Echols Place Ii Corporation
- Assets
- $906.1k
- Revenue
- $83.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Farmington, NM
- Founding
- 03/2007
- Data as of
- 06/2021
- EIN
- 36-4587863
Organization Overview
Echols Place Ii Corporation is located in Farmington, NM. The organization was established in 2007. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Echols Place Ii 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 06/2021, Echols Place Ii Corporation generated $83.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $98.2k during the year ending 06/2021. While expenses have increased by 1.0% per year over the past 6 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
AFFORDABLE HOUSING PROVIDED FOR DISABLED PERSONS THAT MEET THEIR SPECIFIC NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED 14 UNIT APARTMENT COMPLEX FOR LOW-INCOME DISABLED PERSONS SPECIALLY DESIGNED TO MEET THEIR NEEDS.
PROVIDED 14 UNIT APARTMENT COMPLEX FOR LOW-INCOME DISABLED PERSONS SPECIALLY DESIGNED TO MEET THEIR NEEDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Watkins Secretary/tr | Officer | $0 | |
Scot Fishburn Vice Preside | Officer | $0 | |
Sandy Chancey President | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $32,156 |
| 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 | $32,156 |
| Total Program Service Revenue | $51,141 |
| Investment income | $18 |
| 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 | $83,739 |
| 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 | $10,344 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,487 |
| Payroll taxes | $1,350 |
| Fees for services: Management | $10,366 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,776 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,235 |
| Office expenses | $1,921 |
| Information technology | $1,698 |
| Royalties | $0 |
| Occupancy | $16,323 |
| Travel | $6 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $569 |
| Interest | $1,429 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,541 |
| Insurance | $0 |
| All other expenses | $117 |
| Total functional expenses | $98,212 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,782 |
| Savings and temporary cash investments | $32,792 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,377 |
| 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 | $0 |
| Net Land, buildings, and equipment | $855,802 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,365 |
| Total assets | $906,118 |
| Accounts payable and accrued expenses | $3,826 |
| Grants payable | $0 |
| Deferred revenue | $373 |
| 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 | $1,262,900 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,833 |
| Total liabilities | $1,272,932 |
| Net assets without donor restrictions | -$366,814 |
| 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 | $906,118 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Merced Housing Texas San Antonio, TX | $50,611,683 | $9,858,961 |
Community Housing Concepts Inc Denver, CO | $87,603,673 | $7,035,643 |
Trinity Affordable Housing Corporation Austin, TX | $27,521,509 | $8,167,693 |
Community Resources & Housing Development Corporation Westminster, CO | $39,546,722 | $6,041,584 |
Elevation Community Land Trust Denver, CO | $49,445,560 | $8,122,320 |
Assisting Texas With Housing Inc Austin, TX | $21,990,420 | $4,581,783 |
Dallas Neighborhood Alliance For Habitat Dallas, TX | $1,401,689 | $4,975,573 |
Residences At Eaton Senior Communities Lakewood, CO | $12,361,716 | $4,288,663 |
Arizona Housing Inc Phoenix, AZ | $15,313,221 | $3,724,119 |
Thistle Community Housing Boulder, CO | $53,794,788 | $7,131,075 |
Tierra Del Sol Housing Corporation Las Cruces, NM | $16,041,382 | $6,574,879 |
Kivel Manor Inc Phoenix, AZ | $8,418,110 | $3,130,983 |