Indelible Housing Inc
- Assets
- $1.1m
- Revenue
- $707.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 07/2019
- Data as of
- 12/2022
- EIN
- 83-2347693
Organization Overview
Indelible Housing Inc is located in Washington, DC. The organization was established in 2019. 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. Indelible 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 12/2022, Indelible Housing Inc generated $707.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (22.0%) each year. All expenses for the organization totaled $8.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (74.9%) per year over the past 3 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
THE MISSION OF INDELIBLE HOUSING, INC. IS THE PRESERVATION OF AFFORDABLE HOUSING IN IOWA AND ECONOMIC REVITALIZATION OF THE CITY OF GRINNELL, IOWA. TO SECURE THE BRIGHTEST FUTURE FOR THE CITY AND ITS RESIDENTS, HOUSING POLICY AND ECONOMIC REVIATALIZATION MUST BENEFIT ALL SEGMENTS OF THE CITY'S POLULATION AND ALL COMMUNITIES WITHIN THE CITY. THE FREE MARKET AND PROFIT-MOTIVATED INVESTMENT ACTIVITY OFTEN LEAVE CERTAIN COMMUNITIES AND POPULATION SEGMENTS UNDERSERVED. THE DIRECTORS HAVE ESTATBLISHEE THE COPORATION WITH ITS PRIMARY MISSION TO HELP RESOLVE THIS DEFICIENCY AND BRING ECONOMIC REVITALIZATION, PRIMARILY IN THE FORM OF IMPROVED AND AFFORDABLE HOUSING, JOB OPPORTUNITIES AND COMMUNITY AMENITIES TO THE CITY'S LOWER-INCOME NEIGHBORHOODS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDELIBLE HOUSING, INC. ACQUIRED A 50 UNIT ELDERLY LOW INCOME HOUSING PROJECT, MT. CARMEL, AND A 30 UNIT ELDERLY LOW INCOME HOUSING PROJECT, MT. VILLAGE, BOTH IN WATERLOO, IOWA. THE PROPERTIES WERE ACQUIRED WITH DONOR CONTRIBUTIONS AND A LOAN FROM KEY BANK. INDELIBLE USED DONOR FUNDS TO RENOVATE THE PROPERTIES WHICH ARE RENTED TO HUD QUALIFIED FAMILIES AT BELOW MARKET RATES PURSUANT TO SECTION 8. THIS ACQUISITION SOLIDIFIES INDELIBLE'S COMMITTMENT TO HOUSING PRESERVATION IN IOWA. THE PROJECT RECEIVED ADDITIONAL FUNDING IN 2022 AND THE PROJECT WAS CONTRIBUTED TO WATERLOO INDELIBLE HOUSING LLC WITH INDELIBLE HOUSING, INC. RETAINING A 51% INTEREST IN THE PROJECT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard I Knapp President | Officer | $0 | |
Tony Hernandez Secretary | OfficerTrustee | $0 | |
Bill Menner Treasurer | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $758,189 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $758,189 |
| Total Program Service Revenue | $0 |
| Investment income | $697 |
| 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 | $707,713 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,109 |
| 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 | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $8,109 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,676 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $175,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $114,588 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $837,774 |
| Total assets | $1,131,038 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $1,131,038 |
| Total liabilities and net assets/fund balances | $1,131,038 |