Equity Homes
- Assets
- $10.7m
- Revenue
- $5.5m
- Investments
- $686.0k
- Employees
- 0
- Location
- Saint Louis, MO
- Founding
- 04/2019
- Data as of
- 12/2021
- EIN
- 38-4098155
Organization Overview
Equity Homes is located in Saint Louis, MO. The organization was established in 2019. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Equity Homes 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, Equity Homes generated $5.5m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $3.3m during the year ending 12/2021. While expenses have increased by 13.4% per year over the past 3 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE BREAKDOWN IN 2-4 ACQUISITION, CONSTRUCTION, REHABILITATION, DEMOLITION, DEVELOPMENT AND/OR SELLING OF PROPERTY TO COMBAT DETERIORATION AND TO PROVIDE HOME OWNERSHIP OPPORTUNITIES TO REPOPULATE COMMUNITIES BY PROVIDING HOMES FOR SALE TO PERSONS WITH INCOMES LESS THAT 140% OF AMI
CREATED AFFORDABLE QUALITY HOMES IN AREAS FAILING DUE TO INSTITUTIONAL RACISM. IT RENOVATED 6 BLIGHTED HOMES. THE HOMES REINFORCE NEIGHBORHOOD STABIITY AND QUALITY AND ATTRACT NEW RESIDENTS THAT BRING ECONOMIC DIVERSITY TO THE COMMUNITY.
DEMOLISHED 57 VACANT AND ABANDONED BUILDINGS IN AREAS THAT HAVE EXPERIENCED DISCRIMINTATION, DISINVESTMENT AND DEPOPULATION. THE DEMOLITIONS REDUCE THE BURDENS OF GOVERNMENT BY RESPONDING TO MUNICIPALITIES REQUEST FOR THE REMOVAL OF DANGEROUS STRUCTURES AND CLEAN UP LOTS FOR REDEVELOPMENT.
PROVIDED MANAGEMENT AND PLANNING FOR THE CONSTRUCTION OF THE FIRST SUBDIVISION BUILT IN DECADES IN WELLSTON, MO. 6 HOMES COMPLETED AND 17 HOMES UNDER CONSTRUCTION IN RESPONSE TO GOV'T REQUESTS FOR HOMEOWNERSHIP OPPORTUNITIES. PROVIDED CLT MANAGEMENT AND LENDING SERVICES TO 8 HOMEOWNERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Gioia Acting Ceo Vice President / Secretary | 30 | $111,031 | |
Britton Clemons Managing Director | 40 | $109,039 | |
John Gehrin Rehab Manager | 40 | $88,481 | |
Alfred Washington Master Plumber | 40 | $83,732 | |
Jacqueline Davis Director Of Housing | 40 | $79,577 | |
Daniell Parker Lead Operator Demo | 40 | $60,362 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jean Cody Cpa Pc | 12/30/20 | $64,169 |
Shulamith Simon | 12/30/20 | $61,730 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,510,911 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,674 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $36,442 |
| Total Revenue | $5,549,027 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $111,032 |
| Other employee salaries and wages | $1,211,172 |
| Pension plans, employee benefits | $162,908 |
| Interest | $31,143 |
| Taxes | $105,781 |
| Depreciation | $112,485 |
| Occupancy | $71,966 |
| Travel, conferences, and meetings | $6,246 |
| Printing and publications | $603 |
| Other expenses | $1,219,629 |
| Total operating and administrative expenses | $3,226,090 |
| Contributions, gifts, grants paid | $109,170 |
| Total expenses and disbursements | $3,335,260 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $98,935 |
| Savings and temporary cash investments | $671,031 |
| Net Accounts receivable | $53,558 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $61,204 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $686,004 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $2,318,786 |
| Other assets | $6,852,212 |
| Total assets | $10,741,730 |
| Accounts payable and accrued expenses | $632,930 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $6,420,063 |
| Other liabilities | $74,972 |
| Total liabilities | $7,127,965 |
Grants Awarded
Over the last fiscal year, Equity Homes has awarded $109,170 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
241 CLT LENDING CORPDBA EQUITY HOME PURPOSE: SUPPORT GRANTS | $83,938 |
ST LOUIS AREA DIAPER BANK PURPOSE: GIFT OF FORKLIFT | $17,665 |
COMMUNITY IMPACT NETWORK PURPOSE: SUPPORT WORKIN EARLY CHILDHOODCOLLABORATIONS | $7,567 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Equity Homes has recieved totaling $2,307,002.
| Awarding Organization | Amount |
|---|---|
Alvin Goldfarb Foundation Saint Louis, MO PURPOSE: COMMUNITY BUILDING &ECONOMIC DEVELOPMENT | $2,307,002 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Irc Ii Inc Omaha, NE | $77,092,812 | $15,244,348 |
Center For The Developmentally Disabled Kansas City, MO | $14,632,501 | $18,017,450 |
Lester And Rosalie Anixter Center Chicago, IL | $16,517,406 | $29,142,038 |
Reach For Your Potential Inc Iowa City, IA | $7,743,905 | $10,140,331 |
Society Of St Vincent Depaul Council Of Louisville Louisville, KY | $10,950,346 | $7,888,364 |
Region Xii Council Of Governments Inc Carroll, IA | $20,470,902 | $9,309,351 |
Socayr Inc Louisville, KY | $34,945,508 | $6,749,829 |
Family Scholar House Inc Louisville, KY | $18,614,591 | $4,995,688 |
Housing In Omaha Inc Omaha, NE | $17,600,066 | $3,936,471 |
The Village At Mercy Creek Lemont, IL | $14,145,576 | $2,549,375 |
Equity Homes Saint Louis, MO | $10,741,730 | $5,549,027 |
Affordable Community Housing Trust Edmond, OK | $6,149,448 | $2,689,134 |