Socayr Inc
- Assets
- $41.0m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 05/2001
- Data as of
- 12/2023
- EIN
- 61-1352670
Organization Overview
Socayr Inc is located in Louisville, KY. The organization was established in 2001. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Socayr 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, Socayr Inc generated $6.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.9% each year . All expenses for the organization totaled $6.6m during the year ending 12/2023. While expenses have increased by 16.2% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION HAS BEEN ESTABLISHED TO FOSTER THE EMPOWERMENT OF AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
THE ORGANIZATION HAS BEEN ESTABLISHED TO FOSTER THE EMPOWERMENT OF AFFORDABLE HOUSING.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jill Irle Director | Trustee | 1 | $0 |
Travis Yates President | OfficerTrustee | 5 | $0 |
Brandie Bryan-Frankforther Treasurer | OfficerTrustee | 1 | $0 |
Christopher Redmon Secretary | OfficerTrustee | 1 | $0 |
Natalie Harris Director | Trustee | 1 | $0 |
Dr Nath'l Moore Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Beacon Property Management Property Management, Payroll Services An | 12/30/23 | $1,665,651 |
Ferguson Enterprises Llc Construction | 12/30/23 | $789,547 |
K-i Lumber & Building Materials Construction | 12/30/23 | $292,927 |
Rogers Manufacturing Corporation Construction | 12/30/23 | $497,363 |
Vice Cox & Townsend Pllc Legal | 12/30/23 | $304,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $956,368 |
| 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 | $956,368 |
| Total Program Service Revenue | $4,958,115 |
| Investment income | $58,568 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $68,183 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,216,174 |
| 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 | $1,311,068 |
| Pension plan accruals and contributions | $148,153 |
| Other employee benefits | $10,664 |
| Payroll taxes | $63,490 |
| Fees for services: Management | $267,256 |
| Fees for services: Legal | $19,821 |
| Fees for services: Accounting | $37,293 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $816,727 |
| Advertising and promotion | $42,722 |
| Office expenses | $787,392 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,360,008 |
| Travel | $19,047 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,373 |
| Interest | $452,979 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $795,249 |
| Insurance | $294,928 |
| All other expenses | $99,070 |
| Total functional expenses | $6,563,240 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $853,636 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $83,195 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $24,313,648 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $220,146 |
| Net Land, buildings, and equipment | $14,197,748 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,339,426 |
| Total assets | $41,007,799 |
| Accounts payable and accrued expenses | $691,949 |
| Grants payable | $0 |
| Deferred revenue | $61,650 |
| 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 | $10,133,926 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,298,361 |
| Total liabilities | $24,185,886 |
| Net assets without donor restrictions | $16,821,913 |
| 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 | $41,007,799 |