I58 Inc
- Assets
- $368.3k
- Revenue
- $735.7k
- Investments
- $0.0
- Employees
- 1
- Location
- Chester, SC
- Founding
- 04/2017
- Data as of
- 12/2021
- EIN
- 81-3858015
Organization Overview
I58 Inc is located in Chester, SC. The organization was established in 2017. According to its NTEE Classification (L40) the organization is classified as: Temporary Housing, 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. I58 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, I58 Inc generated $735.7k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 74.6% each year . All expenses for the organization totaled $568.3k during the year ending 12/2021. 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
EMPOWER LOW TO MODERATE INCOME INDIVIDUALS THROUGH COMMUNITY REVITALIZATION INITIATIVES SUCH AS HOUSING, NEIGHBORHOOD BEAUTIFICATION, AND FAMILY SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUILD HOUSES, INSULATE AND MAKE MORE ENERGY EFFICIENT EXISTING HOMES, AND REHAB QUALIFYING HOMES LOW TO MODERATE INCOME INDIVIDUALS. ALSO TEACHING INDIVIDUALS ABOUT HOME OWNERSHIP, FINANCES AND OTHER LIFE SKILLS TO HELP THEM TO BE ABLE TO CONTINUE TO LIVE IN THEIR HOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Brakefield Director Of Development | 40 | $35,000 | |
Kevin Taylor President | Officer | 2 | $0 |
Jeffery Commodore Vice President | Officer | 2 | $0 |
Anita Mckinney Treasurer | Officer | 3 | $0 |
Wylie Frederick Director | Trustee | 1 | $0 |
Elouise Mccree Director | 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 | $198,124 |
| Noncash contributions included in lines 1a–1f | $136,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $198,124 |
| Total Program Service Revenue | $534,531 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,051 |
| 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 | $735,706 |
| 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. | $35,000 |
| Compensation of current officers, directors, key employees. | $35,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,678 |
| Fees for services: Management | $930 |
| Fees for services: Legal | $1,497 |
| Fees for services: Accounting | $300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $500 |
| Advertising and promotion | $0 |
| Office expenses | $3,841 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $250 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $633 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $902 |
| All other expenses | $521,794 |
| Total functional expenses | $568,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,418 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67,676 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $249,183 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $368,277 |
| Accounts payable and accrued expenses | $60,058 |
| 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 | $47,883 |
| Unsecured mortgages and notes payable | $45,883 |
| Other liabilities | $450 |
| Total liabilities | $154,274 |
| 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 | $214,003 |
| Total liabilities and net assets/fund balances | $368,277 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that I58 Inc has recieved totaling $11,092.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,017 |
Chester Healthcare Foundation Chester, SC PURPOSE: OPERATIONAL SUPPORT | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $75 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Georgia Southern University Housing Foundation Inc Statesboro, GA | $249,175,255 | $10,373,698 |
Appalachian Student Housing Corporation Boone, NC | $99,024,525 | $6,456,684 |
Bloom Our Youth Inc Fayetteville, GA | $3,984,539 | $4,314,160 |
Greenpointe Regional Housing Inc Dunn, NC | $10,308,542 | $2,284,690 |
Rainbow Village Inc Duluth, GA | $9,090,525 | $2,152,472 |
Veterans Life Center Raleigh, NC | $1,727,706 | $1,329,274 |
Homeless No More Inc Columbia, SC | $6,056,633 | $1,621,915 |
Fayetteville State University Student Housing Corporation Fayetteville, NC | $19,255,663 | $717,505 |
Pinelands Group Homes Inc Summerville, SC | $0 | $879,528 |
City With Dwellings Community First Initiative Winstonsalem, NC | $321,172 | $989,053 |
Zion Foundation Columbus, GA | $168,436 | $950,213 |
Haywood Pathways Center Waynesville, NC | $929,257 | $984,245 |