Meadows Housing Corporation Inc
- Assets
- $1.8m
- Revenue
- $207.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Cordova, TN
- Founding
- 10/1989
- Data as of
- 12/2023
- EIN
- 58-1851127
Organization Overview
Meadows Housing Corporation Inc is located in Cordova, TN. The organization was established in 1989. 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. Meadows Housing Corporation 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 12/2023, Meadows Housing Corporation Inc generated $207.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (25.5%) each year. All expenses for the organization totaled $257.0k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (16.3%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING AND SERVICES TO LOW, VERY LOW, AND EXTREMELY LOW INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING AND SERVICES TO LOW, VERY LOW, AND EXTREMELY LOW INCOME FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Andy Thompson Chairperson | OfficerTrustee | 2 | $0 |
Nancy Albonetti Vice Chairperson | OfficerTrustee | 2 | $0 |
Carol Avens Director | Trustee | 1 | $0 |
Dwight Davis Director | Trustee | 1 | $0 |
Meredith Bingham Director | Trustee | 1 | $0 |
Joyce Ferger Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $124,873 |
| 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 | $124,873 |
| Total Program Service Revenue | $82,762 |
| Investment income | $0 |
| 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 | $207,635 |
| 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 | $25,046 |
| Pension plan accruals and contributions | $800 |
| Other employee benefits | $1,296 |
| Payroll taxes | $2,633 |
| Fees for services: Management | $17,668 |
| Fees for services: Legal | $1,238 |
| Fees for services: Accounting | $7,296 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,431 |
| Office expenses | $2,973 |
| Information technology | $4,018 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,086 |
| Interest | $17,728 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,910 |
| Insurance | $42,327 |
| All other expenses | $233 |
| Total functional expenses | $256,952 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $840,656 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,128 |
| 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 | $19,352 |
| Net Land, buildings, and equipment | $861,238 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $107,539 |
| Total assets | $1,843,913 |
| Accounts payable and accrued expenses | $153,926 |
| Grants payable | $0 |
| Deferred revenue | $3,047 |
| 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 | $403,824 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,436 |
| Total liabilities | $573,233 |
| Net assets without donor restrictions | $1,270,680 |
| 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 | $1,843,913 |