Gulf Coast Housing Initiative Inc
- Assets
- $692.3k
- Revenue
- $138.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Biloxi, MS
- Founding
- 09/2009
- Data as of
- 12/2021
- EIN
- 02-0812143
Organization Overview
Gulf Coast Housing Initiative Inc is located in Biloxi, MS. The organization was established in 2009. 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. Gulf Coast Housing Initiative Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Gulf Coast Housing Initiative Inc generated $138.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.3%) each year. All expenses for the organization totaled $171.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.7%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE, SAFE AND DIGNIFIED HOUSING OPPORTUNITIES AND SERVICES TO LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES ON THE MISSISSIPPI GULF COAST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGEMENT OF HOUSING FOR HOMELESS VERTERANS; ACQUISITION OF PROPERTIES TO BE REHABILITATED AND SOLD TO LOW AND MODERATE INCOME HOMEBUYERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Everett E Lewis Executive Di | Officer | 40 | $52,890 |
Rev James Pennington Corporate Pr | OfficerTrustee | $0 | |
Allytra Perryman Secretary | OfficerTrustee | $0 | |
Barbara Levine Treasurer | OfficerTrustee | $0 | |
Janice Marsh Board Chairp | OfficerTrustee | $0 | |
Stephen O'mara Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,592 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,092 |
| Total Program Service Revenue | $105,124 |
| Investment income | $61 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,220 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $138,497 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $52,890 |
| Compensation of current officers, directors, key employees. | $10,578 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $7,405 |
| Other employee benefits | $3,582 |
| Payroll taxes | $4,064 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $52 |
| Fees for services: Accounting | $6,616 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,397 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,000 |
| Travel | $96 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $171,863 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $265,803 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $336,225 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $90,315 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $692,343 |
| Accounts payable and accrued expenses | $133,569 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $105,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $238,569 |
| Net assets without donor restrictions | $337,886 |
| Net assets with donor restrictions | $115,888 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $692,343 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Preservation Housing Inc Mobile, AL | $45,095,355 | $8,020,455 |
Louisiana Housing Assistance Corporation Alexandria, LA | $350,109 | $3,738,733 |
South Mississippi Housing Anddevelopment Corporation Gulfport, MS | $21,301,727 | $2,501,846 |
Christopher Homes Inc New Orleans, LA | $9,980,872 | $3,196,519 |
Scottsboro Housing & Social Services Inc Scottsboro, AL | $12,212,835 | $2,362,761 |
Universal Housing Development Corp Russellville, AR | $5,289,715 | $1,746,662 |
Senior Living Concepts Bentonville, AR | $4,055,724 | $1,668,432 |
Cme-Southside Villas Inc Nashville, TN | $2,839,422 | $1,297,019 |
Episcopal Housing Foundation Inc Birmingham, AL | $2,677,738 | $1,358,660 |
Presbyterian Homes Of Decatur Inc Decatur, AL | $2,666,220 | $1,219,464 |
St John Alexander Tower Inc Little Rock, AR | $2,055,822 | $1,351,843 |
Catholic Housing Authority Of Montgomery Inc Montgomery, AL | $5,843,066 | $956,538 |