Riverton Community Housing
- Assets
- $52.2m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 23
- Location
- Minneapolis, MN
- Founding
- 02/1973
- Data as of
- 06/2020
- EIN
- 23-7259966
Organization Overview
Riverton Community Housing is located in Minneapolis, MN. The organization was established in 1973. 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. As of 09/2021, Riverton Community Housing employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riverton Community Housing 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 06/2020, Riverton Community Housing generated $6.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $5.7m during the year ending 06/2020. While expenses have increased by 7.8% per year over the past 6 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND MAINTAIN QUALITY, STUDENT-ORIENTED HOUSING COMMUNITIES OPERATING ON A NON-PROFIT, DEMOCRATIC BASIS.
Describe the Organization's Program Activity:
TO PROVIDE HOUSING TO COLLEGE STUDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Novak Executive Di | Trustee | 40 | $138,979 |
Rachel Rice Treasurer | OfficerTrustee | 1 | $0 |
Brian Dusbiber Secretary | OfficerTrustee | 1 | $0 |
Jason Kenley President | OfficerTrustee | 1 | $0 |
Michael Shepard Vice Preside | OfficerTrustee | 0.5 | $0 |
Jaren Johnson Trustee/dire | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $101,976 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $124,254 |
| 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 | $6,167,785 |
| 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. | $305,043 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $724,956 |
| Pension plan accruals and contributions | $50,537 |
| Other employee benefits | $109,324 |
| Payroll taxes | $88,919 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,175 |
| Fees for services: Accounting | $17,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $110,000 |
| Advertising and promotion | $14,178 |
| Office expenses | $11,814 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $31,396 |
| Travel | $5,220 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,177 |
| Interest | $2,203,175 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,419,558 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,657,547 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,322,649 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $851,865 |
| 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 | $50,784 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,123,822 |
| Other assets | $6,663,637 |
| Total assets | $52,152,152 |
| Accounts payable and accrued expenses | $979,627 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $47,870,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $415,380 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,498 |
| Total liabilities | $49,270,505 |
| 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 | $2,881,647 |
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Phm New Richmond Senior Housing Inc Roseville, MN | $18,158,628 | $8,376,438 |
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