Ihomes
- Assets
- $2.7m
- Revenue
- $346.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Columbia, MD
- Founding
- 04/2010
- Data as of
- 06/2022
- EIN
- 27-1254184
Organization Overview
Ihomes is located in Columbia, MD. 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. As of 06/2022, Ihomes employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ihomes 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 06/2022, Ihomes generated $346.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 49.6% each year . All expenses for the organization totaled $118.5k during the year ending 06/2022. While expenses have increased by 23.3% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ACQUIRE, DEVELOP AND MANAGE REAL ESTATE WHICH WILL BE RENTED TO ADULTS WITH DEVELOPMENTAL DISABILITIES AND LIMITED INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE PERIOD ENDED JUNE 30, 2022 THE ORGANIZATION OPERATED RESIDENTIAL UNITS LOCATED IN HOWARD COUNTY. EACH UNIT IS LICENSED TO BE RENTED TO UP TO 4 INDIVIDUALS WITH DEVELOPMENTAL DISABILITIES AND INCOME LIMITATIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lori Somerville Director | OfficerTrustee | 1 | $0 |
Mary Seager Treasurer | OfficerTrustee | 1 | $0 |
Susan Clark Secretary | Trustee | 1 | $0 |
Daniel Frasco President | OfficerTrustee | 1 | $11,538 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $305,058 |
| 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 | $305,058 |
| Total Program Service Revenue | $41,219 |
| Investment income | $0 |
| 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 | $346,277 |
| 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. | $20,919 |
| Compensation of current officers, directors, key employees. | $3,138 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,511 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $920 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,453 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $42,258 |
| Insurance | $7,714 |
| All other expenses | $4,675 |
| Total functional expenses | $118,450 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,632 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,830 |
| 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 | $230 |
| Net Land, buildings, and equipment | $2,554,949 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $111,510 |
| Total assets | $2,705,151 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $1,142,876 |
| 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 | $889,997 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $600 |
| Total liabilities | $2,033,473 |
| Net assets without donor restrictions | $671,678 |
| 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 | $2,705,151 |