Our First Home Inc
- Assets
- $32.0k
- Revenue
- -$62.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Yarmouth Port, MA
- Founding
- 05/1999
- Data as of
- 12/2016
- EIN
- 04-3454457
Organization Overview
Our First Home Inc is located in Yarmouth Port, MA. The organization was established in 1999. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Our First Home 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 12/2016, Our First Home Inc generated -$62.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (12.5%) each year. All expenses for the organization totaled $951.0 during the year ending 12/2016. As we would expect to see with falling revenues, expenses have declined by (4.6%) per year over the past 2 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO BUILD NEW HOMES AND SELL THEM THROUGH A HOUSING LOTTERY AT PRICES FAR BELOW MARKET VALUE AND TO RENOVATE EXISTING HOMES PUTTING THEM UP FOR SALE WITH A PERMANENT AFFORDABLE HOUSING DEED RESTRICTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING PROJECTS LOCATED IN YARMOUTH MASSACHUSETTS. HOMES CONSTRUCTED OR RENOVATED FOR LOW-INCOME HOMEBUYERS PER THE ORGANIZATIONS MISSION STATEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter L Freeman President | OfficerTrustee | 5 | $0 |
Frederic Presbrey Treasurer | OfficerTrustee | 1 | $0 |
Marilyn Monroe Clerk | OfficerTrustee | 1 | $0 |
Pearl Wolfson Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $75,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $75,000 |
| Total Program Service Revenue | $0 |
| Investment income | $6 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$137,443 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$62,437 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $951 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,173 |
| Savings and temporary cash investments | $5,833 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,006 |
| Accounts payable and accrued expenses | $0 |
| 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 | $24,710 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $24,710 |
| Unrestricted restricted net Assets | $7,296 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $7,296 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ndc Housing And Economic Development Corporation Brooklyn, NY | $24,571,760 | $10,401,743 |
Crotona Park West Housing Development Fund Corporation New York, NY | $24,353,081 | $7,261,955 |
Evergreen Estates Housing Development Fund Company Inc New York, NY | $7,286,125 | $3,876,768 |
Bushwick United Housing Development Fund Corporation Brooklyn, NY | $1,708,540 | $8,681,801 |
Settlement Housing Fund Inc New York, NY | $50,728,547 | $11,765,294 |
Associated Blind Housing Development Fund Inc Suffern, NY | $60,912,247 | $8,378,742 |
Housing Plus Solutions Inc Brooklyn, NY | $3,042,973 | $8,488,252 |
Owl Tallahassee Housing Inc Boston, MA | $28,680,052 | $6,023,225 |
Hearth Inc Boston, MA | $12,790,165 | $7,949,326 |
Neighbors Of Watertown Inc Watertown, NY | $21,338,681 | $8,351,713 |
Hope Community Inc New York, NY | $47,085,503 | $9,079,771 |
Mercy Haven Inc islip terrace, NY | $17,804,719 | $7,418,367 |