HOPE Enterprise Corporation

Overview

HOPE Enterprise Corporation is a private, nonprofit community development financial institution (CDFI) dedicated to strengthening communities and improving lives in economically distressed areas of the United States. It operates primarily in Alabama, Arkansas, Louisiana, Mississippi, and Tennessee.

History

Founded in 1994 as Enterprise Corporation of the Delta (ECD), its mission was to create prosperity and growth in the Mississippi Delta region. Over time, it expanded its focus and services, and in 2003, ECD was rebranded as HOPE Enterprise Corporation to align more closely with its affiliated organizations, including Hope Credit Union and Hope Policy Institute.

Services and Impact

HOPE Enterprise Corporation provides commercial financing, mortgage loans, and technical assistance to support businesses, entrepreneurs, homebuyers, and community development projects. It has generated over $2.5 billion in financing and related services for various groups, including the unbanked and underbanked, entrepreneurs, homeowners, and nonprofit organizations.

As part of the HOPE family of organizations, it collaborates with community development organizations, private industry, public agencies, and philanthropists to enhance its impact. HOPE's efforts have benefitted more than 1 million individuals in one of the nation's most impoverished regions.

Structure

HOPE Enterprise Corporation is a 501(c)(3) organization, meaning donations to it are tax-deductible. It operates as part of a broader network that includes Hope Credit Union, which offers financial services to low- and moderate-income residents, and the Hope Policy Institute, which focuses on policy analysis and advocacy.

Revenue and Financials

The organization's revenue is predominantly derived from contributions, which account for a significant portion of its total revenue, alongside income from program services. HOPE's assets and liabilities reflect its ongoing efforts in community development and financial services.

Mission and Vision

The mission of HOPE Enterprise Corporation is to strengthen communities, build assets, and improve lives by providing affordable financial services, leveraging resources, and engaging in policy advocacy. Its vision is to be a leader in the national effort to improve conditions in under-resourced communities, prioritizing the needs and aspirations of those it serves.