Sacred Heart House Inc
- Assets
- $2.1m
- Revenue
- $3.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Wilmington, DE
- Founding
- 12/2010
- Data as of
- 12/2022
- EIN
- 51-0384441
Organization Overview
Sacred Heart House Inc is located in Wilmington, DE. The organization was established in 2010. 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. Sacred Heart House 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, Sacred Heart House Inc generated $3.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (37.5%) each year. All expenses for the organization totaled $56.8k 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
THE MISSION OF THIS ORGANIZATION IS TO PROVIDE DECENT, AFFORDABLE HOUSING TO LOW-INCOME AND MODERATE-INCOME PERSONS WITHOUT DISCRIMINATION, CREATE AND FOSTER AN INTERGENERATIONAL COMMUNITY AND PRESERVE THE HISTORIC INTEGRITY OF THE EXISTING BUILDINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CARRY OUT ITS MISSION, THE ORGANIZATION ACQUIRED PROPERTY FORMERLY KNOWN AS THE EPISCOPAL CATHEDRAL OF ST. JOHN ON CONCORD AVENUE AND MARKET STREET IN WILMINGTON'S HISTORIC BRANDYWINE VILLAGE. THE PROPERTY WAS DEVELOPED INTO UNITS OF SENIOR HOUSING FOR LOW AND MODERATE INCOME RESIDENTS AND WAS PLACED INTO SERVICE IN 2019.SACRED HEART HOUSING IS A PARTICIPATING ORGANIZATION IN THE PLANNED VILLA MARIA SENIOR HOUSING PROJECT. THE PROJECT IS CURRENTLY IN THE PRELIMINARY STAGES OF DEVELOPMENT.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Gessner Jr Member | Trustee | 0.5 | $0 |
Joseph Grey Member | Trustee | 0.5 | $0 |
David Wilk Cre Mai Member | Trustee | 0.5 | $0 |
Burney Miller Member | Trustee | 0.5 | $0 |
Hon Loretta Walsh Member | Trustee | 0.5 | $0 |
Richard Forsten ESQ Member | Trustee | 0.5 | $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 | $1,796 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,796 |
| Total Program Service Revenue | $0 |
| Investment income | $2,134 |
| 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 | $3,930 |
| 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. | $29,404 |
| Compensation of current officers, directors, key employees. | $29,404 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,250 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,156 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $296 |
| Travel | $0 |
| 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 | $22,609 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $56,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,293,891 |
| Pledges and grants receivable | $0 |
| 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 | $760,371 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,396 |
| Total assets | $2,090,658 |
| Accounts payable and accrued expenses | $25 |
| 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 | $0 |
| Other liabilities | $104,176 |
| Total liabilities | $104,201 |
| Net assets without donor restrictions | $686,457 |
| Net assets with donor restrictions | $1,300,000 |
| 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 | $2,090,658 |