Vintage Housing Inc
- Assets
- $55.4m
- Revenue
- $6.6m
- Investments
- $0.0
- Employees
- 31
- Location
- Tulsa, OK
- Founding
- 01/1996
- Data as of
- 12/2023
- EIN
- 73-1473840
Organization Overview
Vintage Housing Inc is located in Tulsa, OK. The organization was established in 1996. 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 12/2023, Vintage Housing Inc employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vintage Housing 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 12/2023, Vintage Housing Inc generated $6.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $4.8m during the year ending 12/2023. While expenses have increased by 9.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOP SAFE, ATTRACTIVE, AFFORDABLE HOUSING FOR SENIORS IN AN ENVIRONMENT THAT SUSTAINS INDEPENDENCE AND SUPPORTS RESIDENTS AS THEY AGE IN PLACE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VINTAGE HOUSING, INC. (VHI) DEVELOPS SAFE, ATTRACTIVE, AFFORDABLE HOUSING FOR SENIORS IN AN ENVIRONMENT THAT SUSTAINS INDEPENDENCE AND SUPPORTS RESIDENTS AS THEY AGE. THROUGH ITS AFFILIATION WITH LIFE SENIOR SERVICES, VINTAGE HOUSING IS ABLE TO OFFER RESIDENTS ACCESS TO ADDITIONAL AGING SUPPORTS, SUCH AS CASE MANAGEMENT AND MEDICAL CARE THROUGH THE AFFILIATED LIFE PACE PROGRAM. NINETEEN APARTMENT COMMUNITIES IN TULSA (7), JENKS, SAPULPA, BRISTOW, SKIATOOK, COWETA, BROKEN ARROW (2), BIXBY, COLLINSVILLE (2), GLENPOOL, AND SAND SPRINGS ARE DESIGNED FOR INDEPENDENT SENIOR LIVING. RENTS ARE RESTRICTED TO BELOW-MARKET LEVELS AS DETERMINED BY THE U.S. DEPARTMENT OF HOUSING AND THE URBAN DEVELOPMENT (HUD) AND RESIDENTS MUST EARN 60% OR LESS OF THE AREA MEDIAN INCOME TO QUALIFY. IN 2023 VINTAGE HOUSING ELECTED TO ESTABLISH ITS OWN PROPERTY MANAGEMENT COMPANY TO BETTER RESPOND TO ITS RESIDENTS' NEEDS, ENSURE PROPERTIES ARE WELL MAINTAINED, AND PROVIDE ITS STAKEHOLDERS WITH TIMELY INFORMATION. TO THAT END, EFFECTIVE 5/1/23, VINTAGE MANAGEMENT TOOK RESPONSIBILITY FOR MANAGING ALL OF ITS PROPERTIES WITH THE EXCEPTION OF WHITTIER HEIGHTS, WHICH REMAINS UNDER THE MANAGEMENT OF WILHOIT PROPERTIES. AS A RESULT OF TAKING ON PROPERTY MANAGEMENT, SOME VINTAGE HOUSING EXPENSE CATEGORIES EXPANDED IN ORDER TO REFLECT EXPENSES WHICH MAY HAVE PREVIOUSLY BEEN REPORTED AS CONTRACTED SERVICES WHEN UNDER THIRD-PARTY MANAGEMENT. VHI IS THE GENERAL PARTNER OF FOUR LIMITED PARTNERSHIPS WHICH WERE ORGANIZED TO DEVELOP OR REHABILITATE AND OPERATE SENIOR INDEPENDENT LIVING APARTMENT COMPLEXES AND IS THE FULL OWNER OF FIFTEEN HOUSING PROJECTS, THIRTEEN OF WHICH ARE HELD IN SEPARATE LLCS. HERITAGE LANDING AND KENOSHA LANDING ARE DIVISIONS OF VHI. THE THIRTEEN SEPARATE LLCS OPERATE UNDER THE DBAS OF AUTUMN PARK, CARDINAL HEIGHTS, CARRIAGE CROSSING, CORNERSTONE VILLAGE, COUNTRY OAKS, PARK VILLAGE, PIONEER VILLAGE, PRARIE VILLAGE, REDBUD VILLAGE, VANDEVER HOUSE, WEST OAK VILLAGE, WHITTIER VILLAS AND WOODLAND VILLAGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Eagleton President | OfficerTrustee | 3 | $0 |
Bill Hirsch Vice-Pesiden | OfficerTrustee | 3 | $0 |
Tom O'brien Secretary | OfficerTrustee | 3 | $0 |
Rod Nordstrom Treasurer | OfficerTrustee | 3 | $0 |
Maria Veliz Barnes Director | Trustee | 3 | $0 |
Bob Rock Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,332,612 |
| 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 | $1,332,612 |
| Total Program Service Revenue | $3,568,401 |
| Investment income | $49,533 |
| 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 | $6,601,920 |
| 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 | $1,110,641 |
| Pension plan accruals and contributions | $12,156 |
| Other employee benefits | $36,952 |
| Payroll taxes | $33,490 |
| Fees for services: Management | $54,714 |
| Fees for services: Legal | $93,251 |
| Fees for services: Accounting | $14,880 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $389,756 |
| Advertising and promotion | $0 |
| Office expenses | $41,899 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,326,802 |
| Travel | $12,445 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,600 |
| Interest | $58,639 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,274,719 |
| Insurance | $369,421 |
| All other expenses | $1,056 |
| Total functional expenses | $4,834,421 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $647,827 |
| Savings and temporary cash investments | $1,040,052 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $963,595 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $22,658,003 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $182,035 |
| Net Land, buildings, and equipment | $28,715,598 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,151,433 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $55,358,543 |
| Accounts payable and accrued expenses | $772,361 |
| Grants payable | $0 |
| Deferred revenue | $22,595,003 |
| 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 | $16,708,713 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,112,006 |
| Total liabilities | $41,188,083 |
| Net assets without donor restrictions | $14,170,460 |
| 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 | $55,358,543 |