Dwelling Place Of Grand Rapids Nonprofit Housing Corporation
- Assets
- $53.3m
- Revenue
- $7.9m
- Investments
- $0.0
- Employees
- 91
- Location
- Grand Rapids, MI
- Founding
- 05/1982
- Data as of
- 12/2021
- EIN
- 38-2313832
Organization Overview
Dwelling Place Of Grand Rapids Nonprofit Housing Corporation is located in Grand Rapids, MI. The organization was established in 1982. 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. As of 12/2021, Dwelling Place Of Grand Rapids Nonprofit Housing Corporation employed 91 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dwelling Place Of Grand Rapids Nonprofit Housing 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, Dwelling Place Of Grand Rapids Nonprofit Housing Corporation generated $7.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $5.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Dwelling Place Of Grand Rapids Nonprofit Housing Corporation has awarded 33 individual grants totaling $884,459. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF DWELLING PLACE IS TO IMPROVE THE LIVES OF PEOPLE BY CREATING QUALITY AFFORDABLE HOUSING, PROVIDING ESSENTIAL SUPPORT SERVICES AND SERVING AS A CATALYST FOR NEIGHBORHOOD REVITALIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DWELLING PLACE PROVIDES AFFORDABLE RENT RESTRICTED HOUSING TO OVER1,462 LOW INCOME HOUSEHOLDS IN WEST MICHIGAN, ASSISTS HOUSEHOLDS INACCESSING SUPPORT SERVICES WHEN REQUESTED, AND OPERATES COMMUNITY AND ECONOMIC DEVELOPMENT PROGRAMS IN THE AREA. DWELLING PLACE LEASES OVER 40 COMMERCIALSPACES. DURING 2021, DWELLING PLACE CONTINUED ITS DEVELOPMENT ACTIVITYIN SEVERAL PROJECTS.DWELLING PLACE COMPLETED A PROJECT ON THE WEST SIDE OF THE CITY OF GRAND RAPIDS, GRANDVILLE AVENUE, COMPLETED ON FEBRUARY 23, 2021 CONSISTS OF 24 TAX CREDIT UNITS, THESE UNITS ARE LOCATED IN AN AREA WITH A SHORTAGE OF AFFORDABLE HOUSING. DURING 2020 DWELLING PLACE ALSO RECEIVED TAX CREDITS TO RESYNDICATE ONE OF OUR EXISTING PROJECTS FERGUSON APARTMENTS. THIS PROJECT SERVES INDIVIDUALS WHO ARE HOMELESS AND DISABLED, WITH AT LEAST 70 UNITS SERVING CRONICALLY HOMELESS INDIVIDUALS. FERGUSON APARTMENTS PREVIOUSLY CONSISTED OF 101 TAX CREDIT UNITS AND 100 SECTION 8 UNITS. THE NEW PROJECT WILL CONSIST OF 119 TAX CREDIT UNITS, 100 OF THOSE UNITS WILL REMAIN SECTION 8 THROUGH A RAD CONVERSION. THIS PROJECT IS ALSO RECEIVING HISTORIC PRESERVATION AND SOLAR TAX CREDITS. THIS PROJECT WILL BE COMPLETED DURING 2022. DURING 2022 DWELLING PLACE IS ASSESSING FEASABILITY OF RESYNDICATION OF ONE OF OUR EXITISNG DEVELOPMENTS CONSISTING OF 190 UNITS IN THE CITY OF GRAND RAPIS. TWO ADDITIONAL PROJECTS ARE BEING VETTED FOR NEW CONSTRUCTION. THE SECOND PROJECT ALSO LOCATED IN THE CITY OF GRAND RAPIDS IS 44 UNITS AND WOULD BE A COMMUNITY PARTNERSHIP WITH TENANT SERVICES ON THE MAIN FLOOR. THE THIRD PROJECT WOULD BE LOCATED IN THE CITY OF HOLLAND IS ALSO 44 UNITS. MANAGEMENT IS PLANNING ON SUBMITTING TAX CREDIT APPLICATIONS TO THE HOUSING AUTHORITY FALL 2022.
DWELLING PLACE OF GRAND RAPIDS PROVIDES SUPPORT SERVICES, INCLUDINGCASE MANAGEMENT, TO LOW INCOME AND SINGLE PARENT HOUSEHOLDS. DURING2021, DWELLING PLACE SUPPORT SERVICES WERE AVAILABLE TO 1,096 INDIVIDUALSRESIDING IN 14 OF ITS RENTAL LOCATIONS. SUPPORT SERVICES PROVIDESRESOURCES TO INDIVIDUALS ONE ON ONE AND HAVE MANY LIFE SKILL CLASSESAND COURSES THAT RESIDENTS CAN ATTEND. SOME EXAMPLES INCLUDE A STRONGBONE CLASS, NUTRITIONAL AND COOKING CLASSES, DIABETES PREVENTION ANDEMPLOYMENT SKILLS CLASSES.
