Greater Valparaiso Community Development Corporation
- Assets
- $215.5k
- Revenue
- $22.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Valparaiso, IN
- Founding
- 01/1998
- Data as of
- 12/2019
- EIN
- 35-1828253
Organization Overview
Greater Valparaiso Community Development Corporation is located in Valparaiso, IN. The organization was established in 1998. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, 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. Greater Valparaiso Community 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 12/2019, Greater Valparaiso Community Development Corporation generated $22.5k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.1% each year. All expenses for the organization totaled $12.5k during the year ending 12/2019. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO ADDRESS THE PROBLEMS OF AFFORDABLE HOUSING IN THE GREATER VALPARAISO AREA AND TO FOSTER AND PROMOTE COMMUNITY-WIDE INTEREST AND CONCERN FOR THE PROBLEMS OF AFFORDABLE HOUSING, ALL BY DEVELOPING, PROVIDING, EXPANDING, OR OTHERWISE ENCOURAGING HOUSING OPPORTUNITIES FOR RESIDENTS IN THE GREATER VALPARAISO AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN JANUARY OF 2001 TWO LOTS WERE ACQUIRED AND AFFORDABLE HOMES WERE BUILT ON THE LOTS TO SELL TO LOW INCOME INDIVIDUALS. ONE HOUSE WAS SOLD IN 2001, THE OTHER HOUSE WAS SOLD IN EARLY 2002. IN 2003 AND 2004 NO HOMES WERE BUILT OR SOLD. IN 2005 LAND WAS ACQUIRED AND 6 HOMES WERE BUILT. THREE WERE SOLD IN 2005 AND THE REMAINING THREE HOMES WERE SOLD IN 2006. THE ORGANIZATION HAS FORGIVEABLE SECOND MORTGAGES ON THE HOUSES THEY BUILT AND SOLD. THE MORTGAGES ARE FULLY OR 50%FORGIVEN IF THE BUYER OWNS AND RESIDES IN THE HOUSE FOR A SUFFICIENT NUMBER OF YEARS; THESE TERMS ARE STIPULATED BY THE INDIANA HOUSING FINANCE AUTHORITY HOME PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Schuck Administrato | 0 | $0 | |
See Attached List Board Of Dir | 0 | $0 | |
Eric Garrard Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $106 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $22,375 |
| Total Revenue | $22,481 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $12,506 |
| Taxes | $2 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $12,508 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $12,508 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $727 |
| Savings and temporary cash investments | $103,244 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $110,703 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $814 |
| Total assets | $215,488 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $96,035 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $33,788 |
| Total liabilities | $129,823 |
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