Partnership Homes Inc
- Assets
- $10.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Greensboro, NC
- Founding
- 10/1998
- Data as of
- 12/2022
- EIN
- 56-2071035
Organization Overview
Partnership Homes Inc is located in Greensboro, NC. The organization was established in 1998. According to its NTEE Classification (L80) the organization is classified as: Housing Support, 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. Partnership 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 12/2022, Partnership Homes Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.9% each year . All expenses for the organization totaled $1.2m during the year ending 12/2022. While expenses have increased by 15.5% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT AND OPERATION OF AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT OF AFFORDABLE HOUSING FOR FORMERLY HOMELESS INDIVIDUALS AND FAMILIES AND THOSE THREATENED WITH HOMELESSNESS.
OWN AND OPERATE A 32 UNIT APARTMENT COMPLEX FOR FORMERLY HOMELESS INDIVIDUALS KNOWN AS PARTNERSHIP VILLAGE I.
OWN AND OPERATE A 12 UNIT APARTMENT COMPLEX FOR FORMERLY HOMELESS FAMILIES KNOWN AS PARTNERSHIP VILLAGE III.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Cooke President | OfficerTrustee | 1 | $0 |
Jim Clontz Chairman | OfficerTrustee | 30 | $0 |
Ramona Carl Secretary | OfficerTrustee | 1 | $0 |
Keith Burris Treasurer | OfficerTrustee | 1 | $0 |
William Cooke Board Member | Trustee | 0.5 | $0 |
Judy Newlin Board Member | Trustee | 0.5 | $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 | $1,072,722 |
| Investment income | $68 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$17,362 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,056,016 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $71,320 |
| Fees for services: Legal | $24,011 |
| Fees for services: Accounting | $33,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $60,720 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $245,163 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $252,641 |
| Insurance | $5,290 |
| All other expenses | $5,378 |
| Total functional expenses | $1,223,544 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $452,419 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,345 |
| 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 | $16,736 |
| Net Land, buildings, and equipment | $8,931,959 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $8,640 |
| Other assets | $528,789 |
| Total assets | $9,954,888 |
| Accounts payable and accrued expenses | $34,738 |
| Grants payable | $0 |
| Deferred revenue | $11,522 |
| 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 | $9,537,862 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $19,699 |
| Total liabilities | $9,603,821 |
| Net assets without donor restrictions | $351,067 |
| 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 | $9,954,888 |