River City Housing Inc
- Assets
- $2.0m
- Revenue
- $283.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Louisville, KY
- Founding
- 08/1993
- Data as of
- 12/2022
- EIN
- 61-1229107
Organization Overview
River City Housing Inc is located in Louisville, KY. The organization was established in 1993. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, River City Housing Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. River City Housing 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 12/2022, River City Housing Inc generated $283.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (21.2%) each year. All expenses for the organization totaled $462.9k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (15.4%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
RIVER CITY HOUSING IMPROVES THE QUALITY OF LIFE FOR LOW AND MODERATE-INCOME FAMILIES AND STRENGTHENS NEIGHBORHOODS BY DEVELOPING HIGH-QUALITY AFFORDABLE HOMES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RIVER CITY HOUSING WORKS TO INCREASE HOMEOWNERSHIP FOR LOW TO MODERATE- INCOME FAMILIES, WHILE FOCUSING OUR OUTREACH EFFORTS ON FAMILIES WHO WERE REFUSED THIS OPPORTUNITY FOR GENERATIONS DUE TO POLICIES AND PRACTICES IN THE HOUSING AND LENDING INDUSTRIES THAT WERE BASED ON RACE. BEGINNING WITH DEVELOPING SINGLE FAMILY HOMES FOR HOMEOWNERSHIP, RIVER CITY HOUSING AIMS TO BRIDGE THE RACIAL WEALTH GAP AND TO ADDRESS OTHER RACIAL INEQUITIES. RIVER CITY HOUSING ALWAYS HAS AND WILL CONTINUE TO DEVELOP HIGH-QUALITY, ENERGY-EFFICIENT HOMES TO SELL TO LOW- AND MODERATE-INCOME, FIRST-TIME HOMEBUYERS. RCH PROVIDES OUR BUYERS WITH PROGRAMS TO HELP WITH AFFORDABILITY AT THE TIME OF PURCHASE SUCH AS OUR RCH DOWN PAYMENT ASSISTANCE PROGRAM AND PRIORITIZES PROVIDING HIGHLY-EFFICIENT HOMES WITH LOW MONTHLY ENERGY COSTS AND LONG-TERM AFFORDABILITY THROUGH LOW MAINTENANCE AND REPAIR COSTS. RIVER CITY HOUSING ALSO HAS A HOME REPAIR PROGRAM FOR HOMEOWNERS FOCUSING IN THE CHICKASAW NEIGHBORHOOD. RCH OWNS A 12-UNIT, ONE-BEDROOM APARTMENT COMMUNITY FOR INCOME-QUALIFIED RESIDENTS 55 AND OLDER. THIS AFFORDABLE HOUSING UNIT PROVIDES OUR RESIDENTS WITH NOT ONLY A SECURE HOME, BUT MANY SUPPORT SERVICES SUCH AS FREE ACCESS TO A SENIOR CENTER, MEALS, MONTHLY NURSE AND FINANCIAL ADVISOR VISITS, TRANSPORTATION SERVICES, FINANCIAL ASSISTANCE FOR UTILITIES AND PRESCRIPTIONS, AND CASE MANAGEMENT SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rebecca Roehrig Executive Di | Officer | 40 | $100,983 |
Thela Abell Board Member | Trustee | 2 | $0 |
Patrick Curry Board Member | Trustee | 2 | $0 |
Gabe Fitz Board Member | Trustee | 2 | $0 |
Melinda Golde Board Member | Trustee | 2 | $0 |
Diane Hawkins Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $250,427 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $250,427 |
| Total Program Service Revenue | $34,236 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $9,388 |
| 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 | $283,506 |
| 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. | $100,984 |
| Compensation of current officers, directors, key employees. | $11,282 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,333 |
| Pension plan accruals and contributions | $3,964 |
| Other employee benefits | $34,840 |
| Payroll taxes | $42,752 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $464 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,156 |
| Advertising and promotion | $2,252 |
| Office expenses | $14,891 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,868 |
| Travel | $3,803 |
| 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 | $897 |
| Insurance | $25,262 |
| All other expenses | $0 |
| Total functional expenses | $462,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $319,208 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $172,585 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $55,300 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $73,688 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,357,960 |
| Total assets | $1,978,741 |
| Accounts payable and accrued expenses | $98,808 |
| Grants payable | $0 |
| Deferred revenue | $56,225 |
| 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 | $742,157 |
| Other liabilities | $500,000 |
| Total liabilities | $1,397,190 |
| Net assets without donor restrictions | $188,262 |
| Net assets with donor restrictions | $393,289 |
| 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 | $1,978,741 |