Purple Heart Homes Inc is located in Statesville, NC. The organization was established in 2016. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Purple Heart Homes Inc employed 36 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Purple Heart Homes 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 12/2021, Purple Heart Homes Inc generated $4.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $4.4m during the year ending 12/2021. While expenses have increased by 12.2% 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
PURPLE HEART HOMES, INC. IS DEDICATED TO PROVIDING HOUSING FOR SERVICE- CONNECTED DISABLED VETERANS THAT IS SUBSTANTIAL IN FUNCTION, DESIGN, AND QUALITY, FIT TO WELCOME HOME THE FIGHTING MEN AND WOMEN OF AMERICA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICE MISSIONS: THE HOUSING NEEDS OF THE APPROVED VETERANS WHICH PURPLE HEART HOMES, INC. ASSISTS ARE OFTEN TIMES URGENT. PURPLE HEART HOMES, INC.'S ABILITY TO ADDRESS THESE NEEDS IN A TIMELY AND EFFECTIVE MANNER DEPENDS HEAVILY ON THE FINANCIAL AND MATERIAL CONTRIBUTONS OF INDIVIDUAL DONORS, FOUNDATIONS, AND BUSINESSES. WHEN THE URGENT HOUSING NEEDS OF APPROVED VETERANS ARE MET, THE VETERANS' QUALITY OF LIFE IMPROVES AS THEY ARE ABLE TO LIVE IN A SAFE AND ACCESSIBLE HOME. FIRST MISSION (VETERAN HOUSING): THE PURPLE HEART HOMES,INC. VETERANS HOME OPPORTUNITY PROGRAM (VHOP) PLACED 1 FINANCIALLY QUALIFIED VETERAN IN A HOME IN 2021. THE HOMES SOLD THROUGH VHOP HAVE BEEN SOLD WITH OWNER OCCUPIED DEED RESTRICTIONS IN AN EFFORT TO ENFORCE THAT THE HOME IS VETERAN OCCUPIED. A "SOFT" SECOND NON-PAYMENT BEARING MORTGAGE IS PLACED ON THE HOMES. THE "SOFT" SECOND MORTGAGE IS SET TO DEMINISH IN EQUAL INCREMENTS OVER A 5-YEAR PERIOD, WHICH PRESERVES THE MISSION OF THE PROGRAM BY PREVENTING A WINDFALL SALE, REFINANCING, OR A FORECLOSURE, AS PURPLE HEART HOMES, INC. IS LISTED AS THE MORTGAGE HOLDER OF RECORD. HOME OWNERS THAT COMPLETE A 5-YEAR PERIOD OF MAKING ALL MORTGAGE PAYMENTS IN AGREEMENT WITH THE LENDER AND MAINTAIN OWNER OCCUPANCY HAVE THEIR "SOFT" SECOND MORTGAGE RELEASED AFTER 5 YEARS. THIS 5-YEAR PERIOD EXCEEDS THE "DURATION OF CONCERN" THAT THE AFFORDABLE HOUSING INDUSTRY HAS DETERMINED THE GREATEST RISK FOR NEW HOMEBUYERS. IN ORDER FOR VHOP TO WORK, PURPLE HEART HOMES, INC. RECEIVES HOMES AS A DONATION FROM MULTIPLE SOURCES. UPON RECEIPT, THESE GIFTS-IN-KIND ARE RECORDED AT THE HOME'S ESTIMATED FAIR MARKET VALUE AS A CONTRIBUTION AND AS AN ASSET. THE 2021 TOTAL FOR REAL ESTATE GIFTS-IN-KIND WAS 90,331, ESTIMATED AT FAIR VALUE AT THE TIME OF THE DONATION. THAT AMOUNT HAS BEEN INCLUDED IN THE AMOUNT REPORTED ON PART VIII, LINE 1F. DURING THE COVID-19 PANDEMIC, A TEMPORARY EVICTION MORATORIUM WAS ISSUED RESULTING IN A DECREASE IN FORECLOSURES DURING 2021. AS A RESULT, THERE WAS A SIGNIFICANT DECREASE IN DONATED HOMES. VHOP SOLD 35 PROPERTIES TO INVESTORS IN 2021. SOME DONATED PROPERTIES ARE SOLD TO NON-VETERAN OWNER OCCUPANTS AND INVESTORS AFTER PURPLE HEART HOMES, INC. HAS NOT BEEN ABLE TO PLACE A VETERAN IN THESE PROPERTIES. THESE SALES ARE REFLECTED ON PART VIII, LINE 10A, AND RESULTED IN 945,93 IN GROSS SALES. THE AMOUNT ON PART VIII, LINE 10C OF (390,300)IS BASED ON THE SALES PRICE MINUS THE AMOUNT RECORDED AT THE TIME OF DONATION (FAIR MARKET VALUE). FOR SERVICE-CONNECTED DISABLED VETERANS WHO CURRENTLY OWN A HOME THAT NO LONGER MEETS THEIR PHYSICAL NEEDS, PURPLE HEART HOMES, INC. PARTNERS WITH LOCAL VOLUNTEERS IN THE COMMUNITY WITH THE INTENT OF RESTORING DIGNITY AND "QUALITY OF LIFE" BY CREATING A SAFE, BARRIER-FREE LIVING ENVIRONMENT. THIS SERVICE IS CALLED VETERANS AGING IN PLACE (VAIP). RENOVATIONS ARE PROVIDED AT NO COST TO THE VETERAN. IN 2021 PURPLE HEART HOMES, INC. COMPLETED 176 PROJECTS IN 29 STATES. IN 2020 