Continental Foundation
- Assets
- $3.3m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Shreveport, LA
- Founding
- 02/2000
- Data as of
- 12/2021
- EIN
- 33-0876288
Organization Overview
Continental Foundation is located in Shreveport, LA. The organization was established in 2000. 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. Continental Foundation 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 12/2021, Continental Foundation generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $2.4m during the year ending 12/2021. While expenses have increased by 7.4% per year over the past 7 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
THE PURPOSE OF THE ORGANIZATION IS TO OPERATE AND MAINTAIN LOW INCOME HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED AND MAINTAINED 200 UNITS OF LOW INCOME HOUSING IN SHREVEPORT, LOUISIANA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elinor Conroy President | OfficerTrustee | 30 | $0 |
Tabitha Hester Secretary | OfficerTrustee | 1 | $0 |
Michael J Pellegrino Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $261,882 |
| 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 | $261,882 |
| Total Program Service Revenue | $1,223,299 |
| Investment income | $10 |
| 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 | $1,485,191 |
| 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 | $285,283 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,425 |
| Payroll taxes | $91,600 |
| Fees for services: Management | $83,372 |
| Fees for services: Legal | $16,394 |
| Fees for services: Accounting | $7,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $28,053 |
| Office expenses | $68,424 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $262,585 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $239,937 |
| Insurance | $107,230 |
| All other expenses | $7,691 |
| Total functional expenses | $2,392,528 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $112,599 |
| Savings and temporary cash investments | $18,805 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $24,873 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,832,681 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $303,493 |
| Total assets | $3,292,451 |
| Accounts payable and accrued expenses | $121,032 |
| Grants payable | $0 |
| Deferred revenue | $1,584 |
| Tax-exempt bond liabilities | $5,805,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,850,000 |
| Unsecured mortgages and notes payable | $775,000 |
| Other liabilities | $457,774 |
| Total liabilities | $9,010,390 |
| Net assets without donor restrictions | $0 |
| 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 | -$5,717,939 |
| Total liabilities and net assets/fund balances | $3,292,451 |
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