Innovative Housing Opportunities Inc
- Assets
- $14.8m
- Revenue
- $6.7m
- Investments
- $0.0
- Employees
- 12
- Location
- Santa Ana, CA
- Founding
- 12/1977
- Data as of
- 12/2022
- EIN
- 95-3068902
Organization Overview
Innovative Housing Opportunities Inc is located in Santa Ana, CA. The organization was established in 1977. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Innovative Housing Opportunities Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovative Housing Opportunities 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 12/2022, Innovative Housing Opportunities Inc generated $6.7m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $2.7m during the year ending 12/2022. While expenses have increased by 8.2% 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
IHO IS AN AWARD-WINNING NONPROFIT DEVELOPER OF AFFORDABLE, PERMANENT RENTAL, MIXED-INCOME, AND MIXED-USE HOUSING COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1976, INNOVATIVE HOUSING OPPORTUNITIES (IHO) HAS DEVELOPED ANDADVOCATED FOR HIGH-QUALITY, PERMANENT RENTAL HOMES FOR LOW TO MODERATE-INCOME RESIDENTS IN CALIFORNIA. OUR PORTFOLIO INCLUDES AFFORDABLE, MIXED-INCOME, MIXED-POPULATION, AND MIXED-USE HOUSING COMMUNITIES WITH INTEGRATED, HOLISTIC RESIDENT SERVICES AND PROGRAMS THAT ENRICH LIVES, ADVANCE SOCIAL EQUITY AND ACCELERATE THE ECONOMIC SELF-RELIANCE OF FAMILIES, SENIORS, AND SPECIAL NEEDS RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Kroot Board Chair Ec Chair/prc | OfficerTrustee | 2 | $0 |
Mary Watson-Bruce Board Vice Chair Ec/fdmc | OfficerTrustee | 2 | $0 |
Betsy Densmore Board Secretary Ec/fdmc/ac Chair | OfficerTrustee | 2 | $0 |
Brandon Mccall Board Treasurer Ec/pfc/fc Chair | OfficerTrustee | 2 | $0 |
Lacheryl Porter Board Director Ac/prc | Trustee | 2 | $0 |
Elizabeth Trombley Board Director Fdmc | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $149,985 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $542,364 |
| Noncash contributions included in lines 1a–1f | $955 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $692,349 |
| Total Program Service Revenue | $5,933,032 |
| Investment income | $127,061 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$38,139 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,714,303 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,075 |
| 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. | $384,745 |
| Compensation of current officers, directors, key employees. | $76,949 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $784,767 |
| Pension plan accruals and contributions | $32,707 |
| Other employee benefits | $0 |
| Payroll taxes | $77,084 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,736 |
| Fees for services: Accounting | $100,024 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $137,510 |
| Advertising and promotion | $24,205 |
| Office expenses | $72,560 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $89,427 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,953 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,864 |
| Insurance | $152,793 |
| All other expenses | $0 |
| Total functional expenses | $2,690,266 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,924,797 |
| Savings and temporary cash investments | $2,292,672 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $560,288 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,706,443 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,500 |
| Net Land, buildings, and equipment | $76,964 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,279,405 |
| Total assets | $14,844,069 |
| Accounts payable and accrued expenses | $747,759 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $320,708 |
| Total liabilities | $1,068,467 |
| Net assets without donor restrictions | $13,362,973 |
| Net assets with donor restrictions | $412,629 |
| 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 | $14,844,069 |