Overview
What is Hope Network Nonprofit Housing Corporation?
Hope Network Nonprofit Housing Corporation is a Michigan-based nonprofit organization located at 3075 Orchard Vista DR SE, Grand Rapids, MI 49546. Their primary focus is providing affordable housing for individuals with physical and emotional disabilities, primarily funded by government entities such as HUD and MSHDA. The organization serves as a holding entity for these properties, ensuring that housing is allocated to tenants based on their income relative to the area median income. With a mission rooted in Christian service, Hope Network Nonprofit Housing Corporation empowers individuals to overcome challenges and strive for their highest level of independence. With a team of 8 dedicated professionals, the organization continues to make a significant impact in the community.
Official website here: www.hopenetwork.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 37%, Zero-Star out of Four Star rating.
Hope Network Nonprofit Housing Corporation has received a 37% rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The organization scored particularly low in areas related to board independence, with no independent members on its board, which raises questions about governance and oversight.
Despite some strengths in policies related to conflict of interest and whistleblower protections, the nonprofit exhibits alarming financial ratios. Notably, it reported a liabilities-to-assets ratio of 334.20% and a program expense ratio of 0.00%, suggesting that resources may not be adequately directed towards its mission-oriented programs. Additionally, the absence of its tax form on the nonprofit's website further detracts from its transparency.
Overall, while the organization has established certain essential policies, the lack of independent oversight and troubling financial indicators contribute to its low rating, which potential donors and stakeholders should consider before engaging with the nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Hope Network Nonprofit Housing Corporation legitimate?
Hope Network Nonprofit Housing Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hope Network Nonprofit Housing 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $497,262
For more financial information, click here
Official website here: www.hopenetwork.org
What is the mission statement of Hope Network Nonprofit Housing Corporation?
The Hope Network Nonprofit Housing Corporation operates with a mission to empower individuals to overcome challenges, ultimately achieving their highest level of independence. In the spirit of Christian service, this organization provides affordable housing for individuals experiencing physical and emotional disabilities, primarily funded by government entities like HUD and MSHDA. The housing is allocated based on the tenant's income relative to the area median income. The corporation's activities are centered around supporting those in need and helping them attain self-sufficiency.
Official website here: www.hopenetwork.org
Who is the CEO of Hope Network Nonprofit Housing Corporation?
Heather Zak is the President of Hope Network Nonprofit Housing Corporation.
Official website here: www.hopenetwork.org
What is the revenue of Hope Network Nonprofit Housing Corporation?
Hope Network Nonprofit Housing Corporation's revenue in 2022 was $100,417.
Official website here: www.hopenetwork.org
Who are the executives of Hope Network Nonprofit Housing Corporation and what are their salaries?
The average compensation at Hope Network Nonprofit Housing Corporation during 2022 was $62,158. There are 8 employees at Hope Network Nonprofit Housing Corporation.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $482,662
- Other: $31,077
- Compensation: $0
- Related: $248,776
- Other: $24,191
- Compensation: $0
- Related: $225,637
- Other: $14,234
- Compensation: $0
- Related: $102,707
- Other: $4,684
- Compensation: $0
- Related: $129,965
- Other: $6,563
Official website here: www.hopenetwork.org
Where can I find the form 990 for Hope Network Nonprofit Housing Corporation?
Hope Network Nonprofit Housing Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hopenetwork.org
Learn more at the official website: www.hopenetwork.org
Mission Statement of Hope Network Nonprofit Housing Corporation
Hope Network Nonprofit Housing Corporation, in its mission, serves in Christian faith to empower individuals facing various challenges to reach their highest level of independence. This nonprofit organization specializes in providing affordable housing for individuals experiencing physical and emotional disabilities, primarily through properties funded by government entities such as Housing and Urban Development (HUD) and Michigan State Housing Development Authority (MSHDA). The housing is allocated based on an individual's income relative to the area median income. With a strong commitment to Christian service, Hope Network Nonprofit Housing Corporation aims to offer a supportive living environment to its tenants, enabling them to overcome their challenges and live with a sense of independence.
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Impact
October, 2024
Hope Network Nonprofit Housing Corporation plays a significant role in addressing the housing needs of individuals in Southwest Michigan, particularly those facing challenges such as physical and emotional disabilities. By owning and operating low-income housing, the organization provides affordable living options that are crucial for tenants whose income is often below the area median.
The properties are primarily funded through government entities, enabling the corporation to maintain accessibility and affordability for its residents. This support helps individuals and families gain stability in their lives, which is essential for achieving greater independence. By fostering a supportive living environment, Hope Network empowers its tenants to overcome obstacles and enhances their quality of life. Through its commitment to service, the organization contributes positively to the community by ensuring that vulnerable populations have access to safe and affordable housing.
This information is meant to be a general summary of Hope Network Nonprofit Housing 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $100,417
Assets and Liabilities:
- Total Assets: $1,111,684
- Total Liabilities: $3,715,266
- Net Assets: -$2,603,582
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Organization Details
Founding Year
2018
Phone
(616) 301-8000Principal Officer
Heather Zak
Main Address
3075 ORCHARD VISTA DR SE, GRAND RAPIDS, MI, 49546
Website
www.hopenetwork.orgNTEE Category
Code: L02 - Housing
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