Island Place Inc is located in Ferriday, LA. The organization was established in 2001. 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 09/2023, Island Place Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Island Place 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 09/2023, Island Place Inc generated $83.5k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $135.8k during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LOW INCOME ELDERLY HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A 16 UNIT APARTMENT COMPLEX FOR LOW INCOME ELDERLY PERSONS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Dwayne Guice Director | Trustee | 0.5 | $0 |
Debra Walker Secretary | OfficerTrustee | 0.5 | $0 |
Guy Barfield Director | Trustee | 0.5 | $0 |
Rev Michael Owens Director | Trustee | 0.5 | $0 |
Phyllis White Chairman | OfficerTrustee | 1 | $0 |
Amberson Hayes Wade Director | Trustee | 0.5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $51,001 |
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 | $51,001 |
Total Program Service Revenue | $32,369 |
Investment income | $154 |
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 | $83,524 |
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 | $19,870 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $8,054 |
Payroll taxes | $1,674 |
Fees for services: Management | $6,134 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $5,601 |
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 | $16,430 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $6,048 |
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 | $23,755 |
Insurance | $21,985 |
All other expenses | $1,287 |
Total functional expenses | $135,847 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $135 |
Savings and temporary cash investments | $0 |
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 | $518,730 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $35,719 |
Total assets | $554,584 |
Accounts payable and accrued expenses | $22,083 |
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 | $3,360 |
Total liabilities | $25,443 |
Net assets without donor restrictions | -$403,324 |
Net assets with donor restrictions | $932,465 |
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 | $554,584 |