New River Cottage Inc
- Assets
- $202.7k
- Revenue
- $461.2k
- Investments
- $0.0
- Employees
- 22
- Location
- Sparta, NC
- Founding
- 02/1996
- Data as of
- 06/2022
- EIN
- 56-1423823
Organization Overview
New River Cottage Inc is located in Sparta, NC. The organization was established in 1996. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, New River Cottage Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New River Cottage 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, New River Cottage Inc generated $461.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $643.1k 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
PROVIDE HOUSING TO PEOPLE WITH MENTAL RETARDATION SO THEY CAN LIVE INDEPENDENTLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING AND SUPPORT FOR PEOPLE WITH MENTAL RETARDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Richardson Chairperson | OfficerTrustee | 0.25 | $0 |
Debbie Kovacich Secretary | OfficerTrustee | 0.25 | $0 |
Jane Wyatt Vice Chair | OfficerTrustee | 0.25 | $0 |
Becky Miller Executive Di | Officer | 2 | $0 |
Bj Edwards Director | Trustee | 0.25 | $0 |
Sharon Davis Director | Trustee | 0.25 | $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 | $461,155 |
| Investment income | $5 |
| 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 | $461,160 |
| 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 | $310,948 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $87,675 |
| Payroll taxes | $24,667 |
| 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 | $64,843 |
| Advertising and promotion | $315 |
| Office expenses | $210 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,788 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,721 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,741 |
| Insurance | $5,470 |
| All other expenses | $25,163 |
| Total functional expenses | $643,080 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,975 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,356 |
| 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 | $112,330 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $202,661 |
| Accounts payable and accrued expenses | $8,224 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $203,017 |
| Other liabilities | $0 |
| Total liabilities | $211,241 |
| Net assets without donor restrictions | -$8,580 |
| 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 | $202,661 |
Peer Organizations
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|---|---|---|
Housing Collaborative Charlotte, NC | $3,657,105 | $83,275,604 |
People Incorporated Housing Group Abingdon, VA | $23,796,045 | $13,192,041 |
Habitat For Humanity International Inc Charlottesville, VA | $30,158,834 | $8,198,441 |
Southeastern Housing And Community Development Barnwell, SC | $15,553,642 | $5,568,906 |
Distinctive Housing Solutions Inc Brunswick, GA | $6,407,391 | $5,577,789 |
Student Housing Of America Inc Atlanta, GA | $18,887,768 | $4,459,972 |
Habitat For Humanity International Inc Franklin, TN | $15,154,488 | $5,571,320 |
Piedmont Housing Alliance Incorporated Charlottesville, VA | $40,182,499 | $6,545,967 |
Fairview Housing Management Johnson City, TN | $5,768,830 | $3,674,479 |
Stones River Development Corporation Murfreesboro, TN | $15,999,619 | $139,146 |
Albemarle Housing Improvement Program Inc Charlottesville, VA | $5,877,628 | $5,756,026 |
American Opportunity Foundation Inc Atlanta, GA | $36,469,989 | $25,080,242 |