Highlands Mutual Housing Corporation Inc
- Assets
- $17.7m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Sacramento, CA
- Founding
- 04/2012
- Data as of
- 12/2022
- EIN
- 27-2095088
Organization Overview
Highlands Mutual Housing Corporation Inc is located in Sacramento, CA. The organization was established in 2012. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Highlands Mutual Housing Corporation 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 12/2022, Highlands Mutual Housing Corporation Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. While expenses have increased by 2.6% per year over the past 8 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 OPERATE AFFORDABLE RENTAL HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OWN AND OPERATE THE HIGHLANDS APARTMENTS, A 90-UNIT LOW-INCOME AND FORMERLY HOMELESS RENTAL HOUSING PROJECT LOCATED IN NORTH HIGHLANDS, CA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathy Creswell Chair | OfficerTrustee | 1 | $0 |
Jennifer Higley-Chapman Vice Chair | OfficerTrustee | 1 | $0 |
Corinne Morrison Treasurer | OfficerTrustee | 1 | $0 |
Tricia Stevens Secretary | OfficerTrustee | 1 | $0 |
Roberto Jimenez CEO | Officer | 1 | $0 |
Julie Goldfine CFO | Officer | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,067,707 |
| Investment income | $93,969 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $342,905 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,504,581 |
| 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 | $170,301 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $43,694 |
| Payroll taxes | $11,523 |
| Fees for services: Management | $87,480 |
| Fees for services: Legal | $22,377 |
| Fees for services: Accounting | $21,288 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,000 |
| Advertising and promotion | $399 |
| Office expenses | $47,465 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $438 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,056 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $549,337 |
| Insurance | $33,579 |
| All other expenses | $201,775 |
| Total functional expenses | $1,684,175 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $135,406 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28 |
| 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 | $21,393 |
| Net Land, buildings, and equipment | $12,476,693 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $26,625 |
| Other assets | $5,051,648 |
| Total assets | $17,711,793 |
| Accounts payable and accrued expenses | $123,871 |
| Grants payable | $0 |
| Deferred revenue | $6,296 |
| 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 | $9,666,219 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $69,591 |
| Total liabilities | $9,865,977 |
| Net assets without donor restrictions | $4,539,888 |
| Net assets with donor restrictions | $3,305,928 |
| 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 | $17,711,793 |