Institute For Community Economics Inc
- Assets
- $6.1m
- Revenue
- $463.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 08/1977
- Data as of
- 12/2021
- EIN
- 04-2617283
Organization Overview
Institute For Community Economics Inc is located in Washington, DC. The organization was established in 1977. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institute For Community Economics Inc 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, Institute For Community Economics Inc generated $463.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $283.4k during the year ending 12/2021. While expenses have increased by 1.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE COMMUNITY LAND TRUST MODEL OF PERMANENT AFFORDABLE HOUSING, LAND STEWARDSHIP AND COMMUNITY DEVELOPMENT THROUGH THE OPERATION OF A REVOLVING LOAN FUND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MADE LOW INTEREST LOANS TO COMMUNITY ORGANIZATIONS FOR HOUSING, LAND, AND COMMUNITY DEVELOPMENT PROJECTS DESIGNED TO AID LOW-INCOME PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Priya Jayachandran President And Board Member | Officer | 2 | $282,238 |
Angela Bruno Treasurer | Officer | 4 | $224,775 |
Tracy Kaufman COO | Officer | 3.6 | $211,407 |
Josh Earn Vice President | Officer | 5 | $156,381 |
Klade Hare Secretary | Officer | 4 | $120,825 |
Nicole Meyer Assistant Secretary | Officer | 6 | $72,374 |
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 | $207,434 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $207,434 |
| Total Program Service Revenue | $254,552 |
| Investment income | $5,732 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,487 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $463,231 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,720 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $146,921 |
| Advertising and promotion | $0 |
| Office expenses | $27,433 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,612 |
| Travel | $726 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,534 |
| Interest | $79,089 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,404 |
| All other expenses | $0 |
| Total functional expenses | $283,439 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,716,355 |
| Savings and temporary cash investments | $107,104 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,183 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,623,524 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,937 |
| Net Land, buildings, and equipment | $5 |
| Investments—publicly traded securities | $654,889 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,123,997 |
| Accounts payable and accrued expenses | $77,533 |
| 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 | $4,738,628 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,816,161 |
| Net assets without donor restrictions | $1,307,836 |
| 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 | $6,123,997 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Institute For Community Economics Inc has recieved totaling $50.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $50 |
Peer Organizations
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|---|---|---|
4mycity Inc Taneytown, MD | $269,763 | $70,588,044 |
Columbia Association Inc Columbia, MD | $168,635,825 | $73,239,829 |
Latino Economic Development Corporation Of Washington Dc Washington, DC | $21,296,549 | $55,386,095 |
Kennedy Krieger Education And Community Services Inc Baltimore, MD | $14,340,565 | $48,121,720 |
Mosaic Community Services Inc Timonium, MD | $34,184,592 | $47,201,258 |
Community Of Hope Inc Washington, DC | $67,233,523 | $40,561,982 |
Hampton Roads Community Action Program Inc Newport News, VA | $4,977,691 | $24,100,051 |
Garrett County Maryland Community Action Committee Inc Oakland, MD | $23,823,939 | $14,024,119 |
Strong City Baltimore Baltimore, MD | $3,607,626 | $14,803,870 |
Visit Baltimore Inc Baltimore, MD | $13,591,522 | $23,022,151 |
Allegany County Human Resources Development Commission Inc Cumberland, MD | $11,830,782 | $13,688,639 |
Fusion Partnerships Inc Baltimore, MD | $7,468,833 | $16,079,107 |