Builders of Hope Inc: Form 990, tax year 2011
View the entire original 990 at ProPublica ↗
- Organization
- Builders of Hope Inc (EIN 20-5724075)
- Tax period
- 2011-01-01 to 2011-12-31
- Filed
- 2012-08-14
- IRS object ID
- 201212279349301231
- Schema version
- 2011v1.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2012-08-14T09:30:08-05:00 | Timestamp |
| Tax Period End Date | 2011-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MINOR ANGLIN & ASSOCIATES PA | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3608 SHANNON RD SUITE 105 | AddressLine1 |
| City | DURHAM | City |
| State | NC | State |
| ZIP Code | 27707 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2011-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 205724075 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BUILDERS OF HOPE INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | BUIL | NameControl |
| Phone | 9198306666 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 310 NORTH HARRINGTON STREET | AddressLine1 |
| City | RALEIGH | City |
| State | NC | State |
| ZIP Code | 27603 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | NANCY WELSH | Name |
| Title | CEO/BOARD CHAIR | Title |
| Phone | 9198306666 | Phone |
| Date Signed | 2012-08-07 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | DAN E MINOR- CPA | Name |
| Phone | 9194932603 | Phone |
| Date Prepared | 2012-08-14 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2011 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | NANCY WELSH | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 310 NORTH HARRINGTON STREET | AddressLine1 |
| City | RALEIGH | City |
| State | NC | State |
| ZIP Code | 27603 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 10506974 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.BUILDERSOFHOPE.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2006 | YearFormation |
| State Legal Domicile | NC | StateLegalDomicile |
| Activity Or Mission Description | OUR MISSION IS TO INCREASE THE AVAILABILITY OF HIGH-QUALITY, SAFE, AFFORDABLE AND WORKFORCE HOUSING OPTIONS. THRU INNOVATIVE REUSE AND REHABILITATION WE INCORPORATE ECONOMIC BENEFITS, ENVIRONMENTAL STEWARDSHIP AND SOCIAL SOLUTIONS. AS SOCIAL ENTREPRENEURS, BUIDERS OF HOPE SUSTAINABLY REVITALIZES AT-RISK COMMUNITIES-ONE HOME, ONE FAMILY, ONE LIFE AT A TIME. OUR VISION IS TO BE LEADERS IN INNOVATION OF SUSTAINABLE REDEVELOPMENT. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 6 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 5 | NbrIndependentVotingMembers |
| Total Nbr Employees | 84 | TotalNbrEmployees |
| Total Nbr Volunteers | 45 | TotalNbrVolunteers |
| Total Gross UBI | -100686 | TotalGrossUBI |
| Contributions Grants Prior Year | 5526622 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 7955753 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 2591382 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 2226034 | ProgramServiceRevenueCY |
| Investment Income Prior Year | -47843 | InvestmentIncomePriorYear |
| Investment Income Current Year | -140152 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | -40768 | OtherRevenuePriorYear |
| Other Revenue Current Year | -66786 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 8029393 | TotalRevenuePriorYear |
| Total Revenue Current Year | 9974849 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 675 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 1750187 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 1295144 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 243512 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 5309045 | OtherExpensePriorYear |
| Other Expenses Current Year | 7530723 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 7059907 | TotalExpensesPriorYear |
| Total Expenses Current Year | 8825867 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 969486 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 1148982 | RevenuesLessExpensesCY |
| Total Assets BOY | 10944560 | TotalAssetsBOY |
| Total Assets EOY | 16601755 | TotalAssetsEOY |
