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Nonprofiteer
← VENABLE APARTMENTS II INC

Form 990 for tax year 2022

Filed by VENABLE APARTMENTS II INC.

Totals

Total revenue
$769,575
Total expenses
$878,954
Contributions and grants received
$491,951
Grants paid
$0
Program service revenue
$266,335
Investment income
$79
Other revenue
$11,210
Total assets, end of year
$3,961,948
Total liabilities, end of year
$6,535,728
Net assets or fund balances, end of year
-$2,573,780
Program services expenses (Part IX)
$644,789
Management and general expenses
$234,165
Fundraising expenses
$0
Program service expenses (Part III)
$644,789

Program services were 73.4% 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)

    $491,951

  • 2a · Program service revenue: RENTAL INCOME

    total $266,335 · related or exempt $266,335

  • 3 · Investment income

    total $79 · excluded $79

  • 11a · Other revenue: OTHER TENANT CHARGES

    total $5,955 · excluded $5,955

  • 11b · Other revenue: LAUNDRY & VENDING

    total $5,255 · excluded $5,255

  • 11e · Other revenue, total

    $11,210

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $57,091 · management and general $57,091

  • 11b · Fees: legal

    total $3,065 · management and general $3,065

  • 11c · Fees: accounting

    total $20,003 · management and general $20,003

  • 11g · Fees: other

    total $84,465 · program services $82,590 · management and general $1,875

  • 12 · Advertising and promotion

    total $1,560 · management and general $1,560

  • 13 · Office expenses

    total $14,690 · program services $2,088 · management and general $12,602

  • 14 · Information technology

    total $7,539 · management and general $7,539

  • 16 · Occupancy

    total $194,751 · program services $194,751

  • 17 · Travel

    total $992 · management and general $992

  • 19 · Conferences, conventions and meetings

    total $2,151 · management and general $2,151

  • 20 · Interest

    total $607 · program services $607

  • 22 · Depreciation, depletion and amortization

    total $156,720 · program services $156,720

  • 24a · Other expenses: ALLOCATED COMPENSATION

    total $225,614 · program services $106,269 · management and general $119,345

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $101,764 · program services $101,764

  • 24c · Other expenses: BAD DEBTS

    total $7,225 · management and general $7,225

  • 24d · Other expenses: RESIDENT SOCIAL ACTIVIT

    total $717 · management and general $717

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,370 · end of year $43,936

  • 2 · Savings and temporary cash investments

    beginning of year $210,371 · end of year $163,564

  • 4 · Accounts receivable

    beginning of year $2,311 · end of year $1,580

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,947 · end of year $39,823

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

    $6,480,681

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

    $2,807,175

  • 10c · Land, buildings and equipment, net

    beginning of year $3,830,226 · end of year $3,673,506

  • 15 · Other assets

    beginning of year $38,734 · end of year $39,539

  • 17 · Accounts payable and accrued expenses

    beginning of year $194,282 · end of year $175,753

  • 19 · Deferred revenue

    beginning of year $2,391 · end of year $525

  • 21 · Escrow or custodial account liability

    beginning of year $29,087 · end of year $29,850

  • 23 · Secured mortgages and notes payable

    beginning of year $6,329,600 · end of year $6,329,600

  • 27 · Net assets without donor restrictions

    beginning of year -$2,464,401 · end of year -$2,573,780

Mission and programs · 2022

Mission

TO PROVIDE AFFORDABLE HOUSING TO THE ELDERLY UNDER SECTION 202 OF THE NATIONAL HOUSING ACT.

  • VENABLE APARTMENTS II, INC. IS A MARYLAND CORPORATION ORGANIZED IN MARCH 2004 FOR THE PURPOSE OF CONSTRUCTING AND OPERATING HOUSING AND RELATED FACILITIES FOR THE ELDERLY, WHICH CONSISTS OF 73 UNITS. THE ENTITY WAS FINANCED THROUGH THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD") UNDER SECTION 202 OF THE NATIONAL AFFORDABLE HOUSING ACT. SUCH ENTITIES ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS.

