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← EASTERN EIGHT COMMUNITY DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by EASTERN EIGHT COMMUNITY DEVELOPMENT CORPORATION.

Totals

Total revenue
$4,015,634
Total expenses
$4,089,385
Contributions and grants received
$1,005,033
Grants paid
$0
Program service revenue
$3,001,729
Investment income
$8,872
Other revenue
$0
Total assets, end of year
$17,935,027
Total liabilities, end of year
$5,213,487
Net assets or fund balances, end of year
$12,721,540
Program services expenses (Part IX)
$3,356,986
Management and general expenses
$732,399
Fundraising expenses
$0
Program service expenses (Part III)
$3,356,986

Program services were 82.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $980,033

  • 1f · All other contributions, gifts and grants

    $25,000

  • 2a · Program service revenue: Home and land sales

    total $1,613,000 · related or exempt $1,613,000

  • 2b · Program service revenue: Rental income

    total $1,310,933 · related or exempt $1,310,933

  • 2c · Program service revenue: Home ownership training

    total $15,714 · related or exempt $15,714

  • 2d · Program service revenue: Administration fees

    total $50,027 · related or exempt $50,027

  • 2e · Program service revenue: Other income

    total $12,055 · related or exempt $12,055

  • 3 · Investment income

    total $8,872 · related or exempt $8,872

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $788,640 · program services $436,644 · management and general $351,996

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $145,617 · program services $75,178 · management and general $70,439

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $4,939 · program services $3,897 · management and general $1,042

  • 11c · Fees: accounting

    total $29,500 · program services $23,600 · management and general $5,900

  • 11d · Fees: lobbying

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $1,214 · program services $1,189 · management and general $25

  • 12 · Advertising and promotion

    total $1,526 · program services $1,526

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $24,051 · program services $6,216 · management and general $17,835

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $16,796 · program services $6,518 · management and general $10,278

  • 20 · Interest

    total $183,745 · program services $83,008 · management and general $100,737

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $564,931 · program services $517,717 · management and general $47,214

  • 23 · Insurance

    total $135,105 · program services $94,734 · management and general $40,371

  • 24a · Other expenses: Cost of homes

    total $1,434,422 · program services $1,434,422

  • 24b · Other expenses: Repairs and maintenance

    total $343,926 · program services $338,964 · management and general $4,962

  • 24c · Other expenses: Contract services

    total $119,546 · program services $117,164 · management and general $2,382

  • 24e · All other expenses

    total $295,427 · program services $216,209 · management and general $79,218

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,600,685 · end of year $1,227,446

  • 4 · Accounts receivable

    beginning of year $151,368 · end of year $131,831

  • 7 · Other notes and loans receivable

    beginning of year $112,402 · end of year $646,259

  • 8 · Inventories for sale or use

    beginning of year $1,221,217 · end of year $1,358,069

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,115 · end of year $4,446

  • 10a · Land, buildings and equipment: cost or other basis

    $16,444,070

  • 10b · Land, buildings and equipment: accumulated depreciation

    $5,817,468

  • 10c · Land, buildings and equipment, net

    beginning of year $11,139,770 · end of year $10,626,602

  • 15 · Other assets

    beginning of year $3,881,715 · end of year $3,940,374

  • 17 · Accounts payable and accrued expenses

    beginning of year $143,661 · end of year $211,463

  • 19 · Deferred revenue

    beginning of year $357,432 · end of year $352,432

  • 23 · Secured mortgages and notes payable

    beginning of year $4,737,003 · end of year $4,570,083

  • 25 · Other liabilities

    beginning of year $77,885 · end of year $79,509

  • 27 · Net assets without donor restrictions

    beginning of year $11,655,303 · end of year $11,693,947

  • 28 · Net assets with donor restrictions

    beginning of year $1,139,988 · end of year $1,027,593

Mission and programs · 2022

Mission

To assist in the development of and to develop to the fullest extent permitted by law affordable housing for citizens of very low, low and moderate incomes in Carter, Greene, Hancock, Hawkins, Johnson, Sullivan, Unicoi and Washington Counties Tennessee

Activities or mission (Part I)

Provide housing for very low, low and moderate income individuals

  • Eastern Eight Community Development Corporation, Inc. provides affordable housing for very low, low and moderate income households in Northeast Tennessee. This is accomplished through the provision of home buyer education courses, housing counseling to potential home buyers and housing development programs. Eastern Eight provides constructed homes, remodeled homes and rental facilities for qualifying individuals.

    Expenses $3,356,986

As filed on the 2022 return.

Listed in Part VII

  • Sherry Trent

    Executive Director

    Total calculated
    $117,905
    From this org
    $103,183
    From related orgs
    $0
    Other
    $14,722
    Hours/week
    40

  • John Dillow

    Director of Finance

    Total calculated
    $109,601
    From this org
    $96,267
    From related orgs
    $0
    Other
    $13,334
    Hours/week
    40

  • Steve Baldwin

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Jeff Linville

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Rose Neese

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Bethany O'Leary

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Ken Rea

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Shawn Porter

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Todd Smith

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Virginia Robinson

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Beverly Stevens

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Ernie Stoltzfus

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Amy Baldwin

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Ashlee Ebberts

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Robert Williams

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Micah Collie

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Ron Von Essen

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Lee Chase

    Interim Chair

    Total calculated
    $0
    Hours/week
    1

  • Phil Carriger

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Cindy Winn

    Secretary

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
24 October 2023
IRS schema version
2022v5.0
Source object
202302979349300020

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