Lifeworks Affordable Housing Corporation
- Assets
- $8.7m
- Revenue
- $864.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Austin, TX
- Founding
- 05/2001
- Data as of
- 09/2021
- EIN
- 31-1753071
Organization Overview
Lifeworks Affordable Housing Corporation is located in Austin, TX. The organization was established in 2001. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lifeworks Affordable Housing Corporation 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 09/2021, Lifeworks Affordable Housing Corporation generated $864.5k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 19.2% each year . All expenses for the organization totaled $715.1k during the year ending 09/2021. While expenses have increased by 15.9% per year over the past 5 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION COMPLETED THE CONSTRUCTION OF AN APARTMENT DEVELOPMENT FOR LOW-INCOME RESIDENTS. FUNDS ARE USED FOR OPERATING COSTS OF THE DEVELOPMENT, INCLUDING INTEREST, FEES AND MAINTENANCE COSTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sara Canaday Board Member | 1 | $0 | |
Susan Mcdowell Executive Director | 1 | $0 | |
Larry Greenberg Board Member | 1 | $0 | |
Jim Hopke Board Member | 1 | $0 | |
Franklin Fisher Board Member | 1 | $0 | |
Al Lopez Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $229,626 |
| Interest on Savings | $21 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $634,804 |
| Total Revenue | $864,451 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $80,641 |
| Pension plans, employee benefits | $10,250 |
| Interest | $0 |
| Taxes | $38,657 |
| Depreciation | $185,831 |
| Occupancy | $119,627 |
| Travel, conferences, and meetings | $2,847 |
| Printing and publications | $0 |
| Other expenses | $197,464 |
| Total operating and administrative expenses | $715,128 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $715,128 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $352,349 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $79,763 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $8,283,329 |
| Other assets | $0 |
| Total assets | $8,715,441 |
| Accounts payable and accrued expenses | $460,086 |
| Grants payable | $0 |
| Deferred revenue | $25,621 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $7,185,876 |
| Other liabilities | $12,348 |
| Total liabilities | $7,683,931 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lifeworks Affordable Housing Corporation has recieved totaling $100,000.
| Awarding Organization | Amount |
|---|---|
United Way For Greater Austin Austin, TX PURPOSE: ALL TOGETHER ATX | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Health Presbyterian Hospital Kaufman Kaufman, TX | $17,114,303 | $46,511,695 |
Crossroads Housing Development Corporation Big Spring, TX | $1,430,723 | $31,698,100 |
Foundation Communities Inc Austin, TX | $201,792,213 | $44,085,347 |
Austin Affordable Housing Corporation Austin, TX | $189,492,836 | $40,972,198 |
Foundation Communities Austin, TX | $78,215,940 | $25,689,954 |
Tcc Hill Country Development Corporation Austin, TX | $11,234,408 | $22,073,361 |
Provident Commonwealth Education Resources Baton Rouge, LA | $142,254,594 | $7,390,935 |
Provident Commonwealth Education Resources Ii Baton Rouge, LA | $154,926,817 | $6,407,611 |
Houston Habitat For Humanity Inc Houston, TX | $36,979,256 | $11,315,347 |
Avenue Community Development Coporation Houston, TX | $81,189,118 | $11,542,239 |
Habitat For Humanity International Inc Fort Worth, TX | $28,701,953 | $17,323,879 |
Habitat For Humanity Of San Antonio Inc San Antonio, TX | $33,828,773 | $14,274,594 |