    Expenses $644,789 · Revenue $266,335

As filed on the 2022 return.

Listed in Part VII

  • JAY WEINER

    CHAIR

    Total calculated
    $0
    Hours/week
    0.3 + 2 related

  • CHRIS MCCULLOUGH

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.3 + 2 related

  • STEPHANIE SHACK

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.3 + 2 related

  • ZINNAEAH JOHNSON

    VICE PRESIDENT (THRU 10/2022)

    Total calculated
    $0
    Hours/week
    0.3 + 2 related

  • NICHOLE BATTLE

    SECRETARY

    Total calculated
    $153,913
    From this org
    $0
    From related orgs
    $142,834
    Other
    $11,079
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $142,834 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $11,079 related
    Filer's total
    $0 + $153,913 related

  • NICHOLAS ALEXOPOLUS

    TREASURER

    Total calculated
    $0
    Hours/week
    0.3 + 2 related

  • MICHAEL MAXWELL

    TREASURER (THRU 03/23)

    Total calculated
    $0
    Hours/week
    0.3 + 2 related

  • MIKE BEST

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 2 related

  • MARK HEWICK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 2 related

  • JEFF SEIBERT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.3 + 2 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

The filer's explanations (Part III)

PART I, LINE 5
A RELATED PARTY, GOVANS ECUMENICAL DEVELOPMENT CORPORATION, COMPENSATES EMPLOYEES LISTED IN PART VII AND SCHEDULE J. THE FOLLOW IS THEIR POLICY FOR DETERMINING COMPENSATION. THE EXECUTIVE COMMITTEE PREPARES AN EVALUATION AND RECOMMENDATION, THEN THE BOARD OF DIRECTORS EVALUATES AND APPROVES THE DECISION.

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.

  • GOVANS ECUMENICAL DEVELOPMENT CORPORATION

    501(C)(3) · DEVELOP AFFORDABLE HOUSING WITH SUPPORTIVE SERVICES · MD

  • ASCENSION HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING FOR INDIVIDUALS WITH MENTAL ILLNESS · MD

    Directly controlled by GOVANS ECUMENICAL DEVELOPMENT CORP

  • VENABLE APARTMENTS I INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING AND SUPPORTIVE SERVICES FOR SENIOR CITIZENS · MD

    Directly controlled by GOVANS ECUMENICAL DEVELOPMENT CORP

  • GALLAGHER MANSION INC

    501(C)(3) · PROVIDE AFFORDABLE HOUSING AND SUPPORTIVE SERVICES FOR SENIOR CITIZENS · MD

    Directly controlled by GOVANS ECUMENICAL DEVELOPMENT CORP

  • STADIUM PLACE INC

    501(C)(3) · DEVELOP AN AFFORDABLE RETIREMENT COMMUNITY FOR SENIOR CITIZENS · MD

    Directly controlled by GOVANS ECUMENICAL DEVELOPMENT CORP

  • WINDEMERE LONG TERM CARE LLC

    501(C)(3) · PROVIDE AFFORDABLE LONG TERM CARE TO LOW INCOME SENIOR CITIZENS · MD

    Directly controlled by GOVANS ECUMENICAL DEVELOPMENT CORP

  • GEDCO HOMES INC

    501(C)(3) · PROVIDE AFFORDABLE HOME OWNERSHIP OPPORTUNITIES TO THE ELDERLY · MD

    Directly controlled by GOVANS ECUMENICAL DEVELOPMENT CORP

  • GOVANS CENTER FOR RETIRED PERSONS INC

    501(C)(3) · TO PROVIDE VARIOUS SUPPORTIVE SERVICES FOR OLDER ADULTS · MD

    Directly controlled by STADIUM PLACE INC

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2022
Filed
15 March 2024
IRS schema version
2022v5.0
Source object
202400759349301765

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