Housing Initiatives Inc
- Assets
- $7.6m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 12
- Location
- Madison, WI
- Founding
- 12/1994
- Data as of
- 12/2023
- EIN
- 39-1781842
Organization Overview
Housing Initiatives Inc is located in Madison, WI. The organization was established in 1994. According to its NTEE Classification (J21) the organization is classified as: Vocational Counseling, under the broad grouping of Employment and related organizations. As of 12/2023, Housing Initiatives Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Initiatives 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 12/2023, Housing Initiatives Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $2.6m during the year ending 12/2023. While expenses have increased by 5.1% per year over the past 9 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING INITIATIVES PROVIDES HOUSING ASSISTANCE TO HARD-TO-SERVE HOMELESS PERSONS WITH DISABILITIES, MENTAL ILLNESS, AND DRUG AND ALCOHOL PROBLEMS PRIMARILY IN THE DANE COUNTY, WISCONSIN AREA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING INITIATIVES PROVIDES PERMANENT SUPPORTIVE HOUSING (PSH) TO OVER 200 CLIENTS USING RENTAL ASSISTANCE GRANT FUNDS FROM THE FEDERAL GOVERNMENT, SECTION 8 VOUCHERS AND OTHER SOURCES. THE AGENCY PRIMARILY DOES THIS THROUGH A TOTAL OF 33 PROPERTIES (151 UNITS) THAT THE AGENCY OWNS AND/OR OPERATES. ALL CLIENTS ARE FORMERLY HOMELESS AND EXPERIENCE SERIOUS MENTAL HEALTH CONDITIONS, OFTEN CONCURRENT TO SUBSTANCE ABUSE OR OTHER PAST TRAUMA. GRANTS REPORTED ARE THE AMOUNTS OF DIRECT ASSISTANCE AND SUPPORT COSTS TO INDIVIDUALS AS WELL AS RENTAL ASSITANCE PAYMENTS FOR CLIENTS NOT HOUSED IN HOUSING INITIATIVE OWNED PROPERTIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Kirk President | OfficerTrustee | 1 | $0 |
Kathryn Nichol MD Ms Vice President | OfficerTrustee | 1 | $0 |
Byron Olson Treasurer | OfficerTrustee | 1 | $0 |
Dave Flanagan Secretary | OfficerTrustee | 1 | $0 |
Ed Gleason Past President | Trustee | 1 | $0 |
Chris Prestigiacomo Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $8,154 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $260,929 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,139 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $292,222 |
| Total Program Service Revenue | $2,117,511 |
| Investment income | $24,413 |
| 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 | $2,494,685 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $299,223 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $104,894 |
| Compensation of current officers, directors, key employees. | $62,937 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $517,713 |
| Pension plan accruals and contributions | $20,897 |
| Other employee benefits | $191,899 |
| Payroll taxes | $53,119 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,962 |
| Fees for services: Accounting | $42,748 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,773 |
| Advertising and promotion | $0 |
| Office expenses | $37,867 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $699,184 |
| Travel | $22,217 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,556 |
| Interest | $131,572 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $305,109 |
| Insurance | $101,510 |
| All other expenses | $0 |
| Total functional expenses | $2,626,821 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,185 |
| Savings and temporary cash investments | $546,124 |
| Pledges and grants receivable | $240,062 |
| Accounts receivable, net | $27,206 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,322 |
| Net Land, buildings, and equipment | $6,011,777 |
| Investments—publicly traded securities | $629,329 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,590,005 |
| Accounts payable and accrued expenses | $379,451 |
| Grants payable | $0 |
| Deferred revenue | $23,359 |
| 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 | $8,011,365 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,414,175 |
| Net assets without donor restrictions | -$1,031,848 |
| Net assets with donor restrictions | $207,678 |
| 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 | $7,590,005 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Comunidades Latinas Unidas En Servicio Inc St Paul, MN | $11,780,151 | $16,008,560 |
Hmong American Partnership Saint Paul, MN | $21,961,640 | $14,633,664 |
Missouri Valley Line Constructors Apprenticeship Training Indianola, IA | $27,972,295 | $11,028,890 |
Operation Fresh Start Inc Madison, WI | $6,925,964 | $4,887,055 |
Family-Centered Educational Agency Inc South Holland, IL | $1,425,847 | $3,030,252 |
Housing Initiatives Inc Madison, WI | $7,590,005 | $2,494,685 |
Soar Career Solutions Duluth, MN | $440,230 | $1,224,695 |
Womens Resource Center Grand Rapids, MI | $3,763,315 | $3,221,402 |
We Evanston Evanston, IL | $54,053 | $131,693 |
Momenta Inc Oak Park, IL | $116,378 | $202,799 |
Gordies Foundation Inc Chicago, IL | $500 | $0 |
Vineyard Village Monroe, MI | $20,984 | $0 |
Diamond Kut Charities Chicago, IL | $657,527 | $106,672 |
Kayd Foundation Inc Saint Paul, MN | $34,983 | $0 |
Gostem Guild Of Science Technology Engineering And Mathematics Skokie, IL | $159,706 | $0 |
North American Chinese Society Of Automotive Engineers Troy, MI | $7,566 | $0 |