Hope Enterprise Corporation is a urban development organization based in Jackson, MS that was founded in 1993. As of 2019 they had $16 million in revenue and $61 million in assets.
HOPE Enterprise Corporation, a private, nonprofit community development financial institution (CDFI), provides commercial financing, mortgage loans and technical assistance.
Previous legal names or variations of their name include: Enterprise Corporation Of The Delta.
EIN:
64-0851798
City:
State:
Website:
Phone:
(601) 944-1100
Facebook:
Twitter:
Founded:
1993
Type:
501(c)(3)
NTEE:
Revenue:
$16,174,799
Assets:
$61,030,857
Employees:
276
Fiscal year end:
December
Program areas at Hope Enterprise Corporation
Development finance specializes in loans to small to medium sized manufacturing and service businesses.
Housing initiative provides finance for affordable housing to families.
Technical assistance to small and medium sized manufacturing and service businesses in the area of managment consulting in the areas of improvements of processes and systems.
Form 990s for Hope Enterprise Corporation
| Fiscal year ending | Date received by IRS | Form | PDF link |
|---|
| 2018-12 | Oct 21, 2019 | 990 | View PDF |
| 2017-12 | Feb 21, 2019 | 990 | View PDF |
| 2016-12 | Jan 18, 2018 | 990 | View PDF |
| 2015-12 | Mar 2, 2017 | 990 | View PDF |
| 2014-12 | Jan 29, 2016 | 990 | View PDF |
| ...and five more Form 990 PDFs |
Financials for Hope Enterprise Corporation
| Field | 2018 | 2017 | % Change |
|---|
| Federated campaigns | $0 | $0 | |
| Membership dues | $0 | $0 | |
| Fundraising event contributions | $0 | $0 | |
| Related organizations | $0 | $0 | |
| Government grants (contributions) | $0 | $0 | |
| Normal grants, contributions, etc. | $13,239,558 | $18,236,826 | -27.4% |
| <em>Non-cash contributions included in above</em> | $478,605 | $0 | 999% |
| Total grants, contributions, etc. | $13,239,558 | $18,236,826 | -27.4% |
| Field | 2018 | 2017 | % Change |
|---|
| Total grants, contributions, etc. | $13,239,558 | $18,236,826 | -27.4% |
| Program services | $2,325,702 | $2,534,394 | -8.2% |
| Investment income and dividends | $527,945 | $329,633 | 60.2% |
| Tax-exempt bond proceeds | $0 | $0 | |
| Royalty revenue | $0 | $0 | |
| Net rental income | $0 | $0 | |
| Net gain from sale of non-inventory assets | $-2,356 | $-101,267 | 97.7% |
| Net income from fundraising events | $0 | $0 | |
| Net income from gaming activities | $0 | $0 | |
| Net income from sales of inventory | $0 | $0 | |
| Miscellaneous revenues | $83,950 | $101,575 | -17.4% |
| Total revenues | $16,174,799 | $21,101,161 | -23.3% |
| Field | 2018 | 2017 | % Change |
|---|
| Grants to govts. and orgs. in USA | $655,050 | $5,660,080 | -88.4% |
| Grants to individuals in USA | $0 | $0 | |
| Grants to govts., orgs., and individuals outside USA | $0 | $0 | |
| Benefits paid to or for members | $0 | $0 | |
| Compensation of current officers, etc. | $1,109,793 | $0 | 999% |
| Compensation not included above, to disqualified persons | $0 | $0 | |
| Non-officer salaries and wages | $3,048,795 | $3,768,527 | -19.1% |
| Pension/retirement accruals and contributions | $0 | $0 | |
| Other employee benefits | $0 | $0 | |
| Payroll taxes | $0 | $0 | |
| Management fees | $0 | $0 | |
| Legal fees | $63,529 | $127,266 | -50.1% |
