Iona House Corporation
- Assets
- $1.2m
- Revenue
- $80.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Bonita Springs, FL
- Founding
- 07/2003
- Data as of
- 12/2022
- EIN
- 65-0421306
Organization Overview
Iona House Corporation is located in Bonita Springs, FL. The organization was established in 2003. 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. Iona House 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 12/2022, Iona House Corporation generated $80.3k 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 (25.3%) each year. All expenses for the organization totaled $112.4k during the year ending 12/2022. 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
IONA SEEKS TO MOVE FAMILIES FROM SUBSIDIZED HOUSING TO THAT OF THE MARKET. ALL ANNUAL RENT INCREASES GO INTO A SAVINGS PROGRAM WHICH IS PROVIDED TO THE TENANT UPON THE END OF THE TENANCY. EVENTUALLY, THE TENANT WILL HAVE ENOUGH FUNDING FOR THE DOWN PAYMENT OF HOME PURCHASE OR ABLE TO AFFORD MARKET RATE RENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
USING A MODEL THAT INVOLVES ACCOUNTABILITY, HAVE PROVIDED LOW-INCOME RENTAL HOUSING TO FAMILIES FOR 30 YEARS. ASSIST WILLING FAMILIES TO WORK TOWARD INDEPENDENCE.
DEVELOPING SITE PLAN FOR 3-BEDROOM, 2 BATH MULTIFAMILY RENTAL RESIDENCES ON 2.5 ACRES IN BLIGHTED AREA OF THE COMMUNITY. COLLABORATING WITH LOCAL AGENCIES, A MODEL FOR FOSTERING TENANT INDEPENDENCE AND WHOLENESS WILL ALLOW CONTINUAL FLOW OF NEW RESIDENTS. PRE-ENGINEERED CONSTRUCTION PACKAGE PURCHASED FOR 3-BEDROOM, 2-BATH RENTAL HOME ON SINGLE FAMILY LOT.
DEVELOPED "NO INTEREST LOAN" PROGRAM FOR UTILITIES AND HOUSING NEEDS. REPAYMENT MADE FINANCIALLY OR THROUGH "GIVING BACK" TO THE COMMUNITY. CASE MANAGEMENT COORDINATED WITH A LOCAL AGENCY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Gill Director | Trustee | 1 | $0 |
Charles Kaluza Director | Trustee | 1 | $0 |
Donald Trew Director | Trustee | 1 | $0 |
Joseph Gallagher President | Officer | 4 | $0 |
Rigoberto Rodriguez Vice-President | Officer | 8 | $0 |
Paul Kiernan Secretary/treasurer | Officer | 3 | $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 | $510 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $510 |
| Total Program Service Revenue | $78,100 |
| Investment income | $1,700 |
| 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 | $80,310 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $755 |
| 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 | $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 | $5,201 |
| Advertising and promotion | $0 |
| Office expenses | $508 |
| Information technology | $492 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $8,893 |
| All other expenses | $96,573 |
| Total functional expenses | $112,422 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,433 |
| Savings and temporary cash investments | $643,647 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $552,551 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,209,631 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,209,631 |
| 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 | $1,209,631 |
Grants Awarded
Over the last fiscal year, Iona House Corporation has awarded $10,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
OUR LADY OF FATIMA SEMINARIAN FUND INC PURPOSE: To provide housing assitance to low income families | $5,000 |
PROVIDENCE HOUSE INC PURPOSE: To provide housing assitance to low income families | $5,000 |