Community Action Network Inc
- Assets
- $1.4m
- Revenue
- $350.0k
- Investments
- $0.0
- Employees
- 4
- Location
- Springville, TN
- Founding
- 09/2006
- Data as of
- 12/2023
- EIN
- 61-1492579
Organization Overview
Community Action Network Inc is located in Springville, TN. The organization was established in 2006. 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. As of 12/2023, Community Action Network Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Action Network 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 12/2023, Community Action Network Inc generated $350.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 27.6% each year . All expenses for the organization totaled $199.0k during the year ending 12/2023. While expenses have increased by 1.7% per year over the past 5 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
COMMUNITY ACTION NETWORK, INC (CAN) PROMOTES RURAL DEVELOPMENT BY PROVIDING AFFORDABLE HOUSING OPPORTUNITIES THROUGH ACQUISITION/REHAB RESALE, HOMEBUYER EDUCATION, HOMELESS ASSISTANCE, AND REPAIR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL FOR LOW INCOME FAMILIES INCLUDING RENTAL ASSISTANCE PROGRAM AND PROVIDING HOUSING COUNSELING TO 27 FAMILIES.
RESOURCES AND DONATIONS TO PROVIDE HOMEOWNER REPAIR PROGRAM. POST-PURCHASE HOUSING COUNSELING WHEELCHAIR RAMP CONSTRUCTION, AND HOME MODIFICATION/REPAIR TO 20 LOW-INCOME FAMILIES.
ACQUISITION/REHAB FOR LOW INCOME FAMILIES TO ACQUIRE HOMES. THE LOW INCOME HOMEBUYERS RECEIVE SUBSIDY REDUCTION TO PURCHASE HOMES AND CAN IS THE MORTGAGE HOLDER FOR 10 YEARS AT 0% INTEREST. CAN SERVED 5 HOMEBUYERS TO ACQUIRE HOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherry Rose Secretary/treasurer | OfficerTrustee | 1 | $0 |
Marian Paschall Chairperson | OfficerTrustee | 2 | $0 |
Ronnie Cuthbertson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $78,507 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,301 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $80,808 |
| Total Program Service Revenue | $258,498 |
| Investment income | $10,727 |
| 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 | $350,033 |
| 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 | $40,525 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,949 |
| Payroll taxes | $3,412 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $853 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,604 |
| Travel | $17,338 |
| 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 | $698 |
| Insurance | $3,181 |
| All other expenses | $0 |
| Total functional expenses | $198,981 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,386 |
| Savings and temporary cash investments | $673,055 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $648,573 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,375,014 |
| Accounts payable and accrued expenses | $4,294 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,294 |
| Net assets without donor restrictions | $1,370,720 |
| 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 | $1,375,014 |