Friends Of Housing Corporation
- Assets
- $2.9m
- Revenue
- $975.0k
- Investments
- $0.0
- Employees
- 76
- Location
- Milwaukee, WI
- Founding
- 09/1998
- Data as of
- 12/2019
- EIN
- 39-1915741
Organization Overview
Friends Of Housing Corporation is located in Milwaukee, WI. The organization was established in 1998. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2019, Friends Of Housing Corporation employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of 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 12/2019, Friends Of Housing Corporation generated $975.0k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $1.1m during the year ending 12/2019. While expenses have increased by 3.7% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
FRIENDS OF HOUSING CORPORATION DEVELOPS HIGH QUALITY HOUSING AND PROVIDES INNOVATION HOUSING MANAGEMENT THAT GENERATES ECONOMIC OPPORTUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES PREMIER PROPERTY MANAGEMENT SERVICES FOR OVER 2100 RENTAL UNITS OWNED BY THE HOUSING AUTHORITY CITY OF MILWAUKEE AND OVER 100 UNITS OF NON-CITY OWNED RENTAL UNITS INCLUDING MULTI UNITS AND SINGLE-FAMILY HOMES. MOST RENTAL UNITS ARE IN LOW TO MODERATE INCOME AREAS IN NEED OF QUALITY AFFORDABLE HOUSING. PREFERENCE IS GIVEN TO RESIDENTS OF THOSE AREAS FOR EMPLOYMENT OPPORTUNITIES AND CONTRACTUAL SERVICES FOR MAINTAINING THE PROPERTIES. FRIENDS OF HOUSING ALSO SERVES AS AN ADVISOR AND PARTNER WITH THE HOUSING AUTHORITY CITY OF MILWAUKEE ON CERTAIN PROJECTS THAT REQUIRE A NONPROFIT ENTITY INVOLVEMENT. THE ORGANIZATION ALSO PROVIDES PROPERTY MANAGEMENT AND TECHNICAL ASSISTANCE TO OTHER GOVERNMENT FUNDED ORGANIZATIONS THAT PROVIDE HOUSING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
L'tanya Mcneal Executive Dir. | Officer | 40 | $34,327 |
Margaret Henningsen Treasurer | OfficerTrustee | 1 | $0 |
Nacarci Feaster President | OfficerTrustee | 1 | $0 |
Christopher Goller Vice President | OfficerTrustee | 1 | $0 |
Angela Mckenzie Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mccalla Floor Sanding & Refinishing Floor Refinishing | 12/30/19 | $0 |
Atlas Contractors Carpentry/painting | 12/30/19 | $0 |
Covenant Home Improvement Painting | 12/30/19 | $0 |
Meridian Group Management | 12/30/19 | $0 |
Mv Cleaning Janitorial | 12/30/19 | $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 | $974,684 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $350 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $975,034 |
| 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. | $34,327 |
| Compensation of current officers, directors, key employees. | $22,885 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $414,380 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,004 |
| Payroll taxes | $0 |
| Fees for services: Management | $33,588 |
| Fees for services: Legal | $31,302 |
| Fees for services: Accounting | $15,990 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,329 |
| Advertising and promotion | $2,587 |
| Office expenses | $47,111 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,179 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $50 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $56,675 |
| Insurance | $175,047 |
| All other expenses | $37,853 |
| Total functional expenses | $1,085,444 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,748,803 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,930 |
| 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 | $79,977 |
| Net Land, buildings, and equipment | $874,582 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $213,600 |
| Total assets | $2,932,892 |
| Accounts payable and accrued expenses | $442,022 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $12,283 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $200,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $523,687 |
| Total liabilities | $1,177,992 |
| Net assets without donor restrictions | $1,754,900 |
| Net assets with donor restrictions | $0 |
| 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 | $2,932,892 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Housing Services Mid Michigan Charlotte, MI | $2,013,469 | $14,437,193 |
Community Contacts Inc Elgin, IL | $3,819,582 | $12,869,082 |
Institute For Community Alliances Des Moines, IA | $2,443,302 | $12,133,028 |
Community Rebuilders Grand Rapids, MI | $5,851,617 | $11,572,784 |
Western Home Services Inc Cedar Falls, IA | $36,931,248 | $9,460,886 |
Chicago Metropolitan Housing Development Corporation Chicago, IL | $46,092,100 | $7,394,940 |
Cinnaire Lending Corporation Lansing, MI | $75,621,059 | $9,899,346 |
Partners For Community Development Inc Sheboygan, WI | $8,253,882 | $7,968,342 |
West Chicago Preservation Corp Chicago, IL | $9,151,204 | $2,715,959 |
Bridge Communities Inc Glen Ellyn, IL | $16,127,143 | $5,545,489 |
Minnesota Home Ownership Center St Paul, MN | $17,549,875 | $3,064,242 |
Land Bank Twin Cities Inc St Anthony, MN | $25,684,992 | $6,229,470 |