Barrett Foundation Inc
- Assets
- $5.5m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 38
- Location
- Albuquerque, NM
- Founding
- 02/1986
- Data as of
- 06/2022
- EIN
- 85-0336208
Organization Overview
Barrett Foundation Inc is located in Albuquerque, NM. The organization was established in 1986. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Barrett Foundation Inc employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Barrett Foundation 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 06/2022, Barrett Foundation Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $2.6m during the year ending 06/2022. 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 END HOMELESSNESS FOR WOMEN AND CHILDREN BY PROVIDING SHELTER, HOUSING AND SUPPORTIVE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BARRETT HOUSE SHELTER FOR WOMEN AND CHILDREN: IN MAY 1995, BARRETT FOUNDATION OPENED BARRETT HOUSE, A SHELTER FOR HOMELESS WOMEN AND CHILDREN IN ALBUQUERQUE, NM. BARRETT HOUSE SERVICES AN AVERAGE OF 35 WOMEN AND CHILDREN EVERY NIGHT, PROVIDING THREE MEALS A DAY, 365 DAYS A YEAR. IN ADDITION TO PROVIDING FOOD AND SHELTER, ALL RESIDENTS RECEIVE ONE-ON-ONE CASE MANAGEMENT TO HELP SECURE LONG-TERM STABLE HOUSING. THROUGH COLLABORATION WITH PARTNER AGENCIES, RESIDENTS ALSO HAVE ACCESS TO CAREER COUNSELING, MEDICAL AND DENTAL BENEFITS, AFTER SCHOOL TUTORING FOR CHILDREN, HEALTH/WELLNESS ACTIVITIES, COOKING AND GARDENING LESSONS, AND A VARIETY OF OTHER OPPORTUNITIES THAT PROVIDE LIFE SKILLS.
THE PERMANENT SUPPORTIVE HOUSING PROGRAM PROVIDES LEASING ASSISTANCE FOR INDIVIDUALS AND FAMILIES WHO ARE CHRONICALLY HOMELESS AND HAVE A DOCUMENTED DISABILITY. IN ADDITION TO LEASING ASSISTANCE, PROGRAM PARTICIPANTS RECEIVE INDIVIDUALIZED CASE MANAGEMENT TO ASSIST WITH OVERCOMING BARRIERS, STRENGTHENING LIFE SKILLS, ACCESSING SERVICES, AND CONNECTS TO RESOURCES.
BRIDGES RAPID REHOUSING PROGRAM HELPS INDIVIDUALS AND FAMILIES SECURE STABLE HOUSING AND PROVIDE RENTAL ASSISTANCE FOR UP TO 24 MONTHS BASED ON NEED. PROGRAM PARTICIPANTS RECEIVE INDIVIDUALIZED CASE MANAGEMENT TO ASSIST WITH OVERCOMING BARRIERS, STRENGTHING LIFE SKILLS, INCREASING INCOME, APPLYING FOR ENTITLEMENTS, CONNECTING TO ADDITIONAL RESOURCES AND SERVICES, AND BUILDING PARTICIPANTS' CAPACITY TO MAINTAIN HOUSING AT PROGRAM EXIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Hoffman Executive Dir. | Officer | 38 | $95,176 |
Kimberly Romero CFO | 38 | $45,037 | |
Cletus Stoflet CFO | 38 | $16,178 | |
Jessica Locker Treasurer | OfficerTrustee | 1.5 | $0 |
Maya Elrick Chairman | OfficerTrustee | 1.5 | $0 |
Dana Bell Vice President | OfficerTrustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,157,623 |
| All other contributions, gifts, grants, and similar amounts not included above | $506,110 |
| Noncash contributions included in lines 1a–1f | $74,990 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,663,733 |
| Total Program Service Revenue | $231,548 |
| Investment income | $9,328 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $111,187 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $12,440 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,028,637 |
| 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. | $151,153 |
| Compensation of current officers, directors, key employees. | $151,153 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $881,083 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $90,053 |
| Payroll taxes | $69,938 |
| Fees for services: Management | $11,156 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,429 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,364 |
| Advertising and promotion | $0 |
| Office expenses | $16,455 |
| Information technology | $87,161 |
| Royalties | $0 |
| Occupancy | $78,323 |
| Travel | $7,353 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,978 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $235,334 |
| Insurance | $51,714 |
| All other expenses | $778 |
| Total functional expenses | $2,581,673 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $206,382 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $50,000 |
| Accounts receivable, net | $300,628 |
| 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 | $44,107 |
| Net Land, buildings, and equipment | $4,292,822 |
| Investments—publicly traded securities | $489,307 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $68,109 |
| Total assets | $5,451,355 |
| Accounts payable and accrued expenses | $136,953 |
| 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 | $3,262,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,692 |
| Total liabilities | $3,417,145 |
| Net assets without donor restrictions | $1,671,750 |
| Net assets with donor restrictions | $362,460 |
| 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 | $5,451,355 |