Overview
What is Hope & A Future Iii Inc?
Hope & A Future III Inc is a nonprofit organization situated in Madison, Wisconsin, focusing on providing affordable housing for low-income and moderate-income older adults. Their innovative model, known as the TIIN (Together in Inclusive Neighborhoods) concept, combines a licensed adult family home with on-site healthcare professionals and hands-on caregivers who live and work there. This arrangement addresses the caregiver crisis while offering stable homes to low-income workers within a supportive family environment. The organization's mission is to foster an inclusive and vibrant neighborhood where both older adults and families with young children can thrive together. Despite the challenges posed by the COVID-19 pandemic, Hope & A Future III Inc has adapted, offering virtual community involvement and utilizing outdoor visiting spaces. They are currently planning an expansion of their housing and services, pending annexation and zoning approval.
Official website here: www.hopeandafutureinc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star Rating
Hope & A Future III Inc has received an 81% score, translating to a Three-Star rating, indicating a solid level of accountability and financial health. The rating is based solely on the Accountability & Finance beacon, suggesting that the organization has demonstrated a strong commitment to responsible financial practices and transparency.
The nonprofit boasts a fully independent board, scoring 100% in that category, with five independent members contributing to its governance. It also shows no material diversion of assets and has established comprehensive policies regarding conflicts of interest, whistleblower protections, and document retention, which are all positive indicators of its operational integrity.
One notable strength is the program expense ratio of 88.07%, reflecting that a significant portion of its expenses is directed towards its programs rather than administrative costs. However, while the overall score is commendable, the single-beacon rating means there may be limited insights into other operational aspects that could also be relevant to potential donors or supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Hope & A Future Iii Inc legitimate?
Hope & A Future Iii Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hope & A Future Iii Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $59,577
Professional Fundraising Fees: $0
Other Salaries and Wages: $105,006
For more financial information, click here
Official website here: www.hopeandafutureinc.org
What is the mission statement of Hope & A Future Iii Inc?
Hope & A Future III Inc's mission is centered around fostering affordable housing for low-income and moderate-income households. Their objective extends beyond just providing a place to live, as they aim to create a vibrant and inclusive neighborhood. This community brings together older adults and families with young children, fostering an environment where they mutually support each other to thrive. The organization operates a licensed adult family home, offering care to older adults with various diagnoses. Their unique model includes a live-in registered nurse, occupational therapist, and caregivers who live on-site in exchange for assistance. This setup addresses the caregiver crisis, providing seniors with a stable staff while also offering low-income individuals a stable home within a supportive family-like environment. The health of older adults improves, even in the face of advanced diseases and dementia, as they flourish together. When the end of life approaches, Hope & A Future works with hospice to allow residents to remain with their supportive community. Despite the challenges posed by the pandemic, the organization continues its expansion plans, aiming to break ground in 2024.
Official website here: www.hopeandafutureinc.org
Who is the CEO of Hope & A Future Iii Inc?
Karin Krause is the President of Hope & A Future Iii Inc.
Official website here: www.hopeandafutureinc.org
What is the revenue of Hope & A Future Iii Inc?
Hope & A Future Iii Inc's revenue in 2022 was $470,547.
Official website here: www.hopeandafutureinc.org
Who are the executives of Hope & A Future Iii Inc and what are their salaries?
The average compensation at Hope & A Future Iii Inc during 2022 was $13,715. There are 12 employees and 165 volunteers at Hope & A Future Iii Inc.
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- Compensation: $46,294
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Official website here: www.hopeandafutureinc.org
Where can I find the form 990 for Hope & A Future Iii Inc?
Hope & A Future Iii Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hopeandafutureinc.org
Learn more at the official website: www.hopeandafutureinc.org
Mission Statement of Hope & A Future Iii Inc
Hope & A Future III Inc is dedicated to fostering affordable housing for low-income and moderate-income households. Their mission extends beyond providing shelter, aiming to create a vibrant and inclusive neighborhood where older adults and families with young children can thrive together. This unique approach involves operating a licensed Adult Family Home (AFH), which offers care to older adults with various diagnoses. The AFH model includes a live-in registered nurse, an occupational therapist, and hands-on caregivers who receive room and board in exchange for helping with evening and weekend hours. This innovative model addresses the caregiver crisis, providing seniors with a stable staff and offering low-income wage earners a stable home within a supportive family environment. Residents and staff enjoy goal-directed living and the support of each other, leading to improved health and flourishing for seniors, even in the face of advanced diseases and dementia. Hope & A Future III Inc's mission is to continue expanding this pioneering model, having identified a successful model in 2021 and currently planning for an expansion of housing and services. They are working with various professionals, including architects and engineers, and have a volunteer fundraising committee established to help realize their goal of breaking ground in 2024.
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Impact
July, 2024
Hope & A Future III Inc's impact lies in its innovative model of providing affordable housing and quality care to older adults in a family-like environment. By operating a licensed Adult Family Home with a live-in registered nurse, occupational therapist, and dedicated caregivers, they not only address the caregiver crisis but also create a supportive community where seniors can thrive even in the face of advancing diseases. This model not only improves the health and well-being of the residents but also fosters a sense of belonging and purpose among staff and residents alike. Additionally, their mission to create an inclusive neighborhood where older adults and families with young children support each other demonstrates a commitment to building a strong and interconnected community. Through their upcoming expansion plans and strategic partnerships, Hope & A Future III Inc is poised to make a lasting impact on the lives of seniors and families in Madison, WI, and beyond.
This information is meant to be a general summary of Hope & A Future Iii Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $267
- Program Service Revenue: $281,588
- Gross Receipts: $470,547
Assets and Liabilities:
- Total Assets: $1,299,763
- Total Liabilities: $713,666
- Net Assets: $586,097
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RESIDENTIAL PROGRAM FEES
Revenue
$281,588
Organization Details
Founding Year
2009
Phone
(608) 831-0243Principal Officer
Karin Krause
Main Address
1115 S HIGH POINT RD, MADISON, WI, 537194914
Website
www.hopeandafutureinc.orgNTEE Category
Code: L20 - Housing
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