Brighton Properties Inc
- Assets
- $14.1m
- Revenue
- $1.8m
- Investments
- $6.6m
- Employees
- 12
- Location
- Newport, KY
- Founding
- 06/1997
- Data as of
- 06/2024
- EIN
- 31-1535241
Organization Overview
Brighton Properties Inc is located in Newport, KY. The organization was established in 1997. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 06/2024, Brighton Properties Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brighton Properties 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 06/2024, Brighton Properties Inc generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.8%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST INDIVIDUALS AND FAMILIES IN OBTAINING SELF-SUFFICIENCY BY DEVELOPING HOUSING OPPORTUNITIES THAT BRING STABILITY TO FAMILIES, INDIVIDUALS, AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY MANAGEMENT - BRIGHTON PROPERTIES, INC. EFFECTIVELY MANAGES RENTAL PROPERTIES THAT ENSURE DECENT, SAFE, HIGH-QUALITY, INCOME-ALIGNED, AND ACCESSIBLE LIVING CONDITIONS; AND DEVELOPS AND MAINTAINS QUALITY SERVICE ENVIRONMENTS THAT ASSIST BRIGHTON CENTER IN ACHIEVING ITS MISSION. BRIGHTON PROPERTIES OWNS AND MAINTAINS 9 SERVICE FACILITIES HOUSING BRIGHTON CENTER PROGRAMS RANGING FROM EMERGENCY ASSISTANCE TO EMERGENCY SHELTER, 8 PROPERTIES WITH A TOTAL OF 101 HOUSING UNITS FOR INDIVIDUALS AND FAMILIES AND THOSE WITH DISABILITIES, AND OVERSEES 3 ADDITIONAL MULTI-FAMILY PROPERTIES WITH A TOTAL OF 207 UNITS FOR OLDER ADULTS.
HOUSING DEVELOPMENT - BRIGHTON PROPERTIES, INC. IS ACTIVE IN CONVENING REGIONAL PARTNERS TO CREATE A STRATEGIC RESPONSE TO ADDRESS HOUSING NEEDS AT ALL INCOME LEVELS, DEVELOPING HOUSING FOR BOTH RENTAL AND PURCHASE THAT IS INCOME-ALIGNED TARGETING LOW TO MODERATE INCOME HOUSEHOLDS, AS WELL AS REHABILITATING EXISTING HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Crecco Vice Chair | OfficerTrustee | 1 | $0 |
Julie Schoepf Treasurer | OfficerTrustee | 1 | $0 |
Joyce Duve Director Exit-04/23 | Trustee | 1 | $0 |
Ken Muth Secretary | OfficerTrustee | 1 | $0 |
Aaron Anderson Director | Trustee | 1 | $0 |
Robert Arnold Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $50,000 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $131,785 |
| All other contributions, gifts, grants, and similar amounts not included above | $118,463 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $300,248 |
| Total Program Service Revenue | $1,402,481 |
| Investment income | $56,490 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,265 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,756,954 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,377 |
| 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 | $489,443 |
| Pension plan accruals and contributions | $27,527 |
| Other employee benefits | $92,912 |
| Payroll taxes | $38,345 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $166,027 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $638 |
| Fees for services: Other | $93,590 |
| Advertising and promotion | $0 |
| Office expenses | $8,712 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $179,261 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $48,481 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $185,081 |
| Insurance | $35,116 |
| All other expenses | $0 |
| Total functional expenses | $1,441,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,158,609 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $278,140 |
| Accounts receivable, net | $160,290 |
| 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 | $5,758 |
| Net Land, buildings, and equipment | $4,395,578 |
| Investments—publicly traded securities | $407,679 |
| Investments—other securities | $6,614,704 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $65,853 |
| Total assets | $14,086,611 |
| Accounts payable and accrued expenses | $68,522 |
| 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 | $1,818,135 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,886,657 |
| Net assets without donor restrictions | $11,610,593 |
| Net assets with donor restrictions | $589,361 |
| 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 | $14,086,611 |