United Housing Inc
- Assets
- $15.3m
- Revenue
- $8.6m
- Investments
- $0.0
- Employees
- 17
- Location
- Memphis, TN
- Founding
- 07/1999
- Data as of
- 06/2023
- EIN
- 62-1597364
Organization Overview
United Housing Inc is located in Memphis, TN. The organization was established in 1999. 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 06/2023, United Housing Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. United 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 06/2023, United Housing Inc generated $8.6m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.8% each year . All expenses for the organization totaled $7.3m during the year ending 06/2023. While expenses have increased by 18.4% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO PROVIDE QUALITY HOUSING OPPORTUNITIES TO MID-SOUTH RESIDENTS THROUGH FINANCIAL EDUCATION, MORTGAGE LENDING, HOME BUILDING AND RENOVATION, AND CREATIVE PARTNERSHIPS WITH PUBLIC, PRIVATE, AND NONPROFIT ENTITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPED AND SOLD SEVERAL HOMES TO FIRST TIME, LOW TO MODERATE INCOME CLIENTS; MADE SECOND MORTGAGE LOANS AT ZERO TO FIVE PERCENT, TO LOW TO MODERATE INCOME HOMEBUYERS; PROVIDED HOMEBUYER EDUCATION TO FIRST TIME HOMEBUYERS; PROVIDED FORECLOSURE PREVENTION SERVICES. PROVIDED AFFORDABLE RESIDENTIAL LEASING TO INDIVIDUALS OR FAMILIES, AND OTHERS WHO ARE UNABLE TO OBTAIN AFFORDABLE RENTAL OPTIONS IN WEST TENNESSEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily Trenholm Director | Trustee | 1 | $0 |
Geoff Lewis Vice Chair | OfficerTrustee | 0.5 | $0 |
Keith Turbett Board Chair | OfficerTrustee | 0.5 | $0 |
Louisa Sheperd Secretary | OfficerTrustee | 0.5 | $0 |
Michelle Couch Treasurer | OfficerTrustee | 0.5 | $0 |
Sharon Hyde Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Labarreare Homes Llc Construction | 6/29/22 | $1,652,684 |
Fifer & Associates Construction | 6/29/22 | $251,256 |
Dwayne Jones Construction Construction | 6/29/22 | $121,291 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,883,629 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,312,020 |
| Noncash contributions included in lines 1a–1f | $725,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,195,649 |
| Total Program Service Revenue | $3,444,987 |
| Investment income | $126,462 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$132,179 |
| 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 | $8,634,919 |
| 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. | $96,417 |
| Compensation of current officers, directors, key employees. | $12,744 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $680,790 |
| Pension plan accruals and contributions | $50,759 |
| Other employee benefits | $128,381 |
| Payroll taxes | $58,473 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,721 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $184,869 |
| Advertising and promotion | $55,931 |
| Office expenses | $64,075 |
| Information technology | $24,169 |
| Royalties | $0 |
| Occupancy | $45,433 |
| Travel | $15,451 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,373 |
| Interest | $43,687 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,968 |
| Insurance | $32,836 |
| All other expenses | $0 |
| Total functional expenses | $7,271,147 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $600 |
| Savings and temporary cash investments | $7,561,266 |
| Pledges and grants receivable | $615,517 |
| Accounts receivable, net | $50,482 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,942,080 |
| Inventories for sale or use | $369,900 |
| Prepaid expenses and deferred charges | $22,499 |
| Net Land, buildings, and equipment | $3,786,127 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,348,471 |
| Accounts payable and accrued expenses | $239,373 |
| Grants payable | $0 |
| Deferred revenue | $382,540 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,231,838 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $2,345,538 |
| Other liabilities | $120,684 |
| Total liabilities | $4,319,973 |
| Net assets without donor restrictions | $9,175,184 |
| Net assets with donor restrictions | $1,853,314 |
| 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 | $15,348,471 |