Church Community Housing Corporation
- Assets
- $25.7m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 18
- Location
- Newport, RI
- Founding
- 05/1971
- Data as of
- 09/2023
- EIN
- 05-0343709
Organization Overview
Church Community Housing Corporation is located in Newport, RI. The organization was established in 1971. 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. As of 09/2023, Church Community Housing Corporation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Church Community Housing 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 09/2023, Church Community Housing Corporation generated $5.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $3.6m during the year ending 09/2023. While expenses have increased by 4.2% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HOUSING OPPORTUNITIES FOR LOW AND MODERATE INCOME PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES HOME OWNERSHIP AND RENTAL OPPORTUNITIES TO LOW AND MODERATE INCOME PERSONS THROUGH RENTAL OF PROPERTY, ACQUISITION, REHABILITATION AND SALE OF PROPERTIES AND DEVELOPMENT OF AFFORDABLE HOUSING. THE ORGANIZATION HAS 113 APARTMENTS AVAILABLE FOR RENT AT AFFORDABLE RATES. THE ORGANIZATION IS WORKING ON 8 PROPERTIES IN VARIOUS STAGES OF REHABILITATION INCLUDING 2 SOLD DURING THE YEAR. THE ORGANIZATION IS WORKING ON THE REHABILITATION OF 2 EXISITING AND 1 NEW AFFORDABLE HOUSING COMPLEXES AND THE ORGANIZATION ALSO WORKED ON 3 PREDEVELOPMENT PROJECTS THAT WOULD PROVIDE FOR ADDITIONAL AFFORDABLE HOUSING. FOR PROPERTIES SOLD TO LOW AND MODERATE INCOME PERSONS, THE ORGANIZATION RETAINED OWNERSHIP OF THE LAND UNDER A LAND TRUST MODEL AND SOLD THE BUILDING WITH A GROUND LEASE LIMITING FUTURE SALES TO PERSONS MEETING INCOME LIMITS FOR LOW AND MODERATE INCOME HOUSEHOLDS. THE ORGANIZATION OWNS 104 PARCELS OF LAND UNDER THE LAND TRUST MODEL.
REVOLVING LOAN FUND INITIALLY FUNDED BY FEDERAL FUNDS PASSED THROUGH VARIOUS RI COMMUNITIES AND ADDITIONAL FUNDS PROVIDED BY THE ORGANIZATION USED TO PROVIDE ACQUISITION AND PROPERTY REHABILITATION LOANS TO LOW AND MODERATE INCOME PERSONS CONSISTING OF 293 LOANS, INCLUDING 21 NEW LOANS DURING THE YEAR. IN ADDITION, THE ORGANIZATION ASSISTS THE LOCAL COMMUNITY IN ADMINISTERING ITS CDBG LOAN FUND FOR LOW AND MODERATE INCOME PERSONS OF WHICH THE ORGANIZATION ASSISTED IN THE ADMINISTRATION OF 1 LOAN DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marjorie Jensen Director | Trustee | 1 | $0 |
Robert Sabel Treasurer | OfficerTrustee | 2 | $0 |
Patricia Sargent President | OfficerTrustee | 1 | $0 |
Barbara O'reilly Director | Trustee | 1 | $0 |
Jennifer Murray Director | Trustee | 1 | $0 |
Susan Bodington Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
R P Marzilli & Company Contractor | 9/29/23 | $1,282,211 |
Macpherson Builders Llc Contractor | 9/29/23 | $774,597 |
Union Studio Architect Architects | 9/29/23 | $354,294 |
Liroo Landscaping Architect Landscape Architect | 9/29/23 | $231,873 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $624,064 |
| All other contributions, gifts, grants, and similar amounts not included above | $122,768 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $746,832 |
| Total Program Service Revenue | $4,910,639 |
| Investment income | $20,479 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$479,822 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,217,929 |
| 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. | $147,231 |
| Compensation of current officers, directors, key employees. | $12,735 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,019,993 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $194,780 |
| Payroll taxes | $94,955 |
| Fees for services: Management | $16,058 |
| Fees for services: Legal | $17,744 |
| Fees for services: Accounting | $27,313 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $33,242 |
| Advertising and promotion | $3,286 |
| Office expenses | $22,001 |
| Information technology | $13,005 |
| Royalties | $0 |
| Occupancy | $6,900 |
| Travel | $6,169 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,193 |
| Interest | $187,168 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $309,720 |
| Insurance | $95,422 |
| All other expenses | $219,275 |
| Total functional expenses | $3,572,705 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,107,055 |
| Savings and temporary cash investments | $982,894 |
| Pledges and grants receivable | $89,181 |
| Accounts receivable, net | $730,420 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,103,806 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,003,892 |
| Net Land, buildings, and equipment | $13,541,281 |
| Investments—publicly traded securities | $6,779 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,131,609 |
| Total assets | $25,696,917 |
| Accounts payable and accrued expenses | $1,973,972 |
| Grants payable | $0 |
| Deferred revenue | $79,037 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $4,529,199 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,729,796 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,315,457 |
| Total liabilities | $14,627,461 |
| Net assets without donor restrictions | $7,147,223 |
| Net assets with donor restrictions | $3,922,233 |
| 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 | $25,696,917 |