Housing On Merit
- Assets
- $5.6m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 21
- Location
- Los Angeles, CA
- Founding
- 08/2012
- Data as of
- 12/2022
- EIN
- 45-2991692
Organization Overview
Housing On Merit is located in Los Angeles, CA. The organization was established in 2012. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Housing On Merit employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing On Merit 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 12/2022, Housing On Merit generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 37.9% each year . All expenses for the organization totaled $1.6m during the year ending 12/2022. While expenses have increased by 31.2% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING ON MERIT CREATES A BRIDGE TO PERMANENT AFFORDABLE HOUSING FOR VULNERABLE POPULATIONS IN CALIFORNIA AND WASHINGTON D.C.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING ON MERIT PROVIDES INDIVIDUALS AND FAMILIES RESIDING AT HOUSING ON MERIT'S AFFORDABLE HOUSING PROPERTIES WITH ANCILLARY SERVICES THROUGH LEARNING CENTERS THAT FOCUS ON FOUR KEY AREAS: EDUCATION, EMPOWERMENT, FINANCIAL STABILITY, AND HEALTH AND WELLNESS. IT ALSO DEVELOPS AND OWNS AFFORDABLE HOUSING PROPERTIES THROUGHOUT THE COUNTRY AND HAS A RESEARCH AND DESIGN PLATFORM DEDICATED TO SHOWCASING, INCUBATING, AND IMPLEMENTING NEW POLICY, FINANCE, AND TECHNOLOGY SOLUTIONS TO THE HOUSING AFFORDABILITY AND HOMELESSNESS CRISIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pat Luke President | OfficerTrustee | 2 | $0 |
Monica Ball Secretary | OfficerTrustee | 2 | $0 |
Scott Alter Board Member | Trustee | 1 | $0 |
Bryan Barker Board Member | Trustee | 1 | $0 |
Suzanne Hollander Board Member | Trustee | 1 | $0 |
Jeff Jaeger Board Member | Trustee | 1 | $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 | $150,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $150,050 |
| Total Program Service Revenue | $2,005,736 |
| Investment income | $755 |
| 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 | $2,173,394 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,160 |
| 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. | $353,900 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $565,244 |
| Pension plan accruals and contributions | $30,189 |
| Other employee benefits | $101,282 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $32,804 |
| Fees for services: Accounting | $26,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $74,669 |
| Advertising and promotion | $0 |
| Office expenses | $12,934 |
| Information technology | $3,598 |
| Royalties | $0 |
| Occupancy | $53,514 |
| Travel | $80,819 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,595 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,965 |
| All other expenses | $0 |
| Total functional expenses | $1,648,071 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,103,588 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $165,958 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,328,433 |
| Total assets | $5,597,979 |
| Accounts payable and accrued expenses | $55,266 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $4,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $356 |
| Total liabilities | $4,055,622 |
| Net assets without donor restrictions | $1,518,801 |
| Net assets with donor restrictions | $23,556 |
| 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 | $5,597,979 |