Iccf Nonprofit Housing Corporation
- Assets
- $873.7k
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 77
- Location
- Grand Rapids, MI
- Founding
- 03/1987
- Data as of
- 05/2023
- EIN
- 38-2615690
Organization Overview
Iccf Nonprofit Housing Corporation is located in Grand Rapids, MI. The organization was established in 1987. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, under the broad grouping of Housing & Shelter and related organizations. As of 05/2023, Iccf Nonprofit Housing Corporation employed 77 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iccf 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 05/2023, Iccf Nonprofit Housing Corporation generated $3.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $3.4m during the year ending 05/2023. While expenses have increased by 7.0% 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
HOUSING CONSTRUCTION FOR QUALIFIED LOWER INCOME FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
ICCF NONPROFIT HOUSING CORPORATION IS THE CONSTRUCTION AFFILIATE OF THE ICCF COMMUNITY HOMES (ICCF). WE CONSTRUCT OR RE-CONSTRUCT 5-10 AFFORDABLE HOMES ANNUALLY. ALL REVENUE AND EXPENSE FOR THE PROGRAMS IS REPORTED IN THE PARENT, ICCF.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lee Hardy Director - Chair | OfficerTrustee | 2 | $0 |
Eunice Lopez Martin Director - Vice Chair | OfficerTrustee | 2 | $0 |
Arlen-Dean Gaddy Director - Secretary | OfficerTrustee | 2 | $0 |
Janice Dorsey Director | Trustee | 1 | $0 |
Devetta Blakely Director | Trustee | 1 | $0 |
Ryan Verwys CEO | Officer | 8 | $139,434 |
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 | $3,414,460 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$375 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,414,085 |
| 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. | $267,622 |
| Compensation of current officers, directors, key employees. | $267,622 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,584,700 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $238,269 |
| Fees for services: Management | $0 |
| 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 | $270 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,664 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,418,894 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,757 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $31,898 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $800,064 |
| Total assets | $873,719 |
| Accounts payable and accrued expenses | $2,055 |
| 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 | $381,483 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $169,603 |
| Total liabilities | $553,141 |
| Net assets without donor restrictions | $320,578 |
| 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 | $873,719 |
Grants Awarded
Over the last fiscal year, Iccf Nonprofit Housing Corporation has awarded $984,336 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ICCF HOMES LLC PURPOSE: TO PROVIDE AFFORDABLE AND HIGH QUALITY HOUSING TO PERSONS OF LOW AND MODERATE INCOME. | $793,218 |
ICCF HOMES 2 LLC PURPOSE: TO PROVIDE AFFORDABLE AND HIGH QUALITY HOUSING TO PERSONS OF LOW AND MODERATE INCOME. | $191,118 |