Homeownership Center Inc
- Assets
- $2.1m
- Revenue
- $463.1k
- Investments
- $0.0
- Employees
- 6
- Location
- Elkins, WV
- Founding
- 09/1998
- Data as of
- 09/2022
- EIN
- 55-0760268
Organization Overview
Homeownership Center Inc is located in Elkins, WV. The organization was established in 1998. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 09/2022, Homeownership Center Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homeownership Center 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 09/2022, Homeownership Center Inc generated $463.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $402.4k during the year ending 09/2022. While expenses have increased by 9.2% 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
PROVIDING ALL ASPECTS OF HOMEOWNERSHIP SERVICES TO AREA FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ALL ASPECTS OF HOUSING AND FINANCIAL COUNSELING TO FIRST-TIME HOMEBUYERS (APPROXIMATELY 252 FAMILIES); LOAN SERVICES; PROVIDING LOW INTEREST LOANS TO HOMEBUYERS FOR ACQUISITION, CONSTRUCTION, AND/OR REPAIRS TO HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Somers Executive Director | Officer | 40 | $33,427 |
Pj Binns Secretary | Officer | 2 | $0 |
Carrie Allender Treasurer | Officer | 2 | $0 |
Brad Schumacher Vice President | Officer | 2 | $0 |
Steve Nida President | Officer | 2 | $0 |
Brittany Hicks Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $331,581 |
| 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 | $331,581 |
| Total Program Service Revenue | $100,319 |
| Investment income | $24,909 |
| 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 | $463,061 |
| 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. | $33,427 |
| Compensation of current officers, directors, key employees. | $11,365 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $177,138 |
| Pension plan accruals and contributions | $19,682 |
| Other employee benefits | $32,004 |
| Payroll taxes | $17,006 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $56,394 |
| Advertising and promotion | $4,541 |
| Office expenses | $4,145 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $10,401 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,263 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,344 |
| Insurance | $3,930 |
| All other expenses | $4,259 |
| Total functional expenses | $402,430 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,502,785 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,656 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $441,254 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,472 |
| Net Land, buildings, and equipment | $126,939 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,098,106 |
| Accounts payable and accrued expenses | $69,669 |
| 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 | $37,652 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $107,321 |
| Net assets without donor restrictions | $1,990,785 |
| 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 | $2,098,106 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Homeownership Center Inc has recieved totaling $293,500.
| Awarding Organization | Amount |
|---|---|
Neighborhood Reinvestment Corp Washington, DC PURPOSE: GENERAL SUPPORT | $293,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charity Global Inc Hagerstown, MD | $173,056,021 | $101,611,139 |
Chimes District Of Columbia Inc Baltimore, MD | $48,959,775 | $100,243,755 |
Senior Health Properties-South Inc Bala Cynwyd, PA | $22,024,850 | $74,814,140 |
Ohio Living Holdings Westerville, OH | $9,052,370 | $48,267,325 |
Liberty Resources Inc Philadelphia, PA | $18,036,201 | $40,722,801 |
Merakey Woodhaven Lafayette Hill, PA | $6,648,494 | $26,455,348 |
Louise W Eggleston Center Inc Norfolk, VA | $29,105,931 | $28,904,867 |
Community Resources For Independence Inc Erie, PA | $35,040,174 | $18,257,057 |
Boulder Crest Foundation Bluemont, VA | $39,968,822 | $23,145,930 |
Council Of Three Rivers American Indian Center Inc Pittsburgh, PA | $2,198,563 | $19,524,702 |
Intercommunity Action Incorporated Philadelphia, PA | $14,614,293 | $19,901,552 |
Spectrum Community Services Inc Allentown, PA | $6,288,427 | $19,062,960 |