Heartside Non-Profit Housing Corporation
- Assets
- $16.7m
- Revenue
- $831.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 05/1996
- Data as of
- 12/2021
- EIN
- 38-2600226
Organization Overview
Heartside Non-Profit Housing Corporation is located in Grand Rapids, MI. The organization was established in 1996. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heartside Non-Profit 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 12/2021, Heartside Non-Profit Housing Corporation generated $831.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. While expenses have increased by 14.5% per year over the past 7 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.
Since 2015, Heartside Non-Profit Housing Corporation has awarded 22 individual grants totaling $3,800,317. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZED EXCLUSIVELY TO PROVIDE HOUSING FACILITIES FOR PERSONS OF LOW AND MODERATE INCOME AND TO CARRY ON ANY BUSINESS IN CONNECTION THEREWITH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP AND OPERATE RESIDENTIAL HOUSING FOR LOW AND MODERATE INCOME INDIVIDUALS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lee Nelson Weber Secretary | OfficerTrustee | 1 | $0 |
Dennis Sturtevant Former President | OfficerTrustee | 1 | $0 |
Juan Daniel Castro Vice President | OfficerTrustee | 1 | $0 |
Sadie Malady Treasurer | OfficerTrustee | 0.5 | $0 |
Jeremy Deroo President | OfficerTrustee | 1 | $0 |
Steve Recker Chief Finance Officer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $468,783 |
| 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 | $468,783 |
| Total Program Service Revenue | $226,060 |
| Investment income | $136,680 |
| 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 | $831,523 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $882,386 |
| 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 | $54,905 |
| Fees for services: Legal | $4,779 |
| Fees for services: Accounting | $7,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $696 |
| Advertising and promotion | $0 |
| Office expenses | $2,301 |
| Information technology | $2,339 |
| Royalties | $0 |
| Occupancy | $40,810 |
| Travel | $41 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $55 |
| Interest | $32,553 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $232,928 |
| Insurance | $16,418 |
| All other expenses | $42,266 |
| Total functional expenses | $1,320,077 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $142,576 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,122 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,118,394 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,332 |
| Net Land, buildings, and equipment | $4,166,411 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $3,274,137 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,707,972 |
| Accounts payable and accrued expenses | $70,330 |
| Grants payable | $0 |
| Deferred revenue | $5,748 |
| 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 | $1,540,968 |
| Total liabilities | $1,617,046 |
| Net assets without donor restrictions | $15,090,926 |
| 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 | $16,707,972 |
Grants Awarded
Over the last fiscal year, Heartside Non-Profit Housing Corporation has awarded $882,383 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Grand Rapids, MI PURPOSE: TO ASSIST DWELLING PLACE OF GRAND RAPIDS IN PROVIDING LOW INCOME HOUSING. | $311,374 |
HERKIMER COMMERCE LIMITED DIVIDEND HOUSING ASSOCIATION PURPOSE: TO ASSIST HERKIMER COMMERCE LDHA IN PROVIDING LOW INCOME HOUSING. | $255,871 |
Grand Rapids, MI PURPOSE: TO ASSIST DP COMMUNITY LAND TRUST IN PROVIDING LOW INCOME HOUSING | $168,600 |
KBC LIMITED DIVIDEND HOUSING ASSOCIATION PURPOSE: TO ASSIST KBC LIMITED DIVIDEND HOUSING ASSOCIATION IN PROVIDING LOW INCOME HOUSING. | $146,538 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Heartside Non-Profit Housing Corporation has recieved totaling $7,000.
| Awarding Organization | Amount |
|---|---|
Dwelling Place Of Grand Rapids Nonprofit Housing Corporation Grand Rapids, MI PURPOSE: GRANT FROM DWELLING PLACE TO COVER AUDIT FEES | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Housing Network Inc Columbus, OH | $58,364,637 | $14,874,820 |
Ho-Chunk Housing And Community Development Agency Tomah, WI | $18,849,800 | $12,706,218 |
Iccf Community Home Grand Rapids, MI | $56,991,774 | $12,188,676 |
Over The Rhine Community Housing Cincinnati, OH | $24,358,276 | $7,722,304 |
Hudsonville Christian School Hudsonville, MI | $18,424,541 | $13,917,128 |
Lacasa Of Goshen Inc Goshen, IN | $26,643,418 | $6,732,087 |
Dwelling Place Of Grand Rapids Nonprofit Housing Corporation Grand Rapids, MI | $53,298,449 | $7,853,634 |
Creative Housing Inc Columbus, OH | $43,851,773 | $5,323,506 |
Harbor House Ministries Jenison, MI | $5,031,278 | $3,994,152 |
Regina Manor Apartments Inc Toledo, OH | $0 | $7,363 |
Preservation Housing Partners Bloomfield Hills, MI | $17,748,211 | $4,586,755 |
3700 Green Tree Corporation Milwaukee, WI | $10,160,568 | $2,809,473 |