PURPLE HEART HOMES, INC. BEGAN BUILDING TINY HOMES FOR VETERANS UNDER IT'S VHOP PROGRAM. THE ORGANIZATION PLACED 4 DESERVING VETERANS IN 4 TINY HOMES IN 2021. ONE OF THESE HOMES WAS PROVIDED TO A VIETNAM VETERAN AMPUTEE WHO HAS BEEN LIVING IN AN UNISULATED, UNHEATED, AND UNCOOLED STORAGE SHED WITH NO RUNNING WATER FOR 22 YEARS. TWO OF THE TINY HOMES WERE BUILT AND DONATED TO FIFTH STREET MINISTRIES, A LOCAL HOMELESS SHELTER,TO SERVE AS ADDITIONAL HOUSING FOR VETERANS ENROLLED IN THE VETERAN TRANSITIONAL HOUSING PROGRAM. PURPLE HEART HOMES, INC. PLANS TO BUILD AND DONATE 2 MORE TINY HOMES TO FIFTH STREET MINISTRIES IN 2022. THE FOURTH HOME IS COMPLETED AND AWAITING DELIVERY TO A VETERAN IN NEED. IN 2020 PURPLE HEART HOMES, INC. DEVELOPED A RENTAL PROGRAM FOR THOSE VETERANS WHO MIGHT BE IN A TRANSITIONAL PHASE IN LIFE OR COMING OUT OF A CONGREGATIVE LIVING ENVIRONMENT AND NOT QUITE READY FOR HOME OWNERSHIP BUT WHO ARE READY FOR INDEPENDENT LIVING. THE ORGANIZATION COMPLETED THE CONTRUCTION OF 1 RENTAL HOME IN 2021, FOR A TOTAL OF 5, AND HAVE HAD 4 RENTERS MAKE USE OF THESE PROPERTIES AND THIS PROGRAM. REVENUE FOR THIS PROGRAM WAS 24,662 IN 2021 AND IS REFLECTED ON PART VIII LINE 2B. THE RENTAL PROGRAM WILL PROVIDE A RECURRING REVENUE STREAM TO PURPLE HEART HOMES, INC. THAT WILL ALLOW THIS PROGRAM TO BE SELF-SUSTAINING AND ALLOW PURPLE HEART HOMES, INC. TO SERVE MORE VETERANS. SECOND MISSION (VOLUNTEERS & OUTREACH): PURPLE HEART HOMES, INC. IS ALWAYS LOOKING TO ENGAGE STUDENTS AND VOLUNTEERS OF ALL AGES. IN 2021, PURPLE HEART HOMES, INC. HAD SIGNIFICANTLY LESS VOLUNTEER ENGAGEMENT THAN PREVIOUS YEARS DUE TO THE COVID-19 PANDEMIC AND THE IN-PERSON GATHERING RESTRICTIONS THAT WERE IN PLACE. THIS IMPACTED THE ENTIRE PURPLE HEART HOMES ORGANIZATION INCLUDING ITS CHAPTERS. BY THE END OF 2021 THESE RESTRICTIONS WERE HOWEVER BEGINNING TO EASE AND PURPLE HEART HOMES, INC. EXPECTS VOLUTEER ENGAGEMENT TO INCREASE IN 2022. THERE WERE HOWEVER OPPORTUNITIES TO INCREASE GENERAL AWARENESS AND VOLUNTEER ACTIVITIES VIA SOCIAL AND DIGITAL MEDIA. PURPLE HEART HOMES, INC. REACHED APPROXIMATELY 3.7 MILLION PEOPLE DIGITALLY THROUGH WEBSITE ACTIVITY AND SOCIAL MEDIA ACCOUNTS. PURPLE HEART HOMES, INC.'S HEADQUARTERS HAD A TOTAL OF 100 VOLUNTEERS IN 2021 GIVING 600 HOURS OF THEIR TIME. THIRD MISSION (CHAPTER PRESENCE): DURING 2021 PURPLE HEART HOMES, INC. COMPLETED THE SHIFT AWAY FROM A STAND-ALONE EIN MODEL FOR ITS CHAPTERS AND ABSORBED THE REMAINING CHAPTERS INTO PURPLE HEART HOMES, INC. PURPLE HEART HOMES WILL STILL HAVE A SIMILAR CHAPTER FOOTPRINT AS IN THE PRIOR YEARS HAVING 14 CHAPTERS IN 10 STATES: NC (2), SC (2), NY (2), CO, GA (2), OH, TN, FL, TX AND MI. PURPLE HEART HOMES, INC. STILL PLANS TO CREATE NEW CHAPTERS IN THE UNITED STATES, BUT THE CHAPTERS WILL HAVE FULL SUPPORT OF THE HEADQUARTERS MOVING FORWARD. ALL OF THE PURPLE HEART HOMES, INC. CHAPTERS COMBINED COMPLETED 28 HOME RENOVATION PROJECTS FOR DISABLED AND AGING VETERANS IN THEIR LOCAL AREAS. THE VISION OF PURPLE HEART HOMES, INC. CHAPTERS IS TO HAVE A CONSISTENT PURPLE HEART HOMES, INC. PRESENCE IN REGIONS THROUGHOUT THE UNITED STATES. AS MORE PURPLE HEART HOMES, INC. CHAPTERS ARE ESTABLISHED, THE REACH OF PURPLE HEART HOMES, INC.'S ASSISTANCE IS EXTENDED TO EVEN MORE DISABLED AND AGING VETERANS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
John D Gallina CEO | Officer | 40 | $112,500 |
Tim Mangum Cao | Officer | 40 | $93,500 |
Tim Parker COO | Officer | 40 | $93,295 |
Brad Borders VP Comm. Out | Officer | 40 | $67,298 |
Paul Cockerham Cdo | Officer | 40 | $63,220 |
Kerry Lawing VP Of Operat | Officer | 40 | $62,640 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $1,040 |
Related organizations | $0 |
Government grants | $413,063 |
