Erc Foundation Inc
- Assets
- $7.9m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 71
- Location
- Little Rock, AR
- Founding
- 02/1984
- Data as of
- 06/2022
- EIN
- 71-0569731
Organization Overview
Erc Foundation Inc is located in Little Rock, AR. The organization was established in 1984. 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 06/2022, Erc Foundation Inc employed 71 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Erc Foundation 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 06/2022, Erc Foundation Inc generated $3.1m 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 (6.2%) each year. All expenses for the organization totaled $3.8m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 7 years. 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
PROVIDE ELDERLY/HANDICAPPED HOUSING AND ASSISTED LIVING SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE RENTAL APARTMENTS AND ASSISTED LIVING SERVICES TO ELDERLY AND HANDICAPPED CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chandra Vaughn COO | Officer | 20 | $89,878 |
J Mark Davis CEO | OfficerTrustee | 20 | $76,278 |
Daniel Oberste Chairman | OfficerTrustee | 1 | $0 |
Jan R Sullivan MD Secretary | OfficerTrustee | 1 | $0 |
Ronald E Meyers Treasurer | OfficerTrustee | 1 | $0 |
Mardi Blissard Member | Trustee | 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 | $2,863 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,863 |
| Total Program Service Revenue | $2,975,600 |
| Investment income | $92,407 |
| 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 | $3,070,870 |
| 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 | $1,212,384 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $144,480 |
| Payroll taxes | $83,489 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $349 |
| Fees for services: Accounting | $22,287 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,015 |
| Office expenses | $52,178 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,006,947 |
| Travel | $4,915 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $187,097 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $515,180 |
| Insurance | $243,329 |
| All other expenses | $0 |
| Total functional expenses | $3,813,596 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $581,318 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $504 |
| 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 | $22,298 |
| Net Land, buildings, and equipment | $3,463,084 |
| Investments—publicly traded securities | $2,676,950 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,119,498 |
| Total assets | $7,863,652 |
| Accounts payable and accrued expenses | $188,075 |
| 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 | $3,182,857 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $363,226 |
| Total liabilities | $3,734,158 |
| Net assets without donor restrictions | $4,129,494 |
| 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 | $7,863,652 |
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