Brothers Redevelopment Inc
- Assets
- $28.6m
- Revenue
- $21.9m
- Investments
- $2.4m
- Employees
- 178
- Location
- Edgewater, CO
- Founding
- 07/1973
- Data as of
- 09/2021
- 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 09/2021, Brothers Redevelopment Inc employed 178 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 09/2021, Brothers Redevelopment Inc generated $21.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 37.9% each year . All expenses for the organization totaled $19.6m during the year ending 09/2021. While expenses have increased by 35.5% per year over the past 6 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
2021
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 |
|---|---|---|---|
Jeff Martinez President | Officer | 55 | $142,028 |
Chad H Mitchell Chairman | OfficerTrustee | 3 | $0 |
Larry Aubrecht Treasurer | OfficerTrustee | 3 | $0 |
Janine Halverson Secretary | OfficerTrustee | 3 | $0 |
Joycelyn Gardner Director | Trustee | 2 | $0 |
William M Christopher Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,454,636 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,989,141 |
| Noncash contributions included in lines 1a–1f | $1,486,396 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,443,777 |
| Total Program Service Revenue | $7,312,284 |
| Investment income | $55,120 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $73,485 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,890,998 |
| 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. | $142,029 |
| Compensation of current officers, directors, key employees. | $52,991 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,872,396 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $219,487 |
| 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 | $696,836 |
| Advertising and promotion | $204,528 |
| Office expenses | $278,776 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,836,096 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,131 |
| Interest | $634,541 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $551,573 |
| Insurance | $733,283 |
| All other expenses | $0 |
| Total functional expenses | $19,582,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,713,915 |
| Savings and temporary cash investments | $895,496 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,383,805 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,397,158 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $71,778 |
| Net Land, buildings, and equipment | $13,281,956 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,390,707 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $431,296 |
| Total assets | $28,566,111 |
| Accounts payable and accrued expenses | $1,933,883 |
| Grants payable | $0 |
| Deferred revenue | $103,695 |
| 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 | $12,408,161 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $83,176 |
| Total liabilities | $14,528,915 |
| Net assets without donor restrictions | $13,452,505 |
| Net assets with donor restrictions | $584,691 |
| 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 | $28,566,111 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Brothers Redevelopment Inc has recieved totaling $298,621.
| Awarding Organization | Amount |
|---|---|
Rose Community Foundation Denver, CO PURPOSE: Colorado Housing Connects: Rent/Mortgage Application Assistance | $75,000 |
Nextfifty Initiative Denver, CO PURPOSE: AGING IN PLACE BILINGUAL SERVICES | $65,000 |
American Endowment Foundation Hudson, OH PURPOSE: HOUSING, SHELTER | $50,500 |
Denver Foundation Denver, CO PURPOSE: GENERAL OPERATING SUPPORT | $40,000 |
Enterprise Community Partners Inc Columbia, MD PURPOSE: CAPACITY BUILDING | $27,307 |
Energy Outreach Colorado Denver, CO PURPOSE: ENERGY ASSISTANCE | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Foundation For Affordable Housing Omaha, NE | $529,060,224 | $34,736,721 |
Mercy Housing California Denver, CO | $227,832,939 | $51,666,218 |
Northeast Denver Housing Center Inc Denver, CO | $58,407,194 | $39,072,373 |
Mercy Housing Inc Denver, CO | $121,949,049 | $44,644,651 |
Mercy Housing Lakefront Denver, CO | $45,086,430 | $37,545,157 |
Brothers Redevelopment Inc Edgewater, CO | $28,566,111 | $21,890,998 |
Habitat For Humanity International Inc Omaha, NE | $36,900,454 | $19,457,975 |
Habitat For Humanity International Inc Tulsa, OK | $20,375,468 | $13,816,169 |
South Of Market Mercy Housing Denver, CO | $1,397,293 | $161,294 |
Mccalls Community Homes Inc Ada, OK | $3,788,949 | $9,810,630 |
Western Region Nonprofit Housing Corporation Salt Lake City, UT | $76,676,954 | $12,236,656 |
Habitat For Humanity Tucson Inc Tucson, AZ | $32,170,830 | $10,758,994 |