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← SAE FINANCIAL AND HOUSING CORPORATION

Form 990 for tax year 2022

Filed by SAE FINANCIAL AND HOUSING CORPORATION.

Totals

Total revenue
$3,170,279
Total expenses
$4,019,344
Contributions and grants received
$212,586
Grants paid
$0
Program service revenue
$3,039,772
Investment income
$16,024
Other revenue
-$98,103
Total assets, end of year
$25,298,292
Total liabilities, end of year
$14,502,202
Net assets or fund balances, end of year
$10,796,090
Program services expenses (Part IX)
$3,544,798
Management and general expenses
$474,546
Fundraising expenses
$0
Program service expenses (Part III)
$3,544,798

Program services were 88.2% 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.

  • 1d · Related organizations

    $178,970

  • 1f · All other contributions, gifts and grants

    $33,616

  • 2a · Program service revenue: RENTAL INCOME

    total $2,684,807 · related or exempt $2,684,807

  • 2b · Program service revenue: OTHER MANAGEMENT FEES

    total $273,165 · related or exempt $273,165

  • 2c · Program service revenue: PARLOR FEE

    total $81,800 · related or exempt $81,800

  • 3 · Investment income

    total $16,024 · unrelated business $16,024

  • 6a · Gross rents

    real property $46,958

  • 6b · Less rental expenses

    real property $195,086

  • 6c · Rental income or loss

    real property -$148,128

  • 6d · Net rental income or loss

    total -$148,128 · unrelated business -$148,128

  • 11a · Other revenue: OTHER REVENUE

    total $50,025 · related or exempt $50,025

  • 11e · Other revenue, total

    $50,025

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $642,880 · program services $450,016 · management and general $192,864

  • 11b · Fees: legal

    total $35,619 · program services $7,230 · management and general $28,389

  • 11c · Fees: accounting

    total $27,833 · program services $7,343 · management and general $20,490

  • 11g · Fees: other

    total $96,545 · program services $40,299 · management and general $56,246

  • 13 · Office expenses

    total $42,719 · program services $36,338 · management and general $6,381

  • 16 · Occupancy

    total $1,035,407 · program services $1,035,327 · management and general $80

  • 17 · Travel

    total $127,408 · program services $46,875 · management and general $80,533

  • 20 · Interest

    total $528,901 · program services $498,887 · management and general $30,014

  • 22 · Depreciation, depletion and amortization

    total $1,180,113 · program services $1,180,113

  • 23 · Insurance

    total $143,410 · program services $126,585 · management and general $16,825

  • 24a · Other expenses: MISCELLANEOUS EXPENSE

    total $95,468 · program services $58,660 · management and general $36,808

  • 24b · Other expenses: HOUSE DEVELOPMENT COSTS

    total $55,698 · program services $55,698

  • 24c · Other expenses: BANK FEES

    total $7,343 · program services $1,427 · management and general $5,916

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $481,618 · end of year $276,156

  • 2 · Savings and temporary cash investments

    beginning of year $120,000 · end of year $120,000

  • 4 · Accounts receivable

    beginning of year $616,099 · end of year $902,977

  • 8 · Inventories for sale or use

    beginning of year $6,962

  • 9 · Prepaid expenses and deferred charges

    beginning of year $95,384 · end of year $104,922

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

    $32,568,122

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

    $9,519,418

  • 10c · Land, buildings and equipment, net

    beginning of year $23,836,631 · end of year $23,048,704

  • 11 · Investments: publicly traded securities

    beginning of year $554,946 · end of year $685,064

  • 14 · Intangible assets

    beginning of year $189,823 · end of year $160,469

  • 17 · Accounts payable and accrued expenses

    beginning of year $183,639 · end of year $120,997

  • 23 · Secured mortgages and notes payable

    beginning of year $13,912,252 · end of year $13,885,597

  • 25 · Other liabilities

    beginning of year $224,585 · end of year $495,608

  • 27 · Net assets without donor restrictions

    beginning of year $11,580,987 · end of year $10,796,090

Mission and programs · 2022

Mission

TO BUILD STRONG CHAPTERS THROUGH GREAT HOUSING; PROMOTE SAFE, COMPETITIVE AND AFFORDABLE FRATERNITY HOUSING THROUGH PROPERTY MANAGEMENT RESOURCES AND SERVICES; SUPPORT LOCAL HOUSE CORPORATIONS TO BECOME FINANCIALLY SOUND AND ITS VOLUNTEERS WELL TRAINED.

  • TO BUILD STRONG CHAPTERS THROUGH GREAT HOUSING; PROMOTE SAFE, COMPETITIVE AND AFFORDABLE FRATERNITY HOUSING THROUGH PROPERTY MANAGEMENT RESOURCES AND SERVICES; SUPPORT LOCAL HOUSE CORPORATIONS TO BECOME FINANCIALLY SOUND AND ITS VOLUNTEERS WELL TRAINED.

    Expenses $3,544,798

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • LARRY JONES

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • REX CARLSON

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • LANCE DENARDIN

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • RICHARD LIES

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • WILLIAM MCCANN

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • GREG SOMERS

    CEO

    Total calculated
    $175,600
    From this org
    $0
    From related orgs
    $154,316
    Other
    $21,284
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    not reported + $154,316 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $21,284 related
    Nontaxable benefits
    not reported
    Filer's total
    not reported + $175,600 related

  • JUAN FARIA

    CONTROLLER

    Total calculated
    $90,324
    From this org
    $0
    From related orgs
    $82,363
    Other
    $7,961
    Hours/week
    40

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349315995

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