Westown Jubilee Housing
- Assets
- $791.6k
- Revenue
- $276.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Grand Rapids, MI
- Founding
- 08/1993
- Data as of
- 12/2023
- EIN
- 38-3066116
Organization Overview
Westown Jubilee Housing is located in Grand Rapids, MI. The organization was established in 1993. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Westown Jubilee Housing employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westown Jubilee Housing 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, Westown Jubilee Housing generated $276.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $280.1k during the year ending 12/2023. While expenses have increased by 2.8% per year over the past 9 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
TO STABILIZE OUR CORE CITY COMMUNITY ONE HOMEOWNER AT A TIME, TO PROVIDE A NEW BEGINNING, AND GIVE GREATER GLORY TO OUR GOD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINING 24 AFFORDABLE RENTAL UNITS AS LANDLORDS AND REHABBING AN AFFORDABLE HOME FOR A FAMILY BELOW MARKET VALUE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Esseltine Trustee | Trustee | 1 | $0 |
Shirley Fleishmann Trustee | Trustee | 1 | $0 |
Daniel Cavanaugh Trustee | Trustee | 1 | $0 |
Phil Vankampen President | OfficerTrustee | 1 | $0 |
Jeff Vredeveld Executive Director | Officer | 40 | $66,700 |
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 | $38,208 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,208 |
| Total Program Service Revenue | $238,356 |
| Investment income | $0 |
| 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 | $276,766 |
| 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. | $66,700 |
| Compensation of current officers, directors, key employees. | $14,674 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $63,375 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,890 |
| Payroll taxes | $9,082 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $174 |
| Office expenses | $2,069 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $36,647 |
| Travel | $309 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $19,198 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $17,607 |
| Insurance | $12,076 |
| All other expenses | $1,763 |
| Total functional expenses | $280,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,340 |
| Savings and temporary cash investments | $942 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,221 |
| Loans from Officers, Directors, or Controlling Persons | $129,902 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $271,996 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $302,025 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $166 |
| Total assets | $791,592 |
| Accounts payable and accrued expenses | $9,206 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $9,208 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $255,168 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $273,582 |
| Net assets without donor restrictions | $518,010 |
| 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 | $791,592 |