Germantown Home Section 811 Corporation
- Assets
- $2.3m
- Revenue
- $276.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 08/2002
- Data as of
- 06/2022
- EIN
- 75-2975044
Organization Overview
Germantown Home Section 811 Corporation is located in Philadelphia, PA. The organization was established in 2002. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Germantown Home Section 811 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 06/2022, Germantown Home Section 811 Corporation generated $276.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $387.9k during the year ending 06/2022. While expenses have increased by 2.3% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THIS IS AN 18-UNIT APARTMENT COMPLEX, BUILT WITH HUD FUNDING, THAT RENTS ONLY TO ELDERLY PERSONS WHO SUFFER FROM ALZHEIMERS DISEASE AND DEMENTIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
18 APARTMENTS, SUBSIDIZED BY HUD, FOR LOW-INCOME DEMENTIA SUFFERERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Siebert Board Member | Trustee | 0 | $0 |
Joseph Duffey Board Member | Trustee | 0 | $0 |
Mary Naylor Board Member | Trustee | 0 | $0 |
Robert Max Kent President | Officer | 0 | $0 |
Michael Demarco Treasurer | Officer | 0 | $0 |
Tim Mcgrath Chairman | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $305 |
| 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 | $275,985 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $64,571 |
| Pension plan accruals and contributions | $1,605 |
| Other employee benefits | $19,122 |
| Payroll taxes | $4,808 |
| Fees for services: Management | $11,654 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,296 |
| 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 | $10,052 |
| Information technology | $2,324 |
| Royalties | $0 |
| Occupancy | $49,359 |
| 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 | $94,275 |
| Insurance | $13,998 |
| All other expenses | $0 |
| Total functional expenses | $387,885 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $158,724 |
| 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 | $6,122 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $187,858 |
| Total assets | $2,346,676 |
| Accounts payable and accrued expenses | $254,642 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $7,434 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,598,800 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $302,800 |
| Total liabilities | $3,163,676 |
| Net assets without donor restrictions | -$817,000 |
| 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 |
| Total liabilities and net assets/fund balances | -$817,000 |