Pasadena Interfaith Housing Foundation Inc
- Assets
- $2.7m
- Revenue
- $1.9m
- Investments
- $30.8k
- Employees
- 0
- Location
- Pasadena, TX
- Founding
- 09/1980
- Data as of
- 06/2022
- EIN
- 74-1999427
Organization Overview
Pasadena Interfaith Housing Foundation Inc is located in Pasadena, TX. The organization was established in 1980. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, 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. Pasadena Interfaith Housing 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, Pasadena Interfaith Housing Foundation Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $1.8m during the year ending 06/2022. 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
PASADENA INTERFAITH HOUSING FOUNDATION, INC. (A TEXAS NOT-FOR-PROFIT CORPORATION) WAS ORGANIZED TO OWN AND OPERATE A 176 UNIT APARTMENT COMMUNITY IN PASADENA, TEXAS, KNOWN AS PASADENA INTERFAITH MANOR (THE "COMMUNITY"). THE CORPORATION HAS ENTERED INTO AND IS GOVERNED BY A REGULATORY AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). THE PROJECT, THROUGH A HOUSING ASSISTANCE PAYMENTS CONTRACT WITH HUD, PROVIDES A SAFE, ADEQUATE HOUSING FACILITY TO ELIGIBLE LOW INCOME TENANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PASADENA INTERFAITH HOUSING FOUNDATION, INC. (A TEXAS NOT-FOR-PROFIT CORPORATION) WAS ORGANIZED TO OWN AND OPERATE A 176 UNIT APARTMENT COMMUNITY IN PASADENA, TEXAS, KNOWN AS PASADENA INTERFAITH MANOR (THE "COMMUNITY"). THE CORPORATION HAS ENTERED INTO AND IS GOVERNED BY A REGULATORY AGREEMENT WITH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). THE PROJECT, THROUGH A HOUSING ASSISTANCE PAYMENTS CONTRACT WITH HUD, PROVIDES A SAFE, ADEQUATE HOUSING FACILITY TO ELIGIBLE LOW INCOME TENANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Merkin Treasurer | OfficerTrustee | 1 | $0 |
Raymond Wilkerson Board Member | OfficerTrustee | 1 | $0 |
Andrew Farkas Alternate | OfficerTrustee | 1 | $0 |
Lavinia Brown Vice President | OfficerTrustee | 1 | $0 |
Brian Davis Board Member | Trustee | 1 | $0 |
Eugene Rhoden Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,259,050 |
| 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 | $1,259,050 |
| Total Program Service Revenue | $564,664 |
| Investment income | $64 |
| 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 | $1,864,470 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $94,500 |
| Fees for services: Legal | $2,572 |
| Fees for services: Accounting | $24,785 |
| 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 | $47,484 |
| Information technology | $20,723 |
| Royalties | $0 |
| Occupancy | $917,384 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,240 |
| Interest | $181,361 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $163,281 |
| Insurance | $14,260 |
| All other expenses | $365,667 |
| Total functional expenses | $1,836,257 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,433 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,277 |
| 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 | $1,564,097 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $30,752 |
| Investments—program-related | $0 |
| Intangible assets | $39,984 |
| Other assets | $1,078,908 |
| Total assets | $2,737,451 |
| Accounts payable and accrued expenses | $89,546 |
| Grants payable | $0 |
| Deferred revenue | $7,592 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $50,113 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,980,755 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5 |
| Total liabilities | $6,128,011 |
| Net assets without donor restrictions | -$3,390,560 |
| 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 | $2,737,451 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alamo Area Mutual Housing Association Inc San Antonio, TX | $51,706,215 | $15,020,368 |
Community Development Corporation Of Brownsville Inc Brownsville, TX | $63,084,439 | $14,190,282 |
Merced Housing Texas San Antonio, TX | $50,611,683 | $9,858,961 |
Trinity Affordable Housing Corporation Austin, TX | $27,521,509 | $8,167,693 |
Assisting Texas With Housing Inc Austin, TX | $21,990,420 | $4,581,783 |
Dallas Neighborhood Alliance For Habitat Dallas, TX | $1,401,689 | $4,975,573 |
Tierra Del Sol Housing Corporation Las Cruces, NM | $16,041,382 | $6,574,879 |
Louisiana Housing Assistance Corporation Alexandria, LA | $350,109 | $3,738,733 |
Affordable Community Housing Trust Edmond, OK | $6,149,448 | $2,689,134 |
Lago De Plata Inc Dallas, TX | $0 | $4,971,984 |
St Jude Inc Dallas, TX | $20,844,887 | $6,967,988 |
St Martin De Porres Inc Dallas, TX | $5,546,092 | $2,713,631 |