Universal Housing Development Corp
- Assets
- $7.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 21
- Location
- Russellville, AR
- Founding
- 12/1974
- Data as of
- 06/2023
- EIN
- 23-7416304
Organization Overview
Universal Housing Development Corp is located in Russellville, AR. The organization was established in 1974. 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 06/2023, Universal Housing Development Corp employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Universal Housing Development 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 06/2023, Universal Housing Development Corp generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $1.7m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
AFFORDABLE HOUSING ASSISTANCE
Describe the Organization's Program Activity:
Part 3 - Line 4a
SECTION 8, 202 AND RURAL DEVELOPMENT 515 HOUSING ASSISTANCE PROVIDES FOR HOUSINGASSISTANCE PAYMENTS ON BEHALF OF ELIGIBLE TENANTS TOPROVIDE SAFE, DECENT & SANITARY HOUSING. 4283 CLIENTS WERE ASSISTED THROUGH THIS PROGRAM.
SELF HELP AND REHAB HOUSING PROVIDES TECHNICAL AND SUPERVISORYASSISTANCE THAT WILL AID NEEDY VERY LOW AND LOWINCOME FAMILIES IN BUILDING HOUSES/REHAB. 10 CLIENTSWERE ASSISTED BY THIS PROGRAM.
OTHER HOUSING PROGRAMS DESIGNED TO ASSIST FAMILIES IN OBTAINING AFFORDABLE HOUSING. 579 CLIENTS SERVED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Hubbard Board Member | Trustee | 0 | $0 |
Mark Thone Board Member | Trustee | 0 | $0 |
Johnnie Carolina Board Member | Trustee | 0 | $0 |
Chris George Board Member | Trustee | 0 | $0 |
Jimmy Hart Board Member | Trustee | 0 | $0 |
Rickey Bowman Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,137,659 |
| 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 | $1,137,659 |
| Total Program Service Revenue | $469,491 |
| Investment income | $31,988 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$30,678 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,919,511 |
| 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. | $146,000 |
| Compensation of current officers, directors, key employees. | $76,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $571,054 |
| Pension plan accruals and contributions | $45,041 |
| Other employee benefits | $102,673 |
| Payroll taxes | $45,567 |
| Fees for services: Management | $32,265 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $700 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $153,580 |
| Travel | $21,577 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,001 |
| Interest | $74,421 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $76,063 |
| Insurance | $77,404 |
| All other expenses | $0 |
| Total functional expenses | $1,699,739 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $410,953 |
| Savings and temporary cash investments | $2,685,878 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $54,879 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $883,053 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $31,165 |
| Net Land, buildings, and equipment | $2,633,579 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $386,214 |
| Intangible assets | $0 |
| Other assets | $3,582 |
| Total assets | $7,089,303 |
| Accounts payable and accrued expenses | $62,150 |
| 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 | $2,414,627 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $23,313 |
| Total liabilities | $2,500,090 |
| Net assets without donor restrictions | $4,535,393 |
| Net assets with donor restrictions | $53,820 |
| 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 | $7,089,303 |