Area Iv Development Inc
- Assets
- $23.5m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Lafayette, IN
- Founding
- 09/1998
- Data as of
- 12/2021
- EIN
- 35-2048630
Organization Overview
Area Iv Development Inc is located in Lafayette, IN. The organization was established in 1998. According to its NTEE Classification (L80) the organization is classified as: Housing Support, 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. Area Iv Development Inc 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, Area Iv Development Inc generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 45.6% each year . All expenses for the organization totaled $2.5m during the year ending 12/2021. 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
PROVIDE COMMUNITY ECONOMIC DEVELOPMENT AND AFFORDABLE HOUSING PROJECTS THAT WILL DIRECTLY BENEFIT LOW AND MODERATE INCOME PERSONS, OLDER ADULTS PHYSICALLY AND MENTALLY DISABLED PERSONS, HOMELESS PERSONS AND SPECIAL NEEDS POPULATIONS IN MID-NORTHWESTERN INDIANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING - IN 2021, AREA IV DEVELOPMENT, INC. VERIFIED COMPLIANCE ON CURRENT PROJECTS AND IS LOOKING FOR PROPERTY FOR THE NEXT COUPLE OF PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elva James President | OfficerTrustee | 3 | $107,368 |
Theresa Bradley Controller | Officer | 3 | $73,376 |
David Rosenthol Secretary | OfficerTrustee | 0.25 | $0 |
Dawn Layton Director | Trustee | 0.25 | $0 |
Sherry Fischer Director | Trustee | 0.25 | $0 |
Julie Gutwein Director | Trustee | 0.25 | $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 | $1,309,408 |
| Investment income | $1,096 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $557,556 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,868,060 |
| 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 | $381,586 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $676,747 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $299,349 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,101,319 |
| Insurance | $0 |
| All other expenses | $44,635 |
| Total functional expenses | $2,503,636 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $444,099 |
| Savings and temporary cash investments | $1,777,013 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,935 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $266,574 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $245,589 |
| Net Land, buildings, and equipment | $20,757,029 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,497,239 |
| Accounts payable and accrued expenses | $323,587 |
| Grants payable | $0 |
| Deferred revenue | $1,950,331 |
| 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 | $3,586,467 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $401,972 |
| Total liabilities | $6,262,357 |
| Net assets without donor restrictions | $17,234,882 |
| 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 | $23,497,239 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Area Iv Development Inc has recieved totaling $374,602.
| Awarding Organization | Amount |
|---|---|
Area Iv Agency On Aging And Community Action Programs Inc Lafayette, IN PURPOSE: Aging Services | $374,602 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Contacts Inc Elgin, IL | $3,819,582 | $12,869,082 |
New Directions Housing Corporation Louisville, KY | $27,737,851 | $9,868,214 |
Chicago Metropolitan Housing Development Corporation Chicago, IL | $46,092,100 | $7,394,940 |
Partners For Community Development Inc Sheboygan, WI | $8,253,882 | $7,968,342 |
West Chicago Preservation Corp Chicago, IL | $9,151,204 | $2,715,959 |
Cedar Lake Residences Inc Louisville, KY | $2,301,086 | $7,918,008 |
Ahepa Affordable Housing Management Company Inc Fishers, IN | $29,875,447 | $8,886,631 |
Justine Petersen Housing And Reinvestment Corporation Saint Louis, MO | $49,338,747 | $7,649,655 |
Bridge Communities Inc Glen Ellyn, IL | $16,127,143 | $5,545,489 |
Appalachian Foothills Housing Agency Incorporated Wurtland, KY | $1,707,535 | $4,881,556 |
Housing Resources Inc Milwaukee, WI | $1,278,452 | $4,218,125 |
Single Room Housing Assistance Corporation Chicago, IL | $3,160,828 | $3,665,963 |