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← VENABLE APARTMENTS II INC

Form 990 for tax year 2023

Filed by VENABLE APARTMENTS II INC.

Totals

Total revenue
$810,708
Total expenses
$926,105
Contributions and grants received
$491,387
Grants paid
$0
Program service revenue
$312,641
Investment income
$209
Other revenue
$6,471
Total assets, end of year
$3,896,488
Total liabilities, end of year
$6,585,665
Net assets or fund balances, end of year
-$2,689,177
Program services expenses (Part IX)
$679,866
Management and general expenses
$246,239
Fundraising expenses
$0
Program service expenses (Part III)
$679,866

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)

    $491,387

  • 2a · Program service revenue: RENTAL INCOME

    total $312,641 · related or exempt $312,641

  • 3 · Investment income

    total $209 · excluded $209

  • 11a · Other revenue: LAUNDRY & VENDING

    total $6,000 · excluded $6,000

  • 11b · Other revenue: OTHER TENANT CHARGES

    total $271 · excluded $271

  • 11c · Other revenue: REIMBURSEMENTS

    total $200 · excluded $200

  • 11e · Other revenue, total

    $6,471

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $60,971 · management and general $60,971

  • 11b · Fees: legal

    total $3,361 · management and general $3,361

  • 11c · Fees: accounting

    total $21,203 · management and general $21,203

  • 11g · Fees: other

    total $4,880 · management and general $4,880

  • 12 · Advertising and promotion

    total $1,247 · management and general $1,247

  • 13 · Office expenses

    total $15,761 · program services $2,285 · management and general $13,476

  • 14 · Information technology

    total $7,541 · management and general $7,541

  • 16 · Occupancy

    total $209,481 · program services $209,481

  • 17 · Travel

    total $816 · management and general $816

  • 19 · Conferences, conventions and meetings

    total $214 · management and general $214

  • 20 · Interest

    total $1,214 · program services $1,214

  • 22 · Depreciation, depletion and amortization

    total $158,239 · program services $158,239

  • 24a · Other expenses: ALLOCATED COMPENSATION

    total $253,998 · program services $121,731 · management and general $132,267

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $186,916 · program services $186,916

  • 24c · Other expenses: RESIDENT SOCIAL ACTIVIT

    total $263 · management and general $263

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $43,936 · end of year $126,346

  • 2 · Savings and temporary cash investments

    beginning of year $163,564 · end of year $139,495

  • 4 · Accounts receivable

    beginning of year $1,580 · end of year $429

  • 9 · Prepaid expenses and deferred charges

    beginning of year $39,823 · end of year $49,677

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

    $6,503,462

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

    $2,965,414

  • 10c · Land, buildings and equipment, net

    beginning of year $3,673,506 · end of year $3,538,048

  • 15 · Other assets

    beginning of year $39,539 · end of year $42,493

  • 17 · Accounts payable and accrued expenses

    beginning of year $175,753 · end of year $221,008

  • 19 · Deferred revenue

    beginning of year $525 · end of year $2,212

  • 21 · Escrow or custodial account liability

    beginning of year $29,850 · end of year $32,845

  • 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 -$2,573,780 · end of year -$2,689,177

Mission and programs · 2023

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 $679,866 · Revenue $312,641

As filed on the 2023 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

  • NICHOLE BATTLE

    SECRETARY

    Total calculated
    $142,406
    From this org
    $0
    From related orgs
    $131,044
    Other
    $11,362
    Hours/week
    5 + 35 related

  • NICHOLAS ALEXOPOLUS

    TREASURER

    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.

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
2023
Filed
18 March 2025
IRS schema version
2023v6.0
Source object
202510779349300906

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