Kingstree Housing Development Company Inc
- Assets
- $3.8m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 9
- Location
- Kingstree, SC
- Founding
- 03/2019
- Data as of
- 06/2022
- EIN
- 81-3886556
Organization Overview
Kingstree Housing Development Company Inc is located in Kingstree, SC. The organization was established in 2019. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Kingstree Housing Development Company Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kingstree Housing Development Company 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 06/2022, Kingstree Housing Development Company Inc generated $1.1m 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 (24.3%) each year. All expenses for the organization totaled $1.6m during the year ending 06/2022. 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
ESTABLISHED IN PROVIDING AND DEVELOPING QUALITY, SAFE AFFORDABLE HOUSING OPPORTUNITES FOR LOW INCOME FAMILIES, SENIORS AND PEOPLE WITH SPECIAL NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
KINGSTREE HOUSING DEVELOPMENT COMPANY, INC. OWNS AND OPERATE 140 UNITS OF LOW AND MODERATE INCOME HOUSING CONSISTING OF 1 TO 5 BEDROOMS. WE ARE COMMITTED TO PROVIDING QUALITY, AFFORDABLE HOUSING IN HEALTHY NEIGHBORHOODS THROUGH PARTNERSHIPS WITH OUR RESIDENTS AND OTHER GROUPS, FOSTERING NEIGHBORHOOD OPPORTUNITIES FOR THOSE WE SERVE TO HELP THEM ACHIEVE SELF- SUFFICIENCY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melvin Harrison Vice Chairma | OfficerTrustee | 1 | $0 |
Haven Mcclam Chairman | OfficerTrustee | 1 | $0 |
Wallace Bartelle Board Member | Trustee | 1 | $0 |
Chris Williams Board Member | Trustee | 1 | $0 |
Samuel Mccrea Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $729,986 |
| 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 | $729,986 |
| Total Program Service Revenue | $330,508 |
| Investment income | $458 |
| 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 | $1,099,822 |
| 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 | $220,643 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $80,094 |
| Payroll taxes | $0 |
| Fees for services: Management | $60,212 |
| Fees for services: Legal | $252 |
| Fees for services: Accounting | $22,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,914 |
| Advertising and promotion | $0 |
| Office expenses | $40,686 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $129,471 |
| Travel | $2,605 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $120,545 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $305,117 |
| Insurance | $77,018 |
| All other expenses | $47,078 |
| Total functional expenses | $1,561,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,437 |
| Savings and temporary cash investments | $357,918 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,110 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $32,312 |
| Prepaid expenses and deferred charges | $77,861 |
| Net Land, buildings, and equipment | $3,223,160 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,782,798 |
| Accounts payable and accrued expenses | $275,242 |
| Grants payable | $0 |
| Deferred revenue | $5,043 |
| 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 | $3,107,135 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,681 |
| Total liabilities | $3,391,101 |
| Net assets without donor restrictions | $33,779 |
| Net assets with donor restrictions | $357,918 |
| 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 | $3,782,798 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Choanoke Area Development Assoc Rich Square, NC | $3,243,319 | $10,393,050 |
Association For Retarded Citizens Housing Development Services Inc Greensboro, NC | $38,855,283 | $9,434,004 |
Twin Rivers Opportunities Inc New Bern, NC | $1,111,953 | $5,873,122 |
John Sparks Manor Inc Union City, GA | $0 | $5,675,234 |
Larry Moore Manor Inc Union City, GA | $0 | $4,277,912 |
Rhg-Afforable Housing Ii Inc Atlanta, GA | $13,550,062 | $7,175,901 |
Broadway Towers Inc Atlanta, GA | $17,531,706 | $3,119,210 |
Partners In Hope Inc Myrtle Beach, SC | $10,489,405 | $3,015,967 |
C O R E Programs Inc Charlotte, NC | $3,904,146 | $3,649,405 |
Santee Lynches Affordable Housing And Community Development Corp Sumter, SC | $22,034,704 | $3,598,391 |
Clairmont Oaks Inc Decatur, GA | $12,058,022 | $3,642,909 |
Campbell-Stone North Apartments Inc Atlanta, GA | $5,676,706 | $3,972,920 |