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← RESIDENTIAL OPPORTUNITIES INCORPORATED

Form 990 for tax year 2023

Filed by RESIDENTIAL OPPORTUNITIES INCORPORATED.

Totals

Total revenue
$168,821
Total expenses
$144,449
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$60,294
Investment income
$419
Other revenue
$108,108
Total assets, end of year
$171,585
Total liabilities, end of year
$331,158
Net assets or fund balances, end of year
-$159,573
Program services expenses (Part IX)
$88,136
Management and general expenses
$56,313
Fundraising expenses
$0
Program service expenses (Part III)
$88,136

Program services were 61.0% 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: TENANT ASSISTANCE PAYM

    total $60,294 · related or exempt $60,294

  • 3 · Investment income

    total $419 · excluded $419

  • 6a · Gross rents

    real property $51,076

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $51,076

  • 6d · Net rental income or loss

    total $51,076 · related or exempt $51,076

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $55,238 · related or exempt $55,238

  • 11b · Other revenue: LAUNDRY AND VENDING RE

    total $1,794 · related or exempt $1,794

  • 11e · Other revenue, total

    $57,032

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $23,541 · management and general $23,541

  • 9 · Other employee benefits

    total $6,203 · management and general $6,203

  • 10 · Payroll taxes

    total $1,801 · management and general $1,801

  • 11a · Fees: management

    total $10,260 · management and general $10,260

  • 11c · Fees: accounting

    total $7,000 · management and general $7,000

  • 13 · Office expenses

    total $983 · management and general $983

  • 16 · Occupancy

    total $27,176 · program services $27,176

  • 20 · Interest

    total $21,852 · program services $21,852

  • 22 · Depreciation, depletion and amortization

    total $17,952 · program services $17,952

  • 23 · Insurance

    total $6,816 · program services $6,816

  • 24a · Other expenses: BAD DEBTS

    total $4,935 · management and general $4,935

  • 24b · Other expenses: CONTRACTS

    total $3,272 · program services $3,272

  • 24c · Other expenses: MISCELLANEOUS OPERATING

    total $3,215 · program services $3,215

  • 24d · Other expenses: GROUND SUPPLIES

    total $3,188 · program services $3,188

  • 24e · All other expenses

    total $6,255 · program services $4,665 · management and general $1,590

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,364 · end of year $3,504

  • 2 · Savings and temporary cash investments

    beginning of year $22,013 · end of year $24,994

  • 4 · Accounts receivable

    beginning of year $4,815 · end of year $5,946

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,872 · end of year $2,308

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

    $710,028

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

    $575,195

  • 10c · Land, buildings and equipment, net

    beginning of year $148,488 · end of year $134,833

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,482 · end of year $5,070

  • 23 · Secured mortgages and notes payable

    beginning of year $261,055 · end of year $226,894

  • 25 · Other liabilities

    beginning of year $97,960 · end of year $99,194

  • 27 · Net assets without donor restrictions

    beginning of year -$183,945 · end of year -$159,573

Mission and programs · 2023

Mission

TO PROVIDE SECTION 202 HOUSING

  • TIMBERLAKE VILLAGE APARTMENTS PROJECT- A RENTAL HOUSING PROJECT TO HOUSE ELDERLY FAMILIES AND ELDERLY PERSONS IN ACCORDANCE WITH SECTION 202, NATIONAL HOUSING ACT OF 1959.

    Expenses $88,136 · Revenue $168,402

  • TIMBERLAKE VILLAGE APARTMENTS PROJECT- A RENTAL HOUSING PROJECT TO HOUSE ELDERLY FAMILIES AND ELDERLY PERSONS IN ACCORDANCE WITH SECTION 202, NATIONAL HOUSING ACT OF 1959.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Nemiah Braxton

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Pamela Decamp

    VICE-PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Sharon Smith

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Rian Neuberger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lidia Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nick Pinero

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2023
Filed
20 August 2024
IRS schema version
2023v5.1
Source object
202412709349300141

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