Project Faith Inc
- Assets
- $1.1m
- Revenue
- $182.3k
- Investments
- $0.0
- Employees
- 3
- Location
- King George, VA
- Founding
- 01/2002
- Data as of
- 12/2017
- EIN
- 54-2031481
Organization Overview
Project Faith Inc is located in King George, VA. The organization was established in 2002. 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. As of 12/2017, Project Faith Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Project Faith 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 12/2017, Project Faith Inc generated $182.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (33.1%) each year. All expenses for the organization totaled $326.3k during the year ending 12/2017. 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HOUSING AND SUPPORT SERVICES FOR LOW INCOME ELDERLY AND DISADAANTGED PEOPLE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HOUSING ASSISTANCE FOR LOWER INCOME PEOPLE
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phyllis Ashton President | OfficerTrustee | 2 | $0 |
Gail Mabe Second Vice President | OfficerTrustee | 2 | $0 |
Judy Bowens Vice President | OfficerTrustee | 2 | $0 |
Perry Scranage Director | Trustee | 2 | $0 |
Earlene Cumberlander Director | Trustee | 2 | $0 |
Barbara Finks Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $17,890 |
| 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 | $17,890 |
| Total Program Service Revenue | $164,381 |
| Investment income | $29 |
| 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 | $182,300 |
| 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 | $79,107 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,839 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,181 |
| Travel | $375 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23,238 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,702 |
| Insurance | $7,912 |
| All other expenses | $161,351 |
| Total functional expenses | $326,329 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,351 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,099 |
| 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 | $1,269 |
| Net Land, buildings, and equipment | $1,079,450 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,447 |
| Total assets | $1,097,616 |
| Accounts payable and accrued expenses | $74,906 |
| Grants payable | $0 |
| Deferred revenue | $1,050 |
| 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 | $885,122 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $39,609 |
| Total liabilities | $1,000,687 |
| Unrestricted restricted net Assets | $96,929 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $96,929 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Project Faith Inc has recieved totaling $7,000.
| Awarding Organization | Amount |
|---|---|
Virginia Community Development Corp Richmond, VA PURPOSE: SUPPORT | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Housing Partners Corporation Christiansburg, VA | $210,530,324 | $87,907,515 |
Enterprise Community Development Inc Columbia, MD | $150,433,261 | $43,987,858 |
Skill Creations Inc Goldsboro, NC | $13,834,048 | $44,435,808 |
Renewal Housing Inc North Bethesda, MD | $14,557,789 | $3,551,240 |
Habitat For Humanity International Inc Raleigh, NC | $48,704,094 | $32,190,331 |
Montage Living Charlotte, NC | $133,680,991 | $23,940,845 |
Washington Housing Conservancy Inc Washington, DC | $420,260,184 | $21,973,797 |
Ahc Inc Arlington, VA | $252,147,992 | $33,394,070 |
Habitat For Humanity International Inc Charlotte, NC | $71,967,554 | $27,686,341 |
Frontline Community Services Inc Beltsville, MD | $6,957,560 | $20,985,182 |
Montgomery Housing Partnership Inc Silver Spring, MD | $117,127,971 | $17,924,784 |
Enterprise Community Loan Fund Inc Columbia, MD | $332,804,742 | $25,996,753 |