Interfaith Homes Of Kalamazoo Inc
- Assets
- $3.8m
- Revenue
- $2.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Kalamazoo, MI
- Founding
- 07/1978
- Data as of
- 06/2023
- EIN
- 38-1905021
Organization Overview
Interfaith Homes Of Kalamazoo Inc is located in Kalamazoo, MI. The organization was established in 1978. 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. Interfaith Homes Of Kalamazoo 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 06/2023, Interfaith Homes Of Kalamazoo Inc generated $2.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $2.6m during the year ending 06/2023. While expenses have increased by 3.8% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HOUSING FOR LOW AND MODERATE INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING FOR LOW AND MODERATE INCOME FAMILIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carole Mcnees President | OfficerTrustee | 0.1 | $0 |
Dee Velkoff Treasurer | OfficerTrustee | 0.06 | $0 |
David F Anderson Vice Preside | OfficerTrustee | 0.04 | $0 |
Daniel Mcglinn Secretary | OfficerTrustee | 0.04 | $0 |
Artrella Cohn Director | Trustee | 0.06 | $0 |
Steven Hassevoort Director | Trustee | 0.04 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wolverine Building Group Fire Restore | 6/29/23 | $182,009 |
Lockhart Management & Consulting Management Fee | 6/29/23 | $127,923 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,013,689 |
| All other contributions, gifts, grants, and similar amounts not included above | $500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,014,189 |
| Total Program Service Revenue | $550,339 |
| Investment income | $235 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$9,706 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,622,841 |
| 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 | $539,956 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,305 |
| Payroll taxes | $40,343 |
| Fees for services: Management | $257,918 |
| Fees for services: Legal | $41,520 |
| Fees for services: Accounting | $11,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $24,544 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $934,900 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $40,687 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $214,501 |
| Insurance | $3,922 |
| All other expenses | $41,783 |
| Total functional expenses | $2,643,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,182 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28,224 |
| 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 | $214,558 |
| Net Land, buildings, and equipment | $2,776,647 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $585,881 |
| Total assets | $3,755,492 |
| Accounts payable and accrued expenses | $57,416 |
| Grants payable | $0 |
| Deferred revenue | $3,281 |
| 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 | $618,129 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $329,585 |
| Total liabilities | $1,008,411 |
| Net assets without donor restrictions | $2,747,081 |
| 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 | $3,755,492 |