Meadows Housing Corporation Inc
- Assets
- $1.8m
- Revenue
- $599.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Cordova, TN
- Founding
- 10/1989
- Data as of
- 12/2021
- EIN
- 58-1851127
Organization Overview
Meadows Housing Corporation Inc is located in Cordova, TN. The organization was established in 1989. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meadows Housing Corporation 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 12/2021, Meadows Housing Corporation Inc generated $599.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (20.3%) each year. All expenses for the organization totaled $569.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.9%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING AND SERVICES TO LOW, VERY LOW, AND EXTREMELY LOW INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING AND SERVICES TO LOW, VERY LOW, AND EXTREMELY LOW INCOME FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Andy Thompson Chairperson | OfficerTrustee | 2 | $0 |
Nancy Albonetti Vice Chairperson | OfficerTrustee | 2 | $0 |
Mary Lou Cushing Secretary/treasurer | OfficerTrustee | 2 | $0 |
James Nasso Non-Voting CEO | Officer | 1 | $0 |
Donald Ollio Non-Voting CFO | Officer | 1 | $0 |
Ronald Budynas Non-Voting COO | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $354,726 |
| 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 | $354,726 |
| Total Program Service Revenue | $244,639 |
| Investment income | $6 |
| 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 | $599,371 |
| 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 | $92,317 |
| Pension plan accruals and contributions | $1,900 |
| Other employee benefits | $15,826 |
| Payroll taxes | $5,617 |
| Fees for services: Management | $37,902 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $34,132 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,671 |
| Office expenses | $9,192 |
| Information technology | $8,667 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,919 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $947 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $106,216 |
| Insurance | $95,636 |
| All other expenses | $8,761 |
| Total functional expenses | $569,457 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $156,313 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $14,579 |
| 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 | $76,526 |
| Net Land, buildings, and equipment | $1,431,753 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $125,603 |
| Total assets | $1,804,774 |
| Accounts payable and accrued expenses | $155,457 |
| Grants payable | $0 |
| Deferred revenue | $3,058 |
| 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 | $1,208,838 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $32,751 |
| Total liabilities | $1,400,104 |
| Net assets without donor restrictions | $404,670 |
| 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 | $1,804,774 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Meadows Housing Corporation Inc has recieved totaling $1,000,000.
| Awarding Organization | Amount |
|---|---|
St Peter Manor Llc Cordova, TN PURPOSE: TO PROVIDE HOUSING AND SERVICES TO LOW, VERY LOW, AND EXTREMELY LOW INCOME FAMILIES | $1,000,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Community Housing Partners Corporation Christiansburg, VA | $210,530,324 | $87,907,515 |
Skill Creations Inc Goldsboro, NC | $13,834,048 | $44,435,808 |
Habitat For Humanity International Inc Raleigh, NC | $48,704,094 | $32,190,331 |
Montage Living Charlotte, NC | $133,680,991 | $23,940,845 |
Ahc Inc Arlington, VA | $252,147,992 | $33,394,070 |
Habitat For Humanity International Inc Charlotte, NC | $71,967,554 | $27,686,341 |
Habitat For Humanity In Atlanta Inc Atlanta, GA | $81,551,003 | $20,263,546 |
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Big Canoe Property Owners Association Inc And Subsidiary Big Canoe, GA | $48,180,026 | $19,159,834 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |
Alexandria Housing Development Corporation Alexandria, VA | $129,711,642 | $8,689,601 |
Habitat For Humanity Of Greater Nashville Nashville, TN | $71,491,096 | $16,513,254 |