| Accounting fees | $152,960 | $143,050 | 6.9% |
| Lobbying fees | $0 | $0 | |
| Pro. fundraising fees | $0 | $0 | |
| Investment mgmt fees | $0 | $0 | |
| Other fee-for-service | $4,823,309 | $3,824,570 | 26.1% |
| Advertising and promotion | $0 | $0 | |
| Office expenses | $78,597 | $66,567 | 18.1% |
| Information tech. expenses | $555,659 | $340,493 | 63.2% |
| Royalty expenses | $0 | $0 | |
| Occupancy | $0 | $57,636 | -100% |
| Travel | $298,271 | $221,941 | 34.4% |
| Public official travel and entertainment | $0 | $0 | |
| Conferences, meetings, etc. | $80,571 | $52,900 | 52.3% |
| Interest | $579,112 | $578,421 | 0.1% |
| Payments to affiliates | $0 | $0 | |
| Depreciation, amortization, etc. | $422,191 | $362,374 | 16.5% |
| Insurance | $123,440 | $129,969 | -5.0% |
| All other expenses | $3,589,929 | $2,551,744 | 40.7% |
| Total expenses | $15,581,206 | $17,885,538 | -12.9% |
| Field | 2018 | 2017 | % Change |
|---|
| Cash (non-interest-bearing) | $8,405,618 | $6,086,298 | 38.1% |
| Savings, short-term investments, etc. | $38,714 | $253,512 | -84.7% |
| Pledges and grants receivable | $13,650,672 | $11,228,543 | 21.6% |
| Accounts receivable | $79,130 | $12,966 | 510.3% |
| Loans receivable from officers, directors, etc. | $0 | $0 | |
| Loans receivable from other disqualified persons | $0 | $0 | |
| Notes and loans receivable | $13,506,690 | $14,146,896 | -4.5% |
| Inventories for use | $0 | $0 | |
| Prepaid expenses and deferred charges | $337,136 | $239,357 | 40.9% |
| Buildings, equipment, etc. post-depreciation | $2,175,648 | $2,247,302 | -3.2% |
| Investments, publicly traded securities | $0 | $0 | |
| Investments, other securities | $18,647,855 | $18,365,604 | 1.5% |
| Investments, program-related | $0 | $0 | |
| Intangible assets | $0 | $0 | |
| Other assets | $4,189,394 | $4,449,327 | -5.8% |
| Total assets | $61,030,857 | $57,029,805 | 7.0% |
| Field | 2018 | 2017 | % Change |
|---|
| Accounts payable and accrued expenses | $0 | $0 | |
| Grants payable | $0 | $0 | |
| Deferred revenue | $0 | $0 | |
| Tax-exempt bond liabilities | $0 | $0 | |
| Escrow or custodial account liability | $0 | $0 | |
| Loans payable to officers and disqualified persons | $0 | $0 | |
| Secured mortgages and notes payable to unrelated third parties | $23,925,528 | $21,974,898 | 8.9% |
| Unsecured notes and loans payable to unrelated third parties | $0 | $0 | |
| Other liabilities | $4,189,022 | $2,621,402 | 59.8% |
| Total liabilities | $28,114,550 | $24,596,300 | 14.3% |
| Field | 2018 | 2017 | % Change |
|---|
| Unrestricted net assets | $4,826,628 | $10,232,223 | -52.8% |
| Temporarily restricted net assets | $26,693,135 | $20,503,010 | 30.2% |
| Permanently restricted net assets | $1,396,544 | $1,698,272 | -17.8% |
Vendors for Hope Enterprise Corporation
| Vendor | Services | Amount paid | Date |
|---|
| Cliftonlarsonallen LLP | Audit accounting | | 2020-04-17 |
| █████████ | Content management system software | | 2020-04-01 |
| ███████ ████████ ████ █████████ ███████ | Insurance | | 2019-12-31 |
| ████ █████ ████ ██████ ██ ███ ████ | Insurance | | 2019-12-31 |
| ██████████ ████ █████████ ███████ | Insurance | | 2019-12-31 |
| ████ ███ ██████ | Insurance agent or broker | $3,480 | 2019-12-31 |
| ████████ █████ | Insurance agent or broker | $37,030 | 2019-12-31 |
