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Nonprofiteer
← SOUTHEAST AFFORDABLE PRESERVATION INC

Form 990 for tax year 2023

Filed by SOUTHEAST AFFORDABLE PRESERVATION INC.

Totals

Total revenue
$98,218
Total expenses
$123,278
Contributions and grants received
$36,315
Grants paid
$0
Program service revenue
$61,539
Investment income
$364
Other revenue
$0
Total assets, end of year
$1,820,168
Total liabilities, end of year
$3,675
Net assets or fund balances, end of year
$1,816,493
Program services expenses (Part IX)
$998
Management and general expenses
$122,280
Fundraising expenses
$0
Program service expenses (Part III)
$998

Program services were 0.8% 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.

  • 1f · All other contributions, gifts and grants

    $36,315

  • 2a · Program service revenue: OTHER INVESTMENT INCOM

    total $61,547 · related or exempt $61,547

  • 2b · Program service revenue: LOSSES FROM INVESTMENT

    total -$8 · related or exempt -$8

  • 3 · Investment income

    total $364 · excluded $364

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $15,065 · management and general $15,065

  • 13 · Office expenses

    total $12,200 · management and general $12,200

  • 24a · Other expenses: MISCELLANEOUS EXPENSE

    total $95,000 · management and general $95,000

  • 24b · Other expenses: TAXES, LICENSES, AND FE

    total $998 · program services $998

  • 24c · Other expenses: ADMINISTRATIVE

    total $15 · management and general $15

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $93,581 · end of year $22,217

  • 13 · Investments: program-related

    beginning of year -$2,028 · end of year -$2,049

  • 15 · Other assets

    beginning of year $1,750,000 · end of year $1,800,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $3,675

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,841,553 · end of year $1,816,493

Mission and programs · 2023

Mission

OUR MISSION IS TO CREATE SAFE, COMFORTABLE, HIGH-QUALITY HOMES THAT UPLIFT THE LIVES OF OUR RESIDENTS AND ENHANCE THE SURROUNDING NEIGHBORHOODS. WE FOCUS ON THE FINANCIAL AND ENVIRONMENTAL SUSTAINABILITY OF EACH OF OUR RESIDENTIAL COMMUNITIES, ALLOWING US TO BUILD COMFORTABLE, AFFORDABLE HOMES FOR THOSE WHO NEED IT MOST.

  • HOUSING - PROVIDED 312 UNITS OF SAFE AND AFFORDABLE HOUSING FOR LOW INCOME SENIOR CITIZENS.

    Expenses $998 · Revenue $61,539

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

Listed in Part VII

  • DARRIN WILLARD

    PRESIDENT

    Total calculated
    $903,377
    From this org
    $0
    From related orgs
    $828,313
    Other
    $75,064
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $715,223 related
    Bonus
    $0 + $84,777 related
    Other
    $0 + $28,313 related
    Deferred
    $0 + $43,500 related
    Nontaxable benefits
    $0 + $31,564 related
    Filer's total
    $0 + $903,377 related

  • SHIGE ITOH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • MICHAEL BROWN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • TIM HOSE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 5 related

  • TARUN CHANDRAN

    VICE PRESIDENT AND SECRETARY (NOT A DIRECTOR)

    Total calculated
    $660,918
    From this org
    $0
    From related orgs
    $607,540
    Other
    $53,378
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $604,892 related
    Bonus
    $0
    Other
    $0 + $2,648 related
    Deferred
    $0 + $21,998 related
    Nontaxable benefits
    $0 + $31,380 related
    Filer's total
    $0 + $660,918 related

  • MELISSA VINCENT

    VICE PRESIDENT AND TREASURER (NOT A DIRECTOR)

    Total calculated
    $462,110
    From this org
    $0
    From related orgs
    $411,931
    Other
    $50,179
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $389,597 related
    Bonus
    $0 + $19,892 related
    Other
    $0 + $2,442 related
    Deferred
    $0 + $18,087 related
    Nontaxable benefits
    $0 + $32,092 related
    Filer's total
    $0 + $462,110 related

  • MEI LUU

    VICE PRESIDENT AND ASSISTANT SECRETARY (NOT A DIRE

    Total calculated
    $252,253
    From this org
    $0
    From related orgs
    $211,237
    Other
    $41,016
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $211,110 related
    Bonus
    $0
    Other
    $0 + $127 related
    Deferred
    $0 + $10,506 related
    Nontaxable benefits
    $0 + $30,510 related
    Filer's total
    $0 + $252,253 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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SAP FELLOWSHIP MANOR LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · OR

    Directly controlled by SOUTHEAST AFFORDABLE PRESERVATION INC

  • SAP GOLDEN LINK MANOR LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · OR

    Directly controlled by SOUTHEAST AFFORDABLE PRESERVATION INC

  • SAP IOOF TOWER LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · OR

    Directly controlled by SOUTHEAST AFFORDABLE PRESERVATION INC

Related partnerships

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

Provenance

Return type
form_990
Tax year
2023
Filed
30 October 2024
IRS schema version
2023v5.1
Source object
202423049349302412

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