Kokomo Ministries Inc
- Assets
- $5.2m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Denver, CO
- Founding
- 04/2016
- Data as of
- 12/2022
- EIN
- 47-5189624
Organization Overview
Kokomo Ministries Inc is located in Denver, CO. The organization was established in 2016. 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. Kokomo Ministries 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 12/2022, Kokomo Ministries Inc generated $1.0m 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 (17.8%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2022. 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
KOKOMO MINISTRIES, INC. (THE "CORPORATION") IS A NONSTOCK CORPORATION, SPONSORED BY MERCY HOUSING WHEATON. THE CORPORATION IS A NOT-FOR-PROFIT CORPORATION FORMED ON SEPTEMBER 25, 2015, IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF INDIANA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF ACQUIRING, OWNING, AND OPERATING A 130-UNIT APARTMENT COMMUNITY LOCATED IN KOKOMO, INDIANA KNOWN AS KOKOMO MANOR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KOKOMO MINISTRIES, INC. (THE "CORPORATION") IS A NONSTOCK CORPORATION, SPONSORED BY MERCY HOUSING WHEATON. THE CORPORATION IS A NOT-FOR-PROFIT CORPORATION FORMED ON SEPTEMBER 25, 2015, IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF INDIANA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF ACQUIRING, OWNING, AND OPERATING A 130-UNIT APARTMENT COMMUNITY LOCATED IN KOKOMO, INDIANA KNOWN AS KOKOMO MANOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Saab Vice President/director | OfficerTrustee | 1 | $0 |
Joe Rosenblum Secretary/director | OfficerTrustee | 1 | $0 |
Kassidi Boening Vice President/director | OfficerTrustee | 1 | $0 |
Melissa Clayton President/director | OfficerTrustee | 1 | $0 |
Ron Jackson Director | Trustee | 1 | $0 |
Chad Payne Treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $802,747 |
| 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 | $802,747 |
| Total Program Service Revenue | $237,374 |
| Investment income | $56 |
| 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 | $1,040,177 |
| 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 | $197,967 |
| Pension plan accruals and contributions | $4,041 |
| Other employee benefits | $27,657 |
| Payroll taxes | $15,913 |
| Fees for services: Management | $76,440 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,642 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $251 |
| Advertising and promotion | $15 |
| Office expenses | $16,467 |
| Information technology | $4,314 |
| Royalties | $0 |
| Occupancy | $293,867 |
| Travel | $7,164 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,100 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $180,551 |
| Insurance | $0 |
| All other expenses | $3,784 |
| Total functional expenses | $1,208,251 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,026 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,192 |
| 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 | $34,439 |
| Net Land, buildings, and equipment | $4,929,709 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $215,854 |
| Total assets | $5,232,220 |
| Accounts payable and accrued expenses | $216,349 |
| Grants payable | $0 |
| Deferred revenue | $15,879 |
| 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 | $1,334,693 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,724 |
| Total liabilities | $1,588,645 |
| Net assets without donor restrictions | $3,643,575 |
| 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 | $5,232,220 |