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Nonprofiteer
← RICHARDVILLE APARTMENTS INC

Form 990 for tax year 2023

Filed by RICHARDVILLE APARTMENTS INC.

Totals

Total revenue
$99,724
Total expenses
$133,176
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$98,411
Investment income
$13
Other revenue
$1,300
Total assets, end of year
$671,214
Total liabilities, end of year
$1,017,570
Net assets or fund balances, end of year
-$346,356
Program services expenses (Part IX)
$97,958
Management and general expenses
$35,218
Fundraising expenses
$0
Program service expenses (Part III)
$97,958

Program services were 73.6% 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.

  • 2a · Program service revenue: RENTAL RECEIPTS

    total $53,669 · related or exempt $53,669

  • 2b · Program service revenue: TENANT ASSISTANCE PAYM

    total $44,742 · related or exempt $44,742

  • 3 · Investment income

    total $13 · excluded $13

  • 11a · Other revenue: LAUNDRY AND VENDING IN

    total $940 · related or exempt $940

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $360 · related or exempt $360

  • 11e · Other revenue, total

    $1,300

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $12,406 · program services $12,406

  • 9 · Other employee benefits

    total $161 · program services $161

  • 10 · Payroll taxes

    total $1,026 · program services $1,026

  • 11a · Fees: management

    total $13,115 · management and general $13,115

  • 11b · Fees: legal

    total $97 · management and general $97

  • 11c · Fees: accounting

    total $9,809 · management and general $9,809

  • 16 · Occupancy

    total $54,704 · program services $54,704

  • 22 · Depreciation, depletion and amortization

    total $23,301 · program services $23,301

  • 23 · Insurance

    total $5,024 · program services $5,024

  • 24a · Other expenses: ADMINISTRATIVE EXPENSES

    total $12,197 · management and general $12,197

  • 24b · Other expenses: SUPPLIES

    total $1,336 · program services $1,336

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $397 · end of year $1,211

  • 4 · Accounts receivable

    beginning of year $5,658 · end of year $12,908

  • 9 · Prepaid expenses and deferred charges

    beginning of year $678 · end of year $678

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

    $990,116

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

    $462,509

  • 10c · Land, buildings and equipment, net

    beginning of year $550,908 · end of year $527,607

  • 15 · Other assets

    beginning of year $129,839 · end of year $128,810

  • 17 · Accounts payable and accrued expenses

    beginning of year $45,671 · end of year $63,362

  • 23 · Secured mortgages and notes payable

    beginning of year $951,900 · end of year $951,900

  • 25 · Other liabilities

    beginning of year $2,813 · end of year $2,308

  • 27 · Net assets without donor restrictions

    beginning of year -$312,904 · end of year -$346,356

Mission and programs · 2023

Mission

PROVIDE HOUSING TO HANDICAPPED INDIVIDUALS

Activities or mission (Part I)

PROVIDE HOUSING TO HANDICAPPED INDIVIDUALS.

  • THE ORGANIZATION PROVIDES AFFORDABLE HOUSING TO HANDICAPPED INDIVIDUALS

    Expenses $97,958 · Revenue $99,711

As filed on the 2023 return.

Listed in Part VII

  • BRET CLAGHORN

    SECRETARY/TREASURER

    Total calculated
    $324,233
    From this org
    $0
    From related orgs
    $261,770
    Other
    $62,463
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $229,678 related
    Bonus
    $0 + $30,283 related
    Other
    $0 + $1,809 related
    Deferred
    $0 + $24,340 related
    Nontaxable benefits
    $0 + $38,123 related
    Filer's total
    $0 + $324,233 related

  • TIM GALL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • BROOKE LOCKHART

    VICE PRESIDENT

    Total calculated
    $149,836
    From this org
    $0
    From related orgs
    $127,743
    Other
    $22,093
    Hours/week
    1 + 40 related

  • THOMAS MINNICH

    PRESIDENT

    Total calculated
    $251,323
    From this org
    $0
    From related orgs
    $206,949
    Other
    $44,374
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $179,504 related
    Bonus
    $0 + $25,307 related
    Other
    $0 + $2,138 related
    Deferred
    $0 + $18,931 related
    Nontaxable benefits
    $0 + $25,443 related
    Filer's total
    $0 + $251,323 related

  • CLARK JONES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • MICHAEL BURCROFF

    DIRECTOR

    Total calculated
    $186,439
    From this org
    $0
    From related orgs
    $135,622
    Other
    $50,817
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $120,588 related
    Bonus
    $0 + $14,264 related
    Other
    $0 + $770 related
    Deferred
    $0 + $15,726 related
    Nontaxable benefits
    $0 + $35,091 related
    Filer's total
    $0 + $186,439 related

