2025-07-08T15:32:00-05:00 2024-12-31 411534805 CARPENTER EVERT & ASSOCIATES LTD 7760 FRANCE AVE S SUITE 940 BLOOMINGTON MN 55435 990 2024-01-01 411292817 HOPE COMMUNITY INC HOPE 6128748867 611 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 WILL DELANEY CO-EXECUTIVE DIRECTOR 6128748867 2025-07-01 1 0 NEAL EVERT P00046853 9528310085 2025-07-01 2024 2025-03-06 01:10:19Z WILL DELANEY 611 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 3594701 0 X WWW.HOPE-COMMUNITY.ORG X 1977 MN 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 PURSUES EQUITY AND DIVERSITY IN ALL IT DOES. 12 12 0 0 0 0 2343551 2483517 944523 919075 35154 52671 206683 139438 3529911 3594701 0 0 0 0 2067112 1858742 0 0 163626 2617200 2246044 4684312 4104786 -1154401 -510085 12000734 11758795 8005689 9228011 3995045 2530784 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 1359289 COMMUNITY ENGAGEMENT HOPE INVOLVED NEARLY 350 COMMUNITY MEMBERS IN GARDEN PLANNING, PLANTING, TENDING, SHARING THE HARVEST, AND BUILDING RELATIONSHIP WITH EACH OTHER. IN THE 2024 GROWING SEASON, WE GAVE AWAY AN ESTIMATED $10,000 WORTH OF PRODUCE TO COMMUNITY MEMBERS AT OUR WEEKLY FOOD DISTRIBUTION SITES. SIX YOUTH INTERNS SERVED A TOTAL OF 480 HOURS OVER THE SUMMER. THEY SUPPORTED GARDENING EFFORTS, VISITED OTHER URBAN GARDENS, LEARNED TO COOK WITH LOCALLY GROWN PRODUCE, AND SUPPORTED THE FARM STANDS.HOPE COMPLETED THE 5TH 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. IN 2024, HOPE ENGAGED WITH OVER 260 YOUTHS IN THE YOUTH, LEADERSHIP AND LEARNING PROGRAM. THEY BUILT THEIR SKILLS, CONNECTED WITH EACH OTHER, AND DEVELOPED MINDSETS TO CHOOSE THEIR CAREER PATHS THROUGH THREE SMALL GROUP LEARNING COHORTS (YOUNG MEN'S GROUP, CAREER PATHWAYS, AND CAMP READINESS), INTERNSHIPS, AND TOPICAL WORKSHOPS ON STEAM SKILLS AND SOFT SKILLS. . 1521123 COMMUNITY DEVELOPMENT AND ASSET BUILDINGHOPE'S DEVELOPMENT VISION CALLS FOR INVESTING IN THE PEOPLE, PLACES, AND ASSETS ALREADY IN THE COMMUNITY AND CREATING NEW OPPORTUNITIES THAT SUPPORT EXISTING RESIDENTS TO THRIVE WITHOUT THE RISK OF DISPLACEMENT. AS OF 2024, HOPE OWNS AND MANAGES A ROBUST PORTFOLIO THAT INCLUDES 237 HIGH-QUALITY RENTAL UNITS, 12 AFFORDABLE HOMEOWNERSHIP UNITS, HOPE'S OFFICES, A COMMUNITY CENTER, COMMUNITY GARDENS, AND SPACES FOR SMALL COMMUNITY BUSINESSES. IN 2024, HOPE HAS PROVIDED STABLE HOUSING TO APPROXIMATELY 800 RESIDENTS WHERE PEOPLE CAN GATHER, PLAY, LEARN, AND LEAD. SEVENTY PERCENT (70%) OF THE RENTAL UNITS ARE AFFORDABLE TO VERY LOW-INCOME HOUSEHOLDS EARNING BETWEEN 30% AND 50% OF THE AREA MEDIAN INCOME (AMI).