Community Housing Initiatives Inc
- Assets
- $50.5m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 44
- Location
- Spencer, IA
- Founding
- 08/1994
- Data as of
- 12/2021
- EIN
- 42-1416426
Organization Overview
Community Housing Initiatives Inc is located in Spencer, IA. The organization was established in 1994. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Community Housing Initiatives Inc employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Housing Initiatives 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 12/2021, Community Housing Initiatives Inc generated $5.2m 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 (6.9%) each year. All expenses for the organization totaled $5.9m during the year ending 12/2021. 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
PROVIDE DECENT, SAFE & AFFORDABLE HOUSING FOR LOW & MODERATE INCOME INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING:DEVELOP AND OPERATE AFFORDABLE RENTAL HOUSING FOR LOW AND MODERATE INCOME HOUSEHOLDS, APPROXIMATELY 3,300 PERSONS BENEFITED; SERVING SENIORS, FAMILIES AND PERSONS WITH DISABILITIES.COMMUNITY BUILDING:SUPPORTS TARGETED NEIGHBORHOODS WITH BUILDING SOCIAL COHESION, LOCAL RESIDENT LEADERSHIP DEVELOPMENT, AND PHYSICAL BEAUTIFICATION OF NEIGHBORHOOD STRUCTURES INCLUDING HOUSING AND PUBLIC SPACES BY COLLABORATING WITH RESIDENTS AND OTHER KEY LOCAL STAKEHOLDERS.RESIDENT SERVICES:PROVIDE AN ARRAY OF SERVICES TO RESIDENTS OF RENTAL PROPERTIES, INCLUDING BUT NOT LIMITED TO SERVICE COORDINATION, YOUTH PROGRAMS, FINANCIAL MANAGEMENT, HEALTH AND WELLNESS PROGRAMS, SOCIAL EVENTS, AND LEADERSHIP DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Labounty President | Officer | 40 | $185,782 |
Samantha Erickson Chief Operating Officer | Officer | 40 | $156,390 |
Mark Vreeman Chief Financial Officer | Officer | 40 | $128,770 |
Lee Schoenewe Board Chair | OfficerTrustee | 1 | $0 |
Curt Heidt Board Vice Chair | OfficerTrustee | 1 | $0 |
John Zulk Board Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rsm Us Llp Accounting Services | 12/30/20 | $103,321 |
Architects Schipper Kastner Architectural Services | 12/30/20 | $173,600 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $950,307 |
| All other contributions, gifts, grants, and similar amounts not included above | $70,869 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,021,176 |
| Total Program Service Revenue | $3,933,960 |
| Investment income | $7,777 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $174,960 |
| Net Gain/Loss on Asset Sales | $14,800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,152,673 |
| 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. | $535,790 |
| Compensation of current officers, directors, key employees. | $309,513 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,778,118 |
| Pension plan accruals and contributions | $137,244 |
| Other employee benefits | $243,957 |
| Payroll taxes | $166,957 |
| Fees for services: Management | $163,582 |
| Fees for services: Legal | $10,801 |
| Fees for services: Accounting | $48,068 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $66,362 |
| Advertising and promotion | $10,878 |
| Office expenses | $110,831 |
| Information technology | $145,250 |
| Royalties | $0 |
| Occupancy | $1,118,009 |
| Travel | $95,910 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $212,176 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $884,139 |
| Insurance | $10,692 |
| All other expenses | $103,649 |
| Total functional expenses | $5,860,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,761 |
| Savings and temporary cash investments | $4,232,354 |
| Pledges and grants receivable | $6,919 |
| Accounts receivable, net | $1,937,297 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,797,767 |
| Inventories for sale or use | $1,592 |
| Prepaid expenses and deferred charges | $28,154 |
| Net Land, buildings, and equipment | $17,471,942 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $17,162,527 |
| Intangible assets | $0 |
| Other assets | $1,838,570 |
| Total assets | $50,484,883 |
| Accounts payable and accrued expenses | $744,277 |
| Grants payable | $0 |
| Deferred revenue | $22,161 |
| 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 | $6,016,209 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $370,671 |
| Total liabilities | $7,153,318 |
| Net assets without donor restrictions | $43,191,565 |
| Net assets with donor restrictions | $140,000 |
| 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 | $50,484,883 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Community Housing Initiatives Inc has recieved totaling $46,773.
| Awarding Organization | Amount |
|---|---|
Cedar Valley United Way Waterloo, IA PURPOSE: GRANT FOR SPECIFIC PROGRAM SUPPORT. | $36,773 |
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: GRANT DISTRIBUTION FOR 2 TECHNOLOGY GRANTS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sholom Home East Inc St Paul, MN | $55,805,227 | $20,264,604 |
Homestead At Rochester Inc Eden Prairie, MN | $84,661,096 | $19,652,604 |
Habitat For Humanity International Inc Omaha, NE | $36,900,454 | $19,457,975 |
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Affordable Housing Development Fund Inc Rockford, IL | $87,465,066 | $18,557,415 |
Chicago Low Income Housing Trust Fund Chicago, IL | $68,435,328 | $24,410,244 |
Interfaith Housing Development Corporation Of Chicago Chicago, IL | $13,790,371 | $15,355,980 |
Jeremiah Program Minneapolis, MN | $39,745,824 | $13,376,447 |
European American Association Chicago, IL | $18,209,689 | $14,984,488 |
Milwaukee Habitat For Humanity Milwaukee, WI | $24,987,795 | $20,382,762 |
Hispanic Housing Development Corp Chicago, IL | $88,735,655 | $15,154,061 |
Habitat For Humanity International Inc Des Moines, IA | $24,118,438 | $12,529,342 |