Mount Nittany Residences Inc
- Assets
- $2.8m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Altoona, PA
- Founding
- 07/1981
- Data as of
- 09/2022
- EIN
- 25-1353697
Organization Overview
Mount Nittany Residences Inc is located in Altoona, PA. The organization was established in 1981. 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. Mount Nittany Residences 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 09/2022, Mount Nittany Residences Inc generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $1.4m during the year ending 09/2022. 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
TO PROVIDE LOW COST HOUSING FOR LOW AND MODERATE INCOME FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LOW COST HOUSING ON A NON-PROFIT BASIS TO THOSE IN NEED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Larry Louder President | Officer | 0 | $0 |
Charles C Mong Assistant Secretary | Officer | 0 | $0 |
Anna M Peters Secretary | Officer | 0 | $0 |
Richard Rivell Director | Trustee | 0 | $0 |
Jane Gable Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $801,430 |
| 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 | $801,430 |
| Total Program Service Revenue | $661,685 |
| Investment income | $203 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,917 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,587,990 |
| 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 | $265,626 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $52,887 |
| Payroll taxes | $20,661 |
| Fees for services: Management | $122,989 |
| Fees for services: Legal | $607 |
| Fees for services: Accounting | $4,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,814 |
| Office expenses | $34,039 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $573,062 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,202 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $236,716 |
| Insurance | $331 |
| All other expenses | $3,473 |
| Total functional expenses | $1,441,066 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,316 |
| Savings and temporary cash investments | $55,958 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,598 |
| 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 | $71,423 |
| Net Land, buildings, and equipment | $1,658,949 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $156,608 |
| Other assets | $792,201 |
| Total assets | $2,801,053 |
| Accounts payable and accrued expenses | $101,270 |
| Grants payable | $0 |
| Deferred revenue | $912 |
| 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 | $3,901,666 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $55,958 |
| Total liabilities | $4,059,806 |
| Net assets without donor restrictions | -$1,258,753 |
| 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 | $2,801,053 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Mount Nittany Residences Inc has recieved totaling $73,845.
| Awarding Organization | Amount |
|---|---|
Food Bank Of The State College Area Inc State College, PA PURPOSE: FOOD RELIEF | $60,666 |
Central Pennsylvania Food Bank Harrisburg, PA PURPOSE: FOOD RELIEF | $13,179 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Shared Support South Inc Warrington, PA | $9,549,705 | $20,704,692 |
Viecare Butler Llc Cranberry Township, PA | $15,820,808 | $20,591,438 |
Valley View Haven Inc Belleville, PA | $35,512,325 | $21,268,828 |
Montgomery Housing Partnership Inc Silver Spring, MD | $117,127,971 | $17,924,784 |
The Arc Morris County Chapter Nj Inc Morris Plains, NJ | $23,360,035 | $22,219,596 |
Pathways To Housing Pa Philadelphia, PA | $7,362,789 | $17,371,070 |
Reach Riverside Development Corporation Wilmington, DE | $31,775,413 | $42,220,664 |
Jewish Federation Housing Development Fund Company Buffalo, NY | $0 | $1,951,149 |
Enterprise Community Loan Fund Inc Columbia, MD | $332,804,742 | $25,996,753 |
Habitat For Humanity International Inc Cincinnati, OH | $19,861,311 | $21,403,808 |
Alfa Development Inc Newfoundland, NJ | $12,469,438 | $16,200,874 |