Liberty Affordable Housing Inc
- Assets
- $40.6m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Rome, NY
- Founding
- 03/2003
- Data as of
- 12/2022
- EIN
- 30-0056836
Organization Overview
Liberty Affordable Housing Inc is located in Rome, NY. The organization was established in 2003. 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 12/2022, Liberty Affordable Housing Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liberty Affordable Housing 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, Liberty Affordable Housing Inc generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.7%) each year. All expenses for the organization totaled $2.8m during the year ending 12/2022. 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 PROVIDE AFFORDABLE, SECURE HOUSING TO LOWER INCOME AND ELDERLY TENANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED AFFORDABLE, SECURE HOUSING TO LOWER INCOME AND ELDERLY TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Carello President | OfficerTrustee | 0 | $0 |
Donald Davidson Vice President | OfficerTrustee | 0 | $0 |
John Buffa Treasurer | OfficerTrustee | 0 | $0 |
David Collis Secretary | OfficerTrustee | 0 | $0 |
Walter Madej Chaplain | Trustee | 0 | $0 |
Patricia Caprio Vice President | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $5,000 |
| 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 | $5,000 |
| Total Program Service Revenue | $1,122,513 |
| Investment income | $239,742 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,713 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,436,146 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $94,141 |
| Fees for services: Accounting | $25,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $890,448 |
| Advertising and promotion | $5,709 |
| Office expenses | $39,204 |
| Information technology | $61,673 |
| Royalties | $0 |
| Occupancy | $84,178 |
| Travel | $46,219 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,360 |
| Interest | $15,828 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,358 |
| Insurance | $30,505 |
| All other expenses | $4,894 |
| Total functional expenses | $2,797,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $489,463 |
| Savings and temporary cash investments | $1,234,393 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,832 |
| 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 | $154,149 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,730,528 |
| Total assets | $40,622,365 |
| Accounts payable and accrued expenses | $303,866 |
| 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 | $68,110 |
| Unsecured mortgages and notes payable | $783,171 |
| Other liabilities | $213,549 |
| Total liabilities | $1,368,696 |
| Net assets without donor restrictions | $39,253,669 |
| 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 | $40,622,365 |