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Nonprofiteer
← ASSOCIATE REFORMED PRESBYTERIAN HOME

Form 990 for tax year 2023

Filed by ASSOCIATE REFORMED PRESBYTERIAN HOME.

Totals

Total revenue
$1,041,667
Total expenses
$907,007
Contributions and grants received
$742,703
Grants paid
$0
Program service revenue
$385,867
Investment income
-$86,903
Other revenue
$0
Total assets, end of year
$3,497,971
Total liabilities, end of year
$4,838,168
Net assets or fund balances, end of year
-$1,340,197
Program services expenses (Part IX)
$888,881
Management and general expenses
$18,126
Fundraising expenses
$0
Program service expenses (Part III)
$888,881

Program services were 98.0% 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.

  • 1e · Government grants (contributions)

    $742,703

  • 2a · Program service revenue: TENANT RENTAL PAYMENTS

    total $379,372 · related or exempt $379,372

  • 2b · Program service revenue: LAUNDRY AND VENDING

    total $3,855 · related or exempt $3,855

  • 2c · Program service revenue: CABLE TV REVENUE

    total $1,718 · related or exempt $1,718

  • 2d · Program service revenue: TENANT CHARGES

    total $922 · related or exempt $922

  • 3 · Investment income

    total $916 · excluded $916

  • 7b · Less cost or other basis and sales expenses

    other assets $87,819

  • 7c · Gain or loss

    other assets -$87,819

  • 7d · Net gain or loss

    total -$87,819 · excluded -$87,819

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $91,021 · program services $91,021

  • 11b · Fees: legal

    total $812 · program services $812

  • 11c · Fees: accounting

    total $6,720 · management and general $6,720

  • 12 · Advertising and promotion

    total $491 · program services $491

  • 13 · Office expenses

    total $41,913 · program services $41,913

  • 16 · Occupancy

    total $89,736 · program services $89,736

  • 19 · Conferences, conventions and meetings

    total $3,466 · program services $3,466

  • 20 · Interest

    total $111,585 · program services $111,585

  • 22 · Depreciation, depletion and amortization

    total $55,966 · program services $55,966

  • 23 · Insurance

    total $67,380 · program services $67,380

  • 24a · Other expenses: CONTRACTS

    total $172,222 · program services $172,222

  • 24b · Other expenses: SUPPLIES

    total $46,497 · program services $46,497

  • 24c · Other expenses: PAYROLL REIMBURSEMENT

    total $45,988 · program services $45,988

  • 24d · Other expenses: OFFICE SALARY REIMBURSE

    total $42,724 · program services $42,724

  • 24e · All other expenses

    total $130,486 · program services $119,080 · management and general $11,406

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $188,164 · end of year $102,214

  • 2 · Savings and temporary cash investments

    beginning of year $1,522,474 · end of year $1,503,460

  • 4 · Accounts receivable

    beginning of year $16,657 · end of year $7,716

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,130 · end of year $25,299

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

    $4,396,844

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

    $2,747,688

  • 10c · Land, buildings and equipment, net

    beginning of year $553,078 · end of year $1,649,156

  • 14 · Intangible assets

    beginning of year $181,017 · end of year $175,178

  • 15 · Other assets

    beginning of year $907,347 · end of year $34,948

  • 17 · Accounts payable and accrued expenses

    beginning of year $43,283 · end of year $125,038

  • 19 · Deferred revenue

    beginning of year $1,238 · end of year $644

  • 23 · Secured mortgages and notes payable

    beginning of year $4,789,832 · end of year $4,681,199

  • 25 · Other liabilities

    beginning of year $30,371 · end of year $31,287

  • 27 · Net assets without donor restrictions

    beginning of year -$1,474,857 · end of year -$1,340,197

Mission and programs · 2023

Mission

TO PROVIDE LOW INCOME HOUSING FOR THE ELDERLY IN GASTONIA, NC.

Activities or mission (Part I)

TO PROVIDE HOUSING FOR LOW INCOME AND ELDERLY INDIVIDUALS.

  • OPERATE A 100 UNIT HOUSING PROJECT FOR THE ELDERLY IN GASTONIA, NC.

    Expenses $888,881 · Revenue $385,867

As filed on the 2023 return.

Listed in Part VII

  • Craig Peatross

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Mallory Oates

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • Garry Merritt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Tammy Vernon

    TREASURER

    Total calculated
    $120,248
    From this org
    $0
    From related orgs
    $120,248
    Other
    $0
    Hours/week
    0.2 + 40 related

  • John Nichols

    ASST VP/ASST SECRETARY

    Total calculated
    $21,684
    From this org
    $0
    From related orgs
    $21,684
    Other
    $0
    Hours/week
    0.2 + 40 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.

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
4 November 2024
IRS schema version
2023v5.1
Source object
202443119349300004

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