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Better Homes Inc

Organization summary

Type of Nonprofit

Designated as a Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Housing, Shelter / Housing Development, Construction, Management (NTEE)

Donations to this organization are tax deductible.

Summary charts: organization finances over time

Revenue
$507k (2022)

Expenses
$303k (2022)

Total Assets
$3.31M (2022)

Total Liabilities
$526k (2022)

Source: Form 990 tax filings from 2011 to 2022

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$507,159
Expenses
$303,353
Net Income
$203,806
Net Assets
$2,783,469
Notable Sources of Revenue Percent of Total Revenue
Contributions $2,800
0.6%
Program Services $134,892
26.6%
Investment Income $57,198
11.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $105,476
20.8%
Net Fundraising $0
Sales of Assets $193,427
38.1%
Net Inventory Sales $0
Other Revenue $13,366
2.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $69,418
22.9%
Professional Fundraising Fees $0
Other Salaries and Wages $58,466
19.3%
Assets/Debt
Total Assets $3,309,894
Total Liabilities $526,425
Net Assets $2,783,469
Compensation
Key Employees and Officers Compensation Related Other
Carmen Watts (Executive Di) $55,000 $0 $14,418
Arlenia Brinson (Director) $0 $0 $0
Joanne Chatman (Secretary) $0 $0 $0
Valerie Gernhardt (Director) $0 $0 $0
Betty Gilbert (President) $0 $0 $0
Kay Rice Taylor (Director) $0 $0 $0
Lois Singleton (Director) $0 $0 $0
Frederick Towson (Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$442,896
Expenses
$386,803
Net Income
$56,093
Net Assets
$2,579,663
Notable Sources of Revenue Percent of Total Revenue
Contributions $25,695
5.8%
Program Services $130,460
29.5%
Investment Income $54,036
12.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $224,407
50.7%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $8,298
1.9%
Notable Expenses Percent of Total Expenses
Executive Compensation $69,830
18.1%
Professional Fundraising Fees $0
Other Salaries and Wages $58,023
15.0%
Assets/Debt
Total Assets $3,199,597
Total Liabilities $619,934
Net Assets $2,579,663
Compensation
Key Employees and Officers Compensation Related Other
Carmen Watts (Executive Director) $55,000 $0 $0
Betty Gilbert (President) $0 $0 $0
Frederick Towson (Treasurer) $0 $0 $0
Joanne Chatman (Secretary) $0 $0 $0
Lois Singleton (Director) $0 $0 $0
Valerie Gernhardt (Director) $0 $0 $0
Kay Rice Taylor (Director) $0 $0 $0
Arlenia Brinson (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$604,845
Expenses
$393,601
Net Income
$211,244
Net Assets
$2,523,570
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $122,096
20.2%
Investment Income $55,560
9.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $223,670
37.0%
Net Fundraising $0
Sales of Assets $200,000
33.1%
Net Inventory Sales $0
Other Revenue $3,519
0.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $67,125
17.1%
Professional Fundraising Fees $0
Other Salaries and Wages $46,983
11.9%
Assets/Debt
Total Assets $3,205,402
Total Liabilities $681,832
Net Assets $2,523,570
Compensation
Key Employees and Officers Compensation Related Other
Carmen Watts (Executive Director) $55,000 $0 $0
Betty Gilbert (President) $0 $0 $0
Frederick Towson (Treasurer) $0 $0 $0
Joanne Chatman (Secretary) $0 $0 $0
Lois Singleton (Director) $0 $0 $0
Valerie Gernhardt (Director) $0 $0 $0
Kay Rice Taylor (Director) $0 $0 $0
Arlenia Brinson (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$419,906
Expenses
$417,584
Net Income
$2,322
Net Assets
$2,312,326
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $120,212
28.6%
Investment Income $52,499
12.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $238,021
56.7%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $9,174
2.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $66,827
16.0%
Professional Fundraising Fees $0
Other Salaries and Wages $34,750
8.3%
Assets/Debt
Total Assets $3,059,892
Total Liabilities $747,566
Net Assets $2,312,326
Compensation
Key Employees and Officers Compensation Related Other
Carmen Watts (Executive Director) $55,000 $0 $11,827
Betty Gilbert (President) $0 $0 $0
Frederick Towson (Treasurer) $0 $0 $0
Joanne Chatman (Secretary) $0 $0 $0
Lois Singleton (Director) $0 $0 $0
Valerie Gernhardt (Director) $0 $0 $0
Kay Rice Taylor (Director) $0 $0 $0
Arlenia Brinson (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$434,579
Expenses
$481,331
Net Income
-$46,752
Net Assets
$2,310,004
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $108,465
25.0%
Investment Income $49,728
11.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $256,515
59.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $19,871
4.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $55,000
11.4%
Professional Fundraising Fees $0
Other Salaries and Wages $50,656
10.5%
Assets/Debt
Total Assets $3,052,497
Total Liabilities $742,493
Net Assets $2,310,004
Compensation
Key Employees and Officers Compensation Related Other
Carmen Watts (Executive Director) $55,000 $0 $0
Betty Gilbert (President) $0 $0 $0
Frederick Towson (Treasurer) $0 $0 $0
Joanne Chatman (Secretary) $0 $0 $0
Lois Singleton (Director) $0 $0 $0
Valerie Gernhardt (Director) $0 $0 $0
Kay Rice Taylor (Director) $0 $0 $0
Arlenia Brinson (Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$434,461
Expenses
$429,528
Net Income
$4,933
Net Assets
$2,356,756
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $110,461
25.4%
Investment Income $47,130
10.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $276,870
63.7%
Notable Expenses Percent of Total Expenses
Executive Compensation $68,879
16.0%
Professional Fundraising Fees $0
Other Salaries and Wages $55,195
12.9%
Assets/Debt
Total Assets $3,094,414
Total Liabilities $737,658
Net Assets $2,356,756
Compensation
Key Employees and Officers Compensation Related Other
Carmen Watts (Executive Director) $55,000 $0 $13,879
Betty Gilbert (President) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$436,310
Expenses
$425,629
Net Income
$10,681
Net Assets
$2,351,823
Notable Sources of Revenue Percent of Total Revenue
Contributions $13,116
3.0%
Program Services $104,056
23.8%
Investment Income $44,703
10.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $274,435
62.9%
Notable Expenses Percent of Total Expenses
Executive Compensation $69,697
16.4%
Professional Fundraising Fees $0
Other Salaries and Wages $62,435
14.7%
Assets/Debt
Total Assets $3,107,737
Total Liabilities $755,914
Net Assets $2,351,823

