Investing In Communities
- Assets
- $7.2m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Owensboro, KY
- Founding
- 08/2018
- Data as of
- 06/2022
- EIN
- 82-4741844
Organization Overview
Investing In Communities is located in Owensboro, KY. The organization was established in 2018. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Investing In Communities 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, Investing In Communities generated $2.1m in total revenue. All expenses for the organization totaled $2.3m during the year ending 06/2022. While expenses have increased by 68.9% per year over the past 2 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME RESIDENTS IN OUR COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL INCOME FROM 5 HOUSING UNITS OCCUPIED BY LOW INCOME FAMILIES. RENTS ARE SUBSIDIZED AND UTILITY ALLOWANCE PROVIDED
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rita Moorman Chairperson | Trustee | 1 | $0 |
Adrian Frazier Director | Officer | 0.5 | $0 |
Jean Maddox Director | Officer | 0.5 | $0 |
Tom Covington Director | Officer | 0.5 | $0 |
Rick Searcy Director | Officer | 0.5 | $0 |
Shauna Boom Officer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $824,792 |
| 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 | $824,792 |
| Total Program Service Revenue | $14,436 |
| Investment income | $307 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,167,460 |
| 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 | $2,081,251 |
| 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 | $180,103 |
| Pension plan accruals and contributions | $48,538 |
| Other employee benefits | $79,412 |
| Payroll taxes | $13,778 |
| Fees for services: Management | $45,802 |
| Fees for services: Legal | $4,797 |
| Fees for services: Accounting | $13,656 |
| 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 | $30,840 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,062 |
| Travel | $934 |
| 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 | $361,750 |
| Insurance | $93,434 |
| All other expenses | $0 |
| Total functional expenses | $2,284,087 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $769,231 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,716 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $46,825 |
| Prepaid expenses and deferred charges | $8,712 |
| Net Land, buildings, and equipment | $5,975,672 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $426,656 |
| Total assets | $7,239,812 |
| Accounts payable and accrued expenses | $1,402,632 |
| Grants payable | $0 |
| Deferred revenue | $9,361 |
| 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 | $128,182 |
| Total liabilities | $1,540,175 |
| Net assets without donor restrictions | $3,050,227 |
| Net assets with donor restrictions | $2,649,410 |
| 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 | $7,239,812 |