| Total Liabilities BOY | 6892055 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 11360694 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 4052505 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 5241061 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | OUR MISSION IS TO INCREASE THE AVAILABILITY OF HIGH-QUALITY, SAFE, AFFORDABLE AND WORKFORCE HOUSING OPTIONS. THRU INNOVATIVE REUSE AND REHABILITATION WE INCORPORATE ECONOMIC BENEFITS, ENVIRONMENTAL STEWARDSHIP AND SOCIAL SOLUTIONS. AS SOCIAL ENTREPRENEURS, BUIDERS OF HOPE SUSTAINABLY REVITALIZES AT-RISK COMMUNITIES-ONE HOME, ONE FAMILY, ONE LIFE AT A TIME. OUR VISION IS TO BE LEADERS IN INNOVATION OF SUSTAINABLE REDEVELOPMENT. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 7594877 | Expense |
| Revenue | 2128966 | Revenue |
| Description | OUR MISSION IS TO INCREASE THE AVAILABILITY OF HIGH-QUALITY, SAFE, AFFORDABLE AND WORKFORCE HOUSING OPTIONS. THRU INNOVATIVE REUSE AND REHABILITATION WE INCORPORATE ECONOMIC BENEFITS, ENVIRONMENTAL STEWARDSHIP AND SOCIAL SOLUTIONS. AS SOCIAL ENTREPRENEURS, BUIDERS OF HOPE SUSTAINABLY REVITALIZES AT-RISK COMMUNITIES-ONE HOME, ONE FAMILY, ONE LIFE AT A TIME. OUR VISION IS TO BE LEADERS IN INNOVATION OF SUSTAINABLE REDEVELOPMENT. | Description |
| Total Program Service Expense | 7594877 | TotalProgramServiceExpense |
| Described In501 C3 | true | DescribedIn501C3 |
| Schedule B Required | true | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | true | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | false | ReportOtherAssets |
| Report Other Liabilities | true | ReportOtherLiabilities |
| Report Fin48 Footnote | true | ReportFin48Footnote |
| Independent Audit Financial Stmt | true | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | false | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | true | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | true | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | false | RelatedEntity |
| Related Org Controlled Entity | false | RelatedOrgControlledEntity |
| Transaction Related Entity | false | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 128 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | true | ComplianceWithBackupWitholding |
| Number Of Employees | 84 | NumberOfEmployees |
| Employment Tax Returns Filed | true | EmploymentTaxReturnsFiled |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 6 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 5 | NumberIndependentVotingMembers |
| Family Or Business Relationship | true | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | true | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | false | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | false | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | false | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | false | RegularMonitoringEnforcement |
| Whistleblower Policy | true | WhistleblowerPolicy |
| Document Retention Policy | true | DocumentRetentionPolicy |
| Compensation Process CEO | false | CompensationProcessCEO |
| Compensation Process Other | false | CompensationProcessOther |
| Investment In Joint Venture | false | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | NC | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | THE ORGANIZATION | NamePerson |
| Telephone Number | 8002776138 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 310 NORTH HARRINGTON STREET | AddressLine1 |
| City | RALEIGH | City |
| State | NC | State |
| ZIP Code | 27603 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (8 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation |
|---|---|---|---|---|---|---|
| NANCY WELSH | ||||||
| CEO/BOARD CH | 40.00 | X | X | 83716 | 0 | 0 |
| PETER ADAMS | ||||||
| DIRECTOR | 2.00 | X | 0 | 0 | 0 | |
| SANDRA M CLARK | ||||||
| SECRETARY | 2.00 | X | X | 0 | 0 | 0 |
| VICTORIA PHILLIPS | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| TIM GOETTEL | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| PHIL BRICKEL | ||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | |
| LEW SCHULMAN | ||||||
