Powers Housing Development Inc
- Assets
- $575.9k
- Revenue
- $198.9k
- Investments
- $0.0
- Employees
- 0
- Location
- North Bend, OR
- Founding
- 07/1980
- Data as of
- 03/2023
- EIN
- 93-0764167
Organization Overview
Powers Housing Development Inc is located in North Bend, OR. The organization was established in 1980. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Powers Housing Development 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 03/2023, Powers Housing Development Inc generated $198.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $382.7k during the year ending 03/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING PROJECT UNDER SEC 8 FOR DISABLED AND ELDERLY (26 UNITS)
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Noble Adamek President | Trustee | 0 | $0 |
Jackie Anderson Secretary | Trustee | 0 | $0 |
Craig Rector Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $54,356 |
| 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 | $54,356 |
| Total Program Service Revenue | $243,082 |
| Investment income | $81 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$98,580 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $198,939 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,984 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,652 |
| Payroll taxes | $2,293 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $192 |
| Fees for services: Accounting | $19,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,085 |
| Office expenses | $14,440 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $22,191 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,433 |
| Insurance | $18,748 |
| All other expenses | $25,487 |
| Total functional expenses | $382,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,027 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $12,075 |
| Accounts receivable, net | $1,830 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,707 |
| Prepaid expenses and deferred charges | $11,740 |
| Net Land, buildings, and equipment | $354,294 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $178,243 |
| Total assets | $575,916 |
| Accounts payable and accrued expenses | $46,802 |
| 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 | $365,907 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,958 |
| Total liabilities | $419,667 |
| Net assets without donor restrictions | $156,249 |
| 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 | $575,916 |