Linc Up Nonprofit Housing Corporation
- Assets
- $10.7m
- Revenue
- $1.5m
- Investments
- $469.9k
- Employees
- 25
- Location
- Grand Rapids, MI
- Founding
- 11/2000
- Data as of
- 12/2021
- EIN
- 38-3537915
Organization Overview
Linc Up Nonprofit Housing Corporation is located in Grand Rapids, MI. The organization was established in 2000. According to its NTEE Classification (L02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Linc Up Nonprofit Housing Corporation employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Linc Up 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, Linc Up Nonprofit Housing Corporation generated $1.5m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 7 years. 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
STIMULATE COMMUNITY REVITALIZATION THROUGH PROVIDING QUALITY AFFORDABLE HOUSING IN KENT COUNTY, MICHIGAN FOR PERSONS OF LOW AND MODERATE INCOME, THROUGH OTHER HOMEOWNER ASSISTANCE, THROUGH COMMUNITY ORGANIZING, AND COMMERCIAL DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAIN AND OPERATE LOW INCOME RENTAL PROPERTIES. LINC OWNS AND MANAGES APPROXIMATELY 100 RESIDENTIAL RENTAL UNITS THAT ARE AVAILABLE TO FAMILIES AT OR BELOW 50% AMI. ACQUISITION, DEVELOPMENT AND RESALE COSTS FOR ACQUIRING AND SELLING LOW INCOME HOMES. LINC PURCHASES, RENOVATES AND SELLS SINGLE FAMILY HOMES TO LOW INCOME FAMILIES. PROPERTY IMPROVEMENTS, IMPROVE ENERGY EFFICIENCY OF HOMES AND REMOVE ENVIRONMENTAL HAZARDS SUCH AS LEAD PAINT. FAMILIES OFTEN RECEIVE DOWN PAYMENT ASSISTANCE WITH THE ACQUISITION OF THE PROPERTY. COMMUNITY DEVELOPMENT AND LEADERSHIP PROGRAM. OTHER MISCELLANEOUS COSTS THAT ARE FOR THE BENEFIT OF ALL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Rosema Chair | OfficerTrustee | 4 | $0 |
Jorge Gonzalez Vice Chair | OfficerTrustee | 2 | $0 |
Tracey Brame Secretary | OfficerTrustee | 4 | $0 |
Lee Nelson Weber Treasurer | OfficerTrustee | 2 | $0 |
Jeremy Deroo Executive Director - Part Year | OfficerTrustee | 50 | $0 |
Lakiya Jenkins Executive Director | Officer | 50 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $942 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $636,533 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $637,475 |
| Total Program Service Revenue | $480,435 |
| Investment income | $125,319 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $21,280 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,506,390 |
| 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 | $1,107,192 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $204,057 |
| Payroll taxes | $80,492 |
| Fees for services: Management | $21,669 |
| Fees for services: Legal | $2,635 |
| Fees for services: Accounting | $4,032 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $195,063 |
| Advertising and promotion | $19,534 |
| Office expenses | $89,071 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,000 |
| Travel | $21,904 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $52,061 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $347,655 |
| Insurance | $42,119 |
| All other expenses | $0 |
| Total functional expenses | $2,556,101 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $724,412 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $435,000 |
| Accounts receivable, net | $845,645 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,311,502 |
| Inventories for sale or use | $624,482 |
| Prepaid expenses and deferred charges | $12,038 |
| Net Land, buildings, and equipment | $6,317,038 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $469,905 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,740,022 |
| Accounts payable and accrued expenses | $416,623 |
| 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 | $1,032,585 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,449,208 |
| Net assets without donor restrictions | $8,393,865 |
| Net assets with donor restrictions | $896,949 |
| 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 | $10,740,022 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Linc Up Nonprofit Housing Corporation has recieved totaling $380,375.
| Awarding Organization | Amount |
|---|---|
Grand Rapids Community Foundation Grand Rapids, MI PURPOSE: GENERAL OPERATING SUPPORT | $165,040 |
National Community Reinvestment Coalition Inc Washington, DC PURPOSE: FIELD EMPOWERMENT FUND | $100,000 |
Community Foundation For Southeast Michigan Detroit, MI PURPOSE: PUBLIC EDUCATION EFFORTS AND DEVELOPMENT OF ALTERNATIVES TO CURRENT BUDGETARY PRIORITIES IN GRAND RAPIDS | $80,000 |
Spectrum Health System Grand Rapids, MI PURPOSE: South Side Affordable Housing Project | $30,000 |
Feeding America West Michigan Comstock Park, MI PURPOSE: FIGHT HUNGER | $5,335 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Csi Support And Development Services Warren, MI | $96,275,686 | $9,083,867 |
Bhi Retirement Communities Inc Indianapolis, IN | $75,104,516 | $7,467,607 |
Linc Up Nonprofit Housing Corporation Grand Rapids, MI | $10,740,022 | $1,506,390 |
Ecoworks Detroit, MI | $1,467,952 | $1,984,326 |
St Clare Management Inc Milwaukee, WI | $646,064 | $1,339,320 |
Hope Network Non Profit Housing Corporation Grand Rapids, MI | $1,009,438 | $0 |
Catholic Charities Housing Corporation Cleveland, OH | $7,360,885 | -$1,393,228 |
Elmdale Apartments Nonprofit Housing Corporation Grand Rapids, MI | $343,640 | $152,127 |
Sustainability Institute Of Detroit Detroit, MI | $301,928 | $6,355 |
Affordable Housing Services Corporation Fishers, IN | $1,155,325 | $22,073 |
Hocking Housing Management Inc Logan, OH | $158,629 | $11 |