Homestead Residences Inc

Organization Overview

Homestead Residences Inc is located in Ann Arbor, MI. The organization was established in 2006. According to its NTEE Classification (F33) the organization is classified as: Residential Mental Health Treatment, under the broad grouping of Mental Health & Crisis Intervention and related organizations. As of 09/2022, Homestead Residences Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homestead Residences Inc 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 09/2022, Homestead Residences Inc generated $1.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $1.0m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE ROUND THE CLOCK RESIDENTIAL SERVICES TO ADULTS WITH MENTAL ILLNESS, AGED, HOMELESS AND DEVELOPMENTALLY DISABLED.

Describe the Organization's Program Activity:

Part 3 - Line 4a

WE PROVIDED THE FOLLOWING TO ALL INDIVIDUAL PLACED IN OUR FACILITIES: SECURED RESIDENCE, MEALS, 24 HOUR STAFFING, MEDICATION MANAGEMENT, SAFETY AND TRANSPORTATION TO AND FROM ALL OUTSIDE APPOINTMENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Hyacinth Akunne
President
$23,999
Obioma Nwachukwu
Treasurer
$0
Barbara Okon
Secretary
$0
Joseph Nwabueze
Chairperson
$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$1,055,629
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 $1,055,629

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