Knox Housing Partnership Inc
- Assets
- $24.6m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 25
- Location
- Knoxville, TN
- Founding
- 09/1991
- Data as of
- 12/2021
- EIN
- 62-1465760
Organization Overview
Knox Housing Partnership Inc, operating under the name Homesource East Tennessee, is located in Knoxville, TN. The organization was established in 1991. 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. As of 12/2021, Homesource East Tennessee employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homesource East Tennessee 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 12/2021, Homesource East Tennessee generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $3.3m during the year ending 12/2021. While expenses have increased by 8.8% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING TO LOW & MODERATE INCOME PERSONS IN EAST TENN THROUGH FIRST-TIME HOMEBUYER EDUCATION, ASSIST WITH 2ND MORTGAGE LOANS DOWNPAYMENT & CLOSING COSTS, NEW SINGLE FAMILY HOUSING CONSTRUCTION, MULTIPLE-FAMILY HOUSING DEVELOPMENT & FORECLOSURE COUNSELING
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ENTITY OWNS AND RENTS SINGLE-FAMILY HOUSES AND MULTI-FAMILY PROPERTIES TO LOW INCOME FAMILIES, AS WELL AS OWNS AND MANAGES APARTMENT COMPLEXES FOR LOW INCOME, ELDERLY RESIDENTS.
THE ENTITY IMPROVES HOUSING CONDITIONS AND PROMOTES NEIGHBORHOOD REVITALIZATION THROUGH ACQUISITION/REHABILITATION AND NEW CONSTRUCTION OF AFFORDABLE HOUSING UNITS WHICH ARE SOLD TO LOW INCOME FAMILIES.
VARIOUS EFFORTS TO ASSIST LOW INCOME PERSONS IN OBTAINING AFFORDABLE AND DESIRABLE HOUSING BY PROVIDING HOMEOWNERSHIP EDUCATION, INDIVIDUAL COUNSELING, AND FORECLOSURE COUNSELING THROUGH A COLLABORATION OF GOVERNMENT AND OTHER ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jackie Mayo President & CEO | Officer | 40 | $105,016 |
Jeremy R Cook Secretary/treasurer | OfficerTrustee | 0.5 | $0 |
Michael J Mcnair Chair | OfficerTrustee | 0.5 | $0 |
Suzanne Hanson Vice Chair | OfficerTrustee | 0.5 | $0 |
Angela Conner Board Member | Trustee | 0.5 | $0 |
Phillip Morgan Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lloyd's Electric Service Inc Electrical | 12/30/21 | $231,735 |
Duracap Asphalt Paving Co Inc Paving Contractor | 12/30/21 | $140,558 |
Debuty Builders Inc Construction | 12/30/21 | $121,983 |
Andrew R Davis Plumbing | 12/30/21 | $193,345 |
Foothills Exc Llc Excavation And Sitework | 12/30/21 | $197,798 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $500 |
| Related organizations | $0 |
| Government grants | $152,169 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,301,008 |
| Noncash contributions included in lines 1a–1f | $939,320 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,453,677 |
| Total Program Service Revenue | $2,225,052 |
| 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 | $3,685,440 |
| 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. | $105,016 |
| Compensation of current officers, directors, key employees. | $105,016 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $857,323 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $92,360 |
| Payroll taxes | $68,222 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,484 |
| Fees for services: Accounting | $14,537 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $28,196 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $33,880 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,595 |
| Interest | $345,519 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $801,539 |
| Insurance | $166,111 |
| All other expenses | $30,369 |
| Total functional expenses | $3,335,748 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $430,333 |
| Savings and temporary cash investments | $751,052 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $176,301 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $172,246 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,297 |
| Net Land, buildings, and equipment | $22,854,438 |
| Investments—publicly traded securities | $2,450 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $166,567 |
| Total assets | $24,560,684 |
| Accounts payable and accrued expenses | $375,878 |
| Grants payable | $0 |
| Deferred revenue | $6,777 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $152,796 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,449,260 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,925,019 |
| Total liabilities | $14,909,730 |
| Net assets without donor restrictions | $3,899,072 |
| Net assets with donor restrictions | $5,751,882 |
| 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 | $24,560,684 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Knox Housing Partnership Inc has recieved totaling $113.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $113 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Big Canoe Property Owners Association Inc And Subsidiary Big Canoe, GA | $48,180,026 | $19,159,834 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |
Alexandria Housing Development Corporation Alexandria, VA | $129,711,642 | $8,689,601 |
Habitat For Humanity Of Greater Nashville Nashville, TN | $71,491,096 | $16,513,254 |
Virginia Supportive Housing Richmond, VA | $30,778,021 | $11,444,363 |
Habitat For Humanity International Inc Memphis, TN | $13,622,959 | $12,248,424 |
Housing Partnership Inc Louisville, KY | $43,644,315 | $10,025,390 |
Habitat For Humanity Of Kansas City Kansas City, MO | $24,127,378 | $10,262,500 |
Our Lady Of Peace Inc Roanoke, VA | $13,777,109 | $11,564,075 |
Guardian Center Inc Ooltewah, TN | $1,527,267 | $10,632,560 |
Jerusalem House Inc Atlanta, GA | $4,358,598 | $7,877,090 |