Brothers Redevelopment Inc
- Assets
- $45.1m
- Revenue
- $26.1m
- Investments
- $2.3m
- Employees
- 130
- Location
- Edgewater, CO
- Founding
- 07/1973
- Data as of
- 09/2023
- EIN
- 84-0615347
Organization Overview
Brothers Redevelopment Inc is located in Edgewater, CO. The organization was established in 1973. 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. As of 09/2023, Brothers Redevelopment Inc employed 130 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brothers Redevelopment 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 09/2023, Brothers Redevelopment Inc generated $26.1m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $24.0m during the year ending 09/2023. While expenses have increased by 28.8% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SAFE, AFFORDABLE, ACCESSIBLE HOUSING AND HOUSING SERVICES FOR THELOW-INCOME, ELDERLY AND DISABLED OF COLORADO.
Describe the Organization's Program Activity:
PROVIDED MANAGERIAL OVERSIGHT AND PROPERTY MANAGEMENT SERVICES TO THE COMMUNITY PROPERTIES OWNED BY THE ORGANIZATION AND THE SCHEDULE R ENTITIES, AND PROVIDED THIRD-PARTY MAINTENANCE TO OUR NONPROFIT ORGANIZATION. WE MANAGED THIRTEEN (13) AFFORDABLE HOUSING COMMUNITIES PROVIDING 526 APARTMENTS TO DISABLED, ELDERLY, AND LOW-INCOME FAMILIES.
PROVIDE HOUSING AND SUPPORT SERVICES ACROSS COLORADO TO LOW-INCOME, ELDERLY AND DISABLED RESIDENTS, INCLUDING HOME MODIFICATIONS AND REPAIR; HOUSING COUNSELING/RENTAL NAVIGATION; AFFORDABLE HOUSING ASSISTANCE AND SEARCH; SENIOR SERVICES NAVIGATION, AND MORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad H Mitchell Chairman | OfficerTrustee | 3 | $0 |
Larry Aubrecht Treasurer | OfficerTrustee | 3 | $0 |
Joycelyn Gardner Rodda Director | Trustee | 2 | $0 |
Samuel Herrera Director | Trustee | 2 | $0 |
William M Christopher Director | Trustee | 2 | $0 |
Jennifer Haynes Vice Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wood Rd Construction Llc Remodel | 9/29/23 | $135,783 |
Excellence Roofing & Construction Remodel | 9/29/23 | $341,775 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,787,465 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,889,656 |
| Noncash contributions included in lines 1a–1f | $9,658 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,677,121 |
| Total Program Service Revenue | $10,858,232 |
| Investment income | $76,313 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $305,031 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,084,426 |
| 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. | $172,000 |
| Compensation of current officers, directors, key employees. | $50,774 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,180,868 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $241,112 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $556,152 |
| Advertising and promotion | $227,425 |
| Office expenses | $335,531 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,336,927 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $44,454 |
| Interest | $736,309 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $645,554 |
| Insurance | $1,299,386 |
| All other expenses | $0 |
| Total functional expenses | $24,022,680 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,236,510 |
| Savings and temporary cash investments | $2,396,374 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,382,938 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,439,733 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $180,911 |
| Net Land, buildings, and equipment | $13,756,360 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,304,998 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,441,715 |
| Total assets | $45,139,539 |
| Accounts payable and accrued expenses | $3,801,400 |
| Grants payable | $0 |
| Deferred revenue | $1,216,025 |
| 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 | $20,020,038 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $104,719 |
| Total liabilities | $25,142,182 |
| Net assets without donor restrictions | $19,997,357 |
| 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 | $45,139,539 |