National Faith Homebuyers
- Assets
- $1.3m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 01/1999
- Data as of
- 06/2021
- EIN
- 38-3302761
Organization Overview
National Faith Homebuyers is located in Detroit, MI. The organization was established in 1999. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, 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. National Faith Homebuyers 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 06/2021, National Faith Homebuyers generated $1.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $959.4k during the year ending 06/2021. 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
THE ORGANIZATION MISSION IS TO PROVIDE FAMILIES THE INFORMATION AND TOOLS FOR FIRST TIME HOME OWNERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DOWNPAYMENT ASSISTANCE PROGRAM THROUGH WAYNE COUNTY
HOMEBUYING SEMINARS AND COUNSELING PROGRAM.
VETERANS CARES PROGRAM ASSITING 123 VETERANS FAMILIES WITH COUNSELING, TEMPORARY AND PERMANENT HOMES.
DOWNPAYMENT ASSISTANCE PROGRAM THROUGH WAYNE COUNTY
HOMEBUYING SEMINARS AND COUNSELING PROGRAM.
VETERANS CARES PROGRAM ASSITING 123 VETERANS FAMILIES WITH COUNSELING, TEMPORARY AND PERMANENT HOMES.
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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 | $528,000 |
| Noncash contributions included in lines 1a–1f | $384,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $528,000 |
| Total Program Service Revenue | $633,781 |
| 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 | $1,253,768 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $711,672 |
| Fees for services: Legal | $6,500 |
| Fees for services: Accounting | $10,797 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,270 |
| Advertising and promotion | $11,734 |
| Office expenses | $20,539 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $146,831 |
| Travel | $781 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,393 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $23,844 |
| All other expenses | $0 |
| Total functional expenses | $959,361 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $186,235 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,154,079 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,341,314 |
| Accounts payable and accrued expenses | $16,852 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $496,718 |
| Other liabilities | $0 |
| Total liabilities | $513,570 |
| Net assets without donor restrictions | $697,317 |
| Net assets with donor restrictions | $130,427 |
| 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 | $1,341,314 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that National Faith Homebuyers has recieved totaling $190,825.
| Awarding Organization | Amount |
|---|---|
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $100,000 |
Homefree Usa Inc Landover, MD PURPOSE: Property purchased for renovation and sale ot low and moderate income potential home owners. | $36,075 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $25,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $24,750 |
Comerica Charitable Foundation Detroit, MI PURPOSE: FINANCIAL EDUCATION AND COUNSELING | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Energy Services Inc Madison, WI | $8,275,764 | $17,473,845 |
Heat And Warmth Fund Detroit, MI | $15,314,443 | $15,272,567 |
Neighborhood Housing Services Of Toledo Inc Toledo, OH | $12,631,816 | $6,150,831 |
Cincinnati Development Fund Inc Cincinnati, OH | $54,993,767 | $6,552,988 |
Project Home Inc Madison, WI | $5,333,055 | $4,173,429 |
National Faith Homebuyers Detroit, MI | $1,341,314 | $1,253,768 |
Wisconsin Native Loan Fund Inc Lac Du Flambeau, WI | $5,661,202 | $1,436,627 |
Hope Of Evansville Inc Evansville, IN | $1,278,111 | $550,592 |
Northland Homes And Properties Inc Marion, OH | $2,724,722 | $556,881 |
United Neighborhoods Inc Hammond, IN | $1,715,145 | $339,107 |
Indiana Utility Rate Payer Tr Muncie, IN | $7,480,897 | $294,604 |
Troy Community Works Corporation Troy, OH | $3,024,106 | $346,707 |