Form 990 for tax year 2022
Filed by REAL ESTATE EDUCATION AND COMMUNITY HOUSING INC.
Totals
- Total revenue
- $1,698,915
- Total expenses
- $1,950,159
- Contributions and grants received
- $4,899
- Grants paid
- $0
- Program service revenue
- $1,685,556
- Investment income
- $0
- Other revenue
- $8,460
- Total assets, end of year
- $2,788,627
- Total liabilities, end of year
- $2,112,649
- Net assets or fund balances, end of year
- $675,978
- Program services expenses (Part IX)
- $1,331,100
- Management and general expenses
- $586,381
- Fundraising expenses
- $32,678
- Program service expenses (Part III)
- $1,331,100
Program services were 68.3% 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.
-
1f · All other contributions, gifts and grants
$4,899
-
2a · Program service revenue: Grants and Legal Assitance
total $945,496
-
2b · Program service revenue: Rent and Interest
total $100,607
-
2c · Program service revenue: Fees Reimbursed Costs
total $169,503
-
2d · Program service revenue: Gain on Transactions with Properties
total $469,950
-
11a · Other revenue: Investment in Arise Real Estate K 1
total $8,460
-
11e · Other revenue, total
$8,460
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 $253,900 · management and general $224,535 · fundraising $29,365
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $436,986 · program services $436,986
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $9,775 · program services $9,775
-
10 · Payroll taxes
total $54,200 · program services $11,889 · management and general $38,998 · fundraising $3,313
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $24,217 · management and general $24,217
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $7,635 · program services $7,635
-
13 · Office expenses
total $30,443 · program services $15,456 · management and general $14,987
-
14 · Information technology
total $12,674 · program services $3,821 · management and general $8,853
-
15 · Royalties
total $0
-
16 · Occupancy
total $165,503 · program services $24,897 · management and general $140,606
-
17 · Travel
total $17,918 · management and general $17,918
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $87,946 · program services $500 · management and general $87,446
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $7,595 · management and general $7,595
-
23 · Insurance
total $11,592 · program services $5,624 · management and general $5,968
-
24a · Other expenses: Closing Costs Properties
total $108,963 · program services $108,963
-
24b · Other expenses: Equipment Maintenance and Rentals/Contractors
total $355,726 · program services $355,726
-
24c · Other expenses: Property Management and Fees
total $177,399 · program services $177,399
-
24d · Other expenses: Communications
total $49,367 · program services $49,367
-
24e · All other expenses
total $138,320 · program services $123,062 · management and general $15,258
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $112,733 · end of year $83,225
-
7 · Other notes and loans receivable
beginning of year $15,000 · end of year $8,460
-
9 · Prepaid expenses and deferred charges
beginning of year $2,263 · end of year $1,558
-
10a · Land, buildings and equipment: cost or other basis
$85,292
-
10b · Land, buildings and equipment: accumulated depreciation
$68,077
-
10c · Land, buildings and equipment, net
beginning of year $24,810 · end of year $17,215
-
13 · Investments: program-related
beginning of year $2,525,409 · end of year $2,659,169
-
15 · Other assets
end of year $19,000
-
17 · Accounts payable and accrued expenses
beginning of year $8,363 · end of year $72,210
-
23 · Secured mortgages and notes payable
beginning of year $1,604,695 · end of year $2,040,439
-
25 · Other liabilities
beginning of year $409,043
-
27 · Net assets without donor restrictions
beginning of year $658,114 · end of year $675,978
Mission and programs · 2022
Mission
A HUD Approved foreclosure and housing counseling organization, and a Homefree USA affiliate, whose mission is to inspire and motivate the low to moderate income families to reach for and take the steps necessary to achieve home ownership, or stay off foreclosures through education and guidance.
Activities or mission (Part I)
A HUD approved foreclosure and housing counseling and Homefree USA Affiliate organization whose mission is to inspire and motivate the low to moderate income members to reach for an take the steps required to achieve home ownership, or stay off foreclosures actions through education and guidance.
-
Mortgage acquisition and foreclosure assistance to low to moderate income families.
Expenses $1,331,100
As filed on the 2022 return.
Listed in Part VII
-
Patricia Tracey
Pres
- Total calculated
- $0
- Hours/week
- 40 + 5 related
-
Detra Smith
Key Employee
- Total calculated
- $0
- Hours/week
- 35 + 5 related
-
Gary Bellfleur
Key Emp
- Total calculated
- $0
- Hours/week
- 40 + 5 related
-
Lusia Scotland
Key Emp
- Total calculated
- $0
- Hours/week
- 20 + 5 related
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.
Schedule J
Answered yes
None.
Answered no
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
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.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 5 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202322789349300627
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