Faith Housing New Hope Apartments
- Assets
- $2.8m
- Revenue
- $310.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Glendale, CA
- Founding
- 05/2000
- Data as of
- 06/2023
- EIN
- 31-1705626
Organization Overview
Faith Housing New Hope Apartments is located in Glendale, CA. The organization was established in 2000. 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. Faith Housing New Hope Apartments 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 06/2023, Faith Housing New Hope Apartments generated $310.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $487.6k during the year ending 06/2023. While expenses have increased by 2.5% 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
FAITH HOUSING NEW HOPE APARTMENTS IS A NOT-FOR-PROFIT CORPORATION. SEE PART III, LINE I
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAITH HOUSING NEW HOPE APARTMENTS IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF CALIFORNIA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 25 UNIT PROJECT LOCATED IN LOS ANGELES, CALIFORNIA, WHICH PROVIDES HOUSING FOR PERSONS WHO ARE HOMELESS, OR AT RISK OF BEING HOMELESS AND ARE AFFLICTED WITH HIV/AIDS. THE CORPORATION RECEIVES HOUSING ASSISTANCE PAYMENTS PURSUANT TO SECTION 811 OF THE NATIONAL HOUSING ACT, AS AMENDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Nahas President | OfficerTrustee | 0.3 | $0 |
Thomas Spratt Chief Financial Officer | OfficerTrustee | 0.3 | $0 |
Margaret Willis Secretary | OfficerTrustee | 0.3 | $0 |
Brigitte Tweddell Board Member | Trustee | 0.3 | $0 |
Robert Bartley Board Member | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $231,440 |
| 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 | $231,440 |
| Total Program Service Revenue | $74,299 |
| Investment income | $136 |
| 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 | $310,103 |
| 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 | $33,925 |
| Fees for services: Legal | $3,360 |
| Fees for services: Accounting | $12,905 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $412 |
| Advertising and promotion | $0 |
| Office expenses | $9,259 |
| Information technology | $2,666 |
| Royalties | $0 |
| Occupancy | $254,349 |
| Travel | $278 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $212 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $109,557 |
| Insurance | $3,653 |
| All other expenses | $0 |
| Total functional expenses | $487,641 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,045 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $597 |
| 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 | $4,275 |
| Net Land, buildings, and equipment | $2,554,008 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $260,350 |
| Intangible assets | $2,735 |
| Other assets | $7,593 |
| Total assets | $2,840,603 |
| Accounts payable and accrued expenses | $995,907 |
| Grants payable | $0 |
| Deferred revenue | $8,196 |
| 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 | $4,406,082 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $132,687 |
| Total liabilities | $5,542,872 |
| Net assets without donor restrictions | -$2,702,269 |
| 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 | $2,840,603 |