Oaklake Community Housing Development Corporation
- Assets
- $18.4m
- Revenue
- $2.9m
- Investments
- $132.2k
- Employees
- 0
- Location
- Houston, TX
- Founding
- 04/1995
- Data as of
- 12/2023
- EIN
- 76-0448867
Organization Overview
Oaklake Community Housing Development Corporation is located in Houston, TX. The organization was established in 1995. 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. Oaklake Community Housing Development 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 12/2023, Oaklake Community Housing Development Corporation generated $2.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $808.0k during the year ending 12/2023. 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
SUPPORT LOW INCOME HOUSING PROJECTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SUPPORTS APARTMENTS THAT INCORPORATE RESIDENT SUPPORT SERVICE PROGRAMS THAT ADDRESSES ECONOMIC AND EDUCTIONALNEEDS FOR OVER 100 FAMILIES PER YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jot Couch Executive Director | Officer | 40 | $0 |
Dean O'kelley Sec/treas | OfficerTrustee | 1 | $0 |
John Kerby Board Member | Trustee | 1 | $0 |
Casey Carson Pres. | OfficerTrustee | 1 | $0 |
Diana Robojohns Board Member | Trustee | 1 | $0 |
Iva Williamson Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $1,815,521 |
| Investment income | $1,102,632 |
| 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 | $2,918,153 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $256,201 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $10,366 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $41,314 |
| Travel | $2,755 |
| 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 | $16,313 |
| Insurance | $20,111 |
| All other expenses | $244,862 |
| Total functional expenses | $807,957 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,581,676 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67,500 |
| 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 | $11,426 |
| Net Land, buildings, and equipment | $109,374 |
| Investments—publicly traded securities | $15,539,457 |
| Investments—other securities | $132,220 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $18,441,653 |
| Accounts payable and accrued expenses | $27,711 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $27,711 |
| Net assets without donor restrictions | $18,413,942 |
| 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 | $18,441,653 |
Grants Awarded
Over the last fiscal year, Oaklake Community Housing Development Corporation has awarded $256,201 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
TODAYS RESIDENT SERVICES PURPOSE: PROVIDING QUALITY SOCIAL ASSISTANCE TO LOW-INCOME RESIDENTS, INCLUDING PROGRAMS DESIGNED TO RAISE THEIR CULTURAL AND FAMILY STANDARDS. | $25,000 |
PORTFOLIO RESIDENT SERVICES PURPOSE: providing quality social assistance to low-income RESIDENTS, INCLUDING PROGRAMS DESIGNED TO RAISE THEIR CULTURAL AND FAMILY STANDARDS. | $175,000 |
NEW MEXICO INTER-FAITH MANAGEMENT CORP PURPOSE: providing quality social assistance to low-income residents, including programs designed to raise their cultural and family standards. | $56,201 |