New Mexico Inter-Faith Community Housing Development Corporation
- Assets
- $4.4m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 2
- Location
- Houston, TX
- Founding
- 09/2009
- Data as of
- 12/2021
- EIN
- 80-0291710
Organization Overview
New Mexico Inter-Faith Community Housing Development Corporation is located in Houston, TX. The organization was established in 2009. 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. As of 12/2021, New Mexico Inter-Faith Community Housing Development Corporation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mexico Inter-Faith 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 12/2021, New Mexico Inter-Faith Community Housing Development Corporation generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (24.9%) each year. All expenses for the organization totaled $408.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (35.5%) per year over the past 3 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
NEW MEXICO INTERFAITH HOUSING PURSUES ITS CHARITABLE PURPOSE THROUGH THE DEVELOPMENT, PRODUCTION, AND MANAGEMENT OF HIGH QUALIT AFFORDABLE HOUSING IN STABLE COMMUNITIES. TO PROVIDE SUPPORTIVE SERVICES AT NO COST TO RESIDENTS FOR EDUCATIONAL PURPOSES AND CONOMIC SELF-SUFFICIENCY. TO PARTICIPATE IN GOVERNMENT HOUSING DESIGNED TO PROVIDE AFFORDABLE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, THE ORGANIZATION COMPLETED CONSTRUCTION ON THE SILER YARD APARTMENT COMPLEX WHICH IS FULLY LEASED AND OPERATING. THE ORGANIZATION ALSO TOOK ON MANAGEMENT OF THE HOUSING TRUST AND TIERRA CONTENTA CORPORATIONS THROUGH AN ADMINISTRATIVE CONTRACT TO SERVE AS ACTING EXECUTIVE DIRECTOR. AS PART OF THIS WORK, THE ORGANIZATION WAS ABLE TO CLOSE OUT THE SOLERAS STATION LOW INCOME HOUSING TAX CREDIT PROJECT, RECONSTITUTE THE TIERRA CONTENTA CORPORATION AS A STAND ALONE NONPROFIT, SECURE LAND USE APPROVALS FOR PHASE 3 OF THE TIERRA CONTENTA AFFORDABLE HOUSING DEVELOPMENT AND BEGIN CONSTRUCTION ON THE ARROYO OESTE AFFORDABLE HOMEOWNERSHIP SUBDIVISION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Roth President | OfficerTrustee | 2 | $0 |
Sobia Sayeda Vice Preside | OfficerTrustee | 2 | $0 |
Todd Lopez Secretary | OfficerTrustee | 2 | $0 |
Michael Santillanes Director | Trustee | 2 | $0 |
Marie Compton Director | Trustee | 2 | $0 |
Daniel Werwath Executive Di | Officer | 40 | $177,716 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $200,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $650,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $850,000 |
| Total Program Service Revenue | $158,197 |
| Investment income | $160,303 |
| 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 | $1,207,312 |
| 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. | $177,717 |
| Compensation of current officers, directors, key employees. | $17,772 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $114,533 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,502 |
| Payroll taxes | $38,710 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $630 |
| Fees for services: Accounting | $5,852 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,785 |
| Advertising and promotion | $0 |
| Office expenses | $224 |
| Information technology | $2,595 |
| Royalties | $0 |
| Occupancy | $15,904 |
| 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 | $0 |
| Insurance | $1,692 |
| All other expenses | $0 |
| Total functional expenses | $408,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $297,836 |
| Savings and temporary cash investments | $226,829 |
| Pledges and grants receivable | $135,000 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,546,927 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $61,247 |
| Net Land, buildings, and equipment | $132,048 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,399,887 |
| Accounts payable and accrued expenses | $23,997 |
| 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 | $600,000 |
| Total liabilities | $623,997 |
| Net assets without donor restrictions | $3,640,890 |
| Net assets with donor restrictions | $135,000 |
| 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 | $4,399,887 |