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Nonprofiteer
← GRINNELL AREA HOUSING INC

Form 990 for tax year 2023

Filed by GRINNELL AREA HOUSING INC.

Totals

Total revenue
$512,288
Total expenses
$304,155
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$511,557
Investment income
$731
Other revenue
$0
Total assets, end of year
$482,672
Total liabilities, end of year
$169,880
Net assets or fund balances, end of year
$312,792
Program services expenses (Part IX)
$225,293
Management and general expenses
$78,862
Fundraising expenses
$0
Program service expenses (Part III)
$225,293

Program services were 74.1% 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.

  • 2a · Program service revenue: OTHER PROJECT SOURCES

    total $212,159 · related or exempt $212,159

  • 2b · Program service revenue: TENANT RENT

    total $148,324 · related or exempt $148,324

  • 2c · Program service revenue: RENTAL ASSISTANCE

    total $123,330 · related or exempt $123,330

  • 2d · Program service revenue: INTEREST SUBSIDY

    total $22,293 · related or exempt $22,293

  • 2e · Program service revenue: LAUNDRY/CABLE

    total $2,820 · excluded $2,820

  • 2f · All other program service revenue

    total $2,631 · related or exempt $2,631

  • 3 · Investment income

    total $731 · excluded $731

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $51,096 · management and general $51,096

  • 11b · Fees: legal

    total $669 · management and general $669

  • 11c · Fees: accounting

    total $1,040 · management and general $1,040

  • 12 · Advertising and promotion

    total $1,325 · management and general $1,325

  • 13 · Office expenses

    total $24,003 · management and general $24,003

  • 16 · Occupancy

    total $149,567 · program services $149,567

  • 20 · Interest

    total $30,798 · program services $30,798

  • 22 · Depreciation, depletion and amortization

    total $15,177 · program services $15,177

  • 23 · Insurance

    total $29,751 · program services $29,751

  • 24a · Other expenses: OTHER ADMINISTRATIVE EXP

    total $705 · management and general $705

  • 24b · Other expenses: GRANT SERVICE CHARGE

    total $24 · management and general $24

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,235 · end of year $5,923

  • 2 · Savings and temporary cash investments

    beginning of year $104,020 · end of year $67,346

  • 4 · Accounts receivable

    beginning of year $221

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,417 · end of year $1,417

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

    $2,083,947

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

    $1,675,961

  • 10c · Land, buildings and equipment, net

    beginning of year $207,447 · end of year $407,986

  • 17 · Accounts payable and accrued expenses

    beginning of year $29,517 · end of year $5,527

  • 23 · Secured mortgages and notes payable

    beginning of year $171,766 · end of year $145,675

  • 25 · Other liabilities

    beginning of year $14,398 · end of year $18,678

  • 27 · Net assets without donor restrictions

    beginning of year $104,659 · end of year $312,792

Mission and programs · 2023

Mission

TO PROVIDE AFFORDABLE RENTAL HOUSING TO ELDERLY AND LOW INCOME RESIDENTS.

  • THE CORPORATION LEASES 3 APARTMENT BUILDINGS WITH A TOTAL OF 63 UNITS FOR ELDERLY AND LOW INCOME RURAL RESIDENTS AND MAINTAINED 73% OCCUPANCY IN 2023.

    Expenses $225,293 · Revenue $511,557

As filed on the 2023 return.

Listed in Part VII

  • Doug Cameron

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Frank Shults

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Robert G Anderson Resigned 1022

    SECRETARY/TR

    Total calculated
    $0

  • Kate Slater Joined 1122

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Doris L Hotchkin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Kolpin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Betty Ludden Joined 122

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Donald Schild Resigned 122

    DIRECTOR

    Total calculated
    $0

  • Tracy Sadler Resigned 122

    DIRECTOR

    Total calculated
    $0

  • Kevin Stutz Resigned 122

    DIRECTOR

    Total calculated
    $0

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.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
11 July 2024
IRS schema version
2023v5.0
Source object
202411949349300406

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