Sol Housing
- Assets
- $31.0m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 11
- Location
- Albuquerque, NM
- Founding
- 09/1993
- Data as of
- 12/2022
- EIN
- 85-0412352
Organization Overview
Sol Housing is located in Albuquerque, NM. The organization was established in 1993. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Sol Housing employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sol Housing 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, Sol Housing generated $3.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. While expenses have increased by 6.8% per year over the past 6 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
TO CREATE EXCEPTIONAL HOUSING COMMUNITIES AND PROVIDE ENRICHMENT SERVICES TO SUPPORT HOUSEHOLD STABILITY, HEALTHY FAMILIES, AND SAFER NEIGHBORHOODS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING DEVELOPMENT: SINCE 1996, THE GAHP HAS PARTNERED ON THE DEVELOPMENT OF 591 RENTAL UNITS AND DEVELOPED 121 HOME OWNERSHIP UNITS IN 15 DIFFERENT DEVELOPMENTS IN FIVE DIFFERENT ALBUQUERQUE NEIGHBORHOODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Felipe Rael Executive Di | 50 | $115,463 | |
Juliea Benzaquen Secretary | OfficerTrustee | 1 | $0 |
Russell Brito Board Member | Trustee | 1 | $0 |
Don Dudley President | OfficerTrustee | 2 | $0 |
Sarah Hurteau Board Member | Trustee | 1 | $0 |
Tessa Latson Vice Preside | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Freemans Finest Construction | 12/30/20 | $918,346 |
Dekker Perich Sabatini Architect | 12/30/20 | $396,440 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $149,969 |
| 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 | $149,969 |
| Total Program Service Revenue | $2,281,876 |
| Investment income | $588,582 |
| 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 | $3,020,427 |
| 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 | $594,639 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $228,884 |
| Payroll taxes | $52,791 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,806 |
| Fees for services: Accounting | $34,000 |
| 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 | $36,888 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,841 |
| Travel | $5,635 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,739 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,765 |
| Insurance | $16,256 |
| All other expenses | $12,122 |
| Total functional expenses | $1,192,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,197,163 |
| Savings and temporary cash investments | $3,522,834 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,148,048 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $19,911,758 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,048,931 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | -$20,405 |
| Intangible assets | $0 |
| Other assets | $171,327 |
| Total assets | $30,979,656 |
| Accounts payable and accrued expenses | $18,105 |
| Grants payable | $0 |
| Deferred revenue | $117,600 |
| 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 | $22,023,762 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $166,898 |
| Total liabilities | $22,326,365 |
| Net assets without donor restrictions | $8,653,291 |
| 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 | $30,979,656 |