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Nonprofiteer
← FULTON GARDENS II CORPORATION

Form 990 for tax year 2024

Filed by FULTON GARDENS II CORPORATION.

Totals

Total revenue
$306,407
Total expenses
$409,548
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$305,943
Investment income
$464
Other revenue
$0
Total assets, end of year
$5,701,278
Total liabilities, end of year
$54,546
Net assets or fund balances, end of year
$5,646,732
Program services expenses (Part IX)
$375,339
Management and general expenses
$34,209
Fundraising expenses
$0
Program service expenses (Part III)
$375,339

Program services were 91.6% 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: HUD RENT SUPPLEMENT

    total $201,375 · related or exempt $201,375

  • 2b · Program service revenue: RENTAL INCOME - TENANT

    total $119,943 · related or exempt $119,943

  • 2c · Program service revenue: LAUNDRY, DAMAGES & OTH

    total $334 · related or exempt $334

  • 2d · Program service revenue: VACANCIES

    total -$15,709 · related or exempt -$15,709

  • 3 · Investment income

    total $464 · excluded $464

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $31,720 · program services $31,720

  • 9 · Other employee benefits

    total $8,615 · program services $8,615

  • 10 · Payroll taxes

    total $3,519 · program services $3,519

  • 11a · Fees: management

    total $18,524 · management and general $18,524

  • 11c · Fees: accounting

    total $15,685 · management and general $15,685

  • 13 · Office expenses

    total $4,694 · program services $4,694

  • 14 · Information technology

    total $3,294 · program services $3,294

  • 16 · Occupancy

    total $71,698 · program services $71,698

  • 19 · Conferences, conventions and meetings

    total $2,598 · program services $2,598

  • 22 · Depreciation, depletion and amortization

    total $153,073 · program services $153,073

  • 23 · Insurance

    total $81,942 · program services $81,942

  • 24a · Other expenses: RENT FREE UNIT

    total $5,952 · program services $5,952

  • 24b · Other expenses: UNIFORMS

    total $5,315 · program services $5,315

  • 24c · Other expenses: BANK FEES

    total $1,662 · program services $1,662

  • 24d · Other expenses: SOCIAL SERVICES

    total $912 · program services $912

  • 24e · All other expenses

    total $345 · program services $345

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,804 · end of year $9,200

  • 4 · Accounts receivable

    beginning of year $29,139 · end of year $16,143

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

    $6,682,445

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

    $1,090,726

  • 10c · Land, buildings and equipment, net

    beginning of year $5,744,792 · end of year $5,591,719

  • 15 · Other assets

    beginning of year $59,958 · end of year $84,216

  • 17 · Accounts payable and accrued expenses

    beginning of year $49,192 · end of year $19,246

  • 19 · Deferred revenue

    beginning of year $1,542 · end of year $1,942

  • 25 · Other liabilities

    beginning of year $36,693 · end of year $33,358

  • 27 · Net assets without donor restrictions

    beginning of year $114,986 · end of year $11,452

  • 28 · Net assets with donor restrictions

    beginning of year $5,635,280 · end of year $5,635,280

Mission and programs · 2024

Mission

TO OPERATE AN AFFORDABLE HOUSING PROJECT IN THE NEAR NORTHSIDE COMMUNITY OF HOUSTON, TEXAS WITH ASSISTANCE FROM THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.

Activities or mission (Part I)

TO OPERATE AN AFFORDABLE HOUSING PROJECT FOR ELDERLY PERSONS AND INDIVIDUALS AND HOUSEHOLD WITH LOW AND VERY LOW INCOMES IN HARRIS COUNTY, TEXAS.

  • OPERATION OF A HOUSING FACILITY FOR THE ELDERLY IN HOUSTON, TEXAS. THE PROJECT CONSISTS OF A 39 UNIT APARTMENT COMPLEX REGULATED BY HUD UNDER SECTION 202 OF THE NATIONAL HOUSING ACT.

    Expenses $375,339 · Revenue $305,943

As filed on the 2024 return.

Listed in Part VII

  • Mary Lawler

    PRESIDENT

    Total calculated
    $173,180
    From this org
    $0
    From related orgs
    $160,000
    Other
    $13,180
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $160,000 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $13,180 related
    Filer's total
    $0 + $173,180 related

  • Donna Espada

    TREASURER

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Stephen Bryant

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Cassandra Silvernail

    TRUSTEE/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Janis Brackett

    TRUSTEE/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Viola Solomon

    TRUSTEE/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Alexandra M Clements

    TRUSTEE/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • Michael Tate Barkley

    TRUSTEE/DIRECTOR

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 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.

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
2024
Filed
21 April 2025
IRS schema version
2024v5.1
Source object
202541129349300939

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