Preserve Spencer House Inc
- Assets
- $4.2m
- Revenue
- $493.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Tigard, OR
- Founding
- 06/1997
- Data as of
- 12/2023
- EIN
- 31-1501719
Organization Overview
Preserve Spencer House Inc is located in Tigard, OR. The organization was established in 1997. According to its NTEE Classification (L80) the organization is classified as: Housing Support, 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. Preserve Spencer House 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 12/2023, Preserve Spencer House Inc generated $493.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $586.2k during the year ending 12/2023. While expenses have increased by 1.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING FOR LOW-INCOME INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE AFFORDABLE HOUSING TO LOW-INCOME INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rachael Duke Executive Dir. | Officer | 1 | $118,940 |
Danielle Gibson Controller | Officer | 1 | $42,208 |
Amy Lammers Controller | Officer | 1 | $20,669 |
Judy Werner President | OfficerTrustee | 1 | $0 |
Doug Christiansen Treasurer | OfficerTrustee | 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 | $493,170 |
| Investment income | $124 |
| 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 | $493,294 |
| 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 | $64,376 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,522 |
| Fees for services: Management | $29,852 |
| Fees for services: Legal | $2,401 |
| Fees for services: Accounting | $10,470 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,200 |
| Advertising and promotion | $6,483 |
| Office expenses | $29,066 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $81,650 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $132,253 |
| Insurance | $39,716 |
| All other expenses | $9,611 |
| Total functional expenses | $586,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,832 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,754 |
| 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 | $2,394 |
| Net Land, buildings, and equipment | $3,855,882 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $294,616 |
| Total assets | $4,170,478 |
| Accounts payable and accrued expenses | $10,091 |
| Grants payable | $0 |
| Deferred revenue | $84 |
| 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 | $1,688,944 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $42,287 |
| Total liabilities | $1,741,406 |
| Net assets without donor restrictions | $2,429,072 |
| 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 | $4,170,478 |