Spartanburg Area Housing Corporation
- Assets
- $7.6m
- Revenue
- $230.9k
- Investments
- $94.5k
- Employees
- 0
- Location
- Spartanburg, SC
- Founding
- 03/2018
- Data as of
- 09/2023
- EIN
- 82-3170687
Organization Overview
Spartanburg Area Housing Corporation is located in Spartanburg, SC. The organization was established in 2018. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spartanburg Area 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 09/2023, Spartanburg Area Housing Corporation generated $230.9k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $590.7k during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE AFFORDABLE HOUSING OPPORTUNITIES FOR ECONOMICALLY DISADVANTAGE D FAMILIES AND INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING THAT IS AFFORDABLE FOR FAMILIES AND INDIVIDUALS IN THE CITY OF AND COUNTY OF SPARTANBURG.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Myers Director | Trustee | 1 | $0 |
John Fairey Director | Trustee | 1 | $0 |
Brooks Gaylord Director | Trustee | 1 | $0 |
Dr Reggie Browning Director | Trustee | 1 | $0 |
Michelle Jones Director | Trustee | 1 | $0 |
Chunsta Miller Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $95,650 |
| 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 | $95,650 |
| Total Program Service Revenue | $135,112 |
| Investment income | $168 |
| 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 | $230,930 |
| 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 | $11,716 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,789 |
| Payroll taxes | $947 |
| Fees for services: Management | $21,514 |
| Fees for services: Legal | $20 |
| Fees for services: Accounting | $5,262 |
| 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 | $70,585 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,535 |
| Travel | $9 |
| 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 | $25,509 |
| Insurance | $40,017 |
| All other expenses | $0 |
| Total functional expenses | $590,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $380,132 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $91,992 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,615,346 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $43,048 |
| Net Land, buildings, and equipment | $361,787 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $94,546 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,159 |
| Total assets | $7,599,010 |
| Accounts payable and accrued expenses | $1,192,250 |
| Grants payable | $0 |
| Deferred revenue | $661,477 |
| 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 | $2,091,971 |
| Total liabilities | $3,945,698 |
| Net assets without donor restrictions | $3,653,312 |
| 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 | $7,599,010 |