Homeownership Center Inc
- Assets
- $2.1m
- Revenue
- $416.6k
- Investments
- $0.0
- Employees
- 6
- Location
- Elkins, WV
- Founding
- 09/1998
- Data as of
- 09/2023
- EIN
- 55-0760268
Organization Overview
Homeownership Center Inc is located in Elkins, WV. The organization was established in 1998. 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, Homeownership Center Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Homeownership Center 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 09/2023, Homeownership Center Inc generated $416.6k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $399.6k during the year ending 09/2023. While expenses have increased by 6.7% per year over the past 6 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
PROVIDING ALL ASPECTS OF HOMEOWNERSHIP SERVICES TO AREA FAMILIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ALL ASPECTS OF HOUSING AND FINANCIAL COUNSELING TO FIRST-TIME HOMEBUYERS (APPROXIMATELY 252 FAMILIES); LOAN SERVICES; PROVIDING LOW INTEREST LOANS TO HOMEBUYERS FOR ACQUISITION, CONSTRUCTION, AND/OR REPAIRS TO HOME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Graham Godwin Member | Trustee | 2 | $0 |
Brittany Hicks Member | Trustee | 2 | $0 |
Katie Marcum Member | Trustee | 2 | $0 |
Joseph Solberg Member | Trustee | 2 | $0 |
Steve Nida President | Officer | 2 | $0 |
Brad Schumacher Vice President | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $297,490 |
| 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 | $297,490 |
| Total Program Service Revenue | $83,123 |
| Investment income | $27,223 |
| 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 | $416,593 |
| 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. | $35,093 |
| Compensation of current officers, directors, key employees. | $11,932 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $174,023 |
| Pension plan accruals and contributions | $9,659 |
| Other employee benefits | $37,245 |
| Payroll taxes | $16,649 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,424 |
| Advertising and promotion | $9,364 |
| Office expenses | $4,475 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $12,807 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,014 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,527 |
| Insurance | $4,149 |
| All other expenses | $7,544 |
| Total functional expenses | $399,597 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,463,757 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,553 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $471,293 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,031 |
| Net Land, buildings, and equipment | $124,368 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,076,002 |
| Accounts payable and accrued expenses | $39,002 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $29,219 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $68,221 |
| Net assets without donor restrictions | $2,007,781 |
| 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 | $2,076,002 |