Norwood Avenue Housing Corporation
- Assets
- $18.5m
- Revenue
- $923.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Sacramento, CA
- Founding
- 08/1992
- Data as of
- 12/2021
- EIN
- 68-0265463
Organization Overview
Norwood Avenue Housing Corporation is located in Sacramento, CA. The organization was established in 1992. According to its NTEE Classification (L50) the organization is classified as: Homeowners & Tenants Associations, 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. Norwood Avenue Housing 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 12/2021, Norwood Avenue Housing Corporation generated $923.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.1% each year . All expenses for the organization totaled $753.4k during the year ending 12/2021. While expenses have increased by 14.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO DEVELOP AND ADVANCE THE SOCIAL, ECONOMIC, AND CHARITABLE WELFARE OF THE COMMUNITY AND TO IMPROVE THE LIVING CONDITIONS OF LOW AND MODERATE-INCOME PEOPLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOW-INCOME HOUSING - DIRECTLY OWNED PROPERTIES PROVIDING AFFORDABLE HOUSING.
OPERATION AND MAINTENANCE OF LOW-INCOME HOUSING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cassandra Jennings Secretary | OfficerTrustee | 0.1 | $0 |
Susana Jackson Treasurer | OfficerTrustee | 0.1 | $0 |
La Shelle Dozier President | OfficerTrustee | 0.1 | $0 |
Brad Wiblin Director | Trustee | 0.1 | $0 |
John Griffin Director | Trustee | 0.1 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $922,977 |
| Investment income | $264 |
| 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 | $923,241 |
| 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 | $17,870 |
| Pension plan accruals and contributions | $538 |
| Other employee benefits | $5,760 |
| Payroll taxes | $3,297 |
| Fees for services: Management | $34,299 |
| Fees for services: Legal | $1,438 |
| Fees for services: Accounting | $24,118 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,810 |
| Advertising and promotion | $10,297 |
| Office expenses | $3,381 |
| Information technology | $0 |
| 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 | $65,216 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $154,565 |
| Insurance | $35,186 |
| All other expenses | $98,064 |
| Total functional expenses | $753,399 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $349,761 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $680,394 |
| 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 | $18,871 |
| Net Land, buildings, and equipment | $14,405,121 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,078,632 |
| Total assets | $18,532,779 |
| Accounts payable and accrued expenses | $112,470 |
| 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 | $15,803,982 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | -$170,109 |
| Total liabilities | $15,746,343 |
| Net assets without donor restrictions | $0 |
| 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 | $2,786,436 |
| Total liabilities and net assets/fund balances | $18,532,779 |
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