Community Restoration Corporation
- Assets
- $696.5k
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Irving, TX
- Founding
- 02/2013
- Data as of
- 12/2021
- EIN
- 45-3774445
Organization Overview
Community Restoration Corporation is located in Irving, TX. The organization was established in 2013. According to its NTEE Classification (L80) the organization is classified as: Housing Support, 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. Community Restoration 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 12/2021, Community Restoration Corporation generated $9.2m 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 (6.2%) each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (17.3%) 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
WORKING IN STRATEGIC PARTNERSHIP WITH A TEAM OF LOCAL ORGANIZATIONS, CRC ACQUIRED DISTRESSED MORTGAGES/NOTES AND REAL ESTATE OWNED (REO) PROPERTIES FROM LENDERS AND CREATES COMMUNITY-FOCUSED DISPOSITION STRATEGIES FOR THE ASSETS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CRC WORKS WITH BORROWERS TO SUCCESSFULLY EXECUTE VARIOUS LOAN MODIFICATIONS, SETTLEMENTS, REPAYMENT PLANS, AND DEED-IN-LIEUS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin Persons Treasuer | OfficerTrustee | 1 | $0 |
Carlos Alcazar President | OfficerTrustee | 1 | $0 |
Jennifer Hennemuth Secretary | OfficerTrustee | 1 | $0 |
Eric Chatman Director | Trustee | 1 | $0 |
Kate Monter Durban Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Security National Master Holding Company Loan Servicing | 12/30/19 | $206,252 |
Ncst Mortgage Resolutions Llc Program Management | 12/30/19 | $125,625 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $984,018 |
| Investment income | $8,039 |
| 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 | $9,217,251 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $783,393 |
| 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 | $10,625 |
| Fees for services: Legal | $26,198 |
| Fees for services: Accounting | $100,774 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $135,313 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $2,548 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,472 |
| All other expenses | $4,234 |
| Total functional expenses | $1,584,397 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,916 |
| Savings and temporary cash investments | $543,088 |
| 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 | $4,574 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $67,929 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $696,507 |
| Accounts payable and accrued expenses | $15,711 |
| 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 | $7,072,083 |
| Other liabilities | $0 |
| Total liabilities | $7,087,794 |
| Net assets without donor restrictions | -$6,391,287 |
| 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 | $696,507 |
Grants Awarded
Over the last fiscal year, Community Restoration Corporation has awarded $783,393 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: EXCESS PROGRAM FUNDS PERTAINING TO THE NEW YORK LOAN POOLS. | $750,000 |
Boston, MA PURPOSE: GOOD FAITH GRANT FOR EFFORTS IN ESTABLISHING CRC AND HELPING TO ACHIEVE ITS OBJECTIVES. | $33,393 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Commonwealth Multifamly Housing Corporation Temple, TX | $162,876,921 | $14,871,130 |
Christian Community Action Lewisville, TX | $16,536,025 | $11,902,772 |
Central Oklahoma Habitat For Humanity Inc Oklahoma City, OK | $15,945,462 | $9,628,435 |
Rebuilding Together Houston Houston, TX | $2,380,403 | $3,485,226 |
San Antonio Housing Trust Foundation Inc San Antonio, TX | $7,282,965 | $2,625,653 |
Community Enhancement Corporation Oklahoma City, OK | $19,292,408 | $1,589,887 |
New Braunfels Community Resources Inc New Braunfels, TX | $2,281,417 | $2,005,183 |
Community Restoration Corporation Irving, TX | $696,507 | $9,217,251 |
Texas Campaign For The Environment Fund Austin, TX | $1,503,965 | $2,333,632 |
Habitat For Humanity International Inc New Braunfels, TX | $2,364,963 | $1,297,778 |
Lutheran Properties Inc Austin, TX | $10,751,890 | $1,244,486 |
City Of Lubbock Housing Initiatives Lubbock, TX | $2,597,981 | $392,861 |