Housing Corporation Of America
- Assets
- $13.1m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 12
- Location
- Bountiful, UT
- Founding
- 12/1989
- Data as of
- 12/2021
- EIN
- 87-0457932
Organization Overview
Housing Corporation Of America is located in Bountiful, UT. The organization was established in 1989. 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. As of 12/2021, Housing Corporation Of America employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Corporation Of America 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, Housing Corporation Of America generated $2.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $1.6m 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
TO PRESERVE AND PROVIDE AFFORDABLE HOUSING WHILE IMPROVING THE SURROUNDING COMMUNITIES AND OFFERING RESIDENTS A SENSE OF DIGNITY AND PRIDE ASSOCIATED WITH AN IMPROVED STANDARD OF LIVING
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP AND MANAGE HOUSING PROJECTS FOR LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Corey Heimlich Vice President | OfficerTrustee | 30 | $135,000 |
Bonnie Young Secretary | Officer | 30 | $117,000 |
Jon Olson Highest Compensated Employ | 30 | $110,000 | |
Carol Cromar President/treasurer | OfficerTrustee | 30 | $100,000 |
Scott L Bringhurst Jr Chairman | OfficerTrustee | 0.5 | $2,500 |
Sandra Greenway Trustee | Trustee | 0.5 | $2,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $84,496 |
| 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 | $84,496 |
| Total Program Service Revenue | $1,805,709 |
| Investment income | $168,855 |
| 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 | $2,559,381 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,000 |
| Grants and other assistance to domestic individuals. | $23,498 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $245,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $715,126 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $168,753 |
| Payroll taxes | $75,525 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $73,328 |
| Fees for services: Accounting | $20,663 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80,225 |
| Fees for services: Other | $523 |
| Advertising and promotion | $4,826 |
| Office expenses | $63,467 |
| Information technology | $28,568 |
| Royalties | $0 |
| Occupancy | $28,718 |
| Travel | $17,638 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,071 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,951 |
| Insurance | $4,348 |
| All other expenses | $0 |
| Total functional expenses | $1,598,269 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,217,057 |
| Savings and temporary cash investments | $1,053,091 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,617,672 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $439,956 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,568 |
| Net Land, buildings, and equipment | $3,683 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,745,919 |
| Intangible assets | $0 |
| Other assets | $1,868 |
| Total assets | $13,083,814 |
| Accounts payable and accrued expenses | $20,423 |
| Grants payable | $0 |
| Deferred revenue | $3,311 |
| 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 | $23,734 |
| Net assets without donor restrictions | $13,060,080 |
| 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 | $13,083,814 |
Grants Awarded
Over the last fiscal year, Housing Corporation Of America has awarded $16,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Los Angeles, CA PURPOSE: DONATION TO FURTHER THE MISSION OF THE ORGANIZATION | $10,000 |
Los Angeles, CA PURPOSE: TO HELP FUND TEENS TO ATTEND THE YMCA BOLD & GOLD OUTDOOR LEADERSHIP EXPERIENCE | $6,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Housing Corporation Of America has recieved totaling $6,060.
| Awarding Organization | Amount |
|---|---|
Merritt Community Capital Corp Oakland, CA PURPOSE: COVID-19 RELIEF | $6,060 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brothers Redevelopment Inc Edgewater, CO | $28,566,111 | $21,890,998 |
South Of Market Mercy Housing Denver, CO | $1,397,293 | $161,294 |
Northwest Real Estate Capital Corporation Boise, ID | $42,438,639 | $10,028,848 |
Western Region Nonprofit Housing Corporation Salt Lake City, UT | $76,676,954 | $12,236,656 |
Habitat For Humanity Tucson Inc Tucson, AZ | $32,170,830 | $10,758,994 |
Habitat For Humanity International Inc Glenwood Springs, CO | $10,815,473 | $6,555,105 |
Utah Nonprofit Housing Corporation Salt Lake City, UT | $66,026,062 | $36,661,110 |
Mercy Housing South East Denver, CO | $32,176,710 | $9,687,514 |
Save The Family Foundation Of Arizona Mesa, AZ | $6,981,907 | $8,677,083 |
Pikes Peak Habitat For Humanity Inc Colorado Springs, CO | $13,774,284 | $6,271,945 |
Habitat For Humanity International Inc Fort Collins, CO | $6,791,081 | $6,218,115 |
Mercy Housing Calwest Denver, CO | -$18,791,913 | $14,657,764 |