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Urban Hope Inc

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 541997025 ✦ Richmond, VA ✦ Designated as a 501(c)(3)

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Overview

What is Urban Hope Inc?

Urban Hope Inc is a nonprofit organization situated in Richmond, Virginia. Their primary mission is to assist families in securing affordable rental housing and potential homeownership opportunities. In 2022, they successfully provided 31 housing units, maintaining an impressive 99% tenancy rate. Urban Hope also completed construction on a four-bedroom home, purchased an abandoned church building, and secured partnerships with 48 private lenders to support property acquisition and renovation. The organization launched two homeownership programs and a financial cohort, demonstrating a commitment to financial wellness for its clients. Despite challenges such as health issues and job loss, Urban Hope tenants showed resilience and reliance on one another, achieving significant financial goals. The nonprofit also offered rental relief during the pandemic to help alleviate tenants' hardships.


Official website here: www.urbanhoperva.org

What are the reviews and ratings of this charity?

Charity Navigator Rating: 84% (Three-Star out of Four Star rating)

Urban Hope Inc demonstrates a solid performance with an overall rating of 84%, characterized by strong accountability and finance metrics, scoring 83%. The organization excels in its cultural and community engagement, achieving a score of 91%. This indicates that Urban Hope Inc effectively connects and interacts with its community, fostering a positive environment and receiving high levels of constituent feedback.

Notable strengths of Urban Hope Inc include perfect scores in feedback collection, usage, and practices, all rated at 100 out of 100. This highlights the organization's commitment to transparency and responsiveness to community needs. Additionally, the equity strategies score of 87 reflects a strong focus on equitable practices within its operations.

While the organization has received commendable ratings in various categories, the overall Three-Star rating indicates potential areas for improvement in certain operational facets. Nevertheless, Urban Hope Inc's strengths in community engagement and feedback mechanisms suggest that it is well-aligned with its mission and responsive to its constituents.


This AI summary has been generated from information found on Charity Navigator.

Is Urban Hope Inc legitimate?

Urban Hope Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Urban Hope 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: $86,400
Professional Fundraising Fees: $0
Other Salaries and Wages: $220,808

For more financial information, click here


Official website here: www.urbanhoperva.org

What is the mission statement of Urban Hope Inc?

Urban Hope Inc's mission is centered around assisting families in their pursuit of affordable rental housing and homeownership. Throughout 2022, Urban Hope successfully provided 31 units of rental housing, ensuring the stable and safe living conditions for over 86 tenants. The organization also completed the refinancing of a multi-family property, constructed a four-bedroom single-family home, and purchased an abandoned church building for renovation. Urban Hope maintains partnerships with 48 private lenders to support property purchases and renovations. In addition, the organization launched two homeownership programs and a financial cohort program, helping clients secure rental relief during the pandemic. Through these initiatives, Urban Hope continues to make strides towards its mission of making home a cornerstone of opportunity by keeping it affordable.


Official website here: www.urbanhoperva.org

Who is the CEO of Urban Hope Inc?

Sarah Hale is the President of Urban Hope Inc.


Official website here: www.urbanhoperva.org

What is the revenue of Urban Hope Inc?

Urban Hope Inc's revenue in 2022 was $1,545,757.


Official website here: www.urbanhoperva.org

Who are the executives of Urban Hope Inc and what are their salaries?

The average compensation at Urban Hope Inc during 2022 was $61,442. There are 5 employees and 79 volunteers at Urban Hope Inc.


Here are 7 key members and their salaries:


Sarah Hale (President)
  • Compensation: $86,400
  • Related: $0
  • Other: $0
Dontrese Brown (Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Shawn Maida (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Caitie Rountree-Chan (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tom Mitchell (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Nelson Reveley (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Iesha Williams (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.urbanhoperva.org

Where can I find the form 990 for Urban Hope Inc?

Urban Hope Inc's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.urbanhoperva.org

Learn more at the official website: www.urbanhoperva.org

Mission Statement of Urban Hope Inc

Urban Hope, as an organization, primarily focuses on collaborating with families in their pursuit of affordable rental housing and homeownership. The mission of Urban Hope is to establish a solid foundation for these families, providing them with stable and secure living spaces. In 2022, Urban Hope made significant strides towards achieving this goal, offering 31 units of rental housing and ensuring over 86 tenants resided in safe and affordable housing. The organization's efforts also extended to purchasing and renovating properties, completing construction on a four-bedroom single-family home, and even refinancing a multi-family property. Urban Hope's commitment to its mission was evident in its launch of two homeownership programs and a financial cohort program, which aimed to assist families in securing their financial future. Despite facing challenges such as health problems and job loss, Urban Hope's clients demonstrated remarkable resilience and reliance on one another. The organization's initiatives have undoubtedly been instrumental in making home a cornerstone of opportunity for many families.

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Impact




July, 2024

Urban Hope Inc's impact can be seen through the tangible outcomes it has achieved in 2022. By the end of the year, Urban Hope provided 31 units of rental housing, benefiting over 86 tenants who now have access to stable, safe, and affordable housing. This has been made possible through the support of the community, with 99% of tenants remaining stably housed throughout the year.

Additionally, Urban Hope has successfully helped clients transition from unstable circumstances, preventing displacement by offering them a path to secure rentals. The organization has also expanded its efforts by completing mortgage refinancing, constructing new housing units, and acquiring properties for renovation.

Furthermore, Urban Hope has initiated pilot programs for homeownership, financial education, and savings matching, demonstrating a commitment to empowering families to achieve their financial goals and create opportunities for themselves. Despite challenges such as health problems and job loss, clients and tenants have shown resilience and mutual support in pursuing stability and financial well-being.

Overall, Urban Hope's impactful work underscores its mission of making affordable housing a cornerstone of opportunity for families in need.




This information is meant to be a general summary of Urban Hope 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.

Revenue
$1,545,757 (2022)
201420152016201720182019202020212022$0$400k$800k$1.2M$1.6M
Expenses
$911,201 (2022)
201420152016201720182019202020212022$0$250k$500k$750k$1M
Efficiency
2014201520162017201820192020202120220%7%14%21%31%

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $65
  • Program Service Revenue: $234,349
  • Gross Receipts: $1,545,757

Assets and Liabilities:

  • Total Assets: $4,846,547
  • Total Liabilities: $3,091,855
  • Net Assets: $1,754,692

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

Program Rental Income

Revenue

$233,964

Program Management Fee

Revenue

$385

Organization Details

Founding Year

2000

Principal Officer

Sarah Hale

Main Address

P O Box 23171, Richmond, VA, 23223

NTEE Category

Code: L20 - Housing

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