Inner-City Revitalization Corporation
- Assets
- $3.1m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 3
- Location
- Alexandria, LA
- Founding
- 03/1998
- Data as of
- 12/2021
- EIN
- 72-1402559
Organization Overview
Inner-City Revitalization Corporation is located in Alexandria, LA. The organization was established in 1998. According to its NTEE Classification (L30) the organization is classified as: Housing Search Assistance, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Inner-City Revitalization Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Inner-City Revitalization 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, Inner-City Revitalization Corporation generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.6% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 17.3% 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
PROVIDING CLEAN, HEALTHFUL, SAFE AND AFFORDABLE HOUSING FOR LOW INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OLIVE HOUSE - TRANSITIONAL HOUSING AND OTHER LOW INCOME RENTAL HOUSING
BUILDING OF SINGLE FAMILY RESIDENCES FOR SALE TO LOW INCOME INDIVIDUALS AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Virginia Brown Chair | Officer | 1 | $0 |
Randalle Moore Secretary | Officer | 1 | $0 |
Sandra Augustine Director | Trustee | $0 | |
Andrew Bindursky Director | Trustee | $0 | |
Maxine Bradley Director | Trustee | $0 | |
Ronald Dejoie Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $645,462 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,034 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $668,496 |
| Total Program Service Revenue | $707,872 |
| Investment income | $3,052 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,920 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,423,082 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $70,316 |
| 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 | $139,529 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $22,306 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60 |
| Fees for services: Accounting | $17,399 |
| 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 | $7,000 |
| 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 | $1,282 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $65,625 |
| Insurance | $24,609 |
| All other expenses | $54,927 |
| Total functional expenses | $1,178,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $767,962 |
| Savings and temporary cash investments | $263,630 |
| 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 | $529,101 |
| Inventories for sale or use | $502 |
| Prepaid expenses and deferred charges | $5,013 |
| Net Land, buildings, and equipment | $1,486,717 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,200 |
| Total assets | $3,054,125 |
| Accounts payable and accrued expenses | $6,933 |
| 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 | $13,608 |
| Total liabilities | $20,541 |
| Net assets without donor restrictions | $2,083,928 |
| Net assets with donor restrictions | $949,656 |
| 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 | $3,054,125 |
Endowment Analysis
| Beg. Balance | $3,194 |
| Earnings | $281 |
| Ending Balance | $3,475 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Inner-City Revitalization Corporation Alexandria, LA | $3,054,125 | $1,423,082 |
Briargrove Property Owners Inc Houston, TX | $808,058 | $1,011,416 |
Grammies Cottage Porter, TX | $34,581 | $449,156 |
Community Housing Resource Board Of Lubbock Lubbock, TX | $2,433,917 | $394,544 |
Canton I Inc Lakeway, TX | $2,787,942 | $372,242 |
Fostering Change Foundation Inc Greenwood, LA | $17,512 | $0 |
Wolf River Conservation Society Inc Pass Christian, MS | $63,676 | $0 |
Odessa Affordable Housing Inc Odessa, TX | $616,672 | $16,514 |