Readlyn Area Housing Corp
- Assets
- $275.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Independence, IA
- Founding
- 09/1977
- Data as of
- 12/2023
- EIN
- 42-1081216
Organization Overview
Readlyn Area Housing Corp is located in Independence, IA. The organization was established in 1977. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Readlyn Area Housing Corp 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 12/2023, Readlyn Area Housing Corp generated $52.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $52.6k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 8 years. 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
2023
Describe the Organization's Program Activity:
Part 3
TO PROVIDE AND OPERATE RENTAL HOUSING UNITS AND RELATED FACILITIES SUITED TO THE SPECIAL NEEDS AND LIVING REQUIREMENTS OF ELDERLY RURAL RESIDENTS OF LOW AND MODERATE INCOME
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Hagenow Director | 0.1 | $0 | |
Don Billhorn Director | 0.1 | $0 | |
Rex Blaylock Director | 0.1 | $0 | |
Darrel Meyer Vice Preside | 0.1 | $0 | |
Don Heineman President | 0.1 | $0 | |
David Wittenburg Director | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $51,525 |
| Membership dues | $0 |
| Investment income | $16 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $1,322 |
| Total Revenue | $52,863 |
| 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 | $8,268 |
| Occupancy, rent, utilities, and maintenance | $19,520 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $24,798 |
| Total expenses | $52,586 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $73,500 |
| Other assets | $0 |
| Total assets | $275,858 |
| Total liabilities | $42,199 |
| Net assets or fund balances | $233,659 |