Knox County Rural Housing Finance Corporation
- Assets
- $1.3m
- Revenue
- $252.5k
- Investments
- $0.0
- Employees
- 5
- Location
- Oaktown, IN
- Founding
- 07/1993
- Data as of
- 12/2021
- EIN
- 35-1859802
Organization Overview
Knox County Rural Housing Finance Corporation is located in Oaktown, IN. The organization was established in 1993. 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 12/2021, Knox County Rural Housing Finance Corporation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knox County Rural Housing Finance 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 12/2021, Knox County Rural Housing Finance Corporation generated $252.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $405.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 7 years. 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
CONSTRUCT AND MANAGE LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATIONAL COSTS FOR APARTMENTS IN OAKTOWN, MONROE CITY, AND BICKNELL FOR LOW INCOME CLIENTS AND LOW INCOME ELDERLY CLIENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Spidel Vice President | Officer | 1 | $3,952 |
William Powell President | Officer | 1 | $0 |
Theresa Burress Treasurer | Officer | 3 | $0 |
Tammy Davis Director | Trustee | 1 | $0 |
Johnny Stephens Director | Trustee | 1 | $0 |
Charlotte Sturgeon 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $246,383 |
| Investment income | $6 |
| 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 | $252,491 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500 |
| 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. | $3,952 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $83,440 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,535 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,739 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,798 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,158 |
| Travel | $2,178 |
| 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 | $163,464 |
| Insurance | $39,132 |
| All other expenses | $2,650 |
| Total functional expenses | $405,397 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,741 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $509 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,234,286 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $262 |
| Total assets | $1,302,798 |
| Accounts payable and accrued expenses | $31,159 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $695,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $726,159 |
| Net assets without donor restrictions | $576,639 |
| 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 | $1,302,798 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Knox County Rural Housing Finance Corporation has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
The Goldie L & Lillian Trabant Uw Birmingham, AL PURPOSE: GENERAL OPERATING | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Gene B Glick Family Housing Foundation Inc Indianapolis, IN | $374,839,062 | $69,361,551 |
Nef Community Investments Inc Chicago, IL | $49,835,744 | $69,249,511 |
Resurrection Project Chicago, IL | $50,016,508 | $28,523,400 |
Elevate Housing Foundation Lincolnwood, IL | $28,372,310 | $19,775,453 |
Integrated Community Services Inc Green Bay, WI | $950,571 | $23,339,700 |
Community Investment Corp Chicago, IL | $332,682,140 | $31,622,758 |
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Affordable Housing Development Fund Inc Rockford, IL | $87,465,066 | $18,557,415 |
Chicago Low Income Housing Trust Fund Chicago, IL | $68,435,328 | $24,410,244 |
Interfaith Housing Development Corporation Of Chicago Chicago, IL | $13,790,371 | $15,355,980 |
European American Association Chicago, IL | $18,209,689 | $14,984,488 |
Milwaukee Habitat For Humanity Milwaukee, WI | $24,987,795 | $20,382,762 |