs Banking on our Future (BOOF) program has operated in 304 U.S. cities, 3 provinces in South Africa, and has educated over 1 million youth. The program is the recipient of the 11th John Sherman Award for Financial Education given by the US Treasury Department. HOPEs Business in A Box Academies (HBIABA) is a national initiative to harness the economic energy of Youth and bring positive role models into underserved communities. In 2021, HOPE provided 5,993 youth financial educational services. 21141869 true true false false false false false false false false true false false false false true true false false false false false false false false false false true true true false false false false false false false true false false false false true false false false false true 102 0 false 272 true false true OC false false false false false 0 false false false false false false false X 10 9 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 JOHN BRYANT Chairman/CEO 40.00 0.00 X X 559947 0 17403 BRIAN BETTS PRESIDENT/CFO 40.00 0.00 X 335421 0 14345 RACHAEL DOFF SEVP/CAO 40.00 0.00 X 277003 0 12506 MARY HAGERTY EVP, PARTNERSHIP 40.00 0.00 213397 0 15453 LANCE TRIGGS EVP, PROGRAMS 40.00 0.00 210977 0 9815 JENNIFER WOLFORD EVP, CHIEF OPERATING OFFICER 40.00 0.00 183527 0 4216 KEVIN BOUCHER EVP, RELATIONSHIP MANAGEMENT DIRECT 40.00 0.00 183416 0 1066 ELAINE HUNGENBERG EVP, HOPE RESEARCH AND IMPACT 40.00 0.00 167379 0 4446 NICOLE PIETRO SVP, CHIEF DEVELOPMENT OFFICER 40.00 0.00 161935 0 660 JENA ROSCOE SVP, GOVT AFFAIRS 40.00 0.00 132052 0 8559 BILL FAIR DIR OF PRODUCT DEV 40.00 0.00 126433 0 6897 JESSICA BERGERON SVP, INNOV & LEARN 40.00 0.00 110987 0 8479 EVELYN DUCOULOMBIER SVP, C&C AFFAIRS 40.00 0.00 106989 0 6388 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 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 2769463 110233 13 false true false ROB MCGREW 8306 WILSHIRE BLVD SUITE 484 BEVERLY HILLS CA 90211 CONSULTATION 125000 JODI SMITH 8033 W SUNSET BLVD 1021 LOS ANGELES CA 90046 DIGITAL PROGRAM 141600 2 4054921 41378486 23860 45433407 0 3734 3734 0 0 1500 1500 1500 1500 11544 -11544 -11544 -11544 0 0 0 OTHER INCOME 642 642 642 45427739 -5668 23802 23802 1793214 1793214 0 0 2879696 1535303 706906 637487 0 13053878 11530554 1127511 395813 0 1031122 879445 103307 48370 1146725 942629 130981 73115 0 81513 81513 22977 22977 0 0 0 1772563 1438303 295034 39226 301549 207266 51106 43177 424587 309401 68259 46927 0 0 205567 90854 114713 155809 71917 26231 57661 0 785980 655724 130256 223874 223874 0 504845 476012 21277 7556 221418 170189 33346 17883 CONTRACT LABOR 630892 483251 134451 13190 COMPUTER EXPENSES 393322 286618 63231 43473 TELECOMMUNICATION 234493 191427 29983 13083 Postage and Shipping 35013 25514 5629 3870 33645 30446 2105 1094 25956484 21141869 3242434 1572181 2124052 2324675 4777077 9465561 12928326 27990096 0 0 0 0 0 99421 170612 5007508 2802815 1720248 2204693 30956 333603 0 0 0 8396 24621 21688476 42513861 1256526 3219410 352570 4888995 3950793 6145521 7522773 X -767116 -1121776 16310071 36112864 15542955 34991088 21688476 42513861 X 19471255 26878 -50000 X false true X true true true X 16382671 18672742 18619174 25931479 45408407 125014473 0 0 16382671 18672742 18619174 25931479 45408407 125014473 35937624 89076849 167 264 13689 21106 5234 40460 0 9242 1321 5295 642 16500 125071433 0.71220 0.68110 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1206364 765723 440641 3666705 2034104 1632601 134439 2988 131451 2204693 X 50741862 26878 5275701 11544 5314123 45427739 45427739 31293729 5275701 11544 50000 5337245 25956484 25956484 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 2018. Part XI, Line 2d: Other revenue amounts included in F/S but not included on form 990 LOSS ON SALE OF FIXED ASSETS $11544 Part XII, Line 2d: Other expenses and losses per audited F/S BAD DEBT $50000 true MORGAN STATE UNIVERSITY 1700 E COLD SPRING LANE BALTIMORE MD 21251 526002033 GOVERNMENT 23802 0 ECONOMIC ADJUSTMENT ASSISTANCE 1 0 CLIENT ASSISTANCE-CCAP 1119 1511963 FMV CLIENT ASSISTANCE-COVID-19 260 243692 FMV CLIENT INCENTIVES 50 37559 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.Covid-19 Mini GrantsWith the onset of the global pandemic and a surge in unemployment, Operation HOPE created our COVID-19 mini-grant program to assist our clients to focus on long-term financial health vs. their immediate financial crisis. 