Elon Homes For Children
- Assets
- $1.9m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 53
- Location
- Charlotte, NC
- Founding
- 05/1943
- Data as of
- 06/2021
- EIN
- 56-0543225
Organization Overview
Elon Homes For Children is located in Charlotte, NC. The organization was established in 1943. According to its NTEE Classification (P70) the organization is classified as: Residential Care & Adult Day Programs, under the broad grouping of Human Services and related organizations. As of 06/2021, Elon Homes For Children employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elon Homes For Children 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 06/2021, Elon Homes For Children generated $1.3m 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 (5.1%) each year. All expenses for the organization totaled $1.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.8%) 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
THE ORGANIZATION'S MISSION IS TO PROVIDE SAFE HAVEN, LIFE SKILLS AND EDUCATION TO CHILDREN IN OUR CARE. ELON HOMES FULFILLS ITS MISSION THROUGH ITS COMMUNITY-BASED FOSTER CARE PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMMUNITY-BASED FOSTER CARE PROGRAM PROVIDES REFUGE, WITHIN A LICENSED FAMILY SETTING, FOR CHILDREN WHO NEED A SAFE PLACE TO LIVE WHEN THEIR PARENTS CANNOT ADEQUATELY CARE FOR THEM. WE SERVE CHILDREN, AGES 0-20, IN ROUGHLY A DOZEN NORTH CAROLINA COUNTIES FROM MECKLENBURG TO DURHAM, ACCEPTING REFERRALS FROM ANY NC DEPT OF SOCIAL SERVICES. WE PROVIDED FOR SERVICES FOR APPROXIMATELY 75 CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Dr Frederick G Grosse President | Officer | 40 | $179,954 |
Jane Grosse Vice President | Officer | 20 | $123,333 |
Brad Gilliam Chairman | OfficerTrustee | 0.5 | $0 |
Jackie Toole Director | Trustee | 0.5 | $0 |
Veronica Dawkins Director | Trustee | 0.5 | $0 |
David Kennedy Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $698,217 |
| Investment income | $43 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$32,305 |
| Net Gain/Loss on Asset Sales | $1,827 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,304,649 |
| Statement of Expenses | |
|---|---|
| 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. | $303,287 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $476,791 |
| Pension plan accruals and contributions | $28,666 |
| Other employee benefits | $34,846 |
| Payroll taxes | $58,275 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,799 |
| Fees for services: Accounting | $37,556 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,418 |
| Advertising and promotion | $925 |
| Office expenses | $62,888 |
| Information technology | $66,918 |
| Royalties | $0 |
| Occupancy | $186,216 |
| Travel | $10,399 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,981 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $177,671 |
| Insurance | $99,482 |
| All other expenses | $0 |
| Total functional expenses | $1,928,425 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,575 |
| Savings and temporary cash investments | $0 |
| 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 | $9,255 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1 |
| Total assets | $1,885,575 |
| Accounts payable and accrued expenses | $28,934 |
| 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 | $0 |
| Other liabilities | $11,096,500 |
| Total liabilities | $11,125,434 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | -$9,239,859 |