Mid-Iowa Housing Corporation
- Assets
- $509.7k
- Revenue
- $319.4k
- Investments
- $0.0
- Employees
- 0
- Location
- West Des Moines, IA
- Founding
- 11/1994
- Data as of
- 09/2022
- EIN
- 42-1415545
Organization Overview
Mid-Iowa Housing Corporation is located in West Des Moines, IA. The organization was established in 1994. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, 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. Mid-Iowa Housing Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 09/2022, Mid-Iowa Housing Corporation generated $319.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $332.4k during the year ending 09/2022. While expenses have increased by 4.3% 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 SERVICES TO AREA RESIDENTS IN ORDER TO ENHANCE THE WELL-BEING OF INDIVIDUALS, FAMILIES, AND COMMUNITIES IN TAMA COUNTY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED RENTAL HOUSING AND RELATED FACILITIES TO ELIGIBLE OCCUPANTS (ELDERLY, HANDICAPPED, OR DISABLED AND LOW INCOME) AS DETERMINED BY THE U.S. DEPARTMENT OF AGRICULTURE'S RURAL DEVELOPMENT REGULATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tammy Wise President | OfficerTrustee | 0 | $0 |
Byron Witt Vice President | OfficerTrustee | 0 | $0 |
Heidi Purk Secretary | OfficerTrustee | 0 | $0 |
Tiffany Richard Director | Trustee | 0 | $0 |
Joanne Husak Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $215,388 |
| 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 | $215,388 |
| Total Program Service Revenue | $103,858 |
| Investment income | $194 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $319,440 |
| 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 | $31,968 |
| Fees for services: Legal | $86 |
| Fees for services: Accounting | $9,261 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $54,957 |
| Advertising and promotion | $5,363 |
| Office expenses | $2,032 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $69,557 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $45,873 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $68,671 |
| Insurance | $27,654 |
| All other expenses | $3,066 |
| Total functional expenses | $332,371 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,343 |
| Savings and temporary cash investments | $253,465 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $8,712 |
| Net Land, buildings, and equipment | $221,152 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $509,672 |
| Accounts payable and accrued expenses | $7,863 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $12,084 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $699,263 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $719,210 |
| Net assets without donor restrictions | -$209,538 |
| 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 | $509,672 |
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820 W Belle Plaine Cooperative Chicago, IL | $8,052,333 | $2,389,201 |
Building Owners And Managers Association Of Chicago Chicago, IL | $1,459,387 | $2,903,504 |
Minnesota Multi Housing Assn Bloomington, MN | $1,831,730 | $2,659,160 |
Lake Holiday Property Owners Association Inc Somonauk, IL | $7,075,550 | $2,253,751 |
Carr Square Tenant Corporation Saint Louis, MO | $3,519,634 | $1,262,069 |
Platte Lake Property Owners Association Hillman, MN | $0 | $1,817,640 |
Eastern Iowa Regional Housing Corporation Dubuque, IA | $5,116,993 | $1,481,771 |
Home Builders Assn Of Des Moines Johnston, IA | $702,713 | $1,312,598 |