Presbyterian Housing Corp
- Assets
- $1.0m
- Revenue
- $227.5k
- Investments
- -$9.0
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 01/1980
- Data as of
- 07/2023
- EIN
- 23-7230453
Organization Overview
Presbyterian Housing Corp is located in Lexington, KY. The organization was established in 1980. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Presbyterian Housing Corp 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 07/2023, Presbyterian Housing Corp generated $227.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (16.9%) each year. All expenses for the organization totaled $211.7k during the year ending 07/2023. As we would expect to see with falling revenues, expenses have declined by (18.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST IN PROVIDING AFFORDABLE HOUSING TO LOW-INCOME FAMILIES AND INDIVIDUALS.
Describe the Organization's Program Activity:
THE PRESBYTERIAN HOUSING CORPORATION OWNS & OPERATES TWO HOUSING PROJECTS FOR LOW-INCOME FAMILIES & INDIVIDUALS. THERE ARE A TOTAL OF 152 UNITS AVAILABLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rett Mcgoodwin Director | Trustee | 2 | $0 |
Robert Chirwa Director | Trustee | 2 | $0 |
Kenneth Okore Director | Trustee | 2 | $0 |
Stan Kramer President | Officer | 2 | $0 |
Randy Raines Treasurer | Officer | 2 | $0 |
Evelyn Kramer Secretary | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $133,988 |
| 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 | $133,988 |
| Total Program Service Revenue | $57,247 |
| Investment income | $5 |
| 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 | $227,543 |
| 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 | $13,245 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,801 |
| Payroll taxes | $1,006 |
| Fees for services: Management | $9,180 |
| Fees for services: Legal | $692 |
| Fees for services: Accounting | $3,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $16,144 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,953 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $37,947 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,668 |
| Insurance | $16,855 |
| All other expenses | $8,712 |
| Total functional expenses | $211,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,222 |
| Savings and temporary cash investments | $23,326 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46,775 |
| 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 | $712 |
| Net Land, buildings, and equipment | $957,116 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | -$9 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,553 |
| Total assets | $1,035,695 |
| Accounts payable and accrued expenses | $50,239 |
| Grants payable | $0 |
| Deferred revenue | $139 |
| 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 | $812,683 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,553 |
| Total liabilities | $868,614 |
| Net assets without donor restrictions | $167,081 |
| 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 | $1,035,695 |