Lea County Housing Inc
- Assets
- $1.2m
- Revenue
- $8.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Hobbs, NM
- Founding
- 10/2004
- Data as of
- 09/2020
- EIN
- 20-0951085
Organization Overview
Lea County Housing Inc is located in Hobbs, NM. The organization was established in 2004. 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. As of 09/2020, Lea County Housing Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lea County Housing 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 09/2020, Lea County Housing Inc generated $8.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (33.7%) each year. All expenses for the organization totaled $16.8k during the year ending 09/2020. As we would expect to see with falling revenues, expenses have declined by (27.6%) per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO INCREASE QUALITY QUANTITY AND AVAILABLITY OF AFFORDABLE HOUSING IN LEA COUNTY
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
R Haynes Pres | OfficerTrustee | 1 | $0 |
D Wall Treasurer | OfficerTrustee | 1 | $0 |
B Choice Secretary | OfficerTrustee | 1 | $0 |
W Bell VP | OfficerTrustee | 1 | $0 |
P Sims Member | Trustee | 1 | $0 |
J Hernandez Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,300 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $8,300 |
| 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 | $5,467 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $418 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,750 |
| 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 | $189 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,800 |
| Travel | $377 |
| 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 | $552 |
| All other expenses | $0 |
| Total functional expenses | $16,838 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,321 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,136,000 |
| Accounts receivable, net | $46,995 |
| 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 | $192 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,241,508 |
| Accounts payable and accrued expenses | $6,908 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,908 |
| 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 | $1,234,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Merced Housing Texas San Antonio, TX | $50,611,683 | $9,858,961 |
Community Housing Concepts Inc Denver, CO | $87,603,673 | $7,035,643 |
Trinity Affordable Housing Corporation Austin, TX | $27,521,509 | $8,167,693 |
Community Resources & Housing Development Corporation Westminster, CO | $39,546,722 | $6,041,584 |
Elevation Community Land Trust Denver, CO | $49,445,560 | $8,122,320 |
Assisting Texas With Housing Inc Austin, TX | $21,990,420 | $4,581,783 |
Dallas Neighborhood Alliance For Habitat Dallas, TX | $1,401,689 | $4,975,573 |
Residences At Eaton Senior Communities Lakewood, CO | $12,361,716 | $4,288,663 |
Arizona Housing Inc Phoenix, AZ | $15,313,221 | $3,724,119 |
Thistle Community Housing Boulder, CO | $53,794,788 | $7,131,075 |
Tierra Del Sol Housing Corporation Las Cruces, NM | $16,041,382 | $6,574,879 |
Kivel Manor Inc Phoenix, AZ | $8,418,110 | $3,130,983 |