| PRESIDENT | 40.00 | X | 103078 | 0 | 0 | |
| ERIC S HOSTETLER | ||||||
| TREASURER | 40.00 | X | 78511 | 0 | 0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 265305 | TotalReportableCompFromOrg |
| Number Individuals GT100 K | 1 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | false | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | Address Line2AddressOfContractor/AddressUS/AddressLine2 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|---|
| TIM CLARK CONSTRUCTION LLC | ||||||
| 4431 EUPHROSINE STREET | SUITE G | NEW ORLEANS | LA | 70125 | CONSTRUCTION | 1973122 |
| PROBUILD COMPANY LLC | ||||||
| 2512 YONKERS ROAD | RALEIGH | NC | 27604 | CONSTRUCTION | 314192 | |
| AVN CONSTRUCTION | ||||||
| 813 WOODMONT DRIVE | COVINGTON | LA | 70433 | CONSTRUCTION | 305350 | |
| CASEY SERVICES HVAC INC | ||||||
| 4900 PURNELL ROAD | WAKE FOREST | NC | 27587 | HVAC CONTRACTOR | 137517 | |
| THOMPSON PLUMBING CO | ||||||
| 381 WYNDFALL LANE | CLAYTON | NC | 27527 | PLUMBING | 134009 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 8 | NumberOfContractorsGT100K |
| Government Grants | 5609462 | GovernmentGrants |
| All Other Contributions | 2346291 | AllOtherContributions |
| Noncash Contributions | 1956409 | NoncashContributions |
| Total Contributions | 7955753 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| HOME SALES | 531390 | 1722712 | 1722712 |
| CONTRACTED SERVICES | 531390 | 391796 | 391796 |
| DEVELOPMENT SERVICE FEE | 531390 | 63150 | 63150 |
| GREEN BUSINESS CREDITS | 531390 | 46376 | 46376 |
| CANCELLATION FEES | 531390 | 2000 | 2000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 2226034 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 692 | TotalRevenueColumn |
| Exclusion | $692 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 290595 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 391281 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | -100686 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -100686 | TotalRevenueColumn |
| Unrelated Business Revenue | -100686 | UnrelatedBusinessRevenue |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 140844 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | -140844 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -140844 | TotalRevenueColumn |
| Related Or Exempt Function Income | -140844 | RelatedOrExemptFunctionIncome |
Other Revenue Misc OtherRevenueMisc (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| INCOME - OTHER | 900099 | 29317 | 29317 |
| BOOK SALES | 900099 | 4583 | 4583 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 33900 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 9974849 | TotalRevenueColumn |
| Related Or Exempt Function Income | 2119090 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | -100686 | UnrelatedBusinessRevenue |
| Exclusion | $692 | ExclusionAmount |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1124814 | Total |
| Program Services | 620495 | ProgramServices |
| Management And General | 288370 | ManagementAndGeneral |
| Fundraising | 215949 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 71515 | Total |
| Program Services | 64363 | ProgramServices |
| Management And General | 7152 | ManagementAndGeneral |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 98815 | Total |
| Program Services | 61856 | ProgramServices |
| Management And General | 20439 | ManagementAndGeneral |
| Fundraising | 16520 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 15247 | Total |
| Program Services | 15247 | ProgramServices |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 36300 | Total |
| Program Services | 27225 | ProgramServices |
| Management And General | 9075 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 65378 | Total |
| Program Services | 49918 | ProgramServices |
| Management And General | 15460 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 175383 | Total |
| Program Services | 148200 | ProgramServices |
| Management And General | 27183 | ManagementAndGeneral |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 39354 | Total |