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, utility or credit card companies. Accounting received the requests and supporting documents to review and process payments. The CFO provided payment approvals prior to distribution of funds.Client IncentivesOPERATION HOPE PROVIDED AN INCENTIVE TO WINNING PARTICIPANTS IN A PITCH COMPETITION HELD IN DECEMBER 2021. 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 COACH OVER THE PROGRAM TO REVIEW AND PROCESS THE PAYMENTS. THE CFO PROVIDED PAYMENT APPROVALS PRIOR TO DISTRIBUTION OF FUNDS. true X X X X false false false false false false false false false BRIAN BETTS PRESIDENT/CFO 270421 65000 8700 5645 349766 ELAINE HUNGENBERG EVP, HOPE RESEARCH AND IMPACT 144879 22500 4189 257 171825 JENNIFER WOLFORD EVP, CHIEF OPERATING OFFICER 183527 4159 57 187743 JOHN BRYANT Chairman/CEO 520197 39750 8700 8703 577350 KEVIN BOUCHER EVP, RELATIONSHIP MANAGEMENT DIRECT 148416 35000 917 149 184482 LANCE TRIGGS EVP, PROGRAMS 168477 42500 1112 8703 220792 MARY HAGERTY EVP, PARTNERSHIP 168397 45000 6750 8703 228850 NICOLE PIETRO SVP, CHIEF DEVELOPMENT OFFICER 161935 603 57 162595 RACHAEL DOFF SEVP/CAO 214503 62500 6886 5620 289509 JOHN BRYANT FOUNDER, CHAIR,CEO 39164 SEE PART V false Schedule L, Part V Supplemental Information The Promise Homes CompanyOperation HOPE received $25,000 and $0 in membership from The Promise Homes Company (TPHC) in 2021 and 2020 respectively. As a member, TPHC provided their residents with access to Operation HOPEs financial coaching services.Operation HOPE received $2,414 and $18,314 in 2021 and 2020 respectively for rent and office expenses associated with two workspaces provided for The Promise Homes Company. Operation HOPE received $11,750 and $0 in 2021 and 2020 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.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. Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents The By-law changes pertain to:1. Establishment of board classes (Class i, Class II, and Class III)2. Statement that the board terms are based on the calendar year.3. Board giving (give or get) without mention of amount expectations. BOard giving also establishes the director as a hope member. Articles of Incorporation were updated to expand the service offering and remove the geographical coverage area. Form 990, Part VI, Line 11b: Form 990 Review Process 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, Line 12c: Explanation of Monitoring and Enforcement of Conflicts 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, Line 15a: Compensation Review & Approval Process - CEO, Top Management the exec compensation committee of the board of directors reviews the compensation annually for the officers and executive leadership. Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees the exec compensation committee of the board of directors reviews the compensation annually for the officers and executive leadership. Form 990, Part VI, Line 19: Other Organization Documents Publicly Available THE ORGANIZATION'S ACCOUNTANT PROVIDES A COPY OF FORM 990 SPECIFICALLY FOR PUBLIC INSPECTION. THE ORGANIZATION POSTS A COPY OF FORM 990 TO GUIDESTAR.ORG. THIS COPY IS ALSO AVAILABLE UPON REQUEST. Other Changes In Net Assets Or Fund Balances - Other Decreases BAD DEBT = -$50000 HOPE ADVISORS LLC 191 PEACHTREE ST NE STE 3840 ATLANTA GA 30303 208380765 CONSULTING GA OPERATION HOPE INC false false false false false false false false false false false false false false false false false false false