Quality Life Inc
- Assets
- $363.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Maquoketa, IA
- Founding
- 11/1995
- Data as of
- 06/2022
- EIN
- 42-1366805
Organization Overview
Quality Life Inc is located in Maquoketa, IA. The organization was established in 1995. According to its NTEE Classification (P73) the organization is classified as: Group Homes, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Quality Life 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 06/2022, Quality Life Inc generated $64.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $82.4k during the year ending 06/2022. While expenses have increased by 2.5% 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
QUALITY LIFE INC. IS A 16-UNIT APARTMENT PROJECT LOCATED IN STORM LAKE, IOWA. THE PROJECT WAS PARTIALLY BUILT WITH FUNDS PROVIDED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AND IS MANAGED BY IMAGINE THE POSSIBILITIES, A NON-PROFIT HUMAN SERVICES AGENCY OPERATING IN IOWA. SUBSTANTIALLY ALL OF THE ORGANIZATION'S INCOME IS DERIVED FROM THE RENTAL OF ITS APARTMENT UNITS. THE ORGANIZATION HAS ENTERED INTO HOUSING ASSISTANCE PAYMENT CONTRACTS WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) ON BEHALF OF QUALIFIED TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jess Smith Vice Chair | 1 | $0 | |
John Franzen Secretary | 1 | $0 | |
Beth Schutterle Chairperson | 1 | $0 | |
Bernadine Paul Treasurer | 1 | $0 | |
Scot Wilkins Director | 1 | $0 | |
Michael Ruden Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $64,122 |
| Membership dues | $0 |
| Investment income | $9 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $64,131 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $2,496 |
| Professional fees and other payments to independent contractors | $11,618 |
| Occupancy, rent, utilities, and maintenance | $17,456 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $50,857 |
| Total expenses | $82,427 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $23,230 |
| Other assets | $0 |
| Total assets | $363,688 |
| Total liabilities | $622,335 |
| Net assets or fund balances | -$258,647 |
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