Unified Housing Foundation Inc
- Assets
- $206.0m
- Revenue
- $39.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Farmers Branch, TX
- Founding
- 03/1999
- Data as of
- 12/2022
- EIN
- 76-0557203
Organization Overview
Unified Housing Foundation Inc is located in Farmers Branch, TX. The organization was established in 1999. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Unified 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 12/2022, Unified Housing Foundation Inc generated $39.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (17.4%) each year. All expenses for the organization totaled $36.5m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (14.7%) per year over the past 4 years. 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
THE ORGANIZATION WAS FORMED FOR THE PURPOSE OF ACQUIRING AND OPERATING LOW-INCOME HOUSING PROPERTIES WITHIN THE GUIDELINES OF IRS NOTICE 93-1 OR WITHIN ANY SUCCESSOR OR ALTERNATE "SAFE-HARBOR" AFFORDABLE HOUSING GUIDELINE PUBLISHED BY THE IRS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATING LOW-INCOME HOUSING PROPERTIES WITHIN THE GUIDELINES OF IRS NOTICE 93-1. IN FURTHERANCE OF ITS MISSION TO SERVE THE AFFORDABLE HOUSING COMMUNITY, THE ORGANIZATION PROVIDES SOCIAL SERVICE PROGRAMS TO THE RESIDENTS AT ITS VARIOUS APARTMENT COMMUNITIES. THE ORGANIZATION CURRENTLY PROVIDES A SENIOR CITIZEN DISCOUNT PROGRAM FOR THOSE 55 AND OVER AND A RENTAL ASSISTANCE PROGRAM AT ALL OF ITS COMMUNITIES. FURTHERMORE, AT SELECT PROPERTIES, THE ORGANIZATION PROVIDES ESL CLASSES, VACATION BIBLE SCHOOL CLASSES, YOUTH EMPLOYMENT OPPORTUNITIES, AND VARIOUS COMMUNITY EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Neil Crouch Dir, President, Treasurer | OfficerTrustee | 0 | $0 |
Martha C Stephens Director | Trustee | 0.5 | $5,000 |
Carolynn F Bevers Director | Trustee | 0.5 | $6,000 |
Byron K Rowlett Director | Trustee | 0.5 | $5,000 |
Melanie Carter Dir, Vp, Secretary | OfficerTrustee | 0.5 | $6,000 |
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 | $34,653,721 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,329,659 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,983,380 |
| 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. | $22,000 |
| Compensation of current officers, directors, key employees. | $22,000 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,303,671 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $15,150,601 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,903,476 |
| Insurance | $1,740,937 |
| All other expenses | $238,076 |
| Total functional expenses | $36,477,901 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,198,845 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $102,252 |
| 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 | $561,426 |
| Net Land, buildings, and equipment | $125,405,821 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,577,031 |
| Other assets | $67,172,064 |
| Total assets | $206,017,439 |
| Accounts payable and accrued expenses | $4,091,348 |
| 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 | $162,230,940 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $91,240,221 |
| Total liabilities | $257,562,509 |
| Net assets without donor restrictions | $0 |
| 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 | -$51,545,070 |
| Total liabilities and net assets/fund balances | $206,017,439 |