I C Corporation
- Assets
- $3.6m
- Revenue
- $1.1m
- Investments
- $7.4k
- Employees
- 8
- Location
- Roanoke, VA
- Founding
- 08/1983
- Data as of
- 06/2022
- EIN
- 52-1302828
Organization Overview
I C Corporation is located in Roanoke, VA. The organization was established in 1983. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, I C Corporation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. I C 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 06/2022, I C Corporation generated $1.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $958.4k during the year ending 06/2022. 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
TO PROVIDE HOUSING FOR THE ELDERLY AND HANDICAPPED
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING FOR ELDERLY AND HANDICAPPED INDVIDUALS. THIS ORGANIZATION DOES NOT DISCRIMINATE ON THE BASIS OF RACE, SEX, RELIGION, OR NATIONAL ORIGIN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gayle N Fronkier President | OfficerTrustee | 0.3 | $0 |
Deborah Dail Treasurer | OfficerTrustee | 0.3 | $0 |
Michael Mannen Vice-President | OfficerTrustee | 0.3 | $0 |
Iris Labuda Director | Trustee | 0.3 | $0 |
Paula Ogiba Director | Trustee | 0.3 | $0 |
Suzann Outten Director | Trustee | 0.3 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,129,680 |
| Investment income | $1,085 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,062 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,127,703 |
| 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 | $191,988 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,398 |
| Payroll taxes | $12,942 |
| Fees for services: Management | $67,750 |
| Fees for services: Legal | $3,426 |
| Fees for services: Accounting | $20,982 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,126 |
| Office expenses | $48,614 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $67,563 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $90,235 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $237,308 |
| Insurance | $69,751 |
| All other expenses | $13,825 |
| Total functional expenses | $958,356 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $86,423 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,064 |
| 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 | $1,330 |
| Net Land, buildings, and equipment | $2,060,063 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,414 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,421,523 |
| Total assets | $3,607,017 |
| Accounts payable and accrued expenses | $74,673 |
| Grants payable | $0 |
| Deferred revenue | $4,693 |
| 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 | $2,809,235 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $36,365 |
| Total liabilities | $2,924,966 |
| Net assets without donor restrictions | $682,051 |
| 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 | $3,607,017 |
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