Hartford Village
- Assets
- $13.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 0
- Location
- Southfield, MI
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 47-1404100
Organization Overview
Hartford Village is located in Southfield, MI. The organization was established in 2014. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hartford Village 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, Hartford Village generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 53.6% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOP AND OPERATE A MIXED INCOME SENIOR LIVING COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATING SENIOR HOUSING AND SERVICES WHERE SENIORS ARE ABLE TO ACHIEVE THE BEST POSSIBILITIES AND PURPOSES IN LIFE, AND HAVE RELIEF FROM THE STRESS OF OLD AGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Spears Member | Trustee | 1 | $0 |
Rev Christian Adams Member | Trustee | 1 | $0 |
Violet Ponders Member | Trustee | 1 | $0 |
Isaiah Lapsley Member | Trustee | 1 | $0 |
Paul Hubbard Member | Trustee | 1 | $0 |
Artelia J Griggs 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 | $83,077 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $83,077 |
| Total Program Service Revenue | $1,468,090 |
| Investment income | $0 |
| 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 | $1,566,629 |
| 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 | $163,924 |
| Pension plan accruals and contributions | $2,409 |
| Other employee benefits | $2,401 |
| Payroll taxes | $10,810 |
| Fees for services: Management | $59,732 |
| Fees for services: Legal | $167 |
| Fees for services: Accounting | $10,532 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $197,614 |
| Advertising and promotion | $526 |
| Office expenses | $11,588 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $112,683 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $406,078 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $429,604 |
| Insurance | $129,857 |
| All other expenses | $0 |
| Total functional expenses | $1,628,115 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $232,190 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,079 |
| 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 | $13,883 |
| Net Land, buildings, and equipment | $13,022,702 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $384,412 |
| Total assets | $13,685,266 |
| Accounts payable and accrued expenses | $319,838 |
| 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 | $12,774,788 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $452,948 |
| Total liabilities | $13,547,574 |
| Net assets without donor restrictions | $137,692 |
| 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 | $13,685,266 |