Harris Homeownership Foundation
- Assets
- $1.3m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Memphis, TN
- Founding
- Data as of
- 12/2023
- EIN
- 88-3740101
Organization Overview
Harris Homeownership Foundation is located in Memphis, TN. According to its NTEE Classification (L80) the organization is classified as: Housing Support, 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. Harris Homeownership Foundation 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, Harris Homeownership Foundation generated $1.2m in total revenue.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO MAKE HOUSING AVAILABLE FOR PURCHASE BY PEOPLE WHO ARE LOW-INCOME, LGBTQ, BLACK, AND/OR INDIGENOUS, AS WELL AS OTHER PERSONS OF COLOR AND THEREBY REMOVE SHELBY COUNTY HOUSING FROM THE SPECULATION MARKET. HOMEOWNERSHIP THAT COSTS LESS THAN RENTING WILL EMPOWER PERSONS TO STABILIZE FINANCIALLY AND SECURE GREATER FUTURE OPPORTUNITIES ENABLING THEM TO HELP BUILD AND SHAPE THEIR COMMUNITIES, WHICH HAVE HISTORICALLY BEEN NEGLECTED AND EXPLOITED.THE FIRST PHASE OF FUNDING WAS RECEIVED ON DECEMBER 15, 2023. THE CHARITABLE ACTIVITIES WILL BEGIN IN 2024 THROUGH THE PURCHASE AND RENOVATION OF ONE HOUSE FOR SALE TO A LOW INCOME, FIRST-TIME HOMEBUYER. AFTER THAT SALE A DETAILED EVALUATION OF PROCESSES AND TIMEFRAME WILL BE CONDUCTED IN TO DESIGN THE SECOND ROUND OF PURCHASING AND PREPARING HOUSES FOR SALE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Delphia Harris President, Executive Director | 15 | $0 | |
Andrea Kilgannon Secretary | 2 | $0 | |
Ashley Caldwell Director | 2 | $0 | |
Aylen Mercado Director | 2 | $0 | |
Natalie Robinson Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $89,241 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $2,858 |
| Net Gain on Sale of Assets | $1,077,959 |
| Capital Gain Net Income | $1,077,959 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $1,170,058 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,850 |
| Total operating and administrative expenses | $6,100 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $6,100 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,163,958 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $125,232 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,289,190 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |