Rural Housing For The Elderly
- Assets
- $3.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Manchester, NH
- Founding
- 11/1978
- Data as of
- 07/2020
- EIN
- 02-0341052
Organization Overview
Rural Housing For The Elderly is located in Manchester, NH. The organization was established in 1978. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 07/2020, Rural Housing For The Elderly generated $1.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $953.3k during the year ending 07/2020. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HOUSING FOR THE LOW INCOME ELDERLY AND LOW INCOME PEOPLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM PROVIDES HOUSING FOR ELDERLY AND LOW INCOME PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donnalee Lozeau Chairman | OfficerTrustee | 2 | $0 |
Ryan Clouthier Vice Chairman | OfficerTrustee | 2 | $0 |
James Chaisson Treasurer/secretary | OfficerTrustee | 2 | $0 |
Gregory Schneider Second Vice Chairman | OfficerTrustee | 2 | $0 |
Scott Garneau Trustee | Trustee | 2 | $0 |
Thomas Nelson Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $606 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,061 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,105,911 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $172,630 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $57,859 |
| Payroll taxes | $13,119 |
| Fees for services: Management | $60,546 |
| Fees for services: Legal | $6,598 |
| Fees for services: Accounting | $6,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $708 |
| Office expenses | $3,938 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $87,416 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $130,567 |
| Insurance | $27,891 |
| All other expenses | $0 |
| Total functional expenses | $953,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $276,133 |
| Savings and temporary cash investments | $21,662 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $13,736 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $108,548 |
| Other assets | $980,609 |
| Total assets | $2,991,518 |
| Accounts payable and accrued expenses | $361,395 |
| Grants payable | $0 |
| Deferred revenue | $99 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,079,578 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,662 |
| Total liabilities | $2,462,734 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $528,784 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Builders Inc Boston, MA | $124,474,195 | $84,219,407 |
Harbor Homes Inc Nashua, NH | $31,595,862 | $32,699,479 |
New Communities Inc Westbrook, ME | $19,495,535 | $21,194,578 |
Cambridge Affordable Housing Corporation Cambridge, MA | $136,870,580 | $10,886,409 |
Coastal Enterprises Inc Brunswick, ME | $105,726,277 | $9,413,252 |
Fit-Nhnh Inc Manchester, NH | $20,211,623 | $14,555,429 |
Avesta Housing Development Corporation Portland, ME | $56,826,112 | $8,741,762 |
Cambridge Community Housing Development Inc Cambridge, MA | $54,272,109 | $7,145,171 |
The Housing Foundation Incorporated Montpelier, VT | $36,960,857 | $7,210,098 |
Mishawum Park Tenants Association Inc Braintree, MA | $39,068,232 | $4,677,846 |
Downstreet Housing & Community Development Inc Barre, VT | $13,963,842 | $4,841,901 |
Housing Benefits Manchester, NH | $20,714,993 | $2,978,794 |