Zumbro Ridge Estates Inc
- Assets
- $2.6m
- Revenue
- $511.7k
- Investments
- $0.0
- Employees
- 1
- Location
- Rochester, MN
- Founding
- 10/2018
- Data as of
- 12/2021
- EIN
- 82-1446789
Organization Overview
Zumbro Ridge Estates Inc is located in Rochester, MN. The organization was established in 2018. 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. Zumbro Ridge Estates 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, Zumbro Ridge Estates Inc generated $511.7k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 45.4% each year . All expenses for the organization totaled $466.1k during the year ending 12/2021. While expenses have increased by 43.3% per year over the past 5 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 LOW INCOME HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME FAMILIES THROUGH A MEMBERSHIP OWNED MOBILE HOME PARK.
TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME FAMILIES THROUGH A MEMBERSHIP OWNED MOBILE HOME PARK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janine Betts Treasurer | OfficerTrustee | $0 | |
James Graham Vice Preside | OfficerTrustee | $0 | |
Eric Nath President | OfficerTrustee | $0 | |
Whitney Butlin Secretary | Trustee | $0 | |
Allie Lechner Operations M | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,935 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,209 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,144 |
| Total Program Service Revenue | $482,265 |
| Investment income | $264 |
| 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 | $511,673 |
| 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 | $28,833 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,248 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,477 |
| Fees for services: Accounting | $9,460 |
| 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 | $14,842 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $258,307 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $118,721 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,493 |
| Insurance | $9,517 |
| All other expenses | $0 |
| Total functional expenses | $466,134 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $102,532 |
| Savings and temporary cash investments | $111,664 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,460 |
| 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 | $5,997 |
| Net Land, buildings, and equipment | $2,386,834 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $38,694 |
| Other assets | $0 |
| Total assets | $2,648,181 |
| Accounts payable and accrued expenses | $11,342 |
| Grants payable | $0 |
| Deferred revenue | $396 |
| 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 | $2,323,511 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,335,249 |
| Net assets without donor restrictions | $312,932 |
| 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 | $2,648,181 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Zumbro Ridge Estates Inc has recieved totaling $17,832.
| Awarding Organization | Amount |
|---|---|
Rochester Area Foundation Rochester, MN PURPOSE: PROGRAM SUPPORT | $17,832 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Wisconsin Housing Preservation Corp Madison, WI | $363,112,557 | $53,775,337 |
Commonbond Communities St Paul, MN | $162,416,723 | $28,132,790 |
Ho-Chunk Housing And Community Development Agency Tomah, WI | $18,849,800 | $12,706,218 |
Southwest Minnesota Housing Partnership Slayton, MN | $59,310,088 | $10,657,099 |
Reach For Your Potential Inc Iowa City, IA | $7,743,905 | $10,140,331 |
Ppl Properties Minneapolis, MN | $55,862,410 | $5,681,463 |
Region Xii Council Of Governments Inc Carroll, IA | $20,470,902 | $9,309,351 |
Grand Forks Homes Inc Grand Forks, ND | $15,508,002 | $4,473,354 |
Community Action Region Vi Jamestown, ND | $1,501,649 | $3,945,545 |
Ponderosa Apartments Inc Spearfish, SD | $17,012,312 | $3,089,734 |
Beyond Shelter Inc Fargo, ND | $39,993,501 | $6,508,362 |
3700 Green Tree Corporation Milwaukee, WI | $10,160,568 | $2,809,473 |