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Community Development : Housing and Neighborhood Development

Hope Enterprise Corporation

Strengthening Communities, Building Assets, Improving Lives

four stars

90.98

4 Old River Place Suite A
Jackson, MS 39202
tel: (601) 944-1100   Web Site
EIN: 64-0851798

Board Leadership
Mike Espy
Chair

CEO
William Bynum
Chief Executive Officer

  Score
(out of 100)
Rating
Overall Score & Rating 90.98 four stars
  Financial 89.35 three stars
  Accountability & Transparency 93.00 four stars
This rating was published 06/01/2019 and includes data from FY2017, the most recent 990 received at that time.

HOPE is a private, nonprofit community development financial institution (CDFI), that provides commercial financing, mortgage loans and technical assistance to support businesses, entrepreneurs, home buyers and community development projects. HOPE's mission is to strengthen communities, build assets and improve lives of people in economically distressed areas of Arkansas, Louisiana, Mississippi, and Memphis, Tennessee. HOPE also sponsors Hope Credit Union, which provides a range of financial products and services that meet the needs of low- and moderate-income residents in its four-state service area. Since 1994, HOPE has generated over $1 billion in financing for entrepreneurs, homebuyers and community development projects, and assisted more than 40,000 individuals in low-income communities throughout the Mid South.

HOPE is a private, nonprofit community development financial institution (CDFI), that provides commercial financing, mortgage loans and technical assistance to support businesses, entrepreneurs, home buyers and community development projects. HOPE's mission is to strengthen communities, build assets and improve lives of people in economically distressed areas of Arkansas, Louisiana, Mississippi, and Memphis, Tennessee. HOPE also sponsors Hope Credit Union, which provides a range of financial products and services that meet the needs of low- and moderate-income residents in its four-state service area. Since 1994, HOPE has generated over $1 billion in financing for entrepreneurs, homebuyers and community development projects, and assisted more than 40,000 individuals in low-income communities throughout the Mid South.

Impact Information

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Financial

three stars

89.35

Accountability & Transparency

four stars

93.00

This rating was published 06/01/2019 and includes data from FY2017, the most recent 990 received at that time.
Overall Rating Chart
  Program Expenses
(Percent of the charity's total expenses spent on the programs
and services it delivers)
74.0%
  Administrative Expenses 18.1%
  Fundraising Expenses 7.8%
  Fundraising Efficiency $0.06
  Working Capital Ratio (years) 2.20
  Program Expenses Growth 32.0%
  Liabilities to Assets 43.1%
All data for Financial Performance Metrics calculations was provided by Hope Enterprise Corporation on recent 990s filed with the IRS.
All data for Financial Performance Metrics calculations was provided by Hope Enterprise Corporation on recent 990s filed with the IRS.

Highly Rated

Charity Name & State Overall Score Overall Rating
Hope Enterprise Corporation (MS) 90.98 four stars
Hebrew Free Loan of Metropolitan Detroit (MI) 89.19 three stars
DreamSpring (NM) 94.69 four stars
Four Bands Community Fund (SD) 88.22 three stars
Women's Business Development Center (IL) 94.13 four stars

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REVENUE  
Contributions  
   Contributions, Gifts & Grants $18,236,826
   Federated Campaigns $0
   Membership Dues $0
   Fundraising Events $0
   Related Organizations $0
   Government Grants $0
Total Contributions $18,236,826
   Program Service Revenue $2,534,394
Total Primary Revenue $20,771,220
   Other Revenue $329,941
TOTAL REVENUE $21,101,161
   
EXPENSES  
   Program Expenses $13,422,624
   Administrative Expenses $2,858,658
   Fundraising Expenses $1,604,256
TOTAL FUNCTIONAL EXPENSES $17,885,538
   
Payments to Affiliates $0
Excess (or Deficit) for the year $3,215,623
   
Net Assets $32,433,505

Program names and associated costs are listed for the top programs as reported on the charity's most recently filed Form 990. The top programs displayed will include the largest three programs, or those programs covering at least 60% of the charity's total expenses, whichever comes first.

Program Name Amount Spent % of Program Expenses
Loan Distribution $5,959,610 44.4%
Regional Development $5,755,612 42.9%
Adorable Housing Initiative $854,866 6.4%

Ratings History

Form 990 FYE Date Published Overall Score Overall Rating
CN 2.1
2017-12 06/01/2019 90.98 four stars
2016-12 05/01/2018 85.64 three stars
2015-12 06/01/2017 82.66 three stars
2014-12 06/01/2016 84.22 three stars
 
CN 2.0
2014-12 04/01/2016 81.30 three stars
2013-12 03/01/2016 82.36 three stars
2013-12 07/01/2015 78.63 two stars
2012-12 03/01/2014 78.61 two stars
2011-12 08/01/2013 80.35 three stars
2010-12 07/01/2012 78.91 two stars

The data displayed on this tab is provided by the IRS in the form of Publication 78 and the Business Master File (BMF).

EIN 64-0851798
Name in IRS Master File HOPE ENTERPRISE CORPORATION
NTEE Code S20
NTEE Classification Community, Neighborhood Development, Improvement (General)
NTEE Type Community Improvement, Capacity Building
Classification Charitable Organization
Subsection 501(c)(3)  (View the list of codes)
Activities (400) Area development, redevelopment of renewal
Foundation Status Organization that normally receives no more than one-third of its support from gross investment income and unrelated business income and at the same time more than one-third of its support from contributions, fees, and gross receipts related to exempt purposes.  509(a)(2)
Deductibility Contributions are deductible
Affiliation Independent - the organization is an independent organization or an independent auxiliary (i.e., not affiliated with a National, Regional, or Geographic grouping of organizations).
Group Name [Not Applicable]
Ruling Date October, 1994
Filing Requirement 990 (all other) or 990EZ return
Fiscal Year End December
IRS Forms 990
(provided courtesy of Foundation Center)
(Log In or Register Now to View Forms 990!)
  • December, 2016
  • December, 2015
  • December, 2014
  • December, 2013
  • December, 2012
Compensation % of Expenses Paid to Title
$468,024 2.61% William Bynum Chief Executive Officer

Highly Rated

Charity Name & State Overall Score Overall Rating
Hope Enterprise Corporation (MS) 90.98 four stars
Hebrew Free Loan Society (NY) 90.93 four stars
Four Bands Community Fund (SD) 88.22 three stars
Accion East (NY) 92.29 four stars
Foundation for Financial Planning (DC) 96.23 four stars

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Charity Contact Info

Hope Enterprise Corporation
4 Old River Place
Suite A
Jackson, MS 39202
tel: (601) 944-1100
fax: (601) 944-0808
EIN: 64-0851798

Visit Web Site

Board Leadership

Mike Espy
Chair

CEO

William Bynum
Chief Executive Officer

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