Rush Homes Inc
- Assets
- $4.6m
- Revenue
- $520.9k
- Investments
- $0.0
- Employees
- 11
- Location
- Lynchburg, VA
- Founding
- 01/1998
- Data as of
- 12/2023
- EIN
- 31-1519694
Organization Overview
Rush Homes Inc is located in Lynchburg, VA. The organization was established in 1998. 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 12/2023, Rush Homes Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rush Homes 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, Rush Homes Inc generated $520.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $806.8k during the year ending 12/2023. 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 CREATE AFFORDABLE HOUSING IN THE LYNCHBURG REGION FOR LOW-INCOME FAMILIES WITH DISABILITIES THROUGH DEVELOPMENT, ADVOCACY, AND SUPPORT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PURCHASE, DEVELOP AND MAINTAIN HOMES FOR ADULTS WITH MENTAL AND PHYSICAL DISABILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Sandvig Director | Trustee | 1 | $0 |
Nick Pontius Director | OfficerTrustee | 1 | $0 |
Andrea Miller President | OfficerTrustee | 1 | $0 |
Mike Gillette Director | Trustee | 1 | $0 |
Anthony Beckles Treasurer | OfficerTrustee | 1 | $0 |
James Coleman Director | 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 | $177,891 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $177,891 |
| Total Program Service Revenue | $172,108 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $168,296 |
| 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 | $520,899 |
| 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. | $66,040 |
| Compensation of current officers, directors, key employees. | $14,528 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $337,658 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $40,991 |
| Payroll taxes | $44,901 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,895 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $44,863 |
| Advertising and promotion | $0 |
| Office expenses | $2,015 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,214 |
| Travel | $2,765 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,512 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,840 |
| Insurance | $13,200 |
| All other expenses | $22,848 |
| Total functional expenses | $806,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $875,763 |
| Savings and temporary cash investments | $541,692 |
| Pledges and grants receivable | $7,895 |
| Accounts receivable, net | $37,081 |
| 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 | $1,463 |
| Net Land, buildings, and equipment | $726,848 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,369,776 |
| Total assets | $4,560,518 |
| Accounts payable and accrued expenses | $20,600 |
| Grants payable | $0 |
| Deferred revenue | $77,863 |
| 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 | $279,879 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,608,248 |
| Total liabilities | $2,986,590 |
| Net assets without donor restrictions | $1,525,710 |
| Net assets with donor restrictions | $48,218 |
| 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 | $4,560,518 |