Diamond Heights Inc
- Assets
- $475.5k
- Revenue
- $126.2k
- Investments
- $25.5k
- Employees
- 0
- Location
- Des Moines, IA
- Founding
- 04/1999
- Data as of
- 06/2024
- EIN
- 42-1485140
Organization Overview
Diamond Heights Inc is located in Des Moines, IA. The organization was established in 1999. 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. Diamond Heights 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 06/2024, Diamond Heights Inc generated $126.2k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $151.6k during the year ending 06/2024. While expenses have increased by 4.2% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING FOR LOW INCOME ELDERLY
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES INCURRED TO OPERATE A 16 UNIT APARTMENT COMPLEX FOR THE ELDERLY, FINANCED BY A SECTION 202 CAPITAL ADVANCE FROM HUD. TENANT RENT IS SUBSIDIZED BY SECTION 202 PRAC ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Butts-Elston President | OfficerTrustee | 0.2 | $0 |
Barbara Redmond Vice President | OfficerTrustee | 0.2 | $0 |
Abbie M Gaffey Member | Trustee | 0.2 | $0 |
Candace Phipps Member | Trustee | 0.2 | $0 |
Elaine Eisele Member | Trustee | 0.2 | $0 |
Geri Johnson Member | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $58,314 |
| 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 | $58,314 |
| Total Program Service Revenue | $66,686 |
| Investment income | $263 |
| 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 | $126,204 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $12,470 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,210 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $479 |
| Office expenses | $6,396 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $70,931 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,479 |
| Insurance | $0 |
| All other expenses | $10,631 |
| Total functional expenses | $151,596 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,057 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $565 |
| 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 | $649 |
| Net Land, buildings, and equipment | $433,638 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $25,486 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,063 |
| Total assets | $475,458 |
| Accounts payable and accrued expenses | $15,164 |
| Grants payable | $0 |
| Deferred revenue | $204 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $1,129,600 |
| Other liabilities | $5,849 |
| Total liabilities | $1,150,817 |
| Net assets without donor restrictions | -$675,359 |
| 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 | $475,458 |