Commonwealth Multifamly Housing Corporation
- Assets
- $162.9m
- Revenue
- $14.9m
- Investments
- $3.4m
- Employees
- 7
- Location
- Temple, TX
- Founding
- 03/2001
- Data as of
- 12/2021
- EIN
- 76-0651319
Organization Overview
Commonwealth Multifamly Housing Corporation is located in Temple, TX. The organization was established in 2001. According to its NTEE Classification (L80) the organization is classified as: Housing Support, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Commonwealth Multifamly Housing Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commonwealth Multifamly Housing 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 12/2021, Commonwealth Multifamly Housing Corporation generated $14.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $16.2m during the year ending 12/2021. While expenses have increased by 14.6% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PRESERVATION, DEVELOPMENT, CONSTRUCTION AND OPERATION OF AFFORDABLE MULTIFAMILY HOUSING AND THE PROVIDING OF EDUCATIONAL AND SELF-IMPROVEMENT SERVICES TO THE MIDDLE, LOW AND VERY-LOW INCOME RESIDENTS IN SUCH HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AFFORDABLE RENTS: THE ORGANIZATION HAS MAINTAINED ITS RENTS FOR 75% OR MORE OF THE RESIDENTIAL UNITS AT AT A LEVEL WHICH IS AFFORDABLE FOR RESIDENTS MAKING 80% OR LESS OF AREA MEDIAN INCOME (AMI) IN THE METROPOLITAN AREAS WHERE EACH OF ITS APARTMENT PROPERTIES ARE LOCATED.
ENHANCED COMMUNITIES: THE ORGANIZATION PROVIDES LOW- AND VERY-LOW-INCOME RESIDENTS WITH AN AFFORDABLE, SAFE COMMUNITY ENHANCED BY SPECIALLY TRAINED AFFORDABLE HOUSING MANAGEMENT PROFESSIONALS WHO BRING NURTURING AND SUPPORTIVE ATTITUDES TO THE STAFF-RESIDENT RELATIONSHIP AND PROVIDE SERVICES WHICH GO FAR BEYOND SIMPLE LEASING, COLLECTION AND MAINTENANCE.
CAPITAL IMPROVEMENTS: THE ORGANIZATION CONTINUES TO BE ENGAGED IN A PROGRAM OF CAPITAL IMPROVEMENTS DESIGNED TO MAINTAIN ITS PROPERTIES AS SAFE, SANITARY AND DESIRABLE COMMUNITIES WHILE RETAINING THEIR AFFORDABILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John A Carlisi President/treasurer | OfficerTrustee | 20.25 | $150,000 |
David P Cole Vice President/secretary | OfficerTrustee | 20.25 | $150,000 |
Tommy Good Director | Trustee | 0.25 | $0 |
Margaret Mcfarland Director | Trustee | 0.25 | $0 |
Jacque H Woodring Director | Trustee | 0.25 | $0 |
Patricia Rainwater Director | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
City Of San Antonio Water/sewer | 12/30/21 | $148,715 |
Jimenez Painting Operational And Maintenance | 12/30/21 | $141,575 |
City Of Freeport Water/sewer | 12/30/21 | $125,702 |
Orion Real Estate Services Inc Property Mgmt & Personnel | 12/30/21 | $119,854 |
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 | $14,793,194 |
| Investment income | $77,936 |
| 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 | $14,871,130 |
| 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. | $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 | $494,278 |
| Fees for services: Legal | $193,839 |
| 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 | $112,491 |
| Office expenses | $116,526 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $13,318 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,742,709 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,118,195 |
| Insurance | $578,589 |
| All other expenses | $1,224,324 |
| Total functional expenses | $16,164,257 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,375,514 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $514,463 |
| 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 | $673,357 |
| Net Land, buildings, and equipment | $127,038,078 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,429,130 |
| Investments—program-related | $26,062,394 |
| Intangible assets | $155,891 |
| Other assets | $628,094 |
| Total assets | $162,876,921 |
| Accounts payable and accrued expenses | $1,214,358 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $432,034 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $159,159,395 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,962,025 |
| Total liabilities | $169,767,812 |
| Net assets without donor restrictions | -$6,890,891 |
| 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 | $162,876,921 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Commonwealth Multifamly Housing Corporation Temple, TX | $162,876,921 | $14,871,130 |
Christian Community Action Lewisville, TX | $16,536,025 | $11,902,772 |
Central Oklahoma Habitat For Humanity Inc Oklahoma City, OK | $15,945,462 | $9,628,435 |
Rebuilding Together Houston Houston, TX | $2,380,403 | $3,485,226 |
San Antonio Housing Trust Foundation Inc San Antonio, TX | $7,282,965 | $2,625,653 |
Community Enhancement Corporation Oklahoma City, OK | $19,292,408 | $1,589,887 |
New Braunfels Community Resources Inc New Braunfels, TX | $2,281,417 | $2,005,183 |
Community Restoration Corporation Irving, TX | $696,507 | $9,217,251 |
Texas Campaign For The Environment Fund Austin, TX | $1,503,965 | $2,333,632 |
Habitat For Humanity International Inc New Braunfels, TX | $2,364,963 | $1,297,778 |
Lutheran Properties Inc Austin, TX | $10,751,890 | $1,244,486 |
City Of Lubbock Housing Initiatives Lubbock, TX | $2,597,981 | $392,861 |