Residential Resources Inc
- Assets
- $932.2k
- Revenue
- $138.4k
- Investments
- $0.0
- Employees
- 3
- Location
- Nashville, TN
- Founding
- 02/1998
- Data as of
- 06/2022
- EIN
- 62-1718171
Organization Overview
Residential Resources Inc is located in Nashville, TN. The organization was established in 1998. According to its NTEE Classification (S31) the organization is classified as: Urban & Community Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Residential Resources Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Residential Resources 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 06/2022, Residential Resources Inc generated $138.4k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $146.1k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 7 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
GUIDANCE FOR ACQUIRING AND SUSTAINING DECENT AFFORDABLE HOUSING BY CONSULTATION, EDUCATION, REFERRALS AND HOUSING DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ASSISTED 273 CLIENTS TO PURCHASE HOUSING.
ASSISTED 177 HOMEOWNER CLIENTS AVOID FORECLOSURE ON THEIR HOME, AND 82 NON DELINQUENT HOMEOWNERS CLIENTS AVOID DELINQUENCY.
ASSISTED 73 CLIENTS SUSTAIN RENTAL HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rosalind Robinson President And Executive Director | Trustee | 40 | $50,000 |
Stephon Fleming N/a | Officer | 3 | $0 |
Lethia Mann Chair | Officer | 3 | $0 |
Dr Paulette Coleman Secretary | Officer | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $138,354 |
| 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 | $138,354 |
| Total Program Service Revenue | $0 |
| 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 | $138,354 |
| 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. | $42,292 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $33,450 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $17,419 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $33,171 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,739 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $146,071 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,186 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $822,007 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $932,193 |
| Accounts payable and accrued expenses | $9,407 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $21,144 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,033 |
| Total liabilities | $50,584 |
| Net assets without donor restrictions | $776,609 |
| Net assets with donor restrictions | $105,000 |
| 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 | $932,193 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Residential Resources Inc has recieved totaling $222,375.
| Awarding Organization | Amount |
|---|---|
Homefree Usa Inc Landover, MD PURPOSE: Property purchased for renovation and sale ot low and moderate income potential home owners. | $222,375 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Americans For Prosperity Arlington, VA | $36,122,323 | $113,776,550 |
Self Help Ventures Fund Durham, NC | $1,059,061,327 | $60,531,771 |
Carter Street Corporation Chattanooga, TN | $16,714,346 | $6,596,539 |
Charlotte Center City Partners Charlotte, NC | $3,090,178 | $6,164,890 |
Venture Richmond Inc Richmond, VA | $7,025,585 | $5,575,003 |
Enterprise Center Inc Chattanooga, TN | $3,677,488 | $5,998,300 |
White River Planning & Development Dist Inc Batesville, AR | $13,868,468 | $4,307,468 |
Common Ground Alliance Alexandria, VA | $4,149,136 | $2,873,132 |
Forward Cities Inc Durham, NC | $1,196,373 | $2,460,187 |
Wepower Saint Louis, MO | $83,554 | $1,807,746 |
Industrial Commons Morganton, NC | $6,060,975 | $4,558,553 |
Partners In Ministry Laurinburg, NC | $1,633,972 | $2,541,350 |