Residential Resources, Inc.
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$175,000.00
Projected Expenses
$175,000.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| residential resources irs ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $271,233.00 | $138,354.00 | $169,460.00 |
| Total Expenses | $180,864.00 | $146,071.00 | $160,531.00 |
| Revenue Less Expenses | $90,369.00 | ($7,717.00) | $8,929.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $20,000.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $26,282.00 | $138,354.00 | $125,000.00 |
| Contributions, Gifts, and Grants | $10,238.00 | $0.00 | $16,085.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $234,713.00 | $0.00 | $7,073.00 |
| Investment Income, Net of Losses | $0.00 | $0.00 | $0.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $0.00 | $0.00 | $0.00 |
| Revenue In-Kind | $0.00 | $0.00 | $0.00 |
| Other | $0.00 | $0.00 | $21,302.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $148,036.00 | $146,071.00 | $160,531.00 |
| Administration Expense | $32,828.00 | $0.00 | $0.00 |
| Fundraising Expense | $0.00 | $0.00 | $0.00 |
| Total Revenue/Total Expenses | 150% | 95% | 106% |
| Program Expense/Total Expenses | 82% | 100% | 100% |
| Fundraising Expense/Contributed Revenue | 0% | 0% | 0% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Program Revenue $234,713.00 | Contributions, Gifts, and Grants $138,354.00 | Government Grants $125,000.00 |
| Second Highest Funding Source & Dollar Amount | Government Grants $26,282.00 | $0.00 | Other Income $21,302.00 |
| Third Highest Funding Source & Dollar Amount | Foundation and Corporations $20,000.00 | $0.00 | Contributions, Gifts, and Grants $16,085.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $496,573.00 | $932,193.00 | $946,685.00 |
| Current Assets | $110,993.00 | $110,186.00 | $74,646.00 |
| Long-Term Liabilities | $94,925.00 | $21,144.00 | $27,000.00 |
| Current Liabilities | $3,671.00 | $29,440.00 | $47,646.00 |
| Total Net Assets | $397,977.00 | $881,609.00 | $872,039.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
December
Permit Expiration Year
2023
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| We lost a funding source, even though we have only experienced a moderate decrease in the number of clients seeking foreclosure intervention assistance, due to the fact that decrease has been significant for Tennessee overall. We are still seeking funding to help us continue offering this program for the clients in need of it. |
Foundation Staff Comments
| Financials taken from the 990. Financial documents prepared by CFO Services Inc. Comments provided by Hayley Sulfridge 3/12/24. |