DWELLING PLACE PROVIDES NEIGHBORHOOD REVITALIZATION ALONG SIDE COMMUNITY BUILDING AND ENGAGEMENT EFFORTS TO ENHANCE COMMUNITY, STREETSCAPES, PARKS AND ENCOURAGE LOCAL BUSINESS DEVELOPMENT EFFORTS. TO FURTHER OUR EFFORTS IN COMMUNITY SUPPORT, DWELLING PLACE SUPPORTS RESIDENT LEADERSHIP, LIFESKILLS, ARTS AND GARDENING INITIATIVES IN COMMUNITIES WE SERVE. IN ADDITION TO OUR ONGOING AND NEW HOUSING AND DEVELOPMENT ACTIVITIES, DWELLING PLACE IS FREQUENTLY CALLED ON TO MAKE PRESENTATIONS AND TO CONSULT WITH OTHER COMMUNITY DEVELOPMENT CORPORATIONS THAT ARE EXPLORING THE DEVELOPMENT OF VARIOUS HOUSING AND NEIGHBORHOOD REVITALIZATION PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Sturtevant Former Chief Executive Officer | Officer | 40 | $170,622 |
Kim Cross Chief Operating Officer | Officer | 40 | $160,035 |
Steven Recker Chief Financial Officer | Officer | 40 | $157,446 |
Jeremy Deroo Chief Executive Officer | Officer | 40 | $73,017 |
Annamarie Buller Board Member / Former Chairperson | OfficerTrustee | 1 | $0 |
Juan Daniel Castro Chairperson | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $66,374 |
| Government grants | $538,611 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,801,040 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,406,025 |
| Total Program Service Revenue | $4,725,007 |
| Investment income | $651,730 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $70,872 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,853,634 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $437,343 |
| 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. | $605,291 |
| Compensation of current officers, directors, key employees. | $124,923 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,818,310 |
| Pension plan accruals and contributions | $69,025 |
| Other employee benefits | $235,698 |
| Payroll taxes | $221,798 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45,783 |
| Fees for services: Accounting | $65,930 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $171,657 |
| Advertising and promotion | $0 |
| Office expenses | $125,799 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $585,763 |
| Travel | $798 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,004 |
| Interest | $9,023 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $371,347 |
| Insurance | $38,191 |
| All other expenses | $1,559 |
| Total functional expenses | $5,113,880 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,043,967 |
| Savings and temporary cash investments | $479,006 |
| Pledges and grants receivable | $102,500 |
| Accounts receivable, net | $2,711,628 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $18,332,277 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,078 |
| Net Land, buildings, and equipment | $6,108,265 |
| Investments—publicly traded securities | $10,878,312 |
| Investments—other securities | $0 |
| Investments—program-related | $8,268,484 |
| Intangible assets | $332,932 |
| Other assets | $0 |
| Total assets | $53,298,449 |
| Accounts payable and accrued expenses | $684,563 |
| Grants payable | $0 |
| Deferred revenue | $70,544 |
| 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 | $181,448 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $946,599 |
| Total liabilities | $1,883,154 |
| Net assets without donor restrictions | $50,980,171 |
| Net assets with donor restrictions | $435,124 |
| 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 | $53,298,449 |
Grants Awarded
Over the last fiscal year, Dwelling Place Of Grand Rapids Nonprofit Housing Corporation has awarded $421,916 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Grand Rapids, MI PURPOSE: START UP GRANTS | $365,400 |
44 IONIA LDHA LP PURPOSE: PASS THROUGH FUNDING FROM DWELLING PLACE FROM PPP FUNDS RECEIVED | $26,083 |
HERKIMER APARTMENTS LDHA LP PURPOSE: PASS THROUGH FUNDING FROM DWELLING PLACE FROM PPP FUNDS RECEIVED | $8,953 |
WHITEHALL LDHA LP PURPOSE: PASS THROUGH FUNDING FROM DWELLING PLACE FROM PPP FUNDS RECEIVED | $8,267 |
HPFH LDHA LP PURPOSE: PASS THROUGH FUNDING FROM DWELLING PLACE FROM PPP FUNDS RECEIVED | $6,985 |
HERKIMER COMMERCE LDHA LP PURPOSE: PASS THROUGH FUNDING FROM DWELLING PLACE FROM PPP FUNDS RECEIVED | $6,228 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Dwelling Place Of Grand Rapids Nonprofit Housing Corporation has recieved totaling $884,417.
| Awarding Organization | Amount |
|---|---|
Spectrum Health System Grand Rapids, MI PURPOSE: Racial Health Equity Investment | $320,000 |
Heartside Non-Profit Housing Corporation Grand Rapids, MI PURPOSE: TO ASSIST DWELLING PLACE OF GRAND RAPIDS IN PROVIDING LOW INCOME HOUSING. | $311,374 |
Dick And Betsy Devos Family Foundation Grand Rapids, MI PURPOSE: CAPITAL CAMPAIGN | $100,000 |
Heart Of West Michigan United Way Grand Rapids, MI PURPOSE: ALLOCATION / DONOR DESIGNATION | $77,333 |
Daniel & Pamella Devos Foundation Grand Rapids, MI PURPOSE: CAPITAL CAMPAIGN | $50,000 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: POVERTY | $11,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Housing Network Inc Columbus, OH | $58,364,637 | $14,874,820 |
Ho-Chunk Housing And Community Development Agency Tomah, WI | $18,849,800 | $12,706,218 |
Iccf Community Home Grand Rapids, MI | $56,991,774 | $12,188,676 |
Over The Rhine Community Housing Cincinnati, OH | $24,358,276 | $7,722,304 |
Hudsonville Christian School Hudsonville, MI | $18,424,541 | $13,917,128 |
Lacasa Of Goshen Inc Goshen, IN | $26,643,418 | $6,732,087 |
Dwelling Place Of Grand Rapids Nonprofit Housing Corporation Grand Rapids, MI | $53,298,449 | $7,853,634 |
Creative Housing Inc Columbus, OH | $43,851,773 | $5,323,506 |
Harbor House Ministries Jenison, MI | $5,031,278 | $3,994,152 |
Regina Manor Apartments Inc Toledo, OH | $0 | $7,363 |
Preservation Housing Partners Bloomfield Hills, MI | $17,748,211 | $4,586,755 |
3700 Green Tree Corporation Milwaukee, WI | $10,160,568 | $2,809,473 |