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 TRADITIONAL DUTIES OF A REAL ESTATE ASSET MANAGER FINANCIAL OVERSIGHT, SELECTION OF A PROPERTY MANAGER, COMPLIANCE WITH REGULATORY AGREEMENTS, CAPITAL IMPROVEMENT PLANNING, ETC. IN 2020, HOPE LAUNCHED A STRATEGY TO SUPPORT COMMUNITY MEMBERS TO BECOME OWNER-OCCUPANT LANDLORDS OF SMALL MULTI-FAMILY BUILDINGS (DUPLEXES AND TRIPLEXES) AS AN OPPORTUNITY TO EXPAND NEIGHBORHOOD AFFORDABLE HOUSING OWNERSHIP. THESE PROPERTIES ARE OFTEN OVERLOOKED EVEN THOUGH THEY MAKE UP A SIGNIFICANT PART OF THE HOUSING STOCK IN NEIGHBORHOODS LIKE PHILLIPS AND OFFER AN OPPORTUNITY TO PRESERVE LARGE FAMILY UNITS. AS OF 2024, HOPE HAS CONDUCTED 9 COHORTS AND 12 OUT OF 74 GRADUATES HAVE PURCHASED SINGLE FAMILY HOMES OR DUPLEXES. HOPE WILL OFFER ANOTHER TWO TRAINING COHORTS IN 2025 AND CONTINUE TO PROVIDE ONE-ON-ONE SUPPORT TO GRADUATES. 521460 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. 3401872 1 1 0 0 0 0 0 0 0 0 1 0 0 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 0 1 1 1 1 1 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 MN X X THE ORGANIZATION 6128748867 611 EAST FRANKLIN AVENUE MINNEAPOLIS MN 55404 ANI RYAN KOCH CHAIR 2.00 X 0 0 0 C TERRENCE ANDERSON DIRECTOR 1.00 X 0 0 0 CANDICE ROSALEZ DIRECTOR 1.00 X 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 ALEX WEST STEINMAN DIRECTOR 1.00 X 0 0 0 DIANE GALATOWITSCH DIRECTOR 1.00 X 0 0 0 OLIVER SMITH DIRECTOR 1.00 X 0 0 0 DANYIKA LEONARD DIRECTOR 1.00 X 0 0 0 WILL DELANEY INTERIM CO-ED 40.00 X 112848 0 10965 CHAKA MKALI INTERIM CO-ED 40.00 X 112555 0 10248 225403 0 21213 2 0 0 0 0 50000 2433517 2483517 PROGRAM FEES 532000 919075 919075 919075 52671 29360 23311 MISCELLANEOUS 900099 139438 139438 139438 3594701 1087873 0 23311 1575476 1296598 176911 101967 149769 118445 22004 9320 133497 109855 14998 8644 399926 123908 241699 34319 7345 1856 5489 360255 347580 12675 153014 149143 3871 478887 478887 102190 94243 7947 OPERATING & MAINTENANCE 436285 434824 1461 CLIENT SUPPORT SERVICES 128419 126153 755 1511 BAD DEBT 41316 41316 LICENSES AND FEES 36432 27635 8074 723 101975 53285 47037 1653 4104786 3401872 539288 163626 385685 350414 674138 889187 397924 275752 157502 293292 733064 733064 43721 37587 15100441 8733973 8254855 6366468 643017 608805 710828 2204226 12000734 11758795 385026 383769 1117643 1181974 6415180 6109125 87840 1553143 8005689 9228011 X 3417045 2127784 578000 403000 3995045 2530784 12000734 11758795 X -510085 71706 -1025882 X 0 1 X 1 0 X 2286990 2527627 2183484 2343551 2483517 11825169 2286990 2527627 2183484 2343551 2483517 11825169 1552773 10272396 36016 26529 28761 35154 52671 179131 29662 20971 96219 206683 139438 492973 12497273 4567426 0.82200 0.75700 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1121007 1121007 12871804 7735919 5135885 1107630 998054 109576 6366468 ACCRUED INTEREST RECEIVABLE 408124 INVESTMENT IN LIMITED PARTNERSHIP 264936 UNEMPLOYMENT SERVICES TRUST 73037 RIGHT OF -USE ASSET 1458129 2204226 TENANTS' DEPOSITS 95014 LEASE LIABILITY 1458129 1553143 X 3666407 71706 71706 3594701 0 3594701 4104786 0 4104786 0 4104786 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 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 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. FORM 990, PART XI, LINE 9: LOSS ON DISPOSAL OF PROPERTY -1,155,882. RELEASE OF FORGIVABLE LOAN 130,000. 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