Proclaim Liberty Inc
- Assets
- $7.4m
- Revenue
- $756.8k
- Investments
- $35.1k
- Employees
- 0
- Location
- Spokane, WA
- Founding
- 04/1974
- Data as of
- 06/2022
- EIN
- 23-7227770
Organization Overview
Proclaim Liberty Inc is located in Spokane, WA. The organization was established in 1974. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Proclaim Liberty 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 06/2022, Proclaim Liberty Inc generated $756.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $1.0m during the year ending 06/2022. While expenses have increased by 10.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
LOW-INCOME HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES A LOW-INCOME HOUSING PROJECT UNDER THE U.S. DEPT OF HUD. TENANTS ARE CERTIFIED UNDER LOW-INCOME GUIDELINES. THERE ARE 48 UNITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Killian Director | Trustee | 2 | $0 |
Pamela Starbuck Director | Trustee | 2 | $0 |
Kris Munir Director | Trustee | 2 | $0 |
Richard Lanphear Director | Trustee | 2 | $0 |
Brian Grow President, Treasurer | Officer | 2 | $0 |
Mitch Swenson Vice-Pres | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $465,848 |
| 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 | $465,848 |
| Total Program Service Revenue | $290,901 |
| Investment income | $29 |
| 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 | $756,778 |
| 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 | $55,570 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,389 |
| Payroll taxes | $4,946 |
| Fees for services: Management | $32,695 |
| Fees for services: Legal | $3,177 |
| Fees for services: Accounting | $30,518 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $471 |
| Office expenses | $10,247 |
| 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 | $130 |
| Interest | $123,944 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $344,449 |
| Insurance | $35,108 |
| All other expenses | $14,020 |
| Total functional expenses | $1,007,060 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,173 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,087 |
| 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 | $18,607 |
| Net Land, buildings, and equipment | $6,913,639 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $35,100 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $343,917 |
| Total assets | $7,393,523 |
| Accounts payable and accrued expenses | $33,818 |
| Grants payable | $0 |
| Deferred revenue | $6,119 |
| 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 | $5,611,441 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,569 |
| Total liabilities | $5,664,947 |
| Net assets without donor restrictions | $1,728,576 |
| 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 | $7,393,523 |