Homecor
- Assets
- $975.0k
- Revenue
- $63.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Holland, MI
- Founding
- 06/1996
- Data as of
- 12/2021
- EIN
- 38-3281993
Organization Overview
Homecor is located in Holland, MI. The organization was established in 1996. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homecor 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, Homecor generated $63.5k 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 (17.8%) each year. All expenses for the organization totaled $47.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.0%) per year over the past 7 years. 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
ENHANCE HOLLAND, MICHIGAN'S CENTRAL CITY NEIGHBORHOODS BY RENOVATING HOMES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE GRANTS TO HOMEOWNERS TO ASSIST THEM IN REPAIRING THEIR HOMES
PURCHASE, RENOVATE, AND SELL DISTRESSED HOMES TO OWNER OCCUPANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Boersma President | Officer | 0.5 | $0 |
Donna Brooks Vice President | Officer | 0.25 | $0 |
Deborah Sterken Secretary | Officer | 0.25 | $0 |
Thomas Smith Treasurer | Officer | 0.5 | $0 |
Ernesto Villareal Director | Trustee | 0.25 | $0 |
Jake Norris Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $115,490 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $115,490 |
| Total Program Service Revenue | $0 |
| Investment income | $99 |
| 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 | -$52,115 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $63,474 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $41,063 |
| 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 | $6,129 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $46 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $468 |
| All other expenses | $0 |
| Total functional expenses | $47,706 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $492,782 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $482,233 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $975,015 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $425,000 |
| Other liabilities | $0 |
| Total liabilities | $425,000 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $550,015 |
| 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 | $975,015 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Homecor has recieved totaling $48,200.
| Awarding Organization | Amount |
|---|---|
Edgar And Elsa Prince Foundation Holland, MI PURPOSE: OPERATING SUPPORT | $25,000 |
John And Judy Spoelhof Foundation Holland, MI PURPOSE: GENERAL OPERATIONS | $10,000 |
Communtiy Foundation Of The Holland Zeeland Area Holland, MI PURPOSE: MEMORIAL FUND | $9,700 |
Stephen And Valerie Spoelhof Foundation Holland, MI PURPOSE: GENERAL OPERATION | $2,500 |
Jim And Ginger Jurries Foundation Holland, MI PURPOSE: OPERATIONS | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Ventures In Living Ltd Lafayette, IN | $4,082,681 | $10,075,457 |
Community Action Of Greater Indianapolis Inc Indianapolis, IN | $3,236,158 | $6,334,161 |
Ontonagon County Rural Electrification Association Ontnagon, MI | $28,081,428 | $6,999,493 |
Metro Community Development Inc Flint, MI | $15,522,758 | $4,633,690 |
North End Community Improvement Collaborative Inc Mansfield, OH | $1,802,249 | $2,589,365 |
Bgc Nonprofit Housing Corporation Okemos, MI | $9,545,653 | $1,858,824 |
Community Care In Union County Inc Liberty, IN | $207,177 | $1,400,379 |
Eagle Creek Park Foundation Inc Indianapolis, IN | $2,655,847 | $319,636 |
Community Bankers Association Of Ohio Columbus, OH | $1,687,441 | $1,357,120 |
Delray United Action Council Detroit, MI | $103,236 | $1,099,438 |
Ohio Rural Water Association Zanesville, OH | $1,707,068 | $1,386,606 |
Southeast Neighborhood Development Inc Indianapolis, IN | $5,233,256 | $1,016,697 |