Presbyterian Housing Corp
- Assets
- $4.2m
- Revenue
- $198.2k
- Investments
- $4.0
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 01/1980
- Data as of
- 07/2021
- EIN
- 23-7230453
Organization Overview
Presbyterian Housing Corp is located in Lexington, KY. The organization was established in 1980. 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. Presbyterian Housing Corp 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 07/2021, Presbyterian Housing Corp generated $198.2k 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 (23.6%) each year. All expenses for the organization totaled $210.2k during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (23.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST IN PROVIDING AFFORDABLE HOUSING TO LOW-INCOME FAMILIES AND INDIVIDUALS.
Describe the Organization's Program Activity:
THE PRESBYTERIAN HOUSING CORPORATION OWNS & OPERATES TWO HOUSING PROJECTS FOR LOW-INCOME FAMILIES & INDIVIDUALS. THERE ARE A TOTAL OF 152 UNITS AVAILABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Raines Treasurer | Officer | 2 | $0 |
Evelyn Kramer Secretary | Officer | 2 | $0 |
Stan Kramer President | Officer | 2 | $0 |
Rett Mcgoodwin Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $165,378 |
| 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 | $165,378 |
| Total Program Service Revenue | $29,617 |
| Investment income | $3 |
| 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 | $198,198 |
| 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 | $18,601 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,874 |
| Payroll taxes | $1,352 |
| Fees for services: Management | $9,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $119 |
| Office expenses | $63,327 |
| 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 | $40,577 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,833 |
| Insurance | $18,135 |
| All other expenses | $8,420 |
| Total functional expenses | $210,238 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $72,815 |
| Savings and temporary cash investments | $976 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,047,175 |
| 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 | $1,093,963 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,778 |
| Total assets | $4,218,711 |
| Accounts payable and accrued expenses | $5,330 |
| Grants payable | $0 |
| Deferred revenue | $207 |
| 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 | $916,542 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,279 |
| Total liabilities | $927,358 |
| Net assets without donor restrictions | $3,291,353 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,218,711 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gene B Glick Family Housing Foundation Inc Indianapolis, IN | $374,839,062 | $69,361,551 |
Community Housing Partners Corporation Christiansburg, VA | $210,530,324 | $87,907,515 |
Nef Community Investments Inc Chicago, IL | $49,835,744 | $69,249,511 |
Resurrection Project Chicago, IL | $50,016,508 | $28,523,400 |
Ahc Inc Arlington, VA | $252,147,992 | $33,394,070 |
Elevate Housing Foundation Lincolnwood, IL | $28,372,310 | $19,775,453 |
Community Investment Corp Chicago, IL | $332,682,140 | $31,622,758 |
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Affordable Housing Development Fund Inc Rockford, IL | $87,465,066 | $18,557,415 |
Chicago Low Income Housing Trust Fund Chicago, IL | $68,435,328 | $24,410,244 |
Interfaith Housing Development Corporation Of Chicago Chicago, IL | $13,790,371 | $15,355,980 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |