Dwelling Place Of Grand Rapids Nonprofit Housing Corporation
- Assets
- $58.1m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 105
- Location
- Grand Rapids, MI
- Founding
- 05/1982
- Data as of
- 12/2023
- EIN
- 38-2313832
Organization Overview
Dwelling Place Of Grand Rapids Nonprofit Housing Corporation is located in Grand Rapids, MI. The organization was established in 1982. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Dwelling Place Of Grand Rapids Nonprofit Housing Corporation employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dwelling Place Of Grand Rapids Nonprofit Housing 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 12/2023, Dwelling Place Of Grand Rapids Nonprofit Housing Corporation generated $5.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $6.4m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Dwelling Place Of Grand Rapids Nonprofit Housing Corporation has awarded 35 individual grants totaling $1,279,523. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF DWELLING PLACE IS TO IMPROVE THE LIVES OF PEOPLE BY CREATING QUALITY AFFORDABLE HOUSING, PROVIDING ESSENTIAL SUPPORT SERVICES AND SERVING AS A CATALYST FOR NEIGHBORHOOD REVITALIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DWELLING PLACE PROVIDES AFFORDABLE RENT RESTRICTED HOUSING TO OVER1,462 LOW INCOME HOUSEHOLDS IN WEST MICHIGAN, ASSISTS HOUSEHOLDS INACCESSING SUPPORT SERVICES WHEN REQUESTED, AND OPERATES COMMUNITY AND ECONOMIC DEVELOPMENT PROGRAMS IN THE AREA. DWELLING PLACE LEASES OVER 40 COMMERCIAL SPACES. DURING 2023, DWELLING PLACE CONTINUED ITS DEVELOPMENT ACTIVITYIN SEVERAL PROJECTS.DURING 2023 DWELLING PLACE CONTINUED THE PROCESS OF RESYNDICATION FOR FOUR PROPERTIES. WESTON APARTMENTS, WHICH CONSISTS OF 190 UNITS, VERNE BARRY APARTMENTS WHICH CONSISTS OF 116 UNITS, AND ELMDALE APARTMENTS WHICH CONSISTS OF 19 UNITS ALL LOCATED IN THE CITY OF GRAND RAPIDS. ADDITIONALLY, VILLA ESPERANZA CONSISTS OF 40 UNITS LOCATED IN THE CITY OF WYOMING. KOLLEN PARK, A NEW CONSTRUCTION 52 UNIT PROJECT IN THE CITY OF HOLLAND WAS SUBMITTED TO MSHDA FOR LIHTC AWARDS IN 2023.
DWELLING PLACE OF GRAND RAPIDS PROVIDES SUPPORT SERVICES, INCLUDINGCASE MANAGEMENT, TO LOW INCOME AND SINGLE PARENT HOUSEHOLDS. DURING2023, DWELLING PLACE SUPPORT SERVICES WERE AVAILABLE TO OVER 1,100 INDIVIDUALSRESIDING IN 14 OF ITS RENTAL LOCATIONS. SUPPORT SERVICES PROVIDESRESOURCES TO INDIVIDUALS ONE ON ONE AND HAVE MANY LIFE SKILL CLASSESAND COURSES THAT RESIDENTS CAN ATTEND. SOME EXAMPLES INCLUDE A STRONGBONE CLASS, NUTRITIONAL AND COOKING CLASSES, DIABETES PREVENTION ANDEMPLOYMENT SKILLS CLASSES.
DWELLING PLACE PROVIDES NEIGHBORHOOD REVITALIZATION ALONG SIDE COMMUNITY BUILDING AND ENGAGEMENT EFFORTS TO ENHANCE COMMUNITY, STREETSCAPES, PARKS AND ENCOURAGE LOCAL BUSINESS DEVELOPMENT EFFORTS. TO FURTHER OUR EFFORTS IN COMMUNITY SUPPORT, DWELLING PLACE SUPPORTS RESIDENT LEADERSHIP, LIFESKILLS, ARTS AND GARDENING INITIATIVES IN COMMUNITIES WE SERVE. IN ADDITION TO OUR ONGOING AND NEW HOUSING AND DEVELOPMENT ACTIVITIES, DWELLING PLACE IS FREQUENTLY CALLED ON TO MAKE PRESENTATIONS AND TO CONSULT WITH OTHER COMMUNITY DEVELOPMENT CORPORATIONS THAT ARE EXPLORING THE DEVELOPMENT OF VARIOUS HOUSING AND NEIGHBORHOOD REVITALIZATION PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Juan Daniel Castro Board Member | OfficerTrustee | 1 | $0 |
Sadie Malady Former Treasurer | OfficerTrustee | 1 | $0 |
Renee Williams Board Member | Trustee | 1 | $0 |
Angie Sanborn Board Member | Trustee | 1 | $0 |
Kyle Irwin Board Member | Trustee | 1 | $0 |
Lee Nelson Weber Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $58,925 |
| Related organizations | $70,514 |
| Government grants | $441,559 |
| All other contributions, gifts, grants, and similar amounts not included above | $562,135 |
| Noncash contributions included in lines 1a–1f | $10,656 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,133,133 |
| Total Program Service Revenue | $3,209,758 |
| Investment income | $837,768 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $721,712 |
| Net Income from Fundraising Events | -$2,598 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,899,773 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,500 |
| 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. | $908,318 |
| Compensation of current officers, directors, key employees. | $486,030 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,499,006 |
| Pension plan accruals and contributions | $89,581 |
| Other employee benefits | $319,730 |
| Payroll taxes | $295,262 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $92,420 |
| Fees for services: Accounting | $74,770 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $312,150 |
| Advertising and promotion | $20,383 |
| Office expenses | $116,645 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $648,275 |
| Travel | $30,628 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $140,838 |
| Interest | $43,055 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $404,948 |
| Insurance | $49,306 |
| All other expenses | $1,330 |
| Total functional expenses | $6,383,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,721,441 |
| Savings and temporary cash investments | $3,470,964 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,112,266 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $19,336,489 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $64,668 |
| Net Land, buildings, and equipment | $7,320,258 |
| Investments—publicly traded securities | $11,891,591 |
| Investments—other securities | $0 |
| Investments—program-related | $8,162,382 |
| Intangible assets | $291,000 |
| Other assets | $2,751,871 |
| Total assets | $58,122,930 |
| Accounts payable and accrued expenses | $586,767 |
| Grants payable | $0 |
| Deferred revenue | $38,302 |
| 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 | $5,022,852 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,767,121 |
| Total liabilities | $9,415,042 |
| Net assets without donor restrictions | $48,084,444 |
| Net assets with donor restrictions | $623,444 |
| 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 | $58,122,930 |
Grants Awarded
Over the last fiscal year, Dwelling Place Of Grand Rapids Nonprofit Housing Corporation has awarded $395,064 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
HEARTSIDE NONPROFIT HOUSING CORPORATION PURPOSE: TO SUPPORT OPERATIONS FOR LOW-INCOME HOUSING | $8,500 |
DWELLING PLACE REGIONAL COMMUNITY LAND TRUST PURPOSE: START UP GRANTS | $386,564 |