Inwood House Development Corporation
- Assets
- $8.8m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 26
- Location
- Silver Spring, MD
- Founding
- 06/1983
- Data as of
- 09/2023
- EIN
- 52-0323695
Organization Overview
Inwood House Development Corporation is located in Silver Spring, MD. The organization was established in 1983. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 09/2023, Inwood House Development Corporation employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inwood House 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 09/2023, Inwood House Development Corporation generated $3.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $2.3m during the year ending 09/2023. While expenses have increased by 1.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE INDEPENDENT LIVING PROGRAMS FOR LOW-INCOME AND DISABLED ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INWOOD HOUSE IS AN INDEPENDENT LIVING APARTMENT FACILITY WHICH PROVIDES SAFE, AFFORDABLE AND ACCESSIBLE RENTAL HOUSING FOR PERSONS WHO ARE CONSIDERED LOW-INCOME UNDER HUD SECTION 8 STANDARDS AND ARE DISABLED, HANDICAPPED OR ELDERLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robin Y Jenkins President | OfficerTrustee | 1 | $0 |
Mandy Merchant Vice President | OfficerTrustee | 1 | $0 |
Nicole Springirth Treasurer | OfficerTrustee | 1 | $0 |
Dr Kimberly Coleman Secretary | OfficerTrustee | 1 | $0 |
Darcel Cox Director | Trustee | 1 | $0 |
David Lee Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,344,288 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,741 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,349,029 |
| Total Program Service Revenue | $733,756 |
| Investment income | $125,965 |
| 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 | $3,208,750 |
| 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. | $98,779 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $710,316 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $110,979 |
| Payroll taxes | $58,006 |
| Fees for services: Management | $105,788 |
| Fees for services: Legal | $6,620 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,443 |
| Office expenses | $149,634 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,456 |
| 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 | $179,094 |
| Insurance | $60,742 |
| All other expenses | $0 |
| Total functional expenses | $2,269,933 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,819,335 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $103,563 |
| 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 | $2,035,952 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,791,511 |
| Total assets | $8,750,361 |
| Accounts payable and accrued expenses | $86,108 |
| Grants payable | $0 |
| Deferred revenue | $44,519 |
| 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 | $54,761 |
| Total liabilities | $185,388 |
| Net assets without donor restrictions | $8,564,973 |
| 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 | $8,750,361 |