Elderhomes Corp
- Assets
- $14.7m
- Revenue
- $21.9m
- Investments
- $0.0
- Employees
- 53
- Location
- Richmond, VA
- Founding
- 05/1992
- Data as of
- 06/2022
- EIN
- 54-1595851
Organization Overview
Elderhomes Corp, operating under the name Project Homes, is located in Richmond, VA. The organization was established in 1992. According to its NTEE Classification (L81) the organization is classified as: Home Improvement & Repairs, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Project Homes employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project Homes 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 06/2022, Project Homes generated $21.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $18.8m during the year ending 06/2022. While expenses have increased by 12.6% 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
OUR MISSION IS TO IMPROVE THE HOUSING AND LIVING CONDITIONS OF ELDERLY, DISABLED, AND LOW-INCOME PERSONS IN RICHMOND AND SURROUNDING LOCALITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WEATHERIZATION PROGRAM: PROVIDE ENERGY CONSERVATION WEATHERIZATION SERVICES AND EMERGENCY HOME REPAIR TO ELDERLY & LOW INCOME INDIVIDUALS.
AFFORDABLE HOUSING PROGRAM: HOUSING REHABILITATION AND NEIGHBORHOOD REVITALIZATION AND EMERGENCY HOME REPAIR AS WELL AS CONSTRUCTION OF NEW ENERGY-EFFICIENT HOMES.
HOME REHABILITATION PROGRAM: COMPREHENSIVE HOME REHABILITATION-PROVIDES HOME REPAIRS TO LOW INCOME INDIVIDUALS.
VOLUNTEER SERVICES: RENEW CREW VOLUNTEERS, COMPLETED HOME REPAIRS, AND ACCESSIBILITY MODIFICATIONS FOR SENIOR AND DISABLED HOMEOWNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lee Householder Executive Director | Officer | 40 | $211,707 |
Shelia Walters Finance Officer | Officer | 40 | $136,528 |
John Tull Vice Chair | OfficerTrustee | 1 | $0 |
John Thaniel Chairman | OfficerTrustee | 1 | $0 |
Billy Trigg Secretary/treasurer | OfficerTrustee | 1 | $0 |
Anne Garrett Member @ Large | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
H Clark Construction Home Repairs To Include Siding, Roofing, | 6/29/22 | $476,156 |
Victor Morrison Home Repairs To Include Siding, Roofing, | 6/29/22 | $414,303 |
Quality Bldg Products Weatherization And Energy Efficiency Imp | 6/29/22 | $711,914 |
Quick Ac Quote Heating And Air Equipment And Installati | 6/29/22 | $369,437 |
Cascante Contracting Home Repairs To Include Siding, Roofing, | 6/29/22 | $488,504 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,401,423 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,316,440 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,717,863 |
| Total Program Service Revenue | $5,044,081 |
| Investment income | $19,099 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $59,401 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,894,456 |
| 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. | $388,396 |
| Compensation of current officers, directors, key employees. | $19,420 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,672,483 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $665,317 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $30,872 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $173,966 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $44,491 |
| Insurance | $153,084 |
| All other expenses | $335,237 |
| Total functional expenses | $18,770,592 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,690,797 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,294,581 |
| Accounts receivable, net | $25,894 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,980,698 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $651,543 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,017,286 |
| Total assets | $14,660,799 |
| Accounts payable and accrued expenses | $388,959 |
| Grants payable | $15,144 |
| Deferred revenue | $37,440 |
| 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 | $16,216 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $176,168 |
| Total liabilities | $633,927 |
| Net assets without donor restrictions | $11,202,220 |
| Net assets with donor restrictions | $2,824,652 |
| 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 | $14,660,799 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Elderhomes Corp has recieved totaling $389,936.
| Awarding Organization | Amount |
|---|---|
The Pauley Family Foundation Richmond, VA PURPOSE: ANNUAL SUPPORT | $100,000 |
The Community Foundation Inc Richmond, VA PURPOSE: GENERAL PURPOSES | $86,000 |
Bon Secours Richmond Health System Richmond, VA PURPOSE: MISSION SUPPORT | $56,160 |
United Way Of Greater Richmond Richmond, VA PURPOSE: DONOR DIRECTS FUNDS(DESIGNATIONS) FOR ENERGY SHARE | $50,686 |
John Randolph Foundation Support Fund Inc Hopewell, VA PURPOSE: CHARITABLE SUPPORT | $40,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $27,090 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Elderhomes Corp Richmond, VA | $14,660,799 | $21,894,456 |
Rebuilding Together Inc Washington, DC | $7,727,299 | $12,350,549 |
Mountain Housing Opportunities Inc Asheville, NC | $35,342,140 | $6,111,464 |
Rebuilding Together Of The Triangle Morrisville, NC | $784,092 | $2,781,755 |
Rebuilding Together Dc Alexandria Washington, DC | $1,513,391 | $2,291,650 |
Community Housing Solutions Of Guilford Inc Greensboro, NC | $1,617,584 | $1,424,464 |
Southside Outreach Group Inc South Boston, VA | $3,092,581 | $1,458,646 |
Rebuilding Together Of Greater Charlotte Inc Charlotte, NC | $993,357 | $1,359,244 |
Carolina Cross Connection Inc Gastonia, NC | $16,829 | $797,254 |
Black Women Build - Baltimore Baltimore, MD | $1,287,969 | $914,692 |
Rebuilding Together Of Richmond Richmond, VA | $314,205 | $833,981 |
Mountain Outreach Program Inc Williamsburg, KY | $1,168,702 | $1,057,977 |