Homestead Inc
- Assets
- $998.9k
- Revenue
- $891.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Woodstock, VT
- Founding
- 12/1957
- Data as of
- 03/2023
- EIN
- 03-0195636
Organization Overview
Homestead Inc is located in Woodstock, VT. The organization was established in 1957. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., 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. Homestead 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 03/2023, Homestead Inc generated $891.9k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.2m during the year ending 03/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOMESTEAD, INC. WAS FOUNDED IN 1957 AND IS A HOME FOR SENIOR CITIZENS IN THE WOODSTOCK, VT AREA. THE HOMESTEAD ACCOMODATES UP TO 24 RESIDENTS AT ONE TIME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Tobiason President | 1 | $0 | |
Kerri Elkouh Executive Director | 40 | $85,216 | |
Gregory Camp Clerk | 1 | $0 | |
Joseph Swanson Treasurer | 1 | $0 | |
Beatrice Jennings Trustee | 1 | $0 | |
Zoie Parent Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $572,835 |
| Interest on Savings | $676 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $318,433 |
| Total Revenue | $891,944 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $85,216 |
| Other employee salaries and wages | $588,126 |
| Pension plans, employee benefits | $163,255 |
| Interest | $0 |
| Taxes | $50,977 |
| Depreciation | $41,514 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $275,141 |
| Total operating and administrative expenses | $1,228,051 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $1,228,051 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $309,350 |
| Net Accounts receivable | $3,403 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $4,995 |
| Prepaid expenses and deferred charges | $31,922 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $640,338 |
| Other assets | $8,932 |
| Total assets | $998,940 |
| Accounts payable and accrued expenses | $73,656 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $73,656 |