Redeemer Village I
- Assets
- $12.7m
- Revenue
- $633.4k
- Investments
- $1.0m
- Employees
- 10
- Location
- Huntindon Valley, PA
- Founding
- 03/1946
- Data as of
- 09/2023
- EIN
- 23-2091414
Organization Overview
Redeemer Village I is located in Huntindon Valley, PA. The organization was established in 1946. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 09/2023, Redeemer Village I employed 10 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Redeemer Village I 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, Redeemer Village I generated $633.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.6% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE MANAGERIAL OVERSIGHT FOR HUD-SUBSIDIZED RENTAL HOUSING TO LOW INCOME ELDERLY AND/OR DISABLED INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES MANAGERIAL OVERSIGHT FOR LOW INCOME ELDERLY/DISABLED RENTAL HOUSING UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael B Laign Board Member, President/ce | OfficerTrustee | 0.6 | $920 |
William Sasso ESQ Chairman | OfficerTrustee | 0.5 | $0 |
Beth Dupree MD Board Member | Trustee | 0.5 | $0 |
S Nicholas Lezzi Board Member | Trustee | 0.5 | $0 |
Sr Ellen Marvel Csr Board Member | Trustee | 0.5 | $0 |
Joseph Ragg Board Member | Trustee | 0.5 | $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 | $139,126 |
| Investment income | $494,242 |
| 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 | $633,368 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | -$160,843 |
| Advertising and promotion | $0 |
| Office expenses | $21,961 |
| 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 | -$20,233 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $644,269 |
| 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 | $9,250,000 |
| 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 | $1,002,656 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,793,659 |
| Total assets | $12,690,584 |
| Accounts payable and accrued expenses | $0 |
| 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 | $491,705 |
| Total liabilities | $491,705 |
| Net assets without donor restrictions | $12,200,979 |
| Net assets with donor restrictions | -$2,100 |
| 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 | $12,690,584 |