Ales Foundation
- Assets
- $7.4m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Davenport, IA
- Founding
- 08/2019
- Data as of
- 12/2021
- EIN
- 84-2260420
Organization Overview
Ales Foundation is located in Davenport, IA. The organization was established in 2019. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ales Foundation 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, Ales Foundation generated $4.0m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 9.7% each year. All expenses for the organization totaled $74.1k during the year ending 12/2021. 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
ORGANIZED TO DEVELOP, BUILD, OWN AND OPERATE HOUSING PROJECTS THAT RELIEVE THE AGED, POOR, AND/OR DISTRESSED WHO ARE OTHERWISE UNABLE TO SECURE ADEQUATE HOUSING, AND FURTHER TO USE A PORTION OF THE NET INCOME FROM SUCH ACTIVITIES TO FUND SCHOLARSHIPS FOR THE POOR AND DISTRESSED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOSTER DECENT AFFORDABLE HOUSING FOR INDIVIDUALS WITH LOW TO MODERATE INCOME AND AID SUCH INDIVIDUALS IN NEED OF ASSISTANCE WITH RENT; TO AID INDIVIDUALS IN NEED OF ASSISTANCE WITH EDUCATIONAL EXPENSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Ales Executive Director, Ceo, Coo, Cfo, Sec/treas. | OfficerTrustee | 8 | $0 |
Jerica Pettit Director | Trustee | 1 | $0 |
Elizabeth Delong Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,500,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,530,092 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,030,092 |
| 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 | $4,030,092 |
| 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 | $945 |
| Fees for services: Accounting | $33,703 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,501 |
| Advertising and promotion | $0 |
| Office expenses | $920 |
| 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 | $74,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,999 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,530,022 |
| Intangible assets | $0 |
| Other assets | $750,000 |
| Total assets | $7,357,021 |
| 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 | $25,000 |
| Other liabilities | $0 |
| Total liabilities | $25,000 |
| 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 | $7,332,021 |
| Total liabilities and net assets/fund balances | $7,357,021 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ales Foundation has recieved totaling $900,000.
| Awarding Organization | Amount |
|---|---|
Call Foundation Salt Lake City, UT PURPOSE: CONTRIBUTION MADE TO A 501(C)3 CHARITABLE INSTITUTION IN SUPPORT OF ITS CONTINUING MISSION. | $900,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Home And Community Options Inc Winona, MN | $11,542,509 | $9,788,629 |
Phm New Richmond Senior Housing Inc Roseville, MN | $18,158,628 | $8,376,438 |
Habitat For Humanity Of Kansas City Kansas City, MO | $24,127,378 | $10,262,500 |
Lake View Towers Residents Association Inc Chicago, IL | $58,558,713 | $9,007,735 |
Greater Minnesota Housing Fund St Paul, MN | $209,115,546 | $19,170,053 |
American Indian Community Development Corporation Minneapolis, MN | $37,892,319 | $10,832,403 |
Habitat For Humanity International Inc Madison, WI | $16,210,690 | $8,401,610 |
Phw Menomonee Falls Inc Roseville, MN | $45,125,918 | $7,810,658 |
24 1 Community Land Trust Pine Lawn, MO | $28,090,880 | $9,459,445 |
Habitat For Humanity International Inc Menasha, WI | $15,348,102 | $7,467,447 |
Westside Health Authority Chicago, IL | $12,986,487 | $7,436,512 |
Community Housing Advocacy And Development Wheaton, IL | $43,551,754 | $7,307,138 |