Faith Community Development Corporation
- Assets
- $12.9m
- Revenue
- $862.5k
- Investments
- $0.0
- Employees
- 15
- Location
- Lafayette, IN
- Founding
- 07/2014
- Data as of
- 06/2023
- EIN
- 46-4178872
Organization Overview
Faith Community Development Corporation is located in Lafayette, IN. The organization was established in 2014. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 06/2023, Faith Community Development Corporation employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Faith Community Development Corporation 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 06/2023, Faith Community Development Corporation generated $862.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $1.7m during the year ending 06/2023. 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
THE ORGANIZATION IS ORGANIZED FOR THE PURPOSES OF OWNING, PROVIDING, CONVEYING, AND DEVELOPING AFFORDABLE, DECENT, SAFE, AND SANITARY HOUSING FOR LOW AND MODERATE-INCOME FAMILIES AND PERSONS; ORGANIZING VOLUNTEERS FOR RELATED HOME RENOVATION PROJECTS; PROVIDING HOMEBUYER AND HOMEOWNERSHIP EDUCATION TO LOW AND MODERATE-INCOME FAMILIES AND PERSONS; AND CREATING AND PROVIDING HOUSING OPPORTUNITIES FOR LOW AND MODERATE-INCOME HOUSEHOLDS BY CONSTRUCTING AND REFURBISHING RESIDENTIAL STRUCTURES. ADDITIONALLY, THE ORGANIZATION IS ORGANIZED TO PROVIDE HOMEBUYER AND OWNERSHIP EDUCATION; TO REPORT ON ACTIVITIES AND INFORMATION ABOUT PERSONS BENEFITTING FROM THE PROGRAMS TO THE CITY OF LAFAYETTE AND TO HUD; AND TO CARRY ON OTHER SUPPORTIVE PROJECTS THAT WOULD STABILIZE AND ENHANCE LOW AND MODERATE-INCOME NEIGHBORHOODS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAITH COMMUNITY DEVELOPMENT CORPORATION WORKS TO REVITALIZE DISTRESSED NEIGHBORHOODS IN LAFAYETTE BY OFFERING LOW-TO-MODERATE INCOME FAMILIES AFFORDABLE HOUSING OPTIONS, SUPPORTING NEIGHBORHOOD INITIATIVES, AND PROVIDING FINANCIAL EMPLOYABILITY SKILLS TRAINING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Viars Chairman | OfficerTrustee | 0.5 | $0 |
Matthew Westhuis CFO | Officer | 0 | $0 |
Daniel Yoon Treasurer | OfficerTrustee | 0.5 | $0 |
Gage Butterbrodt Secretary | OfficerTrustee | 0.5 | $0 |
Josh Aucoin Director | Trustee | 0.5 | $0 |
Rod Hutton Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lafayette Materials Management Equipment | 6/29/19 | $229,776 |
Titan Construction Construction | 6/29/19 | $176,040 |
Force Technology Solutions Equipment | 6/29/19 | $242,004 |
Citation Homes Construction | 6/29/19 | $104,000 |
Bgi Fitness Equipment | 6/29/19 | $145,756 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $92,688 |
| All other contributions, gifts, grants, and similar amounts not included above | $193,624 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $286,312 |
| Total Program Service Revenue | $459,825 |
| Investment income | $102,375 |
| 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 | $862,484 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,416 |
| 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 | $131,138 |
| Pension plan accruals and contributions | $5,567 |
| Other employee benefits | $25,710 |
| Payroll taxes | $7,805 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,772 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,945 |
| Advertising and promotion | $7,693 |
| Office expenses | $36,035 |
| Information technology | $18,613 |
| Royalties | $0 |
| Occupancy | $1,059,839 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,877 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $294,596 |
| Insurance | $2,047 |
| All other expenses | $20,443 |
| Total functional expenses | $1,687,186 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $353,240 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $18,339 |
| Accounts receivable, net | $56,604 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,704,800 |
| Inventories for sale or use | $8,300 |
| Prepaid expenses and deferred charges | $10,027 |
| Net Land, buildings, and equipment | $2,750,243 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,901,553 |
| Accounts payable and accrued expenses | $170,586 |
| Grants payable | $0 |
| Deferred revenue | $2,923,821 |
| 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 | $183,850 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,278,257 |
| Net assets without donor restrictions | $9,553,375 |
| Net assets with donor restrictions | $69,921 |
| 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 | $12,901,553 |
Grants Awarded
Over the last fiscal year, Faith Community Development Corporation has awarded $233,076 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
FAITH LEGACY FOUNDATION PURPOSE: OPERATING EXPENSES | $6,500 |
FAITH PROPERTIES PURPOSE: CAPITAL EXPENDITURES | $111,576 |
FAITH CHURCH PURPOSE: OPERATING EXPENSES | $25,000 |
FAITH LEGACY PROPERTIES PURPOSE: OPERATING EXPENSES | $90,000 |