Housing Corporation Of America
- Assets
- $13.6m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 12
- Location
- Bountiful, UT
- Founding
- 12/1989
- Data as of
- 12/2022
- EIN
- 87-0457932
Organization Overview
Housing Corporation Of America is located in Bountiful, UT. The organization was established in 1989. 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 12/2022, Housing Corporation Of America employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Housing Corporation Of America 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 12/2022, Housing Corporation Of America generated $2.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. While expenses have increased by 0.6% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND PROVIDE AFFORDABLE HOUSING WHILE IMPROVING THE SURROUNDING COMMUNITIES AND OFFERING RESIDENTS A SENSE OF DIGNITY AND PRIDE ASSOCIATED WITH AN IMPROVED STANDARD OF LIVING
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP AND MANAGE HOUSING PROJECTS FOR LOW AND MODERATE INCOME INDIVIDUALS AND FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Corey Heimlich Vice President | OfficerTrustee | 30 | $150,492 |
Bonnie Young Secretary | Officer | 30 | $126,600 |
Carol Cromar President/treasurer | OfficerTrustee | 30 | $126,377 |
Scott L Bringhurst Jr Chairman | OfficerTrustee | 0.5 | $1,500 |
Mark F Nelson Trustee | Trustee | 0.5 | $1,500 |
Sandra Greenway Trustee | Trustee | 0.5 | $1,500 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,018,123 |
| Investment income | $174,481 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $2,192,630 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $22,000 |
| Grants and other assistance to domestic individuals. | $44,801 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $409,468 |
| Compensation of current officers, directors, key employees. | $6,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $667,134 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $186,444 |
| Payroll taxes | $84,808 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,802 |
| Fees for services: Accounting | $20,116 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80,225 |
| Fees for services: Other | $256 |
| Advertising and promotion | $8,107 |
| Office expenses | $57,391 |
| Information technology | $19,114 |
| Royalties | $0 |
| Occupancy | $31,181 |
| Travel | $15,881 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,242 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,898 |
| Insurance | $3,998 |
| All other expenses | $50,758 |
| Total functional expenses | $1,724,624 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,319,031 |
| Savings and temporary cash investments | $917,318 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,030,016 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $535,950 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,756 |
| Net Land, buildings, and equipment | $7,324 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,745,919 |
| Intangible assets | $0 |
| Other assets | $17,518 |
| Total assets | $13,575,832 |
| Accounts payable and accrued expenses | $31,494 |
| Grants payable | $0 |
| Deferred revenue | $602 |
| 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 | $15,650 |
| Total liabilities | $47,746 |
| Net assets without donor restrictions | $13,528,086 |
| 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 | $13,575,832 |
Grants Awarded
Over the last fiscal year, Housing Corporation Of America has awarded $21,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
YMCA OF METROPOLITAN LOS ANGELES PURPOSE: TO HELP FUND TEENS TO ATTEND THE YMCA BOLD & GOLD OUTDOOR LEADERSHIP EXPERIENCE | $6,000 |
LOS ANGELES REGIONAL FOOD BANK PURPOSE: TO COMBAT HUNGER IN THE COMMUNITY | $15,000 |