Waterside Homes Inc
- Assets
- $1.6m
- Revenue
- $72.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Rockville, MD
- Founding
- 03/2007
- Data as of
- 06/2022
- EIN
- 51-0616354
Organization Overview
Waterside Homes Inc is located in Rockville, MD. The organization was established in 2007. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Waterside Homes 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 06/2022, Waterside Homes Inc generated $72.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $119.8k during the year ending 06/2022. While expenses have increased by 3.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING TO THE CHRONICALLY MENTALLY DISABLED UNDER SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WATERSIDE HOMES, INC. IS A MARYLAND CORPORATION ORGANIZED IN NOVEMBER 2006 FOR THE PURPOSE OF ACQUIRING, DEVELOPING AND OPERATING HOUSING AND RELATED FACILITIES FOR PERSONS WHO SUFFER FROM CHRONIC MENTAL ILLNESS. IT CONSISTS OF 11 UNITS LOCATED IN MONTGOMERY COUNTY, MARYLAND. THE ENTITY RECEIVES ASSISTANCE UNDER PROVISIONS OF SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT. SUCH PROJECTS ARE REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AS TO RENT CHARGES AND OPERATING METHODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cari Guthrie Cho President | OfficerTrustee | 0.1 | $0 |
Chris Sintetos Vice President | OfficerTrustee | 0.1 | $0 |
Tracey Stevens Secretary/treasurer | OfficerTrustee | 0.1 | $0 |
Jim Audas Director | Trustee | 0.1 | $0 |
Rebecca Monzi Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $46,365 |
| Investment income | $15 |
| 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 | $72,206 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $5,478 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,815 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,834 |
| Advertising and promotion | $0 |
| Office expenses | $726 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,997 |
| 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 | $37,206 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $119,776 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,345 |
| Savings and temporary cash investments | $165,448 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,479 |
| Total assets | $1,608,273 |
| Accounts payable and accrued expenses | $49,956 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,701 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,884,849 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,937,506 |
| Net assets without donor restrictions | -$336,824 |
| Net assets with donor restrictions | $7,591 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | -$329,233 |