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← RESIDENCES AT EATON SENIOR COMMUNITIES

Form 990 for tax year 2022

Filed by RESIDENCES AT EATON SENIOR COMMUNITIES.

Totals

Total revenue
$5,992,010
Total expenses
$5,004,846
Contributions and grants received
$538,052
Grants paid
$20,370
Program service revenue
$5,392,553
Investment income
$5,891
Other revenue
$55,514
Total assets, end of year
$15,356,670
Total liabilities, end of year
$16,644,427
Net assets or fund balances, end of year
-$1,287,757
Program services expenses (Part IX)
$3,948,554
Management and general expenses
$969,682
Fundraising expenses
$86,610
Program service expenses (Part III)
$3,948,554

Program services were 78.9% 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.

  • 1d · Related organizations

    $79,649

  • 1e · Government grants (contributions)

    $440,403

  • 1f · All other contributions, gifts and grants

    $18,000

  • 2a · Program service revenue: APARTMENT RENTALS

    total $4,783,081 · related or exempt $4,783,081

  • 2b · Program service revenue: CAFETERIA INCOME

    total $535,576 · related or exempt $535,576

  • 2c · Program service revenue: TELEPHONE FEES

    total $52,654 · related or exempt $52,654

  • 2d · Program service revenue: HOUSEKEEPING INCOME

    total $12,920 · related or exempt $12,920

  • 2e · Program service revenue: WELLNESS INCOME

    total $8,322 · related or exempt $8,322

  • 3 · Investment income

    total $55,140 · excluded $55,140

  • 7b · Less cost or other basis and sales expenses

    other assets $49,249

  • 7c · Gain or loss

    other assets -$49,249

  • 7d · Net gain or loss

    total -$49,249 · excluded -$49,249

  • 11a · Other revenue: LAUNDRY INCOME

    total $15,738 · excluded $15,738

  • 11d · All other revenue

    total $39,776 · excluded $39,776

  • 11e · Other revenue, total

    $55,514

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,370 · program services $20,370

  • 7 · Other salaries and wages

    total $1,305,744 · program services $1,024,535 · management and general $225,337 · fundraising $55,872

  • 9 · Other employee benefits

    total $189,515 · program services $151,421 · management and general $30,525 · fundraising $7,569

  • 10 · Payroll taxes

    total $91,727 · program services $70,377 · management and general $17,108 · fundraising $4,242

  • 11b · Fees: legal

    total $7,490 · management and general $7,490

  • 11c · Fees: accounting

    total $52,300 · management and general $52,300

  • 11g · Fees: other

    total $264,668 · program services $258,386 · management and general $6,282

  • 12 · Advertising and promotion

    total $14,711 · program services $14,711

  • 13 · Office expenses

    total $12,149 · program services $5,636 · management and general $6,513

  • 14 · Information technology

    total $1,469 · program services $1,394 · management and general $75

  • 16 · Occupancy

    total $472,966 · program services $449,736 · management and general $20,907 · fundraising $2,323

  • 17 · Travel

    total $8,453 · program services $3,124 · management and general $5,329

  • 19 · Conferences, conventions and meetings

    total $1,975 · management and general $1,975

  • 20 · Interest

    total $732,318 · program services $656,327 · management and general $68,392 · fundraising $7,599

  • 22 · Depreciation, depletion and amortization

    total $739,106 · program services $667,575 · management and general $64,378 · fundraising $7,153

  • 23 · Insurance

    total $185,188 · program services $166,669 · management and general $16,667 · fundraising $1,852

  • 24a · Other expenses: MANAGEMENT FEES

    total $423,487 · management and general $423,487

  • 24b · Other expenses: FOOD AND SUPPLIES

    total $376,917 · program services $366,258 · management and general $10,659

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $80,137 · program services $74,685 · management and general $5,452

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $8,292 · program services $3,599 · management and general $4,693

  • 24e · All other expenses

    total $15,864 · program services $13,751 · management and general $2,113

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,268 · end of year $1,341

  • 2 · Savings and temporary cash investments

    beginning of year $2,280,872 · end of year $2,134,989

  • 4 · Accounts receivable

    beginning of year $214,226 · end of year $352,135

  • 8 · Inventories for sale or use

    beginning of year $77,339 · end of year $70,326

  • 9 · Prepaid expenses and deferred charges

    beginning of year $52,040 · end of year $67,619

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

    $22,938,004

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

    $11,657,650

  • 10c · Land, buildings and equipment, net

    beginning of year $11,154,297 · end of year $11,280,354

  • 12 · Investments: other securities

    end of year $1,028,401

  • 14 · Intangible assets

    beginning of year $235,090 · end of year $211,288

  • 15 · Other assets

    beginning of year $133,204 · end of year $210,217

  • 17 · Accounts payable and accrued expenses

    beginning of year $295,437 · end of year $418,690

  • 19 · Deferred revenue

    end of year $14,853

  • 20 · Tax-exempt bond liabilities

    beginning of year $16,000,000 · end of year $0

  • 23 · Secured mortgages and notes payable

    end of year $16,000,000

  • 25 · Other liabilities

    beginning of year $133,204 · end of year $210,884

  • 27 · Net assets without donor restrictions

    beginning of year -$2,280,305 · end of year -$1,287,757

Mission and programs · 2022

Mission

TO PROVIDE HOUSING SERVICES FOR LOW TO MODERATE INCOME SENIORS.

  • PROGRAM PROVIDES 162 APARTMENTS FOR OCCUPANCY TO ELDERLY INDIVIDUALS WHO QUALIFY FOR FEDERAL ASSISTED LOW INCOME SECTION 8 HOUSING.

    Expenses $3,948,554 · Grants $20,370 · Revenue $5,392,553

As filed on the 2022 return.

Listed in Part VII

  • Dan Kullas

    CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Jennifer Vagher

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    4

  • Richard Wyse

    SEC/TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Sandy Bowlin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Ben Bryan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Martin Herz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Joey Kellum

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Martina Kuhar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Jessica Nichols

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Diana Delgado

    PRESIDENT/CEO

    Total calculated
    $187,356
    From this org
    $0
    From related orgs
    $177,855
    Other
    $9,501
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $177,855 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $9,501 related
    Filer's total
    $0 + $187,356 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 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

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
30 April 2024
IRS schema version
2022v5.0
Source object
202431229349302388

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