| Program Services | 29929 | ProgramServices |
| Management And General | 9425 | ManagementAndGeneral |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 241858 | Total |
| Program Services | 217671 | ProgramServices |
| Management And General | 24187 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 121728 | Total |
| Program Services | 110525 | ProgramServices |
| Management And General | 11203 | ManagementAndGeneral |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10646 | Total |
| Program Services | 4132 | ProgramServices |
| Fundraising | 6514 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 162288 | Total |
| Management And General | 162288 | ManagementAndGeneral |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 24297 | Total |
| Program Services | 21867 | ProgramServices |
| Management And General | 2430 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 221831 | Total |
| Program Services | 203204 | ProgramServices |
| Management And General | 18627 | ManagementAndGeneral |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral |
|---|---|---|---|
| COST OF HOMES - REHAB | 3233902 | 3233902 | |
| VA HOUSE MOVES PROGRAM EX | 1694516 | 1694516 | |
| VA HOUSE MOVES DRY-IN PRO | 751756 | 751756 | |
| BAD DEBT EXPENSE | 231680 | 231680 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 504559 | Total |
| Program Services | 340071 | ProgramServices |
| Management And General | 159959 | ManagementAndGeneral |
| Fundraising | 4529 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 8825867 | Total |
| Program Services | 7594877 | ProgramServices |
| Management And General | 987478 | ManagementAndGeneral |
| Fundraising | 243512 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8788 | BOY |
| EOY | -33505 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 934251 | BOY |
| EOY | 23441 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2049086 | BOY |
| EOY | 4497295 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 223347 | BOY |
| EOY | 104046 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 20150 | BOY |
| EOY | 10650 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3982684 | BOY |
| EOY | 3970776 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 28270 | BOY |
| EOY | 5322 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 8122506 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 177488 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3680184 | BOY |
| EOY | 7945018 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 17800 | BOY |
| EOY | 78712 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10944560 | BOY |
| EOY | 16601755 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1884461 | BOY |
| EOY | 1724425 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 51170 | EOY |
Loans From Officers Directors LoansFromOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 728113 | BOY |
| EOY | 918198 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3686694 | BOY |
| EOY | 8273215 | EOY |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 400749 | BOY |
| EOY | 132501 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 192038 | BOY |
| EOY | 261185 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 6892055 | BOY |
| EOY | 11360694 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2055919 | BOY |
| EOY | 1756350 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1996586 | BOY |
| EOY | 3484711 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 4052505 | BOY |
| EOY | 5241061 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10944560 | BOY |
| EOY | 16601755 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | 1148982 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 39574 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | true | FSAudited |
| Audit Committee | true | AuditCommittee |
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Federal Grant Audit Required | true | FederalGrantAuditRequired |
| Federal Grant Audit Performed | true | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | X | PubliclySupportedOrg509a2 |
