Ferndale Estates Inc
- Assets
- $450.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Montevideo, MN
- Founding
- 08/1966
- Data as of
- 06/2022
- EIN
- 41-6052783
Organization Overview
Ferndale Estates Inc is located in Montevideo, MN. The organization was established in 1966. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Ferndale Estates Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 06/2022, Ferndale Estates Inc generated $69.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.5% each year. All expenses for the organization totaled $80.4k during the year ending 06/2022. While expenses have increased by 2.4% per year over the past 7 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
THE ORGANIZATION PROVIDES LOW INCOME HOUSING WITH THE HELP OF SUBSIDIES FROM THE USDA. THE LOW INCOME HOUSING INCLUDES 8 UNITS WITH ONE AND TWO BEDROOM APARTMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joann Baum Board Member | 10 | $0 | |
Keith Klein Board Member | 10 | $0 | |
Margie Dubois Vice Preside | 10 | $0 | |
Misi Gangl President | 10 | $0 | |
Diane Peterson Secretary/tr | 30 | $0 | |
Stephanie Youngberg Board Member | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $67,076 |
| Membership dues | $0 |
| Investment income | $2,043 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $314 |
| Total Revenue | $69,433 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $12,795 |
| Occupancy, rent, utilities, and maintenance | $46,795 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $20,800 |
| Total expenses | $80,390 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $282,765 |
| Other assets | $0 |
| Total assets | $450,700 |
| Total liabilities | $297,854 |
| Net assets or fund balances | $152,846 |
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