Unity Homes Inc
- Assets
- $19.1m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 0
- Location
- San Francisco, CA
- Founding
- 12/1977
- Data as of
- 04/2024
- EIN
- 94-2203466
Organization Overview
Unity Homes Inc is located in San Francisco, CA. The organization was established in 1977. 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. Unity Homes Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 04/2024, Unity Homes Inc generated $4.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $3.7m during the year ending 04/2024. While expenses have increased by 7.8% per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW-INCOME HOUSING ON A COOPERATIVE BASIS, IN A MANNER AND FOR THE PURPOSES PROVIDED IN TITLE II OF THE NATIONAL HOUSING ACT, AS AMENDED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION OWNS AND OPERATES A 94-UNIT COOPERATIVE APARTMENT COMPLEX FOR LOW-INCOME ELDERLY AND FAMILIES AT 220 CASHMERE STREET IN SAN FRANCISCO, CALIFORNIA. THIS PROJECT IS REGULATED BY HUD UNDER SECTION 8 OF THE NATIONAL HOUSING ACT AS TO RENT CHARGES AND OPERATING METHODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Derrell Whitley President | OfficerTrustee | 3 | $0 |
Rodney Lee Vice President | OfficerTrustee | 1 | $0 |
Joan Dill Secretary | OfficerTrustee | 1 | $0 |
Alexis Alexander Treasurer | OfficerTrustee | 1 | $0 |
Esther Bennett Director | Trustee | 1 | $0 |
Clarence Statham Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Eugene Burger Management Corporation Property Management & Accounting | 4/29/24 | $876,309 |
Spoa Security Services Onsite Security | 4/29/24 | $261,905 |
Faragon Restoration Ltd Repair/renovation | 4/29/24 | $106,219 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,044,713 |
| 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 | $3,044,713 |
| Total Program Service Revenue | $921,512 |
| Investment income | $16,219 |
| 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 | $3,982,444 |
| 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 | $795,810 |
| Pension plan accruals and contributions | $1,907 |
| Other employee benefits | $108,068 |
| Payroll taxes | $59,729 |
| Fees for services: Management | $67,680 |
| Fees for services: Legal | $48,827 |
| Fees for services: Accounting | $30,352 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,900 |
| Advertising and promotion | $0 |
| Office expenses | $149,572 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,034,684 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,284 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $379,346 |
| Insurance | $0 |
| All other expenses | $74,997 |
| Total functional expenses | $3,697,177 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $508,398 |
| Savings and temporary cash investments | $2,945,704 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,213 |
| 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 | $138,534 |
| Net Land, buildings, and equipment | $9,406,108 |
| Investments—publicly traded securities | $6,119,397 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $10,480 |
| Other assets | $0 |
| Total assets | $19,142,834 |
| Accounts payable and accrued expenses | $127,426 |
| Grants payable | $0 |
| Deferred revenue | $28,422 |
| 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 | $12,158,803 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $12,314,651 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $40,129 |
| Paid-in or capital surplus, or land, building, or equipment fund | $24,117 |
| Retained earnings, endowment, accumulated income, or other funds | $6,763,937 |
| Total liabilities and net assets/fund balances | $19,142,834 |