Race Housing Corporation
- Assets
- $410.9k
- Revenue
- $26.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Cincinnati, OH
- Founding
- 11/2007
- Data as of
- 12/2023
- EIN
- 26-0393656
Organization Overview
Race Housing Corporation is located in Cincinnati, OH. The organization was established in 2007. 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 the central organization for a national or regional group of organizations. Race Housing Corporation 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 12/2023, Race Housing Corporation generated $26.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $49.1k during the year ending 12/2023. While expenses have increased by 4.6% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES RESIDENTIAL SERVICES, SKILL DEVELOPMENT, SUPPORT SERVICES, AND MENTAL HEALTH SERVICE TO CHILDREN AND ADULTS WITH DEVELOPMENTAL DISABILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
(A) TO BUY, OWN, SELL, ASSIGN, MORTGAGE, OR LEASE ANY INTEREST IN REAL ESTATE AND PERSONAL PROPERTY AND TO CONSTRUCT, MAINTAIN, AND OPERATE IMPROVEMENTS THEREON NECESSARY OR INCIDENT TO THE ACCOMPLISHMENT OF THE PURPOSES SET FORTH IN ARTICLE II HEREOF, BUT SOLELY IN CONNECTION WITH THE PROJECT ASSISTED UNDER SECTION 202 OF THE HOUSING ACT OF 1959, AS AMENDED OR SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT. (B) TO BORROW MONEY AND ISSUE EVIDENCE OF INDEBTEDNESS IN FURTHERANCE OF ANY OR ALL OF THE OBJECTS OF ITS BUSINESS, AND TO SECURE THE SAME BY MORTGAGE, PLEDGE, OR OTHER LIEN ON THE CORPORATION'S PROPERTY. (C) TO DO AND PERFORM ALL ACTS REASONABLY NECESSARY TO ACCOMPLISH THE PURPOSES OF THE CORPORATION, INCLUDING THE EXECUTION OF A REGULATORY AGREEMENT WITH THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT, AND OF SUCH OTHER INSTRUMENTS AND UNDERTAKINGS AS MAY BE NECESSARY TO ENABLE THE CORPORATION, ITS SUCCESSORS AND ASSIGNS, SO LONG AS A MORTGAGE ON THE CORPORATION'S PROPERTY IS HELD BY THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT. (D) IN THE EVENT OF THE DISSOLUTION OF THE CORPORATION OR THE WINDING UP OF ITS AFFAIRS, OR OTHER LIQUIDATION OF ITS ASSETS, THE CORPORATION'S PROPERTY SHALL NOT BE CONVEYED TO ANY ORGANIZATION CREATED OR OPERATED FOR PROFIT OR TO ANY INDIVIDUAL AND ALL ASSETS REMAINING AFTER THE PAYMENT OF THE CORPORATION'S DEBTS SHALL BE CONVEYED OR DISTRIBUTED ONLY TO AN ORGANIZATION OR ORGANIZATIONS CREATED AND OPERATED FOR NONPROFIT PURPOSES SIMILAR TO THOSE OF THE CORPORATION OTHER THAN ONE CREATED FOR RELIGIOUS PURPOSES; PROVIDED, HOWEVER, THAT THE CORPORATION SHALL AT ALL TIMES HAVE THE POWER TO CONVEY ANY OR ALL OF ITS PROPERTY TO THE SECRETARY OF HOUSING AND URBAN DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Steffey CEO | Officer | 1 | $0 |
Barry Chambers 123-121023 CFO | Officer | 1 | $0 |
Keith Luken 121123-Present CFO | Officer | 1 | $0 |
Susan Pahner Chair | OfficerTrustee | 1 | $0 |
Scott Nekolny Vice Chair | OfficerTrustee | 1 | $0 |
Matt Spinelli Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $26,391 |
| Investment income | $13 |
| 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 | $26,404 |
| 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 | $525 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $2,565 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,630 |
| Advertising and promotion | $0 |
| Office expenses | $919 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,801 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,225 |
| Insurance | $3,898 |
| All other expenses | $0 |
| Total functional expenses | $49,113 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,702 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $1,076 |
| Net Land, buildings, and equipment | $375,386 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $26,696 |
| Total assets | $410,860 |
| Accounts payable and accrued expenses | $147,183 |
| Grants payable | $0 |
| Deferred revenue | $73 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,305 |
| Total liabilities | $148,561 |
| Net assets without donor restrictions | -$173,901 |
| Net assets with donor restrictions | $436,200 |
| 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 | $410,860 |