Skip to content
Nonprofiteer
← HIGHWOOD APARTMENTS INC

Form 990 for tax year 2023

Filed by HIGHWOOD APARTMENTS INC.

Totals

Total revenue
$423,803
Total expenses
$378,994
Contributions and grants received
$248,376
Grants paid
$0
Program service revenue
$139,745
Investment income
$863
Other revenue
$34,819
Total assets, end of year
$472,161
Total liabilities, end of year
$1,271,759
Net assets or fund balances, end of year
-$799,598
Program services expenses (Part IX)
$314,038
Management and general expenses
$64,956
Fundraising expenses
$0
Program service expenses (Part III)
$314,038

Program services were 82.9% 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)

    $248,376

  • 2a · Program service revenue: RENTAL INCOME

    total $139,745 · related or exempt $139,745

  • 3 · Investment income

    total $863 · excluded $863

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $32,614 · excluded $32,614

  • 11b · Other revenue: LAUNDRY & VENDING

    total $1,574 · excluded $1,574

  • 11c · Other revenue: TENANT CHARGES

    total $631 · excluded $631

  • 11e · Other revenue, total

    $34,819

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $29,228 · management and general $29,228

  • 11b · Fees: legal

    total $2,971 · program services $2,971

  • 11c · Fees: accounting

    total $4,500 · management and general $4,500

  • 11g · Fees: other

    total $3,325 · program services $3,325

  • 13 · Office expenses

    total $8,938 · program services $8,938

  • 16 · Occupancy

    total $238,290 · program services $238,290

  • 17 · Travel

    total $2,540 · management and general $2,540

  • 19 · Conferences, conventions and meetings

    total $1,433 · management and general $1,433

  • 22 · Depreciation, depletion and amortization

    total $21,771 · program services $21,771

  • 24a · Other expenses: MANAGEMENT COMPANY EMPL

    total $43,523 · program services $20,471 · management and general $23,052

  • 24b · Other expenses: UTILITIES

    total $11,242 · program services $11,242

  • 24c · Other expenses: SERVICE COORDINATOR EXP

    total $7,030 · program services $7,030

  • 24d · Other expenses: MISCELLANEOUS ADMIN.

    total $4,118 · management and general $4,118

  • 24e · All other expenses

    total $85 · management and general $85

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $39,907 · end of year $3,239

  • 4 · Accounts receivable

    beginning of year $3,270 · end of year $11,245

  • 9 · Prepaid expenses and deferred charges

    beginning of year $20,278 · end of year $24,756

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

    $1,850,935

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

    $1,590,730

  • 10c · Land, buildings and equipment, net

    beginning of year $265,342 · end of year $260,205

  • 14 · Intangible assets

    beginning of year $58,828 · end of year $55,593

  • 15 · Other assets

    beginning of year $108,241 · end of year $117,123

  • 17 · Accounts payable and accrued expenses

    beginning of year $42,588 · end of year $16,907

  • 19 · Deferred revenue

    beginning of year $771 · end of year $2,257

  • 23 · Secured mortgages and notes payable

    beginning of year $1,282,322 · end of year $1,237,412

  • 25 · Other liabilities

    beginning of year $14,592 · end of year $15,183

  • 27 · Net assets without donor restrictions

    beginning of year -$844,407 · end of year -$799,598

Mission and programs · 2023

Mission

THE NOT-FOR-PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 44 UNIT APARTMENT COMMUNITY IN COLUMBUS, NORTH CAROLINA KNOWN AS HIGHWOOD APARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORY AGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THE FEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HOUSING ASSISTANCE PAYMENT CONTRACT (HAP CONTRACT) WITH HUD PROVIDES RENT ASSISTANCE FOR LOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT.

  • THE NOT-FOR-PROFIT CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 44UNIT APARTMENT COMMUNITY IN COLUMBUS, NORTH CAROLINA KNOWN AS HIGHWOODAPARTMENTS. IT WAS ORGANIZED PURSUANT TO SECTION 202 OF THE NATIONALHOUSING ACT AS AMENDED AND HAS ENTERED INTO THE STANDARD FHA REGULATORYAGREEMENTS, WHICH GOVERN THE OPERATION OF THE COMMUNITY, WITH THEFEDERAL HOUSING ADMINISTRATION SECTION OF HUD. A HOUSING ASSISTANCEPAYMENT CONTRACT (HAP CONTRACT) WITH HUD PROVIDES RENT ASSISTANCE FORLOW INCOME FAMILIES (OR PERSONS) AS PROVIDED BY THE SECTION 8 PROGRAMOF THE NATIONAL HOUSING ACT.

    Expenses $314,038 · Revenue $139,745

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

Listed in Part VII

  • Robin Elliott

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Kim Karaman

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Lisa Schulenburg

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Kim Wilson

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • John Kornmayer

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Gail Dyer

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • Cathy Brooks

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

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
9 May 2025
IRS schema version
2023v6.0
Source object
202541329349302689

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.