Solon Community Living Inc
- Assets
- $5.8m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 1
- Location
- Solon, OH
- Founding
- 07/2019
- Data as of
- 12/2023
- EIN
- 83-3861819
Organization Overview
Solon Community Living Inc is located in Solon, OH. The organization was established in 2019. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., 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. Solon Community Living 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 12/2023, Solon Community Living Inc generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 61.4% each year . All expenses for the organization totaled $177.4k during the year ending 12/2023. While expenses have increased by 51.2% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SOLON COMMUNITY LIVING , INC. WAS ESTABLISHED FOR THE PURPOSE OF DEVELOPING AND OWNING A SUPPORTIVE HOUSING PROJECT FOR PEOPLE WITH DEVELOPMENTAL DISABILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPING AND OWNING A SUPPORTIVE HOUSING PROJECT FOR PEOPLE WITH DEVELOPMENTAL DISBILITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ara Bagdasarian President | OfficerTrustee | 50 | $0 |
Leslie Bagdasarian Board Member | 35 | $0 | |
Lee Markowitz Secretary | OfficerTrustee | 8 | $0 |
Gary Biales Board Member | Trustee | 8 | $0 |
Michael Novak Vice Preside | OfficerTrustee | 2 | $0 |
Richard Mazzola Treasurer | Officer | 6 | $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 | $1,582,585 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,582,585 |
| Total Program Service Revenue | $177,000 |
| Investment income | $67,611 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,566 |
| Net Income from Fundraising Events | -$11,040 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,823,722 |
| 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 | $77,893 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,972 |
| Payroll taxes | $6,137 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,513 |
| Fees for services: Accounting | $7,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,737 |
| Advertising and promotion | $29,554 |
| Office expenses | $5,652 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,497 |
| 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 | $6,321 |
| Insurance | $2,493 |
| All other expenses | $15 |
| Total functional expenses | $177,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $75,599 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $382,296 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,087 |
| Net Land, buildings, and equipment | $3,103,013 |
| Investments—publicly traded securities | $2,275,238 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,840,233 |
| Accounts payable and accrued expenses | $8,211 |
| 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 | $1,650,000 |
| Total liabilities | $1,658,211 |
| Net assets without donor restrictions | $4,182,022 |
| 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 | $5,840,233 |