Gifts Grants Contrib Received509 GiftsGrantsContribReceived509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | 2334470 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 5121096 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 5526622 | CurrentTaxYearMinus1Year |
| Current Tax Year | 7955753 | CurrentTaxYear |
| Total | 20937941 | Total |
Gross Receipts From Admissions GrossReceiptsFromAdmissions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | 1939979 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 1432187 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 2622617 | CurrentTaxYearMinus1Year |
| Current Tax Year | 2226034 | CurrentTaxYear |
| Total | 8220817 | Total |
Total509 Total509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | 4274449 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 6553283 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 8149239 | CurrentTaxYearMinus1Year |
| Current Tax Year | 10181787 | CurrentTaxYear |
| Total | 29158758 | Total |
Amts From Subst Contributors AmtsFromSubstContributors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | 665446 | CurrentTaxYearMinus1Year |
| Total | 665446 | Total |
Support From DQ Ps Etc SupportFromDQPsEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus1 Year | 665446 | CurrentTaxYearMinus1Year |
| Total | 665446 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | 28493312 | PublicSupportTotal509 |
Gross Investment Income509 GrossInvestmentIncome509
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | 1612 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 5604 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 2530 | CurrentTaxYearMinus1Year |
| Current Tax Year | 692 | CurrentTaxYear |
| Total | 10438 | Total |
Investment Income And UBTI InvestmentIncomeAndUBTI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | 1612 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 5604 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 2530 | CurrentTaxYearMinus1Year |
| Current Tax Year | 692 | CurrentTaxYear |
| Total | 10438 | Total |
Total Support Total TotalSupportTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus3 Years | 4276061 | CurrentTaxYearMinus3Years |
| Current Tax Year Minus2 Years | 6558887 | CurrentTaxYearMinus2Years |
| Current Tax Year Minus1 Year | 8151769 | CurrentTaxYearMinus1Year |
| Current Tax Year | 10182479 | CurrentTaxYear |
| Total | 29169196 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| First5 Years509 | X | First5Years509 |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Disclosed Orgs Legal Control | false | DisclosedOrgsLegalControl |
| Disclosed For Charitable Purposes | false | DisclosedForCharitablePurposes |
| Written Policy Monitoring | false | WrittenPolicyMonitoring |
| Sect170h Requirements Satisfied | false | Sect170hRequirementsSatisfied |
| Solicited Assets For Sale | false | SolicitedAssetsForSale |
| Agent Trustee Etc | false | AgentTrusteeEtc |
| Included On FS | false | IncludedOnFS |
| Endowments Held By Unrelated Orgs | false | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | false | EndowmentsHeldByRelatedOrgs |
| Are Related Orgs Listed Schedule R | false | AreRelatedOrgsListedScheduleR |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 2125793 | OtherCostOrOtherBasis |
| Book Value | 2125793 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 5846031 | OtherCostOrOtherBasis |
| Depreciation | 135384 | Depreciation |
| Book Value | 5710647 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 42856 | OtherCostOrOtherBasis |
| Depreciation | 2325 | Depreciation |
| Book Value | 40531 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 86658 | OtherCostOrOtherBasis |
| Depreciation | 30958 | Depreciation |
| Book Value | 55700 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 21168 | OtherCostOrOtherBasis |
| Depreciation | 8821 | Depreciation |
| Book Value | 12347 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 7945018 | TotalOfBookValueLandBuildings |
Other Liabilities OtherLiabilities (11 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| ACCRUED INTEREST - N/P NANCY MURRAY | $82,374 |
