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Hope Enterprise Corporation

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

EIN: 640851798 ✦ Jackson, MS ✦ Designated as a 501(c)(3)

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Overview

What is Hope Enterprise Corporation?

Hope Enterprise Corporation is a nonprofit organization based in Jackson, Mississippi. Their mission lies in enhancing the financial health and wealth of people residing in under-resourced communities in the Deep South through various initiatives. These initiatives cover housing, communications, workforce training, general business development, and access to capital. The organization has a workforce of 326 individuals dedicated to achieving this mission. They focus on strengthening the economic well-being of their community members, striving for a sustainable and vibrant future.


Official website here: www.hope-ec.org

What are the reviews and ratings of this charity?

Charity Navigator Rating: 88% (Three-Star out of Four Star rating)

Hope Enterprise Corporation has earned a Three-Star rating from Charity Navigator, reflecting a solid overall performance with an 88% score. The organization excels in accountability and finance, achieving an impressive score of 84, alongside notable scores for leadership and adaptability. The majority of its board members are independent, and it demonstrates strong governance practices, including thorough financial oversight and policies that promote accountability.

Strengths of Hope Enterprise Corporation include its high scores in culture and community, where it received a perfect score of 98, indicating a strong focus on engaging with and supporting its community. Additionally, the organization has shown exceptional responsiveness to feedback, as evidenced by perfect scores in both feedback collection and usage, demonstrating a commitment to continuous improvement and alignment with community needs.

However, there are some areas that could benefit from further enhancement, particularly in financial metrics such as the program expense ratio and fundraising efficiency. The program expense ratio stands at 66.77%, which, while respectable, suggests there may be room for more funds to be directed towards programs. The fundraising efficiency ratio of $0.022 indicates potential challenges in raising funds effectively compared to the amount spent. Overall, while the organization shows strong governance and community engagement, addressing these financial aspects could further enhance its impact.


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

Is Hope Enterprise Corporation legitimate?

Hope Enterprise Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hope Enterprise Corporation 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: $1,056,584
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,925,055

For more financial information, click here


Official website here: www.hope-ec.org

What is the mission statement of Hope Enterprise Corporation?

Hope Enterprise Corporation is dedicated to enhancing the financial well-being of people residing in under-resourced communities in the Deep South. Their mission is to fortify the economic foundation of individuals in these areas. Through regional development, they establish and improve systems and organizations that address essential needs such as housing, communication, workforce training, and business development. Additionally, they strive to expand access to capital for community members.


Official website here: www.hope-ec.org

Who is the CEO of Hope Enterprise Corporation?

William Bynum is the President/Ceo of Hope Enterprise Corporation. The CEO's salary of Hope Enterprise Corporation is $396,471 and their total compensation is $630,801.


Official website here: www.hope-ec.org

What is the revenue of Hope Enterprise Corporation?

Hope Enterprise Corporation's revenue in 2022 was $16,452,878.


Official website here: www.hope-ec.org

Who are the executives of Hope Enterprise Corporation and what are their salaries?

The average compensation at Hope Enterprise Corporation during 2022 was $12,214. There are 326 employees and 20 volunteers at Hope Enterprise Corporation.


Here are 27 key members and their salaries (Hope Enterprise Corporation's CEO's salary is $396,471 and their total compensation is $630,801):


Mike Espy (Chair - Thru 12/16/22)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ivye Allen (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Claiborne Barksdale (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ann Marie Burgoyne (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mauricio Calvo (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Susannah Carrier (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ronnie Crudup (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Rebecca Dixon (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Robert Gibbs (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Herschell Hamilton (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Carolyn Jefferson (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Maurice Jones (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Dan Letendre (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Blanche Lincoln (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Felecia Lucky (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Fred Miller (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Judy Reese Morse (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Martha Murphy (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jeffrey Nolan (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Billy Percy (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Alex Wise (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
William Bynum (President/Ceo)
  • Compensation: $396,471
  • Related: $359
  • Other: $233,971
Alan Branson (Evp/Cfo/Treasurer/Asst Secretary)
  • Compensation: $112,685
  • Related: $148
  • Other: $15,462
Edward D Sivak Jr (Evp/Chief Policy & Comm. Officer)
  • Compensation: $155,653
  • Related: $0
  • Other: $18,197
Kimberla Little (Evp/Chief Human Assets Officer)
  • Compensation: $81,987
  • Related: $0
  • Other: $7,526
Pearl Wicks (Evp/Chief Operating Officer)
  • Compensation: $2,043
  • Related: $0
  • Other: $290
Cassandra Williams (Evp/Chief Program Officer)
  • Compensation: $26,900
  • Related: $0
  • Other: $4,891


Official website here: www.hope-ec.org

Where can I find the form 990 for Hope Enterprise Corporation?

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


Official website here: www.hope-ec.org

Learn more at the official website: www.hope-ec.org

Mission Statement of Hope Enterprise Corporation

Hope Enterprise Corporation, a nonprofit organization, is dedicated to enhancing the financial health and wealth of individuals in under-resourced communities in the Deep South. The corporation's mission is geared toward strengthening these communities by developing essential systems and organizations that focus on housing, communications, workforce training, general business development, and access to capital.

In simpler terms, Hope Enterprise Corporation strives to empower people in underprivileged Deep South communities by providing them with the necessary resources for financial stability and growth. This encompasses various initiatives aimed at improving the infrastructure, education, and economic opportunities within these areas.

By implementing regional development programs, Hope Enterprise Corporation endeavors to build a foundation for sustainable progress. This includes establishing organizations that cater to the needs of the community, such as those focused on improving housing conditions and providing workforce training. Furthermore, the corporation's efforts extend to promoting general business development and ensuring access to capital for aspiring entrepreneurs.

Hope Enterprise Corporation's mission is multifaceted and encompasses a holistic approach to community development. By addressing the root causes of poverty and financial instability, the organization aims to create lasting change and enable individuals to build a better future for themselves and their families.

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Impact




October, 2024

Hope Enterprise Corporation significantly enhances the financial health and wealth of individuals in under-resourced communities throughout the Deep South. By focusing on regional development, it creates and strengthens systems and organizations that improve critical areas such as housing, communications, workforce training, and general business development. Access to capital is a cornerstone of its efforts, empowering residents to invest in their futures and foster economic growth within their communities.

Based in Jackson, Mississippi, Hope Enterprise Corporation works tirelessly to break down barriers that hinder financial stability and prosperity. Its initiatives not only support individual families but also promote broader community improvement, leading to a more equitable and prosperous region. The organization's mission transforms lives by providing essential resources, training, and opportunities, ultimately fostering a stronger, more resilient economic landscape in the Deep South.




This information is meant to be a general summary of Hope Enterprise Corporation. 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
$16,452,878 (2022)
Expenses
$13,825,024 (2022)
Efficiency

Other financial information:

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

  • Investment Income: $9,517
  • Program Service Revenue: $3,753,179
  • Gross Receipts: $20,514,113

Assets and Liabilities:

  • Total Assets: $124,090,537
  • Total Liabilities: $71,756,890
  • Net Assets: $52,333,647

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Programs

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

LOAN,ORIGIN,OTHER FEES

Revenue

$2,168,723

INTEREST INCOME ON LOANS

Revenue

$1,584,456

Organization Details

Founding Year

1993

Principal Officer

William Bynum

Main Address

4 OLD RIVER PLACE A, JACKSON, MS, 39202

NTEE Category

Code: S20 - Community improvement

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