  • CONNIE KERRIGAN

    VICE PRESIDENT - PARTIAL YEAR

    Total calculated
    $204,921
    From this org
    $0
    From related orgs
    $179,930
    Other
    $24,991
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $133,534 related
    Bonus
    $0 + $16,541 related
    Other
    $0 + $29,855 related
    Deferred
    $0 + $9,853 related
    Nontaxable benefits
    $0 + $15,138 related
    Filer's total
    $0 + $204,921 related

  • CHARLES CLARK

    DIRECTOR - PARTIAL YEAR

    Total calculated
    $399,950
    From this org
    $0
    From related orgs
    $332,674
    Other
    $67,276
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,008 related
    Bonus
    $0 + $46,427 related
    Other
    $0 + $131,239 related
    Deferred
    $0 + $49,082 related
    Nontaxable benefits
    $0 + $18,194 related
    Filer's total
    $0 + $399,950 related

  • RICHARD HITE

    FORMER OFFICER

    Total calculated
    $140,791
    From this org
    $0
    From related orgs
    $124,576
    Other
    $16,215
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $105,575 related
    Bonus
    $0 + $8,389 related
    Other
    $0 + $10,612 related
    Deferred
    $0 + $13,430 related
    Nontaxable benefits
    $0 + $2,785 related
    Filer's total
    $0 + $140,791 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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 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, LINES 4A-B
SEVERANCE PAYMENTS: CHARLES CLARK $89,140; CONNIE KERRIGAN $8,907 THE FOLLOWING INDIVIDUALS PARTICIPATE IN SUPPLEMENTAL NONQUALIFIED DEFERRED COMPENSATION PLANS. BENEFITS EARNED UNDER THE PLANS WILL FUND THE EMPLOYEES' EVENTUAL RETIREMENT BENEFIT. THESE BENEFITS ARE PROVIDED IN EXCHANGE FOR THE EMPLOYEES' YEARS OF SERVICE TO THE ORGANIZATION AND THE AMOUNT OF THE BENEFITS MAY VARY FROM YEAR TO YEAR. THE FOLLOWING INDIVIDUALS VESTED IN A PORTION OF THEIR DEFERRED COMPENSATION PLANS, WHICH IS TREATED AS TAXABLE INCOME TO THE INDIVIDUALS AT THE TIME OF VESTING. THESE AMOUNTS ARE REPORTED IN SCHEDULE J, PART II, COLUMN (B)(III): CHARLES CLARK $25,537 AMOUNTS LISTED ABOVE THAT HAVE BEEN REPORTED AS DEFERRED COMPENSATION ON PRIOR FORM 990 WILL ALSO BE REFLECTED IN SCHEDULE J, PART II, COLUMN (F). FOR EXAMPLE, THE AMOUNT OF $25,537 REPORTED AS REQUIRED FOR MR. CLARK WAS A RESULT OF THE VESTING OF SUCH AMOUNT UNDER THE TERMS OF THE RESPECTIVE PLANS. HOWEVER, THESE AMOUNTS WERE PREVIOUSLY REPORTED IN MR. CLARK'S DEFERRED COMPENSATION AS THE AMOUNTS WERE DEFERRED UNDER THE PLANS. AS SUCH, THE AMOUNT REPORTED IN SCHEDULE J, PART II, COLUMN (F) IS AN INDICATION OF AMOUNTS THAT HAVE BEEN REPORTED TWICE, ONCE AS A DEFERRAL AND ONCE AS VESTED. THE FOLLOWING INDIVIDUALS HAVE AN AMOUNT INCLUDED IN SCHEDULE J, PART II, COLUMN (C) FOR AN AMOUNT EARNED BUT NOT YET VESTED UNDER ONE OF PARKVIEW'S DEFERRED COMPENSATION PLANS. THE AMOUNTS ARE AT RISK AND WILL NOT BE PAID UNLESS AND UNTIL EACH EMPLOYEE HAS PROVIDED SUBSTANTIAL FUTURE SERVICES TO THE ORGANIZATION. BENEFITS UNDER THE PLANS VEST AT THE TIME SET FORTH IN THE PLAN DOCUMENTS AND ARE FORFEITED IF THE EMPLOYEES TERMINATE EMPLOYMENT BEFORE SATISFYING THOSE PLAN CONDITIONS. DEFERRALS REPORTED IN SCHEDULE J, PART II, COLUMN (C) INCLUDE: CHARLES CLARK $25,537

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.

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
30 January 2025
IRS schema version
2023v6.0
Source object
202540349349300004

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