Document Links

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$405,896
Expenses
$420,030
Net Income
-$14,134
Net Assets
$2,341,142
Notable Sources of Revenue Percent of Total Revenue
Contributions $5,200
1.3%
Program Services $102,071
25.1%
Investment Income $42,438
10.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $256,187
63.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $66,116
15.7%
Professional Fundraising Fees $0
Other Salaries and Wages $51,412
12.2%
Assets/Debt
Total Assets $3,128,399
Total Liabilities $787,257
Net Assets $2,341,142

Document Links

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$399,745
Expenses
$449,423
Net Income
-$49,678
Net Assets
$2,355,276
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $102,994
25.8%
Investment Income $40,310
10.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $247,680
62.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $8,761
2.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $3,167,443
Total Liabilities $812,167
Net Assets $2,355,276
Compensation
Key Employees and Officers Compensation Related Other
Betty Gilbert (President) $0 $0 $0
Carmen Watts (Executive Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$505,812
Expenses
$497,123
Net Income
$8,689
Net Assets
$2,404,954
Notable Sources of Revenue Percent of Total Revenue
Contributions $139,235
27.5%
Program Services $86,395
17.1%
Investment Income $38,298
7.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $236,167
46.7%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $5,717
1.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $3,245,944
Total Liabilities $840,990
Net Assets $2,404,954
Compensation
Key Employees and Officers Compensation Related Other
Betty Gilbert (President) $0 $0 $0
Carmen Watts (Executive Director) $0 $0 $0

Document Links

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$640,296
Expenses
$464,273
Net Income
$176,023
Net Assets
$2,396,265
Notable Sources of Revenue Percent of Total Revenue
Contributions $271,424
42.4%
Program Services $85,118
13.3%
Investment Income $36,406
5.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $217,841
34.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $29,507
4.6%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $3,295,206
Total Liabilities $898,941
Net Assets $2,396,265

Document Links

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$724,272
Expenses
$366,926
Net Income
$357,346
Net Assets
$2,220,242
Notable Sources of Revenue Percent of Total Revenue
Contributions $350,189
48.4%
Program Services $85,611
11.8%
Investment Income $36,526
5.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $231,563
32.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $20,383
2.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $3,120,452
Total Liabilities $900,210
Net Assets $2,220,242

Document Links

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2004

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2003

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2002

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending Dec.
2001

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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