Essential Living Inc

Organization Overview

Essential Living Inc is located in Minot, ND. The organization was established in 2016. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Essential Living 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 12/2022, Essential Living Inc generated $379.8k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 41.9% each year . All expenses for the organization totaled $573.5k during the year ending 12/2022. While expenses have increased by 27.8% per year over the past 6 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE AFFORDABLE HOUSING.

Describe the Organization's Program Activity:

Part 3 - Line 4a

ESSENTIAL LIVING, INC. WILL PROVIDE LOW-INCOME HOUSING TO THE CITIZENS OF NORTH DAKOTA WHO ARE FIFTY-FIVE (55) YEARS AND OLDER, ESSENTIAL SERVICE WORKERS, AND/OR OTHERS WHO MAY QUALIFY FOR AFFORDABLE HOUSING PURSUANT TO THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) AND THE NORTH DAKOTA HOUSING FINANCE AGENCY. THE REMODEL WAS COMPLETED IN 2018. THERE ARE 41 UNITS AND 40 WERE OCCUPIED AT THE END OF 2022.ADDITIONALLY, THE CONSTRUCTION OF TOWNHOMES WAS COMPLETED AND UNITS WERE AVAILABLE TO TENANTS IN SEPTEMBER 2022. THERE ARE 22 UNITS AND ALL 22 UNITS WERE OCCUPIED AT THE END OF 2022.


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Board, Officers & Key Employees

Name (title)Compensation
Steve Gehrtz
Vice-President
$0
Bruce Walker
President
$0
Todd Berning
Treasurer
$0
Vicki Campbell
Secretary
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Component Manufacturing Company
Prefab Wall Panels And Trusses
$190,493
Keller Paving & Landscaping Inc
Paving New Construction
$225,217
Minnesota Drywall & Framing
Drywall And Framing
$394,225
Connole & Somerville
Plumbing New Construction
$294,245
Gehrtz Construction
Construction Management
$486,196
View All Vendors

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$309,980
Investment income $149
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 $379,823

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