Truenorth Center For Nonprofit Housing
- Assets
- $1.3m
- Revenue
- $747.5k
- Investments
- $0.0
- Employees
- 4
- Location
- Fremont, MI
- Founding
- 05/1994
- Data as of
- 12/2023
- EIN
- 38-3164047
Organization Overview
Truenorth Center For Nonprofit Housing is located in Fremont, MI. The organization was established in 1994. 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. As of 12/2023, Truenorth Center For Nonprofit Housing employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Truenorth Center For Nonprofit 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, Truenorth Center For Nonprofit Housing generated $747.5k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $811.7k during the year ending 12/2023. While expenses have increased by 6.7% 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
NCCS CNH IS A RURAL NON-PROFIT HOUSING ORGANIZATION COMMITTED TO ASSURING ALL MEMBERS OF OUR COMMUNITY HAVE ACCESS TO QUALITY AFFORDABLE HOUSING. CNH PROVIDES COUNSELING, EDUCATION, AND FINANCIAL ASSISTANCE FOR CLOSING COSTS AND RENOVATIONS TO LOW TO MODERATE INCOME FAMILIES PURCHASING A NEW HOME. CNH OWNS 114 UNITS OR RENTALS FOR LOW TO MODERATE INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING DEVELOPMENT - ASSISTING LOW INCOME FAMILIES WITH THE MAINTENANCE OF SINGLE FAMILY HOMES BY PROVIDING VALUABLE RENOVATIONS TO AN AVERAGE OF 30 FAMILIES PER YEAR. COLLABORATION WITH LOCAL MUNICIPALITIES AND OTHER AGENCIES STRENGTHENS RELATIONSHIPS IN BUILDING HEALTHY COMMUNITIES FOR ALL.
HOUSING EDUCATION - PROMOTES THE GROWTH OF COMMUNITITES BY EDUCATING PEOPLE IN UNDERSTANDING CREDIT, THE VALUE OF BUDGETING, LIVING WITHIN THEIR MEANS, THE RESPONSIBILITY OF HOMEOWNERSHIP, AND HOW TO MAKE GOOD FINANCIAL DECISIONS. WE ENCOURAGE THEM TO BE INVOLVED IN THEIR COMMUNITITES AND MOTIVATED IN MAINTAINING THEIR HOMES/APARTMENTS. COMMUNITY CLASSES INVOLVING LOCAL BUSINESSES ARE OPEN TO THE PUBLIC FREE OF CHARGE AND TRAIN PARTICIPANTS TO DO MORE FOR THEMSELVES. CNH PROVIDES FAMILIES IN THE EIGHT COUNTY SERVICE AREAS WITH FORECLOSURE PREVENTION EDUCATION AND ASSISTANCE, WHICH IS CRITICAL IN KEEPING FAMILIES IN THEIR HOMES.
RETIREMENT RENTAL - PROVIDING ELDERLY RENTERS WITH AN AFFORDABLE APARTMENT TO RENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carrie Vandenberg Past Chair | OfficerTrustee | 2.5 | $0 |
Gene Ford Vice Chair | OfficerTrustee | 0.5 | $0 |
Jane Newton Member | Trustee | 0.5 | $0 |
Jim Merkel Treasurer | OfficerTrustee | 2.5 | $0 |
Julie Berwald Secretary | OfficerTrustee | 0.5 | $0 |
Kate Scarbrough-Kesteloot Chair | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $667,882 |
| All other contributions, gifts, grants, and similar amounts not included above | $588 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $668,470 |
| Total Program Service Revenue | $67,005 |
| Investment income | $9,186 |
| 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 | $747,463 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $144,431 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $35,881 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $416 |
| Fees for services: Accounting | $3,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,029 |
| Advertising and promotion | $0 |
| Office expenses | $2,641 |
| Information technology | $13,531 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,805 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $357 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,498 |
| Insurance | $4,711 |
| All other expenses | $30,545 |
| Total functional expenses | $811,742 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $40,360 |
| Pledges and grants receivable | $235,581 |
| Accounts receivable, net | $37,469 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $587,626 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,660 |
| Net Land, buildings, and equipment | $197,480 |
| Investments—publicly traded securities | $127,567 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,857 |
| Total assets | $1,283,600 |
| Accounts payable and accrued expenses | $366,794 |
| 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 | $37,626 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,528 |
| Total liabilities | $413,948 |
| Net assets without donor restrictions | $572,563 |
| Net assets with donor restrictions | $297,089 |
| 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 | $1,283,600 |