Flat Rock Non Profit Housing Corporation
- Assets
- $3.1m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Warren, MI
- Founding
- 06/1988
- Data as of
- 06/2022
- EIN
- 38-2806229
Organization Overview
Flat Rock Non Profit Housing Corporation is located in Warren, MI. The organization was established in 1988. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Flat Rock Non Profit 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 06/2022, Flat Rock Non Profit Housing Corporation generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $991.8k during the year ending 06/2022. While expenses have increased by 1.2% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING FACILITIES FOR LOW INCOME SENIOR CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FLAT ROCK NON-PROFIT HOUSING CORPORATION, IS A MICHIGAN NON-PROFIT HOUSING CORPORATION ORGANIZED ON A NON-STOCK BASIS BY COOPERATIVE SERVICES, INC., A MICHIGAN NON-PROFIT COOPERATIVE. THE CORPORATION WAS FORMED IN DECEMBER 1986 TO ACQUIRE AN INTEREST IN REAL PROPERTY LOCATED IN FLAT ROCK, MICHIGAN AND TO CONSTRUCT AND OPERATE THEREON AN APARTMENT PROJECT OF 96 UNITS. THE HOUSING IS PROVIDED TO LOW INCOME SENIORS IN COOPERATION WITH THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Evans Assistant Secretary | OfficerTrustee | 0.1 | $0 |
Jeri Draughon Secretary | OfficerTrustee | 0.1 | $0 |
Cindy Lamb Assistant Treasurer | OfficerTrustee | 0.1 | $0 |
Rillar Mcdaniel Vice President | OfficerTrustee | 0.1 | $0 |
Annie Mitchell President | OfficerTrustee | 0.1 | $0 |
Alex Aho Treasurer | OfficerTrustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $774,907 |
| 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 | $774,907 |
| Total Program Service Revenue | $348,609 |
| Investment income | $537 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $240 |
| 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 | $1,128,686 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $63,631 |
| Fees for services: Legal | $420 |
| Fees for services: Accounting | $18,865 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,746 |
| Office expenses | $43,393 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $280,907 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $173,871 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $170,472 |
| Insurance | $69,136 |
| All other expenses | $0 |
| Total functional expenses | $991,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,631 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $52,697 |
| 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 | $18,000 |
| Net Land, buildings, and equipment | $1,131,943 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,553,014 |
| Intangible assets | $70,946 |
| Other assets | $158,955 |
| Total assets | $3,073,186 |
| Accounts payable and accrued expenses | $54,006 |
| Grants payable | $0 |
| Deferred revenue | $11,149 |
| 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 | $4,102,198 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,843 |
| Total liabilities | $4,173,196 |
| Net assets without donor restrictions | -$1,100,010 |
| 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 | $3,073,186 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fox Run Village Inc Novi, MI | $460,113,194 | $70,545,249 |
Csi-Derby Street Nonprofit Housing Corporation Warren, MI | $670,695 | $62,509,360 |
Blanchard Valley Continuing Care Services Findlay, OH | $61,929,671 | $35,904,527 |
American Senior Communities Group Health Plan Indianapolis, IN | $8,703,398 | $37,045,158 |
Twin Lakes Cincinnati, OH | $221,116,873 | $30,548,357 |
St Leonard Centerville, OH | $96,777,617 | $31,237,067 |
Colonial Senior Services Inc Hamilton, OH | $79,845,037 | $27,642,805 |
Clark Retirement Community Inc Grand Rapids, MI | $96,381,064 | $20,508,927 |
First Community Village Columbus, OH | $122,549,081 | $19,045,598 |
Resthaven Holland, MI | $35,879,779 | $29,087,420 |
Willow Brook Christian Services Delaware, OH | $3,018,622 | $23,582,237 |
Covenant Retirement Communities Of The Great Lakes Conference Grand Rapids, MI | $46,465,743 | $18,284,551 |