Equity Homes
- Assets
- $6.6m
- Revenue
- $1.7m
- Investments
- $604.7k
- Employees
- 0
- Location
- Saint Louis, MO
- Founding
- 04/2019
- Data as of
- 12/2023
- 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 12/2023, Equity Homes generated $1.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (14.0%) each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. 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
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
CATALYTIC RENOVATIONS - COMPLETED AND SOLD 3 REHABBED HOMES WORKING ON 3 HOMES PURCHASED IN 2022 AND 3 PURCHASED IN 2023
REHABBED FORMER HOUSING AUTHORITY BUILDING FOR USE BY THE CITY OF WELLSTON FOR THEIR CITY HALL
DEMOLISHED 54 ABANDONED BUILDINGS AND CLEARED 21 VACANT LOTS IN AREAS THAT HAVE EXPERIENCED SYSTEMIC RACISM, DISINVESTMENT AND DEPOPULATION. THE DEMOLITIONS REDUCE THE BURDENS OF GOVERNMENT ALLOWING MUNICIPALITIES TO REQUEST THE REMOVAL OF DANGEROUS STRUCTURES AND CLEAN UP VACANT LOTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jean Cody President | 5 | $0 | |
Patrick Brown Treasurer | 2 | $0 | |
Alan Ratchford Director | 2 | $0 | |
Patrick Brown Treasurer | 4 | $0 | |
Britton Clemons President | 40 | $111,196 | |
Jacqueline Davis Vp/secretary | 40 | $100,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shulamith Simon | 12/30/20 | $61,730 |
Jean Cody Cpa Pc | 12/30/20 | $64,169 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,740,081 |
| Interest on Savings | $49,327 |
| Dividends & Interest | $0 |
| 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 | -$143,868 |
| Other Income | $104,364 |
| Total Revenue | $1,749,904 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $211,196 |
| Other employee salaries and wages | $790,756 |
| Pension plans, employee benefits | $209,409 |
| Interest | $20,184 |
| Taxes | $81,683 |
| Depreciation | $111,263 |
| Occupancy | $61,157 |
| Travel, conferences, and meetings | $647 |
| Printing and publications | $132 |
| Other expenses | $638,177 |
| Total operating and administrative expenses | $2,177,644 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $2,177,644 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $431,560 |
| Savings and temporary cash investments | $1,455,407 |
| Net Accounts receivable | $80,429 |
| 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 | $33,696 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $604,704 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $2,062,235 |
| Other assets | $1,897,001 |
| Total assets | $6,565,032 |
| Accounts payable and accrued expenses | $177,871 |
| Grants payable | $0 |
| Deferred revenue | $200,404 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $2,164,140 |
| Other liabilities | $125,092 |
| Total liabilities | $2,667,507 |
Grants Awarded
Over the last fiscal year, Equity Homes has awarded $109,170 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ST LOUIS AREA DIAPER BANK PURPOSE: GIFT OF FORKLIFT | $17,665 |
COMMUNITY IMPACT NETWORK PURPOSE: SUPPORT WORKIN EARLY CHILDHOODCOLLABORATIONS | $7,567 |
241 CLT LENDING CORPDBA EQUITY HOME PURPOSE: SUPPORT GRANTS | $83,938 |