| ████ █████ ███ ██████ ███ | Tax accounting; Audit accounting; Accounting | $163,000 | 2019-08-08 |
| ...and three more vendors |
Personnel at Hope Enterprise Corporation
| Name | Title | Compensation | Most recent data |
|---|
| William J. Bill Bynum | Chief Executive Officer | $390,254 | Oct. 2, 2020 |
| Pearl Wicks | Executive Vice President, Chief Operating Officer | - | Oct. 2, 2020 |
| ████ ██ ███████ | Executive Vice President, Chief Financial Officer | $190,249 | Oct. 2, 2020 |
| ██ █████ | Executive Vice President, Chief Policy and Communications Officer | $146,337 | Oct. 2, 2020 |
| █████████ ████████ | Senior Vice President, Community and Economic Development | - | Oct. 2, 2020 |
| ███ ███████ | Senior Vice President, Information Technology | - | Oct. 2, 2020 |
| ███████ ████████████ | Senior Vice President, Data Analytics | - | Oct. 2, 2020 |
| █████ █████████ | Senior Vice President, Policy and Advocacy | - | Oct. 2, 2020 |
| ███████ █████ | Senior Vice President, Retail Operations | - | Oct. 2, 2020 |
| ████ ████████ | Senior Vice President, Commercial Operations | - | Oct. 2, 2020 |
| ...and eight more key personnel |
Peer urban development organizations
| | Name | Type | Revenue | Location |
|---|
| 1 | Renaissance Community Loan Fund | 501(c)(3) | $4.7 million | Gulfport, MS |
| 2 | Bridgeway Capital | 501(c)(3) | $10 million | Pittsburgh, PA |
| 3 | Carolina Small Business Development Fund | 501(c)(3) | $8.9 million | Raleigh, NC |
| 4 | Access To Capital for Entrepreneurs | 501(c)(3) | $4.6 million | Cleveland, GA |
| 5 | Metropolitan Economic Development Association | 501(c)(3) | $7.3 million | Minneapolis, MN |
| 6 | Three Rivers Planning & Development District | 501(c)(3) | $21 million | Pontotoc, MS |
| 7 | Community Loan Fund of New Jersey | 501(c)(3) | $13 million | New Brunswick, NJ |
| 8 | Tunisian American Enterprise Fund (TAEF) | 501(c)(3) | $8.9 million | Washington, DC |
| 9 | Grow America Fund | 501(c)(3) | $5.2 million | New York, NY |
| 10 | Virginia Community Capital | 501(c)(3) | $8.0 million | Christiansburg, VA |
| 11 | Accion East | 501(c)(3) | $7.1 million | New York, NY |
| 12 | Pathway Lending | 501(c)(3) | $14 million | Nashville, TN |
| 13 | Northeast Mississippi Planning and Development District (NEMPDD) | 501(c)(3) | $6.7 million | Booneville, MS |
| 14 | Root Capital | 501(c)(3) | $22 million | Cambridge, MA |
| 15 | Main Street Launch | 501(c)(3) | $7.4 million | Oakland, CA |
| 16 | Montana Community Development Corporation | 501(c)(3) | $9.6 million | Missoula, MT |
| 17 | Leviticus 2523 Alternative Fund | 501(c)(3) | $4.7 million | Tarrytown, NY |
| 18 | First Nations Oweesta Corporation | 501(c)(3) | $8.3 million | Longmont, CO |
| 19 | TruFund Financial services | 501(c)(3) | $5.0 million | New York, NY |
| 20 | Launch Tennessee | 501(c)(3) | $6.6 million | Nashville, TN |
| 21 | Coastal Enterprises (CEI) | 501(c)(3) | $9.4 million | Brunswick, ME |
| 22 | Mission Economic Development Agency (MEDA) | 501(c)(3) | $12 million | San Francisco, CA |
| 23 | Uptown Reinvestment Corporation | 501(c)(3) | $13 million | Flint, MI |
| 24 | Invest Detroit | 501(c)(3) | $21 million | Detroit, MI |
| 25 | Neighborworks Capital Corporation | 501(c)(3) | $7.7 million | Silver Spring, MD |