Terry Homes Inc
- Assets
- $365.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Timonium, MD
- Founding
- 03/2001
- Data as of
- 06/2022
- EIN
- 52-2284384
Organization Overview
Terry Homes Inc is located in Timonium, MD. The organization was established in 2001. 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. Terry 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, Terry Homes Inc generated $67.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $78.1k during the year ending 06/2022. While expenses have increased by 2.5% per year over the past 7 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
TERRY HOMES, INC. WAS ORGANIZED IN NOVEMBER 2000 UNDER THE PROVISIONS OF THE STATE OF MARYLAND FOR THE PURPOSE OF ACQUIRING AND CONSTRUCTING HOUSING AND RELATED FACILITIES FOR PERSONS WHO SUFFER FROM CHRONIC MENTAL ILLNESS. THE ENTITY WAS FINANCED THROUGH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") UNDER SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT AND CONSISTS OF 9 UNITS. SUCH PROJECTS ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Norman President | 0.25 | $0 | |
Mark Lawrence Vice President | 0.25 | $0 | |
David Weiss Secretary | 0.25 | $0 | |
Jeff Richardson Treasurer | 0.25 | $0 | |
Clair Dennis-Tupak Board Member | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $56,366 |
| Total Program Service Revenue | $11,429 |
| Membership dues | $0 |
| Investment income | $2 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $67,797 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $15,422 |
| Occupancy, rent, utilities, and maintenance | $35,152 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $27,563 |
| Total expenses | $78,137 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $21,339 |
| Other assets | $0 |
| Total assets | $365,499 |
| Total liabilities | $102,148 |
| Net assets or fund balances | $263,351 |