Housing Economic Reinvestment Opportunities Inc
- Assets
- $21.8m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Macon, GA
- Founding
- 02/2012
- Data as of
- 12/2021
- EIN
- 26-4311505
Organization Overview
Housing Economic Reinvestment Opportunities Inc is located in Macon, GA. The organization was established in 2012. 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. Housing Economic Reinvestment Opportunities 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, Housing Economic Reinvestment Opportunities Inc generated $5.7m in total revenue. All expenses for the organization totaled $6.5m during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ENTITY'S PURPOSE IS TO PROVIDE HOUSING AND ECONOMIC OPPORTUNITIES FOR LOW AND VERY-LOW INCOME PEOPLE AND FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING AND ECONOMIC OPPORTUNITIES FOR LOW AND VERY-LOW INCOME PEOPLE AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Suyon Haugabrook CFO | Officer | 0 | $0 |
Michael T Austin Ceo/secretary | Officer | 1 | $0 |
Eric P Manson Director | Trustee | 0 | $0 |
John C Walker III Director | Trustee | 0.5 | $0 |
Joann Fowler Director | Trustee | 0.5 | $0 |
Joyce Schafer Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,000 |
| 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 | $5,000 |
| Total Program Service Revenue | $5,672,789 |
| Investment income | $2,631 |
| 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 | $5,680,420 |
| 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 | $791,961 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $241,658 |
| Payroll taxes | $0 |
| Fees for services: Management | $400,674 |
| Fees for services: Legal | $47,604 |
| Fees for services: Accounting | $93,251 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,141 |
| Office expenses | $124,025 |
| 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 | $258,583 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,579,628 |
| Insurance | $336,016 |
| All other expenses | $583,456 |
| Total functional expenses | $6,481,280 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,948,620 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $81,351 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $52,374 |
| Prepaid expenses and deferred charges | $186,461 |
| Net Land, buildings, and equipment | $9,482,635 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,751,441 |
| Accounts payable and accrued expenses | $477,283 |
| Grants payable | $0 |
| Deferred revenue | $64,291 |
| 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 | $7,368,891 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,167 |
| Total liabilities | $7,924,632 |
| Net assets without donor restrictions | $13,826,809 |
| 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 | $21,751,441 |
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