Independence Industries
- Assets
- $606.2k
- Revenue
- $567.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Mount Vernon, OH
- Founding
- 04/1978
- Data as of
- 09/2022
- EIN
- 31-0915296
Organization Overview
Independence Industries is located in Mount Vernon, OH. The organization was established in 1978. 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. Independence Industries 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 09/2022, Independence Industries generated $567.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $590.0k during the year ending 09/2022. While expenses have increased by 0.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING FOR ELDERLY AND HANDICAPPED PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDEPENDENCE INDUSTRIES IS A NON-PROFIT CORPORATION WITH THE PURPOSE TO PROVIDE HOUSING FOR THE ELDERLY AND HANDICAPPED WITH LOW OR EXTREMELY LOW INCOMES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Catherine Henthorn President | Trustee | 10 | $0 |
Shar Shingler Secretary | Trustee | 10 | $0 |
Annette Casto Treasurer | Trustee | 10 | $0 |
Brent Nimeth MD Trustee | Trustee | 5 | $0 |
James Zak Vice President | Trustee | 5 | $0 |
Fred Carol MD Trustee | Trustee | 5 | $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 | $567,845 |
| Investment income | $78 |
| 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 | $567,923 |
| 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 | $93,117 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,465 |
| Fees for services: Management | $28,294 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,680 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,014 |
| Office expenses | $5,119 |
| 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 | $87,599 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,976 |
| Insurance | $33,884 |
| All other expenses | $44,832 |
| Total functional expenses | $589,956 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,314 |
| 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 | $37,257 |
| Net Land, buildings, and equipment | $306,028 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $48,848 |
| Other assets | $204,720 |
| Total assets | $606,167 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,304,742 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $78,905 |
| Total liabilities | $1,383,647 |
| Net assets without donor restrictions | -$777,480 |
| 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 | $606,167 |
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