East Tennessee Housing Development Corporation
- Assets
- $1.1m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 2
- Location
- Knoxville, TN
- Founding
- 09/1994
- Data as of
- 06/2022
- EIN
- 62-1544702
Organization Overview
East Tennessee Housing Development Corporation is located in Knoxville, TN. The organization was established in 1994. 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, East Tennessee Housing Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Tennessee Housing Development Corporation 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, East Tennessee Housing Development Corporation generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 43.2% each year . All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 33.8% per year over the past 7 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
COMMUNITY HOUSING DEVELOPMENT CORPORATION PROVIDING QUALITY, ENERGY EFFICIENT HOMES FOR LOW-INCOME RESIDENTS. COSTS ARE SUBSIDIZED BY HUD AS PART OF THE HOME INVESTMENT PARTNERSHIPS PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVED AS COMMUNITY HOUSING DEVELOPMENT ORGANIZATION (CHDO): PURCHASED AND RENOVATED HOMES WHICH RESULTED IN THE TRANSFER OF RENOVATED, ENERGY EFFICIENT HOMES TO LOW-INCOME HOMEBUYERS WHO MET THE QUALIFICATIONS UNDER THE HOME INVESTMENT PARTERSHIPS PROGRAM PARTNERSHIPS PROGRAM. IN ADDITION, PROVIDED AFFORDABLE HOUSING RENTALS FOR LOW-INCOME RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daisy Perez Treasurer | OfficerTrustee | 2 | $0 |
Frank Sparkman Co-Chairman | OfficerTrustee | 2 | $0 |
Rev Joseph Smith Co-Chairman | OfficerTrustee | 2 | $0 |
Jeneane Stomm Secretary | OfficerTrustee | 2 | $0 |
David Dupree Member | Trustee | 0.5 | $0 |
Lynn Clemons Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $390,772 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $398,272 |
| Total Program Service Revenue | $665,001 |
| Investment income | $262 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,231 |
| 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 | $1,065,766 |
| 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 | $189,065 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,375 |
| Payroll taxes | $14,597 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,142 |
| 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 | $6,665 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,867 |
| 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 | $10,528 |
| Insurance | $640 |
| All other expenses | $70,510 |
| Total functional expenses | $1,076,072 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $550,146 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $177,600 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $175,658 |
| Prepaid expenses and deferred charges | $500 |
| Net Land, buildings, and equipment | $220,653 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $300 |
| Total assets | $1,124,857 |
| Accounts payable and accrued expenses | $0 |
| 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 | $579,943 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,800 |
| Total liabilities | $582,743 |
| Net assets without donor restrictions | $338,968 |
| Net assets with donor restrictions | $203,146 |
| 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 | $1,124,857 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
People Incorporated Housing Group Abingdon, VA | $23,796,045 | $13,192,041 |
New Directions Housing Corporation Louisville, KY | $27,737,851 | $9,868,214 |
Habitat For Humanity International Inc Charlottesville, VA | $30,158,834 | $8,198,441 |
Cedar Lake Residences Inc Louisville, KY | $2,301,086 | $7,918,008 |
Justine Petersen Housing And Reinvestment Corporation Saint Louis, MO | $49,338,747 | $7,649,655 |
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 |
Appalachian Foothills Housing Agency Incorporated Wurtland, KY | $1,707,535 | $4,881,556 |
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 |
Habitat For Humanity International Inc Joplin, MO | $7,929,648 | $3,491,454 |