Independent Housing I Inc
- Assets
- $9.4m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 0
- Location
- East Longmeadow, MA
- Founding
- 07/1969
- Data as of
- 12/2022
- EIN
- 04-6139987
Organization Overview
Independent Housing I Inc is located in East Longmeadow, MA. The organization was established in 1969. 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. Independent Housing I 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 12/2022, Independent Housing I Inc generated $3.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $3.2m during the year ending 12/2022. While expenses have increased by 2.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HOUSING FOR THE ELDERLY AND HANDICAPPED
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELDERLY HOUSING FOR LOW AND MODERATE INCOME TENANTS (ELDERLY AND HANDICAPPED)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeanne B Ahern Director | Trustee | 2 | $0 |
Lynne T Ahern Director | OfficerTrustee | 2 | $0 |
Debra Avery Secretary/cl | Trustee | 2 | $0 |
James Burr Vice Preside | OfficerTrustee | 2 | $0 |
Dr Gail B Higgins Director | Trustee | 2 | $0 |
Louis Hyder Director | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,389,974 |
| 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 | $2,389,974 |
| Total Program Service Revenue | $1,514,488 |
| Investment income | $6,229 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,297 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,924,583 |
| 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 | $300,488 |
| Fees for services: Legal | $33,135 |
| Fees for services: Accounting | $35,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,463 |
| Advertising and promotion | $6,479 |
| Office expenses | $72,448 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $798,160 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,403 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $97,309 |
| Insurance | $167,467 |
| All other expenses | $53,666 |
| Total functional expenses | $3,184,315 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,474 |
| Savings and temporary cash investments | $1,068,959 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,271 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,527 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $32,048 |
| Net Land, buildings, and equipment | $7,355,795 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $216,209 |
| Intangible assets | $0 |
| Other assets | $665,125 |
| Total assets | $9,419,408 |
| Accounts payable and accrued expenses | $296,091 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $2,392,748 |
| Other liabilities | $104,945 |
| Total liabilities | $2,793,784 |
| Net assets without donor restrictions | $6,625,624 |
| 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 | $9,419,408 |