Duncombe Apartments Incorporated
- Assets
- $78.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Algona, IA
- Founding
- 04/1973
- Data as of
- 12/2022
- EIN
- 23-7175436
Organization Overview
Duncombe Apartments Incorporated is located in Algona, IA. The organization was established in 1973. 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. Duncombe Apartments Incorporated is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Duncombe Apartments Incorporated generated $67.5k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $71.6k during the year ending 12/2022. While expenses have increased by 0.7% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
TO PROVIDE LOW RENT HOUSING FOR THE ELDERLY, DISABLED, AND FAMILIES. RENT IS BASED ON 30% OF THE APPLICANT'S YEARLY ADJUSTED INCOME WITH THE REMAINDER SUBSIDIZED BY USDA/RURAL DEVELOPMENT. THIS ORGANIZATION MADE IT POSSIBLE FOR 14 FAMILIES TO FIND SAFE AND AFFORDABLE HOUSING IN DUNCOMBE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joline Klein President | 0 | $0 | |
Mary Jane Kudla Vice President | 0 | $0 | |
Don Wakeman Secretary/treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $65,282 |
| Membership dues | $0 |
| Investment income | $55 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $2,152 |
| Total Revenue | $67,489 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $8,792 |
| Occupancy, rent, utilities, and maintenance | $40,734 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $22,094 |
| Total expenses | $71,620 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $58,836 |
| Other assets | $0 |
| Total assets | $78,370 |
| Total liabilities | $26,586 |
| Net assets or fund balances | $51,784 |