Community Homes Of Bismarck Inc
- Assets
- $6.7m
- Revenue
- $761.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Bismarck, ND
- Founding
- 09/1995
- Data as of
- 12/2023
- EIN
- 45-0315211
Organization Overview
Community Homes Of Bismarck Inc is located in Bismarck, ND. The organization was established in 1995. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2023, Community Homes Of Bismarck Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Homes Of Bismarck 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, Community Homes Of Bismarck Inc generated $761.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. 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
TO PROVIDE AFFORDABLE HOUSING AND / OR RENTAL ASSISTANCE PAYMENTS TO QUALIFIED INDIVIDUALS WITH LOW AND MODERATE INCOME LEVELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SECTION 236 PROGRAM:TO PROVIDE AFFORDABLE HOUSING UNDER SECTION 236 TO QUALIFIED TENANTS WITH LOW TO MODERATE INCOME.SECTION 8 HOUSING CHOICE VOUCHER PROGRAM:TO PROVIDE RENTAL ASSISTANCE PAYMENTS ON BEHALF OF QUALIFIED LOW INCOME TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole Schurhamer Managing Agent/exec. Dir. | Officer | 4 | $0 |
Kathie Strum Managing Agent/finance Dir | Officer | 4 | $0 |
Lois Sundquist President | OfficerTrustee | 1 | $3,900 |
Steven Sathre Vice President | OfficerTrustee | 1 | $3,900 |
Kathleen Atkinson Director | Trustee | 1 | $3,575 |
Arlene Olson Director | Trustee | 1 | $3,900 |
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 | $706,625 |
| Investment income | $20,351 |
| 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 | $761,488 |
| 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. | $18,525 |
| Compensation of current officers, directors, key employees. | $18,525 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $110,374 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $32,791 |
| Payroll taxes | $2,717 |
| Fees for services: Management | $45,834 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,212 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $6,734 |
| Royalties | $0 |
| Occupancy | $183,800 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $132,219 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $317,133 |
| Insurance | $142,715 |
| All other expenses | $0 |
| Total functional expenses | $1,190,229 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,120 |
| Savings and temporary cash investments | $576,920 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $22,443 |
| 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 | $71,345 |
| Net Land, buildings, and equipment | $5,470,944 |
| Investments—publicly traded securities | $514,824 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,558 |
| Total assets | $6,723,154 |
| Accounts payable and accrued expenses | $582,708 |
| Grants payable | $0 |
| Deferred revenue | $9,665 |
| 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 | $2,607,078 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,750,092 |
| Total liabilities | $4,949,543 |
| Net assets without donor restrictions | $1,482,696 |
| Net assets with donor restrictions | $290,915 |
| 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 | $6,723,154 |