Bangor Homes Non-Profit Housing Corporation is located in Bay City, MI. The organization was established in 1978. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Bangor Homes Non-Profit Housing Corporation employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bangor Homes Non-Profit 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 12/2021, Bangor Homes Non-Profit Housing Corporation generated $1.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 0.7% 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
OPERATION OF SUBSIDIZED HOUSING FACILITIES FOR PERSONS OF LOW AND MODERATE INCOME LEVELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HUD SUBSIDIZED LOW INCOME RENTAL PROPERTY
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lester Howell Treasurer | OfficerTrustee | 2 | $0 |
Jean Ann Styn-Deshano Vice-President | OfficerTrustee | 2 | $0 |
Douglas Rise President | OfficerTrustee | 2 | $0 |
Jeff Hunt Director | Trustee | 1 | $0 |
James Whaley Director | Trustee | 1 | $0 |
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 | $1,667,225 |
Investment income | $578 |
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 | $1,683,602 |
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 | $253,888 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $25,194 |
Payroll taxes | $18,701 |
Fees for services: Management | $101,160 |
Fees for services: Legal | $8,106 |
Fees for services: Accounting | $14,510 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $7,887 |
Office expenses | $12,921 |
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 | $241,835 |
Insurance | $208,200 |
All other expenses | $25,859 |
Total functional expenses | $1,431,319 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $167,069 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $30,727 |
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 | $0 |
Net Land, buildings, and equipment | $1,809,027 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,818,293 |
Total assets | $3,825,116 |
Accounts payable and accrued expenses | $57,264 |
Grants payable | $0 |
Deferred revenue | $3,187 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $54,751 |
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 | $0 |
Total liabilities | $115,202 |
Net assets without donor restrictions | $3,709,914 |
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 | $3,825,116 |
Organization Name | Assets | Revenue |
---|---|---|
Community Housing Solutions Cleveland, OH | $1,275,833 | $5,883,143 |
Inter-Cooperative Council At The University Of Michigan Ann Arbor, MI | $7,729,338 | $3,478,855 |
Easton Association Inc Columbus, OH | $1,520,434 | $3,359,729 |
Candlewood Lake Association Inc Mount Gilead, OH | $7,507,877 | $2,998,058 |
Sugar Springs Property Owners Association Inc Gladwin, MI | $5,130,736 | $3,024,373 |
Apple Valley Prop Owners Assn Inc Howard, OH | $6,573,707 | $2,934,345 |
Csl Community Association Inc North Vernon, IN | $4,686,607 | $1,182,975 |
Bangor Homes Non-Profit Housing Corporation Bay City, MI | $3,825,116 | $1,683,602 |
Martin Chapel Housing Corporation Fraser, MI | $1,902,979 | $1,321,649 |
Delaware Housing Corp Columbus, OH | $2,741,729 | $1,297,974 |
Greater Grace Temple Non Profit Housing Corp Detroit, MI | $1,696,809 | $901,507 |
William E English Foundation Indianapolis, IN | $7,061,359 | $1,037,570 |