Open Doors Solutions Inc
- Assets
- $5.7m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 18
- Location
- Atlanta, GA
- Founding
- 08/2018
- Data as of
- 12/2022
- EIN
- 83-0841949
Organization Overview
Open Doors Solutions Inc is located in Atlanta, GA. The organization was established in 2018. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2022, Open Doors Solutions Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Open Doors Solutions 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 12/2022, Open Doors Solutions Inc generated $6.7m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 60.4% each year . All expenses for the organization totaled $2.8m during the year ending 12/2022. While expenses have increased by 40.2% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPEN DOORS MISSION IS TO MAKE CONNECTIONS BETWEEN NON-PROFITS THAT SERVE THOSE EXITING HOMELESSNESS AND PROPERTY OWNERS SEEKING RESIDENTS TO ENSURE THAT HOMES WILL ALWAYS BE AVIALABLE FOR THOSE IN NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROPERTY NAVIGATIONOPEN DOORS IS CONSTANTLY SEEKING FUNDING FOR OUR PROPERTY NAVIGATION SERVICES. THIS PROGRAM IS VITAL AS THE FRONT-LINE PROGRAM THAT RECRUITS PROPERTIES AND MANAGEMENT COMPANIES FOR THE OPEN DOORS PORTFOLIO. THE ENVIRONMENT OF THE ATLANTA'S MULTIFAMILY HOUSING MARKET IN 2022 HAS PROVIDED VERY LOW VACANCY RATES WITH HIGH OWNERSHIP TURNOVER AND DRAMATIC RENTAL RATE INCREASES. HOWEVER, OPEN DOORS HAS CONTINUED TO GROW AND EXPAND DUE TO OUR PROPERTY NAVIGATION EFFORTS. IN 2022, OUR NAVIGATION TEAM PARTNERED WITH 170 PARTICIPATING PROPERTY OWNERS, MANAGEMENT COMPANIES LISTING 536 MULTIFAMILY COMMUNITIES AS WELL AS OUR 137 NONPROFIT COLLABORATIVE PARTNERS. DESPITE THE CHALLENGES OF THE MARKET, OPEN DOORS SECURED RENTAL HOMES FOR 936 PEOPLE IN THE ATLANTA REGION.
TECHNOLOGYOPEN DOORS CONTINUE TO SHOWCASE A LARGE PORTFOLIO OF AVAILABLE AND AFFORDABLE RENTAL UNITS THROUGH GROUNDBREAKING WEB AND MOBILE APPLICATIONS. WITH OUR TECHNOLOGY SOLUTIONS, OUR PARTNERS REPORT FINDING AVAILABLE UNITS AND OBTAINING APPROVALS IN UNDER FOUR WEEKS ON AVERAGE. OPEN DOORS LAUNCHED AN ONLINE COMMUNICATION PORTAL CALLED "OPEN DOORS COMMUNITY." THIS SYSTEM ALLOWS STAKEHOLDERS TO COMMUNICATE ABOUT UNIT ACQUISITION IN REAL-TIME AND VIEW THEIR SPECIFIC PROGRAM METRICS THROUGH VISUAL DASHBOARDS AND REPORTS.
HOUSING SUPPORTSOPEN DOORS HAS APPLIED THE SUCCESSFUL HOUSING PROCESS DEVELOPED FOR AGENCIES WORKING HOUSEHOLDS EXITING HOMELESSNESS AND APPLIED IT TO A NEW PROGRAM CALLED HOUSING SUPPORT NAVIGATION. THIS PROGRAM DIRECTLY SERVES CONSUMERS WHO DON'T HAVE CASE MANAGEMENT SUPPORT BUT ARE EXPERIENCING HOUSING INSECURITY. THROUGH SMALL PILOT PROGRAMS WITH FORT MCPHERSON, THE CITY OF ATLANTA, AND OTHER ORGANIZATIONS, OPEN DOORS PROVIDED "LIGHT-TOUCH" HOUSING NAVIGATION SERVICES, WHICH INCLUDES UNIT LOCATION, LEASE EXECUTION, AND POST-PLACEMENT SUPPORTS TO ENSURE HOUSING STABILITY. WE PLAN TO EXPAND THIS PROGRAM IN SCALE AND SERVICE IN 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Goldman President (chair) | OfficerTrustee | 10 | $0 |
Melissa Frawley Treasurer | OfficerTrustee | 10 | $0 |
Sara Haas Secretary | OfficerTrustee | 2 | $0 |
Marc Lefar Director | Trustee | 2 | $0 |
Russell Hardy Director | Trustee | 3 | $0 |
Christie Eash Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $122,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,240,525 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,362,525 |
| Total Program Service Revenue | $1,354,712 |
| Investment income | $51 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,394 |
| Net Income from Fundraising Events | -$22,859 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,688,035 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $898,212 |
| 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 | $270,957 |
| Other salaries and wages | $787,069 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $181,536 |
| Payroll taxes | $85,142 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,016 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $160,475 |
| Advertising and promotion | $13,882 |
| Office expenses | $12,271 |
| Information technology | $79,353 |
| Royalties | $0 |
| Occupancy | $156,337 |
| Travel | $20,606 |
| 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 | $5,501 |
| Insurance | $2,462 |
| All other expenses | $394 |
| Total functional expenses | $2,794,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,528,635 |
| Savings and temporary cash investments | $340,085 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,492,484 |
| 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 | $35,945 |
| Net Land, buildings, and equipment | $16,839 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $289,888 |
| Total assets | $5,703,876 |
| Accounts payable and accrued expenses | $140,155 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $295,986 |
| Total liabilities | $436,141 |
| Net assets without donor restrictions | $5,267,735 |
| 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 | $5,703,876 |