East Lake Initiative A Nonprofit Corporation
- Assets
- $1.1m
- Revenue
- $767.2k
- Investments
- $0.0
- Employees
- 7
- Location
- Birmingham, AL
- Founding
- 03/2011
- Data as of
- 12/2021
- EIN
- 27-1941412
Organization Overview
East Lake Initiative A Nonprofit Corporation is located in Birmingham, AL. The organization was established in 2011. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, East Lake Initiative A Nonprofit Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Lake Initiative A Nonprofit Corporation 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, East Lake Initiative A Nonprofit Corporation generated $767.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 31.5% each year . All expenses for the organization totaled $488.2k during the year ending 12/2021. 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
EAST LAKE INITIATIVE (ELI) STRATEGICALLY PARTNERS TO PROVIDE HOLISTIC COMMUNITY DEVELOPMENT WITHIN JEFFERSON COUNTY. WE BELIEVE THAT A HOLISTIC PROGRAM, FOCUSED ON CREATING A BETTER CIRCUMSTANCE IN MULTIPLE AREAS OF EACH INDIVIDUAL'S LIFE CAN RESULT IN LONG TERM CHANGE. WE HAVE COMMITTED TO BE IN RELATIONSHIP WITH THE FAMILIES OF JEFFERSON COUNTY FOR A MINIMUM OF 25 YEARS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING - ELI IS HELPING TO BRING BACK PRIDE IN THE NEIGHBORHOOD THROUGH HOUSE TO HOME TRANSFORMATIONS. BY ACQUIRING DISTRESSED PROPERTIES AND RENOVATING THEM TO BE QUALITY HOMES ELI IS ABLE TO OFFER TENANTS SAFE AND SECURE HOUSING OPTIONS. RESIDENTS ENTER INTO A MENTORING RELATIONSHIP THAT PREPARES THEM TO BE HOMEOWNERS. THE MENTORSHIP INCLUDES FINANCIAL COUNCELING AND OTHER TYPES OF SUPPORT AS THEY MOVE TOWARDS SUCCESSFUL HOME OWNERSHIP. THROUGH ELI'S LAUNCH HOMEOWNERSHIP PROGRAM FAMILIES CAN MOVE INTO AN ELI OWNED APARTMENT FOR 12 MONTHS WHILE THEY BEGIN PREPARING FOR THE ROAD TO HOMEOWNERSHIP.
EDUCATION AND COMMUNITY DEVELOPMENT - ELI SEEKS TO WORK WITH LOCAL ENTREPRENEURS TO SEE POSITIVE BUSINESSES COME TO THE 1ST AVENUE NORTH BUSINESS DISTRICT. THE ULTIMATE GOAL WOULD BE TO POSITIVELY IMPACT THE LIVES OF LOW-INCOME FAMILIES BY INCREASING THEIR ACCESS TO GOOD AND SERVICES.
THRIVE - THIS PROGRAM UTILIZES OUR ALREADY EXISTING HOLISTIC SERVICES OF HOUSING, TUTORING, AND THE NEIGHBORHOOD GARDEN IN CONJUNCTION WITH OUR COLLABORATIVE PARTNER, SERVING YOU MINISTRIES, PROVIDING EMERGENCY SERVICES: FOOD MARKET AND UTILITY ASSISTANCE AS WELL AS JOB SKILLS TRAINING WITH A KEY NEW COMPONENT BEING COACHES TO WORK WITH EACH FAMILY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pamela Bates Executive Director | Officer | 40 | $49,500 |
Myron Thomas Chief Operating Officer | Officer | 40 | $33,377 |
Deb White Chairperson | OfficerTrustee | 1 | $0 |
Candi Forbes Treasurer | OfficerTrustee | 1 | $0 |
Jonathan Benoit Immediate Past Chairperson | OfficerTrustee | 1 | $0 |
Dr Christian Adedoyin Msw PHD Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $662,668 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $662,668 |
| Total Program Service Revenue | $94,149 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,799 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $767,200 |
| 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. | $82,877 |
| Compensation of current officers, directors, key employees. | $18,244 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $199,576 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,576 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,869 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,180 |
| Advertising and promotion | $12,188 |
| Office expenses | $11,124 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,241 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,046 |
| Interest | $5,414 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,285 |
| Insurance | $11,554 |
| All other expenses | $2,097 |
| Total functional expenses | $488,206 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $531,129 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $563,484 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,611 |
| Total assets | $1,096,224 |
| Accounts payable and accrued expenses | $4,930 |
| 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 | $70,988 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $75,918 |
| Net assets without donor restrictions | $769,994 |
| Net assets with donor restrictions | $250,312 |
| 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 | $1,096,224 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that East Lake Initiative A Nonprofit Corporation has recieved totaling $75,072.
| Awarding Organization | Amount |
|---|---|
Womens Fund Of Greater Birmingham Birmingham, AL PURPOSE: THRIVE TOGETHER JEFFERSON COUNTY | $50,000 |
Community Partnership Of Alabama Inc Birmingham, AL PURPOSE: GENERAL OPERATING COSTS | $25,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $72 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Habitat For Humanity International Inc Vero Beach, FL | $18,200,555 | $5,583,419 |
Distinctive Housing Solutions Inc Brunswick, GA | $6,407,391 | $5,577,789 |
Student Housing Of America Inc Atlanta, GA | $18,887,768 | $4,459,972 |
Barnabas Center Incorporated Fernandina Beach, FL | $4,852,073 | $5,681,284 |
Habitat For Humanity International Inc Franklin, TN | $15,154,488 | $5,571,320 |
Safety Shelter Of St Johns County Inc St Augustine, FL | $5,028,169 | $4,409,853 |
Habitat For Humanity International Inc Delray Beach, FL | $9,929,899 | $4,411,611 |
Invest In Americas Veterans Foundation Louisiana Inc Jacksonville Beach, FL | $64,144,983 | $3,808,573 |
Fairview Housing Management Johnson City, TN | $5,768,830 | $3,674,479 |
Habitat For Humanity International Inc Crystal River, FL | $9,902,038 | $4,338,444 |
Stones River Development Corporation Murfreesboro, TN | $15,999,619 | $139,146 |
Florida Keys Outreach Coalition Inc Key West, FL | $2,454,173 | $2,239,204 |