Cherokee Real Estate Inc
- Assets
- $2.2m
- Revenue
- $86.8k
- Investments
- $1.1m
- Employees
- 10
- Location
- New Iberia, LA
- Founding
- 05/2004
- Data as of
- 12/2022
- EIN
- 20-0312811
Organization Overview
Cherokee Real Estate Inc is located in New Iberia, LA. The organization was established in 2004. 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 12/2022, Cherokee Real Estate Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cherokee Real Estate 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, Cherokee Real Estate Inc generated $86.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (14.2%) each year. All expenses for the organization totaled $116.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (6.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANAGEMENT OF ALL OPERATIONS RELATING TO A LOW INCOME HOUSING DEVELOPEMENT - WEST END APARTMENTS - COMPLEX INCLUDES 60 HOUSES
MANAGEMENT OF ALL OPERATIONS RELATING TO A LOW INCOME HOUSING DEVELOPMENT - CHEROKEE APARTMENTS - COMPLEX INCLUDES 34 APARTMENTS
MANAGEMENT OF ALL OPERATIONS RELATING TO A LOW INCOME RENT HOUSE ON OSWALD STREET
MANAGEMENT OF ALL OPERATIONS RELATING TO A LOW INCOME RENT HOUSE ON PIRATES ALLEY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Dugas President | 0 | $43,000 | |
Patrice Dugas VP | 0 | $0 | |
Brittany Dronet Sec/treas | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,200 |
| Interest on Savings | $71,353 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3,600 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8,658 |
| Total Revenue | $86,811 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $43,000 |
| Other employee salaries and wages | $146,476 |
| Pension plans, employee benefits | $20,301 |
| Interest | $1,059 |
| Taxes | $139 |
| Depreciation | $11,468 |
| Occupancy | $30,663 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | -$150,911 |
| Total operating and administrative expenses | $116,214 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $116,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $158,430 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $602,422 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $294,260 |
| Other assets | $71,036 |
| Total assets | $2,189,589 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $238,559 |
| Total liabilities | $238,559 |
Grants Awarded
Over the last fiscal year, Cherokee Real Estate Inc has awarded $6,400 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BILL'S WEATHERIZATION PURPOSE: REHAB HOUSING | $6,000 |
CROSS CATHOLIC CHURCH PURPOSE: GENERAL DONATION | $400 |