New River House Inc
- Assets
- $707.9k
- Revenue
- $525.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Blacksburg, VA
- Founding
- 08/1982
- Data as of
- 09/2021
- EIN
- 52-1257779
Organization Overview
New River House Inc is located in Blacksburg, VA. The organization was established in 1982. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. New River House 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 09/2021, New River House Inc generated $525.1k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $639.7k during the year ending 09/2021. While expenses have increased by 3.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING FOR ELDERLY AND HANDICAPPED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION PROVIDES AFFORDABLE HOUSING FOR ELDERLY AND HANDICAPPED INDIVIDUALS QUALIFYING FOR RENTAL ASSISTANCE UNDER SECTION 8 OF THE NATIONAL HOUSING ACT. THE FACILITY HAS 42 UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Spencer Chair | OfficerTrustee | 0.5 | $0 |
William Price Vice Chairman | OfficerTrustee | 0.5 | $0 |
Hing-Har Lo Secretary | OfficerTrustee | 0.5 | $0 |
Jason Pospichal Vice Chairman/treasurer | OfficerTrustee | 0.5 | $0 |
Ferne Moschella Former President / CEO | Officer | 0.5 | $0 |
Brad Dalton Current President / CEO | Officer | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,818 |
| 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 | $3,818 |
| Total Program Service Revenue | $517,328 |
| Investment income | $9 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,775 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $525,067 |
| 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 | $0 |
| Fees for services: Legal | $730 |
| Fees for services: Accounting | $3,836 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $52,069 |
| Advertising and promotion | $1,641 |
| Office expenses | $27,886 |
| Information technology | $17,993 |
| Royalties | $0 |
| Occupancy | $31,249 |
| Travel | $2,003 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $35,104 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $115,950 |
| Insurance | $10,920 |
| All other expenses | $2,451 |
| Total functional expenses | $639,717 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,754 |
| Savings and temporary cash investments | $39,093 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $495 |
| 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 | $0 |
| Net Land, buildings, and equipment | $654,523 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $707,865 |
| Accounts payable and accrued expenses | $42,155 |
| Grants payable | $0 |
| Deferred revenue | $1,146 |
| 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 | $1,014,959 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $374,428 |
| Total liabilities | $1,432,688 |
| Net assets without donor restrictions | -$724,823 |
| 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 | $707,865 |
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|---|---|---|
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Chapel Hill Residential Retirement Center Inc Chapel Hill, NC | $120,640,930 | $31,949,437 |
Stoddard Baptist Global Care Washington, DC | $21,239,255 | $34,652,539 |
Carolina Village Inc Hendersonville, NC | $124,169,436 | $34,185,742 |
Galloway Ridge Inc Pittsboro, NC | $130,866,786 | $36,150,184 |
Kenton Housing Inc Latonia, KY | $68,380,829 | $31,745,821 |
Village At Orchard Ridge Inc Frederick, MD | $155,766,299 | $22,895,299 |
Virginia Lutheran Homes Inc Roanoke, VA | $83,707,371 | $28,580,430 |
The Lutheran Village At Millers Grant Inc Westminster, MD | $146,336,066 | $23,586,793 |
Mercy Ridge Inc Timonium, MD | $148,105,442 | $23,349,399 |
Maryland Masonic Homes Ltd Cockeysville, MD | $7,522,127 | $24,357,243 |