All other contributions, gifts, grants, and similar amounts not included above | $4,513,668 |
Noncash contributions included in lines 1a–1f | $438,261 |
Total Revenue from Contributions, Gifts, Grants & Similar | $4,927,771 |
Total Program Service Revenue | $24,662 |
Investment income | $1,225 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $26,707 |
Net Income from Fundraising Events | $69,721 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | -$390,300 |
Miscellaneous Revenue | $0 |
Total Revenue | $4,659,786 |
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 | $1,333,384 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $112,044 |
Fees for services: Management | $0 |
Fees for services: Legal | $9,183 |
Fees for services: Accounting | $20,500 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $117,108 |
Advertising and promotion | $48,563 |
Office expenses | $57,129 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $45,144 |
Travel | $17,533 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $4,123 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $258,427 |
Insurance | $58,741 |
All other expenses | $59,233 |
Total functional expenses | $4,420,304 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $1,305,028 |
Savings and temporary cash investments | $17,279 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $162 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $484,918 |
Prepaid expenses and deferred charges | $23,425 |
Net Land, buildings, and equipment | $1,066,268 |
Investments—publicly traded securities | $82,441 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $6,852 |
Other assets | $1,577,682 |
Total assets | $4,564,055 |
Accounts payable and accrued expenses | $42,376 |
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 | $390,581 |
Other liabilities | $70,710 |
Total liabilities | $503,667 |
Net assets without donor restrictions | $3,070,908 |
Net assets with donor restrictions | $989,480 |
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 | $4,564,055 |
Over the last fiscal year, we have identified 30 grants that Purple Heart Homes Inc has recieved totaling $1,673,893.
Awarding Organization | Amount |
---|---|
Thdf Ii Inc Atlanta, GA PURPOSE: To assist local charities | $1,200,000 |
Elsa And Peter Soderberg Charitable Foundation Inc Boca Grande, FL PURPOSE: GENERAL | $175,000 |
Patriot Military Family Foundation Mooresville, NC PURPOSE: support | $91,700 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $37,875 |
Local Initiatives Support Corporation New York, NY PURPOSE: SEE PART IV | $30,000 |
Reserve At Lake Keowee Charitable Foundation Sunset, SC PURPOSE: GENERAL SUPPORT | $25,400 |
Beg. Balance | $64,317 |
Earnings | $8,743 |
Admin Expense | -$541 |
Ending Balance | $72,519 |
Organization Name | Assets | Revenue |
---|---|---|
Air Force Aid Society Inc Arlington, VA | $262,482,165 | $46,086,376 |
The National Military Family Association Alexandria, VA | $8,448,648 | $9,411,080 |
United Service Organizations Inc Fort Myer, VA | $0 | $2,240,114 |
The Independence Fund Inc Charlotte, NC | $7,812,789 | $8,567,110 |
Marine Corps Association Quantico, VA | $17,818,262 | $7,455,788 |
Armed Services Mutual Benefit Association Goodlettsville, TN | $55,566,131 | $7,665,042 |
U S Naval Sea Cadet Corps Arlington, VA | $6,985,927 | $8,234,482 |
Women In Military Service For America Memorial Foundation Inc Arlington, VA | $11,722,569 | $5,876,595 |
Young Marines Of The Marine Corps League Dumfries, VA | $6,204,129 | $6,595,765 |
Coast Guard Mutual Assistance Incorporated Arlington, VA | $53,600,951 | $7,292,457 |
Navy League Of The United States National Headquarters Arlington, VA | $72,874,046 | $1,354,328 |
Team Red White & Blue Inc Atlanta, GA | $10,402,897 | $10,336,911 |