Pinemont Incorporated
- Assets
- $3.1m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 7
- Location
- Houston, TX
- Founding
- 11/1980
- Data as of
- 12/2021
- EIN
- 74-2110755
Organization Overview
Pinemont Incorporated is located in Houston, TX. The organization was established in 1980. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Pinemont Incorporated employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pinemont Incorporated 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, Pinemont Incorporated generated $1.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. 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
LOW INCOME HOUSING PROJECT FOR ELDERLY & HANDICAPPED PROVIDING SAFE & AFFORDABLE HOUSING & SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PINEMONT APARTMENTS ARE DESIGNATED, UNDER THE SECTION 202/8 PROJECT TYPE, TO PROVIDE SAFE AND AFFORDABLE LOW INCOME HOUSING TO AT LEAST 130 ELDERLY AND HANDICAPPED PERSONS MEETING LOW INCOME HOUSING GUIDELINES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jo Ortiz Project Administrator | Officer | 40 | $83,123 |
Martha Hollas President | Trustee | 2 | $0 |
Adrian Yun Member | Trustee | 2 | $0 |
Brady Dodren Member | Trustee | 2 | $0 |
Erik King Member | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $945,261 |
| 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 | $945,261 |
| Total Program Service Revenue | $369,370 |
| Investment income | $0 |
| 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 | $1,314,631 |
| 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. | $83,123 |
| Compensation of current officers, directors, key employees. | $83,123 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $209,547 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $78,276 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,338 |
| Fees for services: Accounting | $29,664 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,290 |
| Advertising and promotion | $0 |
| Office expenses | $33,500 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $301,417 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $109,504 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $189,597 |
| Insurance | $147,083 |
| All other expenses | $58,906 |
| Total functional expenses | $1,277,245 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,980 |
| 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 | $34,387 |
| Net Land, buildings, and equipment | $2,461,180 |
| Investments—publicly traded securities | $203,722 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $284,309 |
| Total assets | $3,051,578 |
| Accounts payable and accrued expenses | $130,747 |
| 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 | $2,926,352 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $34,944 |
| Total liabilities | $3,092,043 |
| Net assets without donor restrictions | -$244,672 |
| Net assets with donor restrictions | $204,207 |
| 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 | $3,051,578 |