Kenai Peninsula Housing Initiatives Incorporated
- Assets
- $24.2m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 8
- Location
- Homer, AK
- Founding
- 03/1998
- Data as of
- 12/2021
- EIN
- 91-1823180
Organization Overview
Kenai Peninsula Housing Initiatives Incorporated is located in Homer, AK. The organization was established in 1998. 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 12/2021, Kenai Peninsula Housing Initiatives Incorporated employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kenai Peninsula Housing Initiatives Incorporated 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, Kenai Peninsula Housing Initiatives Incorporated generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.5% each year . All expenses for the organization totaled $2.6m during the year ending 12/2021. While expenses have increased by 6.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPTIONS TO THE LOW INCOME AND SPECIAL NEEDS RESIDENTS OF THE KENAI PENINSULA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVED THE NEEDS OF THE LOW INCOME, SENIOR CITIZENS, DISABLED AND SPECIAL NEEDS RESIDENTS THROUGH MARKET SURVEY, SITE WORK, DESIGNING, TRAINING, REFURBISHING DISTRESSED HOUSING, AND CONSTRUCTING SUITABLE AND AFFORDABLE HOUSING AS PART OF AN ON-GOING PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven L Rouse Former Executive Di | Officer | 20 | $220,500 |
Wayne Mundy Vice Chair/t | OfficerTrustee | 1 | $0 |
Bob Crosby Secretary | OfficerTrustee | 1 | $0 |
Colleen Kelly Behen Chair | OfficerTrustee | 1 | $0 |
Brandy Mcgee Current Executive Di | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,051,181 |
| All other contributions, gifts, grants, and similar amounts not included above | $725 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,051,906 |
| Total Program Service Revenue | $1,335,131 |
| Investment income | $82 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $280,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,668,693 |
| 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 | $486,681 |
| Pension plan accruals and contributions | $26,000 |
| Other employee benefits | $0 |
| Payroll taxes | $36,744 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,144 |
| Fees for services: Accounting | $45,284 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,144 |
| Fees for services: Other | $93,711 |
| Advertising and promotion | $590 |
| Office expenses | $26,558 |
| Information technology | $1,268 |
| Royalties | $0 |
| Occupancy | $457,908 |
| Travel | $18,002 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $347,677 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $934,676 |
| Insurance | $125,687 |
| All other expenses | $12,995 |
| Total functional expenses | $2,638,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $426,162 |
| 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 | $9,050 |
| Net Land, buildings, and equipment | $23,516,155 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $267,469 |
| Total assets | $24,218,836 |
| Accounts payable and accrued expenses | $757,653 |
| 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 | $6,414,644 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $136,135 |
| Total liabilities | $7,308,432 |
| Net assets without donor restrictions | $390,193 |
| Net assets with donor restrictions | $16,520,211 |
| 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 | $24,218,836 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Kenai Peninsula Housing Initiatives Incorporated has recieved totaling $150,000.
| Awarding Organization | Amount |
|---|---|
Rasmuson Foundation Anchorage, AK PURPOSE: MULTIFAMILY RENTAL HOUSING PROJECT IN HOMER | $75,000 |
Rasmuson Foundation Anchorage, AK PURPOSE: SENIOR HOUSING DEVELOPMENT IN KENAI | $50,000 |
Rasmuson Foundation Anchorage, AK PURPOSE: FURNITURE AND TECHNOLOGY FOR THE OFFICE AND COMMUNITY HOUSING CENTER IN HOMER | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Village Community Services Arlington, WA | $2,745,181 | $3,984,634 |
Alaska Works Partnership Inc Anchorage, AK | $1,354,654 | $3,295,008 |
Kenai Peninsula Housing Initiatives Incorporated Homer, AK | $24,218,836 | $3,668,693 |
Habitat For Humanity International Inc Lynnwood, WA | $3,495,456 | $1,749,874 |
Muslim Housing Services Bellevue, WA | $3,426,960 | $3,186,350 |
Habitat For Humanity International Inc Shelton, WA | $1,207,578 | $1,842,216 |
Aberdeen Neighborhood Housing Services Aberdeen, WA | $8,432,356 | $774,909 |
Plymouth Healing Communities Seattle, WA | $4,758,204 | $769,785 |
Association Of Alaska Housing Authorities Anchorage, AK | $375,842 | $708,216 |
Mount Zion Madison Street Properties Seattle, WA | $4,009,233 | $612,212 |
General Assembly Of The Christian Church Disciples Of Christ Inc Tacoma, WA | $1,759,165 | $597,012 |
Neighborworks Alaska Homeownership Center Anchorage, AK | $3,205,399 | $399,025 |