Valley Residential Services
- Assets
- $8.2m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 17
- Location
- Wasilla, AK
- Founding
- 07/1999
- Data as of
- 06/2021
- EIN
- 31-1645473
Organization Overview
Valley Residential Services is located in Wasilla, AK. The organization was established in 1999. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 06/2021, Valley Residential Services employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valley Residential Services 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 06/2021, Valley Residential Services generated $2.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $2.4m during the year ending 06/2021. While expenses have increased by 7.7% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD, ACQUIRE, OWN AND OPERATE AFFORDABLE HOUSING FOR LOW INCOME DISABLED INDIVIDUALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOREST HILLS 2001 - HOUSING FOR LOW INCOME INDIVIDUALS IN THE WASILLA, ALASKA AREA
SWANSON HOUSE - ACCOUNTS FOR THE BALANCES AND ACTIVITIES ASSOCIATED WITH THE SWANSON HOUSE, A HOUSING PROJECT FOR LOW-INCOME INDIVIDUALS.
FOREST HILLS 2003 - HOUSING FOR LOW INCOME INDIVIDUALS IN WASILLA, ALASKA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Weaver CEO | Officer | 40 | $124,839 |
Teri Tess VP Of Accountin | Officer | 40 | $57,742 |
Mark Larson Director | Trustee | 0 | $0 |
Donita Mitchel Director | Trustee | 0 | $0 |
Carolyn Covington Secretary | Trustee | 0 | $0 |
Russell Joyce Vice President | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $544,142 |
| All other contributions, gifts, grants, and similar amounts not included above | $760,530 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,304,672 |
| Total Program Service Revenue | $1,144,918 |
| Investment income | $241 |
| 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 | $2,643,451 |
| 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. | $182,581 |
| Compensation of current officers, directors, key employees. | $153,710 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $161,677 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $44,555 |
| Payroll taxes | $15,516 |
| Fees for services: Management | $62,010 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $721,185 |
| Advertising and promotion | $0 |
| Office expenses | $13,194 |
| 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 | $147,354 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $220,254 |
| Insurance | $97,522 |
| All other expenses | $78,403 |
| Total functional expenses | $2,389,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $267,447 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $155,408 |
| Accounts receivable, net | $170,595 |
| 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 | $27,684 |
| Net Land, buildings, and equipment | $6,894,850 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $684,162 |
| Total assets | $8,200,146 |
| Accounts payable and accrued expenses | $100,565 |
| Grants payable | $0 |
| Deferred revenue | $251,370 |
| 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 | $1,591,773 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $117,720 |
| Total liabilities | $2,061,428 |
| Net assets without donor restrictions | $3,014,340 |
| Net assets with donor restrictions | $3,124,378 |
| 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 | $8,200,146 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Valley Residential Services has recieved totaling $368,000.
| Awarding Organization | Amount |
|---|---|
Rasmuson Foundation Anchorage, AK PURPOSE: HOUSING DEVELOPMENT IN WASILLA | $350,000 |
Rasmuson Foundation Anchorage, AK PURPOSE: MAINTENANCE VEHICLE IN WASILLA | $18,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New Beginnings Seattle, WA | $5,783,436 | $4,899,570 |
Ronald Mcdonald House Charities Of The Inland Northwest Spokane, WA | $19,773,050 | $4,054,646 |
Valley Residential Services Wasilla, AK | $8,200,146 | $2,643,451 |
Cold Climate Housing Research Center Fairbanks, AK | $6,922,217 | $1,739,253 |
Terry Home A Non-Profit Corporation Auburn, WA | $2,075,617 | $996,839 |
1416 Association Lynnwood, WA | $1,146,209 | $613,915 |
Vashon House Hold Vashon, WA | $9,984,310 | $412,316 |
Aero Kirkland Association Seattle, WA | $22,575,758 | $171,258 |
Washington Apartment Association Everett, WA | $187,747 | $391,795 |
Fireweed Housing Development Inc Wasilla, AK | $1,044,200 | $288,205 |
Boys Next Door Adult Family Home Puyallup, WA | $250,012 | $328,128 |
Juanita View Association Seattle, WA | $12,286,258 | $58,121 |