Rebuild America Inc
- Assets
- $9.2m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 5
- Location
- Bishop, GA
- Founding
- 01/2013
- Data as of
- 12/2023
- EIN
- 46-0711021
Organization Overview
Rebuild America Inc is located in Bishop, GA. The organization was established in 2013. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Rebuild America Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rebuild America 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, Rebuild America Inc generated $3.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 27.6% each year . All expenses for the organization totaled $984.4k during the year ending 12/2023. While expenses have increased by 22.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION HAS BEEN FORMED TO SPONSOR THE PRESERVATION OF AFFORDABLE LOW-INCOME ELDERLY HOUSING PROJECTS, PRIMARILY THOSE FINANCED UNDER THE HUD SECTION 202 DIRECT LOAN PROGRAM WITH RENTAL SUBSIDIES PROVIDED UNDER SECTION 8 HOUSING PAYMENT (HAP) CONTRACTS. THE PRESERVATION OF THESE PROJECTS AS AFFORDABLE HOUSING IS AN ACUTE PROBLEM BECAUSE THE MAJORITY OF THESE PROJECTS ARE APPROACHING THE MATURITY OF THEIR MORTGAGE TERMS AND MAY BE PREPAID WITHOUT HUD APPROVAL. REBUILD AMERICA WILL ACQUIRE SUCH PROJECTS AND MAINTAIN THE AFFORDABLE HOUSING FOR THE RESIDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS OF 12.31.2023, THE ORGANIZATION HAS FACILITATED THE ACQUISITION AND RENOVATION OF THIRTEEN RENTAL APARTMENT FACILITIES OPERATED FOR LOW-INCOME ELDERLY AND SELF-SUFFICIENT DISABLED PERSONS. THE ORGANIZATION HAS IDENTIFIED MULTIPLE ADDITIONAL FACILITIES, WHEREIN THE ACQUISITION AND RENOVATION ARE IN PROCESS. THESE FACILITIES ALL SERVE LOW-INCOME ELDERLY RESIDENTS PURSUANT TO THE HUD SECTION 8 RENTAL ASSISTANCE PROGRAM. THE ORGANIZATION ACTS AS THE DEVELOPER AND MANAGING GENERAL PARTNER OF THE PARTNERSHIPS WHICH ACQUIRE, RENOVATE AND OPERATE THE FACILITIES. THE ORGANIZATION IS RESPONSIBLE FOR OVERSEEING AND MANAGING THE RENOVATION WORK CURRENTLY IN PROGRESS AT THE FACILITIES AS WELL AS THE ONGOING REQUIRED ASSET MANAGEMENT.
THE ORGANIZATION SERVES AS THE MANAGING GENERAL PARTNER AND ASSET MANAGER OF VARIOUS PARTNERSHIPS WHICH HAVE ACQUIRED AND RENOVATED APARTMENT FACILITIES FOR LOW-INCOME ELDERLY RESIDENTS. THE APARTMENT FACILITIES SERVE THE LOW-INCOME ELDERLY AND SELF-SUFFICIENT HANDICAPPED RESIDENTS PURSUANT TO THE HUD SECTION 8 RENTAL ASSISTANCE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leann Marrale Chair/secretary/director | OfficerTrustee | 4 | $41,600 |
Marilou Braswell Director | Trustee | 1 | $0 |
Dharan Mandrayar Director | Trustee | 1 | $0 |
Mark J Kemp President/ceo | Officer | 40 | $227,890 |
Jason Smith Vice President | Officer | 40 | $141,597 |
Kim Adams Project Manager/assistant Secretary | Officer | 40 | $111,678 |
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 | $3,100,128 |
| Investment income | $89,519 |
| 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 | $3,199,544 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,573 |
| 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. | $633,223 |
| Compensation of current officers, directors, key employees. | $152,355 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $21,361 |
| Other employee benefits | $26,332 |
| Payroll taxes | $45,499 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $41,390 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $41,816 |
| Advertising and promotion | $0 |
| Office expenses | $26,408 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $96,487 |
| Travel | $11,998 |
| 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 | $1,617 |
| Insurance | $2,857 |
| All other expenses | $0 |
| Total functional expenses | $984,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $417,649 |
| Savings and temporary cash investments | $4,324,098 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,426,091 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,009,372 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,125 |
| Net Land, buildings, and equipment | $1,015 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $511,388 |
| Intangible assets | $0 |
| Other assets | $1,545,579 |
| Total assets | $9,238,317 |
| Accounts payable and accrued expenses | $36,903 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $475,000 |
| Other liabilities | $0 |
| Total liabilities | $511,903 |
| Net assets without donor restrictions | $8,726,414 |
| 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 | $9,238,317 |