Hrc Cottages Inc
- Assets
- $5.6m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 7
- Location
- Missoula, MT
- Founding
- 03/2000
- Data as of
- 12/2021
- EIN
- 81-0521301
Organization Overview
Hrc Cottages Inc is located in Missoula, MT. The organization was established in 2000. 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, Hrc Cottages Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hrc Cottages 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 12/2021, Hrc Cottages Inc generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.4% each year . All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 8.2% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OWN, OPERATE, AND MAINTAIN LOW-INCOME HOUSING.
Describe the Organization's Program Activity:
HOUSING FOR LOWER INCOME PEOPLE: 269 TOTAL UNITS OF LOW-INCOME HOUSING IN HAMILTON, CORVALLIS, SUPERIOR, STEVENSVILLE, VICTOR, MISSOULA, ST. REGIS, AND DARBY, MONTANA RENTED AT BELOW MARKET RATES TO LOWER INCOME TENANTS. PROPERTIES INCLUDE BURNT FORK APARTMENTS, WILLOW CREEK APARTMENTS, EDNA COURT COTTAGES, EAGLE APARTMENTS, RIVERSIDE APARTMENTS, CHARLOS APARTMENTS, CEDAR GROVE APARTMENTS, DARBY APARTMENTS, TERRACE APARTMENTS, MAPLE COTTAGES, PARKSIDE APARTMENTS, TWO RIVERS APARTMENTS, SUPERIOR COMMONS APARTMENTS, BURNT FORK PLACE, ASPEN APARTMENTS, MOUNTAIN VIEW, AND BITTERROOT COMMONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Morton President | OfficerTrustee | 10 | $0 |
Larry Degarmo Vice President | OfficerTrustee | 1 | $0 |
Charlie Wellenstein Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $579,320 |
| 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 | $579,320 |
| Total Program Service Revenue | $680,396 |
| Investment income | $463 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $617,795 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,935,106 |
| 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 | $15,283 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,920 |
| Payroll taxes | $4,526 |
| Fees for services: Management | $85,689 |
| Fees for services: Legal | $4,153 |
| Fees for services: Accounting | $12,177 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $86,278 |
| Advertising and promotion | $930 |
| Office expenses | $7,906 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $133 |
| Interest | $39,129 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $253,875 |
| Insurance | $82,942 |
| All other expenses | $3,238 |
| Total functional expenses | $1,442,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $691,945 |
| Savings and temporary cash investments | $1,258,559 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $85,603 |
| 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 | $34,174 |
| Net Land, buildings, and equipment | $3,157,499 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $413,601 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,641,381 |
| Accounts payable and accrued expenses | $47,928 |
| Grants payable | $0 |
| Deferred revenue | $40,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $46,572 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,814,490 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,262,188 |
| Total liabilities | $5,211,178 |
| Net assets without donor restrictions | $430,203 |
| 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 | $5,641,381 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northwest Real Estate Capital Corporation Boise, ID | $42,438,639 | $10,028,848 |
Residential Support Services Billings, MT | $5,433,049 | $8,172,054 |
Habitat For Humanity International Inc Jackson, WY | $8,153,958 | $5,142,791 |
Coeur Dalene Homes Phase Ii Inc Coeur dAlene, ID | $5,635,941 | $3,860,214 |
Montana Homeownership Network Inc Great Falls, MT | $31,389,696 | $4,000,327 |
Habitat For Humanity International Inc Rapid City, SD | $8,201,794 | $4,711,886 |
Wyoming Housing Network Inc Casper, WY | $15,520,089 | $2,919,478 |
Habitat For Humanity International Inc Belgrade, MT | $2,266,155 | $2,086,857 |
Jackson Hole Community Housing Jackson, WY | $38,036,756 | $12,690,732 |
Hrc Cottages Inc Missoula, MT | $5,641,381 | $1,935,106 |
Habitat For Humanity International Inc Hayden, ID | $2,324,082 | $1,463,201 |
Jamestown Stutsman Development Corporation Jamestown, ND | $14,818,717 | $2,044,737 |