Better Homes Of Seaford Inc
- Assets
- $6.1m
- Revenue
- $621.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Seaford, DE
- Founding
- 08/1990
- Data as of
- 12/2021
- EIN
- 23-7353267
Organization Overview
Better Homes Of Seaford Inc is located in Seaford, DE. The organization was established in 1990. 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 12/2021, Better Homes Of Seaford Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Better Homes Of Seaford 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 12/2021, Better Homes Of Seaford Inc generated $621.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $474.4k during the year ending 12/2021. While expenses have increased by 2.0% per year over the past 7 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWNER/SPONSOR OF FEDERALLY SUBSIDIZED, MULTI-FAMILY HOUSING PROJECTS PROVIDING 35 UNITS OF HOUSING TO LOW AND MODERATE INCOME FAMILIES. ALSO, SPONSORS AND DEVELOPS LOW INCOME HOUSING PROJECTS FOR OTHER ENTITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Norman Poole President | OfficerTrustee | 2 | $0 |
Ron Russell Vice Preside | OfficerTrustee | 2 | $0 |
Clementine Parker Director | OfficerTrustee | 2 | $0 |
Jane Smack Secretary | OfficerTrustee | 2 | $0 |
Shirely Caldwell Director | Trustee | 2 | $0 |
Fran Ruark Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $75,750 |
| 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 | $75,750 |
| Total Program Service Revenue | $520,115 |
| Investment income | $26,031 |
| 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 | $620,997 |
| 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 | $109,282 |
| Pension plan accruals and contributions | $8,917 |
| Other employee benefits | $5,330 |
| Payroll taxes | $8,861 |
| Fees for services: Management | $8,844 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,570 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $677 |
| Office expenses | $18,218 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,241 |
| Travel | $1,233 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,405 |
| Interest | $33,084 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,587 |
| Insurance | $12,213 |
| All other expenses | $0 |
| Total functional expenses | $474,400 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $363,858 |
| Savings and temporary cash investments | $15,013 |
| Pledges and grants receivable | $39,771 |
| Accounts receivable, net | $575,632 |
| 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 | $226 |
| Net Land, buildings, and equipment | $1,604,801 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,866,832 |
| Intangible assets | $0 |
| Other assets | $587,462 |
| Total assets | $6,053,595 |
| Accounts payable and accrued expenses | $27,610 |
| Grants payable | $0 |
| Deferred revenue | $681,733 |
| 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 | $1,344,035 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $248,908 |
| Total liabilities | $2,302,286 |
| Net assets without donor restrictions | $3,696,525 |
| Net assets with donor restrictions | $54,784 |
| 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 | $6,053,595 |
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|---|---|---|
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Mainstay Life Services Pittsburgh, PA | $23,133,484 | $27,133,047 |
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Shared Support South Inc Warrington, PA | $9,549,705 | $20,704,692 |
Viecare Butler Llc Cranberry Township, PA | $15,820,808 | $20,591,438 |
Valley View Haven Inc Belleville, PA | $35,512,325 | $21,268,828 |
Montgomery Housing Partnership Inc Silver Spring, MD | $117,127,971 | $17,924,784 |
The Arc Morris County Chapter Nj Inc Morris Plains, NJ | $23,360,035 | $22,219,596 |
Pathways To Housing Pa Philadelphia, PA | $7,362,789 | $17,371,070 |