Contemporary Housing Alternatives Of Florida Inc
- Assets
- $42.1m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 35
- Location
- Clearwater, FL
- Founding
- 05/2002
- Data as of
- 12/2021
- EIN
- 59-3118700
Organization Overview
Contemporary Housing Alternatives Of Florida Inc is located in Clearwater, FL. The organization was established in 2002. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Contemporary Housing Alternatives Of Florida Inc employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Contemporary Housing Alternatives Of Florida 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, Contemporary Housing Alternatives Of Florida Inc generated $6.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $6.2m during the year ending 12/2021. 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
QUALITY AFFORDABLE HOUSING FOR LOW AND MODERATE INCOME PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION HAS BEEN DESIGNATED AS A COMMUNITY HOUSING DEVELOPMENT ORGANIZATION BY THE COMMUNITY DEVELOPMENT AND HOUSING DIVISION OF PINELLAS COUNTY FOR DEVELOPMENT OF AFFORDABLE RENTAL UNITS IN PINELLAS COUNTY. THE ORGANIZATION CURRENTLY HAS OVER SIX HUNDRED UNITS OCCUPIED OR IN VARIOUS PHASES OF DEVELOPMENT OR REHABILITATION WITH SEVERAL NEW PROJECTS IN THE ACQUISITION OR PLANNING STAGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph T Lettelleir President | Officer | 40 | $144,259 |
Don Bogue Chairman | Trustee | 1 | $400 |
Taylor Montgomery Secretary/treasurer | Trustee | 1 | $400 |
Brent Mclean Director | Trustee | 1 | $400 |
John Erik Savitsky Vice Chairman | Trustee | 1 | $200 |
Margo Adams-Reid Director | Trustee | 1 | $200 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Covey Financial Llc Loan Servicing | 12/30/21 | $249,010 |
Drew's Properties Fl Llc Lawn Service | 12/30/21 | $114,935 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,128,900 |
| 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 | $1,128,900 |
| Total Program Service Revenue | $5,468,708 |
| Investment income | $421 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$198,320 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,399,709 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,509 |
| 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. | $150,371 |
| Compensation of current officers, directors, key employees. | $67,864 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,014,414 |
| Pension plan accruals and contributions | $25,776 |
| Other employee benefits | $245,379 |
| Payroll taxes | $92,407 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,025 |
| Fees for services: Accounting | $23,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $149,593 |
| Advertising and promotion | $12,393 |
| Office expenses | $149,917 |
| Information technology | $69,181 |
| Royalties | $0 |
| Occupancy | $911,579 |
| Travel | $52,436 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,043 |
| Interest | $914,093 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,763,360 |
| Insurance | $586,089 |
| All other expenses | $0 |
| Total functional expenses | $6,176,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $355,703 |
| Savings and temporary cash investments | $400,360 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $78,416 |
| 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 | $160,886 |
| Net Land, buildings, and equipment | $39,426,498 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $75,786 |
| Intangible assets | $0 |
| Other assets | $1,622,695 |
| Total assets | $42,120,344 |
| Accounts payable and accrued expenses | $156,763 |
| Grants payable | $0 |
| Deferred revenue | $125,255 |
| 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 | $45,354,730 |
| Unsecured mortgages and notes payable | $148,197 |
| Other liabilities | $313,415 |
| Total liabilities | $46,098,360 |
| Net assets without donor restrictions | -$3,978,016 |
| 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 | $42,120,344 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sunrise Northeast Inc Miami, FL | $3,715,475 | $18,670,620 |
Affordable Housing Preservation Corporation St Augustine, FL | $540,750,555 | $2,294,342 |
Preservation Housing Inc Mobile, AL | $45,095,355 | $8,020,455 |
Nonprofit Housing Preservations Sb Inc Riviera Beach, FL | $13,108,120 | $31,278,179 |
Jewish Association For Residential Care Inc Boca Raton, FL | $7,062,896 | $8,370,046 |
Habitat For Humanity Of Greater Miami Inc Miami, FL | $44,913,698 | $17,755,764 |
Contemporary Housing Alternatives Of Florida Inc Clearwater, FL | $42,120,344 | $6,399,709 |
John Sparks Manor Inc Union City, GA | $0 | $5,675,234 |
Housing And Neighborhood Development Services Of Central Orlando, FL | $22,476,842 | $6,815,149 |
Larry Moore Manor Inc Union City, GA | $0 | $4,277,912 |
Rhg-Afforable Housing Ii Inc Atlanta, GA | $13,550,062 | $7,175,901 |
Broadway Towers Inc Atlanta, GA | $17,531,706 | $3,119,210 |