Oakland Housing Inc
- Assets
- $9.7m
- Revenue
- $158.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Birmingham, MI
- Founding
- 08/1938
- Data as of
- 06/2023
- EIN
- 38-0888880
Organization Overview
Oakland Housing Inc is located in Birmingham, MI. The organization was established in 1938. 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 06/2023, Oakland Housing Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oakland Housing Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2023, Oakland Housing Inc generated $158.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $478.4k during the year ending 06/2023. 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
HOUSING ASSISTANCE FOR MIDDLE INCOME FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OVERALL PURPOSE OF THE ORGANIZATION IS TO ASSIST REGULARLY EMPLOYED FAMILY UNITS IN THE ACQUISITION OF LIVING ACCOMMODATIONS IN A RURAL,SUBURBAN OR CITY ENVIRONMENT WHEREIN BECAUSE OF FINANCIAL LIMITATIONS, THE HOUSING NEEDS OF SUCH FAMILY UNITS ARE NOT BEING SATISFACTORILY MET IN THE CURRENT MARKET PLACE. THE ORGANIZATION ASKS FOR A MINIMUM DOWNPAYMENT WITH MONTHLY LAND CONTRACT/MORTGAGE PAYMENTS. SINCE INCEPTION, THE ORGANIZATION HAS COMPLETED 7 SUCH HOUSING PROJECTS WITH SALES PRICES EXCEEDING 13,000,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Baker Executive Di | Trustee | 40 | $143,757 |
Linda Braden Assistant Se | Officer | 22.5 | $70,738 |
Adam Clous Board Member | Trustee | 2 | $0 |
Susan Diehl Board Member | OfficerTrustee | 2 | $0 |
Sandy Duncan Treasurer | Trustee | 2 | $0 |
Stacy Esbrook Board Member | Trustee | 2 | $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 | $108,427 |
| Investment income | $80,110 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$30,371 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $158,166 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,600 |
| 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 | $214,495 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,897 |
| Payroll taxes | $16,704 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,920 |
| Fees for services: Accounting | $15,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,357 |
| Office expenses | $10,445 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,745 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,419 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $597 |
| Insurance | $13,249 |
| All other expenses | $16,384 |
| Total functional expenses | $478,386 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,258 |
| Savings and temporary cash investments | $96,705 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $198 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $34,406 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,615 |
| Net Land, buildings, and equipment | $1,153 |
| Investments—publicly traded securities | $6,868,274 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,581,546 |
| Total assets | $9,670,155 |
| Accounts payable and accrued expenses | $38,375 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $38,375 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $600 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $9,631,180 |
| Total liabilities and net assets/fund balances | $9,670,155 |