Eastwood Of Ames Inc
- Assets
- $21.2m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Spencer, IA
- Founding
- 12/2006
- Data as of
- 12/2021
- EIN
- 20-4700881
Organization Overview
Eastwood Of Ames Inc is located in Spencer, IA. The organization was established in 2006. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., 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. Eastwood Of Ames 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, Eastwood Of Ames Inc generated $3.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.8% each year . All expenses for the organization totaled $3.7m during the year ending 12/2021. While expenses have increased by 16.4% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE DECENT, SAFE & AFFORDABLE HOUSING FOR LOW-INCOME & VERY LOW-INCOME INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING:PROVIDE DECENT, SAFE & AFFORDABLE HOUSING FOR LOW-INCOME & VERY LOW-INCOME INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Labounty President | Officer | 2.5 | $185,782 |
Samantha Erickson Chief Operating Officer | Officer | 40 | $156,390 |
Mark Vreeman Chief Financial Officer | Officer | 2.5 | $128,770 |
Lee Schoenewe Board Chair | OfficerTrustee | 1 | $0 |
Curt Heidt Board Vice Chair | OfficerTrustee | 1 | $0 |
John Zulk Board Treasurer | OfficerTrustee | 1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,081,940 |
| Investment income | $3,320 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $225,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,310,260 |
| 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 | $175,418 |
| Fees for services: Legal | $413 |
| Fees for services: Accounting | $20,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $105,656 |
| Advertising and promotion | $6,743 |
| Office expenses | $58,025 |
| Information technology | $5,073 |
| Royalties | $0 |
| Occupancy | $1,843,486 |
| Travel | $10,919 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $264,727 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $864,255 |
| Insurance | $0 |
| All other expenses | $306,684 |
| Total functional expenses | $3,661,699 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50 |
| Savings and temporary cash investments | $2,284,311 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $419 |
| 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 | $62,687 |
| Net Land, buildings, and equipment | $18,779,981 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,286 |
| Total assets | $21,177,734 |
| Accounts payable and accrued expenses | $2,780,111 |
| Grants payable | $0 |
| Deferred revenue | $18,372 |
| 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 | $10,979,397 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,468,472 |
| Total liabilities | $15,246,352 |
| Net assets without donor restrictions | $5,931,382 |
| 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 | $21,177,734 |
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