Summit Housing Development Corporation
- Assets
- $24.0m
- Revenue
- $6.1m
- Investments
- $0.0
- Employees
- 4
- Location
- Cuyahoga Falls, OH
- Founding
- 08/1992
- Data as of
- 12/2021
- EIN
- 34-1703387
Organization Overview
Summit Housing Development Corporation is located in Cuyahoga Falls, OH. The organization was established in 1992. 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, Summit Housing Development Corporation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summit Housing Development 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 12/2021, Summit Housing Development Corporation generated $6.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.0% each year . All expenses for the organization totaled $2.1m during the year ending 12/2021. While expenses have increased by 9.3% 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
TO SECURE AND MAINTAIN HOUSING FOR INDIVIDUALS WITH DELEVOPMENTAL DISABILITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2021, SUMMIT HOUSING DEVELOPMENT CORPORATION OWNED AND MANAGED 154 RESIDENTIAL PROPERTIES THAT WERE LEASED TO DEVELOPMENTALLY DISABLED INDIVIDUALS BASED ON CHOICE, NEED, ACCESSIBILTY AND LOCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Jacobs Executive Di | OfficerTrustee | 40 | $182,043 |
Sara Kline President | OfficerTrustee | 2 | $0 |
Chris Filler Vice Preside | OfficerTrustee | 1 | $0 |
Stan Debro Trustee | Trustee | 1 | $0 |
Linda Evans Trustee | Trustee | $0 | |
Barb Vimont Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tri-county Renovation Llc Building Improv | 12/30/21 | $890,572 |
Silver Creek Building Solutions Llc Building Improv | 12/30/21 | $233,780 |
Crooked River Remodelingllc Crooked River Remodeling Building Improv | 12/30/21 | $274,353 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,217,951 |
| All other contributions, gifts, grants, and similar amounts not included above | $74,500 |
| Noncash contributions included in lines 1a–1f | $3,217,951 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,292,451 |
| Total Program Service Revenue | $1,913,947 |
| Investment income | $630 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $311,247 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,108,659 |
| 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. | $182,043 |
| Compensation of current officers, directors, key employees. | $182,043 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $123,709 |
| Pension plan accruals and contributions | $8,223 |
| Other employee benefits | $39,571 |
| Payroll taxes | $19,701 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,574 |
| Advertising and promotion | $9,542 |
| Office expenses | $6,809 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $14,524 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $44,944 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $769,785 |
| Insurance | $55,100 |
| All other expenses | $87,604 |
| Total functional expenses | $2,073,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $307,494 |
| Savings and temporary cash investments | $1,496,817 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,385 |
| 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 | $11,528 |
| Net Land, buildings, and equipment | $22,191,064 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,755 |
| Total assets | $24,042,043 |
| Accounts payable and accrued expenses | $95,666 |
| Grants payable | $0 |
| Deferred revenue | $13,798 |
| 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 | $8,469,590 |
| Unsecured mortgages and notes payable | $128,800 |
| Other liabilities | $2,300 |
| Total liabilities | $8,710,154 |
| Net assets without donor restrictions | $15,331,889 |
| 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 | $24,042,043 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Summit Housing Development Corporation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Community Fund Management Foundation Middleburg Heights, OH PURPOSE: HOUSING FOR THE DEVELOPMENTALLY DISABLED CITIZENS OF SUMMIT, PORTAGE AND WASHINGTON COUNTIES IN OHIO | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Cinnaire Corporation Cinnaire Lansing, MI | $74,619,323 | $21,850,720 |
Pathways To Housing Pa Philadelphia, PA | $7,362,789 | $17,371,070 |
Bethany Housing Ministries Inc Muskegon, MI | $4,087,536 | $16,635,219 |
Habitat For Humanity International Inc Cincinnati, OH | $19,861,311 | $21,403,808 |
Buckeye Community Hope Foundation Columbus, OH | $50,429,521 | $11,276,532 |
Caracole Inc Cincinnati, OH | $7,131,053 | $11,567,326 |
Taylor Community Development Corp Taylor, MI | $29,334,174 | $14,242,807 |
Community Action Agency Of Delaware County Inc Boothwyn, PA | $15,976,339 | $8,682,122 |
Habitat For Humanity International Inc Indianapolis, IN | $27,221,776 | $14,208,425 |