Housing Fund For Linn County
- Assets
- $1.8m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Cedar Rapids, IA
- Founding
- 04/2008
- Data as of
- 06/2022
- EIN
- 20-8890152
Organization Overview
Housing Fund For Linn County is located in Cedar Rapids, IA. The organization was established in 2008. According to its NTEE Classification (L80) the organization is classified as: Housing Support, 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. Housing Fund For Linn County 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 06/2022, Housing Fund For Linn County generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.3% each year . All expenses for the organization totaled $1.8m during the year ending 06/2022. While expenses have increased by 20.6% 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.
Since 2016, Housing Fund For Linn County has awarded 79 individual grants totaling $3,389,405. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS DEDICATED TO IMPROVING QUALITY OF LIFE BY OFFERING INNOVATIVE AND FLEXIBLE FUNDING IN ORDER TO EXPAND AFFORDABLE HOUSING OPPORTUNITIES WITHIN LINN COUNTY, IOWA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE HOUSING PROGRAM - GRANT FUNDS AND CONTRIBUTIONS WERE RECEIVED TO MAKE GRANTS AND LOANS TO ORGANIZATIONS AND BUSINESSES FOR RENTAL AND SECURITY DEPOSIT ASSISTANCE, CREATION OF AFFORDABLE HOUSING, REHABILITATION AND CONSTRUCTION OF AFFORDABLE HOUSING AND OTHER ASSISTANCE RELATING TO AFFORDABLE HOUSING FOR LOW AND VERY-LOW INCOME INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karlie Velvick Joined 022022 Director | Trustee | 1 | $0 |
Teresa Jensen Resigned 022022 Director | Trustee | 1 | $0 |
Brenda Neuendorf Resigned 062022 Director | Trustee | 1 | $0 |
Ashley Balius Director | Trustee | 1 | $0 |
Aaron Baumert Director | Trustee | 1 | $0 |
Erika Brighi Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $481,077 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,396,344 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,877,421 |
| Total Program Service Revenue | $0 |
| Investment income | $44,443 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,921,864 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,553,480 |
| Grants and other assistance to domestic individuals. | $148,934 |
| 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 | $4,425 |
| Fees for services: Lobbying | $11,850 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $74,763 |
| Advertising and promotion | $16 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,833,448 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,365,338 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $422,988 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,788,326 |
| Accounts payable and accrued expenses | $13,168 |
| 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 | $0 |
| Other liabilities | $36,092 |
| Total liabilities | $49,260 |
| Net assets without donor restrictions | $560,523 |
| Net assets with donor restrictions | $1,178,543 |
| 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 | $1,788,326 |
Grants Awarded
Over the last fiscal year, Housing Fund For Linn County has awarded $1,550,885 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
MATTHEW 25 MINISTRY HUB PURPOSE: HOME/RENTAL REHAB | $1,010,083 |
CATHERINE MCAULEY CENTER PURPOSE: TRANSITIONAL HOUSING | $58,744 |
AFFORDABLE HOUSING NETWORK INC PURPOSE: HOUSING REHAB/RESALE | $26,500 |
CB CEDAR RAPIDS HOUSING LLLP PURPOSE: RENT ASSISTANCE | $12,000 |
CEDAR VALLEY HABITAT FOR HUMANITY PURPOSE: HOMEOWNER NEW CONSTR | $42,673 |
MARION COMMUNITY BUILD PURPOSE: DOWN PMT ASSISTANCE | $10,000 |