Hope Renewed Realty Corporation
EIN: 562393715 · Providence, RI · NTEE: L20
| Metric | Value |
|---|---|
| Total Revenue | $63K |
| Total Expenses | $577K |
| Net Assets | $-710,964 |
Is Hope Renewed Realty Corporation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hope Renewed Realty Corporation
Hope Renewed Realty Corporation (EIN: 562393715) is a nonprofit organization based in Providence, RI, classified under NTEE code L20. The organization reported total revenue of $63K and total assets of $670K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hope Renewed Realty Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hope Renewed Realty Corporation is a micro nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -23.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $58K |
| Total Expenses | $577K |
| Surplus / Deficit | $-519,176 |
| Total Assets | $750K |
| Total Liabilities | $1.5M |
| Net Assets | $-710,964 |
| Operating Margin | -894.9% |
| Debt-to-Asset Ratio | 194.8% |
| Months of Reserves | 15.6 months |
Financial Health Grade: C
In 2023, Hope Renewed Realty Corporation reported a deficit of $519K with expenses exceeding revenue, holds 15.6 months of operating reserves (strong position), has a debt-to-asset ratio of 194.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Hope Renewed Realty Corporation's revenue has declined at a compound annual growth rate (CAGR) of -23.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.9% | +167.6% | +28.7% |
| 2022 | +24.1% | +197.3% | -26.7% |
| 2021 | -12.1% | -94.0% | -0.8% |
| 2020 | -10.3% | +1149.2% | -58.7% |
| 2019 | +15.5% | -14.7% | -0.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Hope Renewed Realty Corporation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hope Renewed Realty Corporation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $519K, with expenses exceeding revenue.
- Debt-to-asset ratio: 194.8%.
Frequently Asked Questions about Hope Renewed Realty Corporation
Is Hope Renewed Realty Corporation a legitimate charity?
Hope Renewed Realty Corporation (EIN: 562393715) is a registered tax-exempt nonprofit based in Rhode Island. It has 13 years of IRS 990 filings on record. Total revenue: $63K. No red flags identified. Financial health grade: C.
How does Hope Renewed Realty Corporation spend its money?
Hope Renewed Realty Corporation reported $63K in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Hope Renewed Realty Corporation tax-deductible?
Hope Renewed Realty Corporation is registered as a tax-exempt nonprofit (EIN: 562393715). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Hope Renewed Realty Corporation located?
Hope Renewed Realty Corporation is headquartered in Providence, Rhode Island and files with the IRS under EIN 562393715. It is classified under NTEE code L20.
How many years of IRS 990 filings does Hope Renewed Realty Corporation have?
Hope Renewed Realty Corporation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $63K in total revenue.
Filing History
IRS 990 filing history for Hope Renewed Realty Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Hope Renewed Realty Corporation's revenue has declined by 96%, moving from $1.4M to $58K. Total assets decreased by 81.5% over the same period, from $4.1M to $750K. Total functional expenses rose by 19.4%, from $483K to $577K. In its most recent filing year (2023), Hope Renewed Realty Corporation reported a deficit of $519K, with expenses exceeding revenue. The organization holds $1.5M in liabilities against $750K in assets (debt-to-asset ratio: 194.8%), resulting in net assets of $-710,964.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $58K | $577K | $750K | $1.5M | — | — |
| 2022 | $54K | $216K | $583K | $1.2M | — | View 990 |
| 2021 | $44K | $73K | $795K | $1.3M | — | — |
| 2020 | $50K | $1.2M | $801K | $900K | — | — |
| 2019 | $55K | $96K | $1.9M | $893K | — | View 990 |
| 2018 | $48K | $113K | $2.0M | $870K | — | View 990 |
| 2017 | $49K | $75K | $2.0M | $873K | — | View 990 |
| 2016 | $55K | $65K | $2.0M | $867K | — | View 990 |
| 2015 | $-53,950 | $106K | $2.1M | $877K | — | View 990 |
| 2014 | $-90,184 | $123K | $2.3M | $995K | — | View 990 |
| 2013 | $60K | $112K | $2.7M | $1.1M | — | View 990 |
| 2012 | $283K | $488K | $2.7M | $1.1M | — | View 990 |
| 2011 | $1.4M | $483K | $4.1M | $2.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $58K, expenses of $577K, and assets of $750K (revenue +6.9% year-over-year).
- 2022: Revenue of $54K, expenses of $216K, and assets of $583K (revenue +24.1% year-over-year).
- 2021: Revenue of $44K, expenses of $73K, and assets of $795K (revenue -12.1% year-over-year).
- 2020: Revenue of $50K, expenses of $1.2M, and assets of $801K (revenue -10.3% year-over-year).
- 2019: Revenue of $55K, expenses of $96K, and assets of $1.9M (revenue +15.5% year-over-year).
- 2018: Revenue of $48K, expenses of $113K, and assets of $2.0M (revenue -2.4% year-over-year).
- 2017: Revenue of $49K, expenses of $75K, and assets of $2.0M (revenue -9.8% year-over-year).
- 2016: Revenue of $55K, expenses of $65K, and assets of $2.0M.
- 2015: Revenue of $-53,950, expenses of $106K, and assets of $2.1M.
- 2014: Revenue of $-90,184, expenses of $123K, and assets of $2.3M (revenue -250.0% year-over-year).
- 2013: Revenue of $60K, expenses of $112K, and assets of $2.7M (revenue -78.8% year-over-year).
- 2012: Revenue of $283K, expenses of $488K, and assets of $2.7M (revenue -80.2% year-over-year).
- 2011: Revenue of $1.4M, expenses of $483K, and assets of $4.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hope Renewed Realty Corporation:
Data Sources and Methodology
This transparency report for Hope Renewed Realty Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.