Skip to content
Nonprofiteer
← MILESTONE APARTMENTS INC

Form 990 for tax year 2022

Filed by MILESTONE APARTMENTS INC.

Totals

Total revenue
$134,298
Total expenses
$152,962
Contributions and grants received
$76,746
Grants paid
$0
Program service revenue
$17,792
Investment income
$1,808
Other revenue
$37,952
Total assets, end of year
$1,652,787
Total liabilities, end of year
$1,656,338
Net assets or fund balances, end of year
-$3,551
Program services expenses (Part IX)
$124,899
Management and general expenses
$28,063
Fundraising expenses
$0
Program service expenses (Part III)
$124,899

Program services were 81.7% 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)

    $76,746

  • 2a · Program service revenue: RENTAL INCOME

    total $17,792 · related or exempt $17,792

  • 3 · Investment income

    total $1,808 · excluded $1,808

  • 11a · Other revenue: FORGIVENESS OF DEVELOP

    total $37,952 · excluded $37,952

  • 11e · Other revenue, total

    $37,952

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $2,736 · program services $2,736

  • 11a · Fees: management

    total $4,640 · management and general $4,640

  • 11b · Fees: legal

    total $893 · management and general $893

  • 11c · Fees: accounting

    total $10,500 · management and general $10,500

  • 12 · Advertising and promotion

    total $33 · management and general $33

  • 13 · Office expenses

    total $4,903 · management and general $4,903

  • 16 · Occupancy

    total $38,457 · program services $38,457

  • 20 · Interest

    total $676 · program services $676

  • 22 · Depreciation, depletion and amortization

    total $50,041 · program services $50,041

  • 23 · Insurance

    total $19,351 · program services $19,351

  • 24a · Other expenses: OTHER EXPENSES - ORGANI

    total $13,638 · program services $13,638

  • 24b · Other expenses: BAD DEBTS

    total $5,184 · management and general $5,184

  • 24c · Other expenses: SOFTWARE FEES

    total $1,910 · management and general $1,910

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $25,286 · end of year $10,526

  • 2 · Savings and temporary cash investments

    beginning of year $8,144 · end of year $52,004

  • 4 · Accounts receivable

    beginning of year $10 · end of year $2,048

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,270 · end of year $1,625

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

    $1,636,625

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

    $50,041

  • 10c · Land, buildings and equipment, net

    beginning of year $3,742 · end of year $1,586,584

  • 15 · Other assets

    beginning of year $320 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,027 · end of year $20,295

  • 19 · Deferred revenue

    end of year $14

  • 24 · Unsecured notes and loans payable

    end of year $1,635,212

  • 25 · Other liabilities

    beginning of year $2,346 · end of year $817

  • 27 · Net assets without donor restrictions

    beginning of year $33,399 · end of year -$3,551

Mission and programs · 2022

Mission

PROVIDE PERMANENT HOUSING TO LOW INCOME ADULTS AND FAMILIES WITH DISABILITIES. APARTMENTS HAVE SUBSIDIES; TENANTS MAY BE LINKED TO SERVICES THEY NEED TO RETAIN THEIR HOUSING AND REALIZE THEIR FULLEST POTENTIAL.

Activities or mission (Part I)

PROVIDE PERMANENT HOUSING TO LOW-INCOME ADULTS AND FAMILIES WITH DISABILITIES. APARTMENTS HAVE SUBSIDIES; TENANTS MAY BE LINKED TO SERVICES THEY NEED TO RETAIN THEIR HOUSING AND REALIZE THEIR FULLEST POTENTIAL.

  • PROVIDE PERMANENT HOUSING TO LOW-INCOME ADULTS AND FAMILIES WITH DISABILITIES. APARTMENTS HAVE SUBSIDIES; TENANTS MAY BE LINKED TO SERVICES THEY NEED TO RETAIN THEIR HOUSING AND REALIZE THEIR FULLEST POTENTIAL.

    Expenses $124,899 · Revenue $17,792

As filed on the 2022 return.

Listed in Part VII

  • Patricia Fischer

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jim Ingram

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Tom Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stacey Overturf

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Deniece Shivers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Janette Heath

    SECRETARY

    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.

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
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349303660

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.