| ACCRUED PAYROLL TAXES | $78,974 |
| ACCRUED INTEREST PAYABLE | $39,376 |
| SECURITY DEPOSITS-TENANTS | $25,935 |
| ACCRUED PAYROLL | $19,030 |
| PENALTY & INTEREST PAYABLE | $11,330 |
| EARNEST MONEY | $4,000 |
| DIRECT DEPOSIT LIABILITIES | $100 |
| PROPERTY MGMT - PREPAID RENT | $66 |
| AMERICAN EXPRESS | |
| CONTRACTS PAYABLE |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 261185 | TotalOfAmounts |
| Total Revenue | 9974849 | TotalRevenue |
| Total Expenses | 8825867 | TotalExpenses |
| Excess Or Deficit For Year | 1148982 | ExcessOrDeficitForYear |
| Other | $39,574 | OtherAmount |
| Total Adjustments | 39574 | TotalAdjustments |
| Excess Or Deficit Per FS | 1188556 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 10504695 | TotRevenueEtcAuditedFinclStmt |
| Revenue Subtotal | 10504695 | RevenueSubtotal |
| Other Revenues Not Included | -529846 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | -529846 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 9974849 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 9316139 | TotExpensesEtcAuditedFinclStmt |
| Expenses Subtotal | 9316139 | ExpensesSubtotal |
| Other Expenses Not Included | -490272 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | -490272 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 8825867 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (4 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| LIABILITY UNDER FIN 48 FOOTNOTE | SCHEDULE D, PAGE 3, PART X | BUILDERS OF HOPE, INC. IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (THE CODE), AS AMENDED. AS SUCH, THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES TO THE EXTENT PROVIDED UNDER SECTION 501 OF THE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS MADE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION'S FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, FOR THE YEARS ENDING 2008, 2009, AND 2010 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED. AS OF DECEMBER 31, 2011 THERE WERE NO UNCERTAIN TAX POSITIONS. |
| RECONCILIATION OF CHANGES - OTHER | SCHEDULE D, PAGE 4, PART XI, LINE 8 | PROPERTY DONATED TO ANOTHER ORGANIZATION 140,844 RENTAL PROPERTY EXPENSES 389,002 PROPERTY DONATED TO ANOTHER ORGANIZATION -138,564 RENTAL PROPERTY EXPENSES -389,002 BOOK / TAX DEPRECIATION DIFFERENCE 37,294 |
| REVENUE AMOUNTS INCLUDED ON RETURN - OTHER | SCHEDULE D, PAGE 4, PART XII, LINE 4B | PROPERTY DONATED TO ANOTHER ORGANIZATION -140,844 RENTAL PROPERTY EXPENSES -389,002 |
| EXPENSE AMOUNTS INCLUDED ON RETURN - OTHER | SCHEDULE D, PAGE 4, PART XIII, LINE 4B | PROPERTY DONATED TO ANOTHER ORGANIZATION -138,564 RENTAL PROPERTY EXPENSES -389,002 BOOK / TAX DEPRECIATION DIFFERENCE 37,294 |
Schedule L IRS990ScheduleL
Loan Table LoanTable (2 entries)
| Purpose Of LoanPurposeOfLoan | Loan To OrganizationLoanToOrganization | Original PrincipalOriginalPrincipalAmount | Balance DueBalanceDue | DefaultDefault | Approved By BoardApprovedByBoard | Written AgreementWrittenAgreement |
|---|---|---|---|---|---|---|
| NANCY MURRAY | ||||||
| SEED FUNDS FOR DEVELOPMENT | X | $691,544 | 728113 | false | true | true |
| LOANS FROM PRINCIPALS | ||||||
| OPERATING LOAN | X | $190,085 | 190085 | false | false | true |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Balance Due | 918198 | TotalBalanceDue |
Schedule M IRS990ScheduleM
Real Estate Residential RealEstateResidential
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 8 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 466400 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | APPRAISAL | MethodOfDeterminingRevenues |
Real Estate Commercial RealEstateCommercial
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 1 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 1475000 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | APPRAISAL | MethodOfDeterminingRevenues |
