Homewood Corporation
- Assets
- $6.9m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 32
- Location
- Milwaukie, OR
- Founding
- 10/1989
- Data as of
- 12/2022
- EIN
- 94-3101853
Organization Overview
Homewood Corporation is located in Milwaukie, OR. The organization was established in 1989. According to its NTEE Classification (O99) the organization is classified as: Youth Development N.E.C., under the broad grouping of Youth Development and related organizations. As of 12/2022, Homewood Corporation employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homewood Corporation 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, Homewood Corporation generated $3.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $2.8m during the year ending 12/2022. While expenses have increased by 1.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
A NOT-FOR-PROFIT ORGANIZATION PROVIDING 113 UNITS OF RETIREMENT HOUSING FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED 113 UNITS OF QUALITY HOUSING AT RENTS BELOW MARKET VALUE TO ELDERLY PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Brian Hotrum Director | Trustee | 0.5 | $0 |
Phil Fogg President | OfficerTrustee | 1 | $0 |
Steve Hopper Director | Trustee | 0.5 | $0 |
Scott Waite Director | Trustee | 0.5 | $0 |
Nick Knapp Director | Trustee | 0.5 | $0 |
Ray Hobizal Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $500 |
| Total Program Service Revenue | $3,227,317 |
| Investment income | $3,764 |
| 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 | $3,231,581 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,500 |
| 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 | $939,413 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $146,658 |
| Payroll taxes | $78,575 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $610 |
| Fees for services: Accounting | $17,170 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,851 |
| Advertising and promotion | $7,956 |
| Office expenses | $94,578 |
| Information technology | $41,854 |
| Royalties | $0 |
| Occupancy | $184,951 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $221,532 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $338,757 |
| Insurance | $68,944 |
| All other expenses | $51,796 |
| Total functional expenses | $2,771,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $350 |
| Savings and temporary cash investments | $1,276,780 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,248 |
| 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 | $79,241 |
| Net Land, buildings, and equipment | $4,626,449 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $96,186 |
| Other assets | $854,646 |
| Total assets | $6,949,900 |
| Accounts payable and accrued expenses | $14,633 |
| Grants payable | $0 |
| Deferred revenue | $61,199 |
| 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 | $6,101,741 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $114,087 |
| Total liabilities | $6,291,660 |
| Net assets without donor restrictions | $658,240 |
| 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 | $6,949,900 |
Grants Awarded
Over the last fiscal year, Homewood Corporation has awarded $100,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PAC CONF OF THE EV CHURCH PURPOSE: Operational | $25,000 |
PACIFIC CONFERENCE FOUNDATION PURPOSE: Operational | $75,000 |