Cannon Falls Housing Initiative Inc
- Assets
- $262.5k
- Revenue
- $19.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Cannon Falls, MN
- Founding
- 02/2004
- Data as of
- 12/2021
- EIN
- 75-2990038
Organization Overview
Cannon Falls Housing Initiative Inc is located in Cannon Falls, MN. The organization was established in 2004. 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. Cannon Falls Housing Initiative 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 12/2021, Cannon Falls Housing Initiative Inc generated $19.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (27.0%) each year. All expenses for the organization totaled $325.0 during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (59.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES ANNUAL SCHOLARSHIPS TO QUALIFIED CANNON FALLS HIGH SCHOOL GRADUATES WHO ARE FURTHERING THEIR EDUCATION IN THE CONSTRUCTION TRADE RELATED FIELDS. QUALIFICATIONS INCLUDE (1) THE STUDENT IS ENROLLED IN THE CONSTRUCTION STUDENT PROGRAM AND (2) A COMBINATION OF THE STUDENT'S PERFORMANCE, ATTENDANCE, GRADE AND INSTRUCTOR'S EVALUATION. THE 2021 SCHOLARSHIP RECIPIENT WASN'T PAID UNTIL MARCH 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Boykin President | 1 | $0 | |
Greg Wulf Treasurer | 1 | $0 | |
Kathy Anderson Director | 1 | $0 | |
Dennis Brekken Director | 1 | $0 | |
Jim Bassett Director | 1 | $0 | |
Jeff Sampson Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $15,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $4,846 |
| Other Income | $0 |
| Total Revenue | $19,846 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $25 |
| Total operating and administrative expenses | $325 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $162,127 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $98,326 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $2,000 |
| Total assets | $262,453 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Cannon Falls Housing Initiative Inc has awarded $6,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
BRODERICK ULRICH PURPOSE: SCHOLARSHIP | $1,000 |
BRODERICK ULRICH PURPOSE: SCHOLARSHIP | $1,000 |
BRODERICK ULRICH PURPOSE: SCHOLARSHIP | $1,000 |
JACOB HALL PURPOSE: SCHOLARSHIP | $1,000 |
JACOB HALL PURPOSE: SCHOLARSHIP | $1,000 |
JACOB HALL PURPOSE: SCHOLARSHIP | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Home And Community Options Inc Winona, MN | $11,542,509 | $9,788,629 |
Phm New Richmond Senior Housing Inc Roseville, MN | $18,158,628 | $8,376,438 |
Greater Minnesota Housing Fund St Paul, MN | $209,115,546 | $19,170,053 |
American Indian Community Development Corporation Minneapolis, MN | $37,892,319 | $10,832,403 |
Habitat For Humanity International Inc Madison, WI | $16,210,690 | $8,401,610 |
Phw Menomonee Falls Inc Roseville, MN | $45,125,918 | $7,810,658 |
Habitat For Humanity International Inc Menasha, WI | $15,348,102 | $7,467,447 |
Affordable Housing Network Inc Cedar Rapids, IA | $25,730,785 | $5,702,234 |
Anawim Housing Des Moines, IA | $12,399,814 | $6,675,013 |
Housing Alternatives Development Company Deephaven, MN | $21,981,547 | $6,818,305 |
Community Housing Initiatives Inc Spencer, IA | $50,484,883 | $5,152,673 |
Riverton Community Housing Minneapolis, MN | $52,152,152 | $6,167,785 |