Bgc I Nonprofit Housing Corporation
- Assets
- $4.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Okemos, MI
- Founding
- 03/1993
- Data as of
- 12/2021
- EIN
- 38-3080446
Organization Overview
Bgc I Nonprofit Housing Corporation is located in Okemos, MI. The organization was established in 1993. 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. Bgc I 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 12/2021, Bgc I Nonprofit Housing Corporation generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $1.5m during the year ending 12/2021. While expenses have increased by 1.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AND PRESERVE HOUSING FACILITIES FOR PERSONS AND FAMILIES OF LOW INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BGC-I PROVIDES 152 RENTAL UNITS TO PERSONS OF LOW TO MODERATE INCOME. THE ORGANIZATION ALSO PROVIDES SOCIAL AND RECREATIONAL FACILITIES TO SERVE THE RESIDENTIAL AREA.
INCOME FROM BGC-I WILL BE USED TO BENEFIT ACTIVITIES OF THE BOYS AND GIRLS CLUB OF LANSING TO THE EXTENT THAT THOSE ACTIVITIES ARE CONSISTENT WITH THE EXEMPT PURPOSE OF BGC-CHARTER SQUARE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laurie Schwartz Treasurer | OfficerTrustee | 1 | $0 |
Richard Kerbawy President | OfficerTrustee | 1 | $0 |
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 | $1,629,427 |
| Investment income | $244 |
| 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 | $1,629,671 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $103,125 |
| 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 | $87,552 |
| Fees for services: Legal | $3,101 |
| Fees for services: Accounting | $9,743 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $180,287 |
| Advertising and promotion | $0 |
| Office expenses | $42,541 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $216,408 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $161,865 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $359,804 |
| Insurance | $153,514 |
| All other expenses | $0 |
| Total functional expenses | $1,451,157 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $250 |
| Savings and temporary cash investments | $765,857 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,628 |
| 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 | $29,010 |
| Net Land, buildings, and equipment | $2,091,123 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,265,101 |
| Total assets | $4,159,969 |
| Accounts payable and accrued expenses | $120,855 |
| Grants payable | $0 |
| Deferred revenue | $9,813 |
| 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 | $5,944,423 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $38,909 |
| Total liabilities | $6,114,000 |
| Net assets without donor restrictions | -$1,954,031 |
| 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 | $4,159,969 |
Grants Awarded
Over the last fiscal year, Bgc I Nonprofit Housing Corporation has awarded $44,265 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Lansing, MI PURPOSE: TO PROVIDE SUPPORT IN THEIR DAY TO DAY ACTIVITIES. | $31,667 |
Midland, MI PURPOSE: TO PROVIDE SUPPORT IN THEIR DAY TO DAY ACTIVITIES. | $12,598 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cinnaire Corporation Cinnaire Lansing, MI | $74,619,323 | $21,850,720 |
Bethany Housing Ministries Inc Muskegon, MI | $4,087,536 | $16,635,219 |
Milwaukee Habitat For Humanity Milwaukee, WI | $24,987,795 | $20,382,762 |
Habitat For Humanity International Inc Cincinnati, OH | $19,861,311 | $21,403,808 |
Buckeye Community Hope Foundation Columbus, OH | $50,429,521 | $11,276,532 |
Caracole Inc Cincinnati, OH | $7,131,053 | $11,567,326 |
Taylor Community Development Corp Taylor, MI | $29,334,174 | $14,242,807 |
Habitat For Humanity International Inc Indianapolis, IN | $27,221,776 | $14,208,425 |
Western Reserve Revitalization & Management Co Cleveland, OH | $81,496,475 | $17,708,509 |
Affordable Housing Partners Inc Carmel, IN | $150,650,716 | $9,214,618 |
Famicos Foundation Inc Cleveland, OH | $56,363,268 | $13,331,115 |
Mht Housing Inc Bingham Farms, MI | $103,750,395 | $19,352,676 |