Neighborhood Apartments Inc
- Assets
- $2.0m
- Revenue
- $483.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Kalamazoo, MI
- Founding
- 10/1979
- Data as of
- 12/2021
- EIN
- 38-1950009
Organization Overview
Neighborhood Apartments Inc is located in Kalamazoo, MI. The organization was established in 1979. 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. Neighborhood Apartments 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 12/2021, Neighborhood Apartments Inc generated $483.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $456.3k during the year ending 12/2021. While expenses have increased by 1.5% 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 PROVIDE HOUSING FOR PERSONS OF A LOW OR MODERATE INCOME; AND TO PROVIDE ANY SOCIAL RECREATIONAL, COMMERCIAL, AND COMMUNAL FACILITIES NECESSARY TO SERVE AND IMPROVE A RESIDENTIAL AREA IN WHICH THE FEDERALLY-AIDED HOUSING IS LOCATED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING HOUSING TO PERSONS OF A LOW AND MODERATE INCOME.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David F Anderson Vice Preside | OfficerTrustee | 0.05 | $0 |
Daniel Mcglinn Secretary | OfficerTrustee | 0.05 | $0 |
Dee Velkoff Treasurer | OfficerTrustee | 0.1 | $0 |
Carole Mcnees President | OfficerTrustee | 0.1 | $0 |
Artrella Cohn Director | Trustee | 0.1 | $0 |
Stacey Randolph-Ledbetter Director | Trustee | 0.05 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $357,274 |
| 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 | $357,274 |
| Total Program Service Revenue | $126,707 |
| Investment income | $114 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$258 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $483,837 |
| 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 | $61,863 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,416 |
| Payroll taxes | $4,701 |
| Fees for services: Management | $24,144 |
| Fees for services: Legal | $6,832 |
| Fees for services: Accounting | $7,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,242 |
| Information technology | $1,740 |
| Royalties | $0 |
| Occupancy | $209,882 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,719 |
| Insurance | $2,961 |
| All other expenses | $2,455 |
| Total functional expenses | $456,302 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $85,727 |
| Savings and temporary cash investments | $232,686 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,396 |
| 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 | $10,267 |
| Net Land, buildings, and equipment | $1,671,618 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,001,694 |
| Accounts payable and accrued expenses | $70,515 |
| Grants payable | $0 |
| Deferred revenue | $8,213 |
| 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 | $1,512,618 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,509 |
| Total liabilities | $1,599,855 |
| Net assets without donor restrictions | $0 |
| 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 | $401,839 |
| Total liabilities and net assets/fund balances | $2,001,694 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gene B Glick Family Housing Foundation Inc Indianapolis, IN | $374,839,062 | $69,361,551 |
Alliance For Housing Oakland County Continuum Of Care Pontiac, MI | $25,935,962 | $39,151,253 |
Integrated Community Services Inc Green Bay, WI | $950,571 | $23,339,700 |
Cinnaire Corporation Cinnaire Lansing, MI | $74,619,323 | $21,850,720 |
Bethany Housing Ministries Inc Muskegon, MI | $4,087,536 | $16,635,219 |
Milwaukee Habitat For Humanity Milwaukee, WI | $24,987,795 | $20,382,762 |
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 |
Habitat For Humanity International Inc Indianapolis, IN | $27,221,776 | $14,208,425 |
Western Reserve Revitalization & Management Co Cleveland, OH | $81,496,475 | $17,708,509 |