Other Non Cash Contributions Table OtherNonCashContributionsTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 1 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 15009 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | FAIR VALUE | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Any Property That Must Be Held | false | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | false | ReviewProcessUnusualNCGifts |
| Third Parties Used | false | ThirdPartiesUsed |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (6 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| ORGANIZATION'S MISSION | FORM 990 - ORGANIZATION'S MISSION | OUR MISSION IS TO INCREASE THE AVAILABILITY OF HIGH-QUALITY, SAFE, AFFORDABLE AND WORKFORCE HOUSING OPTIONS. THRU INNOVATIVE REUSE AND REHABILITATION WE INCORPORATE ECONOMIC BENEFITS, ENVIRONMENTAL STEWARDSHIP AND SOCIAL SOLUTIONS. AS SOCIAL ENTREPRENEURS, BUIDERS OF HOPE SUSTAINABLY REVITALIZES AT-RISK COMMUNITIES-ONE HOME, ONE FAMILY, ONE LIFE AT A TIME. OUR VISION IS TO BE LEADERS IN INNOVATION OF SUSTAINABLE REDEVELOPMENT. |
| EXPLANATION ON VOLUNTEERS AND TYPES OF SERVICES OR BENEFITS | FORM 990, PAGE 1, PART I, LINE 6 | THE VOLUNTEERS GAVE OVER 2,500 HOURS. THEY WERE INVOLVED IN THE BUILDING PROJECTS. |
| RELATED PARTY INFORMATION AMONG OFFICERS | FORM 990, PAGE 6, PART VI, LINE 2 | NANCY WELSH DAVID WELSH CEO VICE PRES. SISTER AND BROTHER |
| SIGNIFICANT CHANGES TO ORGANIZATIONAL DOCUMENTS | FORM 990, PAGE 6, PART VI, LINE 4 | THE FOLLOWING AMENDMENT TO THE RESTATEMENT OF BYLAWS OF BUILDERS OF HOPE, INC. HAS BEEN ADOPTED BY ACTION OF THE DIRECTORS OF THE CORPORATION AS STATED IN THE ADDITION OF ARTICLE XII AS STATED BELOW: ARTICLE XII ADVISORY BOARD I. CREATION. THE BOARD OF DIRECTORS MAY, BY A MAJORITY VOTE, ESTABLISH MULTIPLE ADVISORY BOARDS IN LOCATIONS WHERE THE CORPORATION CONDUCTS BUSINESS. EACH ADVISORY BOARD SHALL BE DEEMED A SEPARATE BODY FROM THE BOARD OF DIRECTORS. 1) VOTING. ADVISORY BOARD MEMBERS SHALL NOT BE ENTITLED TO VOTE ON GENERAL MATTERS, BUT WILL HAVE THE FOLLOWING VOTING RIGHTS. ADVISORY BOARD MEMBERS CAN ONLY VOTE ON ITEMS BROUGHT BY THE BOARD OF DIRECTORS FOR THE COMMENCEMENT OF HOUSING PROJECTS IN THE ADVISORY BOARD'S LOCAL MARKET. APPROVAL BY THE ADVISORY BOARD (BY A MAJORITY VOTE) SHALL BE REQUIRED FOR THE COMMENCEMENT OF SUCH PROJECTS. 2) NUMBER OF MEMBERS. EACH ADVISORY BOARD SHALL BE COMPRISED OF AT LEAST THREE (3) MEMBERS. 3) PURPOSE. EACH ADVISORY BOARD SHALL REPRESENT THE NEEDS OF THE LOW-INCOME COMMUNITY SERVED BY THE CORPORATION. THE ADVISORY BOARD SHALL ALSO SEEK TO ENHANCE THE CORPORATION'S ACCESS TO VALUABLE RESOURCES, AND SHALL ENDEAVOR TO CONNECT THE CORPORATION TO POTENTIAL DONORS, PHILANTHROPIC INSTITUTIONS AND OTHER FUNDING SOURCES. 4) ELIGIBILITY. AT LEAST ONE-THIRD (1/3) OF THE MEMBERSHIP OF EACH ADVISORY BOARD MUST MEET ONE OR MORE OF THE FOLLOWING REQUIREMENTS: (I) MEMBER LIVES IN A LOW-INCOME COMMUNITY WHERE 51% OR MORE OF THE RESIDENTS ARE LOW INCOME (THIS RESIDENT DOES NOT HAVE TO BE LOW INCOME); (II) MEMBER IS A LOW-INCOME RESIDENT OF THE COMMUNITY; OR (III) MEMBER IS ELECTED BY A LOW-INCOME NEIGHBORHOOD ORGANIZATION TO SERVE ON THE ADVISORY BOARD. 5) MEETINGS. MEMBERS OF THE LOCAL ADVISORY BOARD SHALL COLLECTIVELY MEET WITH THE CORPORATION'S LOCAL AREA DIRECTOR, AT LEAST ON A QUARTERLY BASIS. 6) RENEWAL OF TERMS. EACH MEMBER OF AN ADVISORY BOARD SHALL SERVE A ONE (1) YEAR TERM, RENEWABLE BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS. 7) REMOVAL. ANY MEMBER OF AN ADVISORY BOARD MAY BE REMOVED FOR ANY REASON BY A MAJORITY VOTE OF THE BOARD OF DIRECTORS. |
| ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 | FORM 990, PAGE 6, PART VI, LINE 11B | THE FEDERAL FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM WITH THE ASSISTANCE OF THE CFO. THE CFO REVIEWS/APPROVES THE FORM 990. THE CFO SENDS A COPY OF THE FORM 990 TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND FINAL APPROVAL. |
| GOVERNING DOCUMENTS DISCLOSURE EXPLANATION | FORM 990, PAGE 6, PART VI, LINE 19 | A COPY OF THE GOVERNING DOCUMENTS MAY BE OBTAINED BY CONTACTING THE ORGANIZATION AT THE FOLLOWING ADDRESS: BUILDERS OF HOPE, INC. 310 N. HARRINGTON STREET RALEIGH, NC 27603 |
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