Southeastern Housing Foundation Ii
- Assets
- $6.3m
- Revenue
- $763.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Knoxville, TN
- Founding
- 01/2010
- Data as of
- 12/2023
- EIN
- 27-0266088
Organization Overview
Southeastern Housing Foundation Ii is located in Knoxville, TN. The organization was established in 2010. 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. Southeastern Housing Foundation Ii 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 12/2023, Southeastern Housing Foundation Ii generated $763.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (9.0%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SOUTHEASTERN HOUSING FOUNDATION (SHF) DEVELOPS, OWNS, AND MANAGES MULTI-FAMILY HOUSING FOR AT-RISK AND LOW-INCOME INDIVIDUALS/FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOUTHEASTERN HOUSING FOUNDATION (SHF II) DEVELOPS, OWNS, AND OPERATES MULTI-FAMILY HOUSING FOR AT-RISK AND LOW-INCOME INDIVIDUALS/FAMILIES. IN 2011, SHF II DEVELOPED A 48 UNIT PERMANENT SUPPORTIVE HOUSING FACILITY, AND OPERATED A 24 UNIT AFFORDABLE HOUSING APARTMENT COMPLEX. IN 2013, SHF II PURCHASED A LOW-INCOME HOUSING APARTMENT COMPLEX WITH 36 UNITS OF AFFORDABLE HOUSING. IN 2015, SHF II PURCHASED A LOW-INCOME HOUSING APARTMENT COMPLEX IN DUNLAP, TN WITH 51 UNITS OF AFFORDABLE HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Martin President/board Chair | OfficerTrustee | 3 | $0 |
Todd Harms Board Member | Trustee | 1 | $0 |
Greg Meadows Board Member | Trustee | 1 | $0 |
Joe Petre Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $53,300 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $82,556 |
| 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 | $135,856 |
| Total Program Service Revenue | $808,464 |
| Investment income | $9,975 |
| 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 | $763,926 |
| 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 | $305,797 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $2,978 |
| Other employee benefits | $29,501 |
| Payroll taxes | $18,303 |
| Fees for services: Management | $9,393 |
| Fees for services: Legal | $543 |
| Fees for services: Accounting | $10,765 |
| 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 | $20,875 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,093 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20 |
| Interest | $62,414 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $112,533 |
| Insurance | $36,129 |
| All other expenses | $0 |
| Total functional expenses | $1,034,120 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $367,189 |
| Savings and temporary cash investments | $329,565 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,235 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,619,899 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,088 |
| Net Land, buildings, and equipment | $2,970,359 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,544 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,336,879 |
| Accounts payable and accrued expenses | $114,987 |
| 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 | $3,155,564 |
| Other liabilities | $0 |
| Total liabilities | $3,270,551 |
| Net assets without donor restrictions | $3,066,328 |
| 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 | $6,336,879 |