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Nonprofiteer
← GARDEN WAY HOUSING INC

Form 990 for tax year 2022

Filed by GARDEN WAY HOUSING INC.

Totals

Total revenue
$212,910
Total expenses
$313,119
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$212,150
Investment income
$140
Other revenue
$620
Total assets, end of year
$2,333,260
Total liabilities, end of year
$3,406,520
Net assets or fund balances, end of year
-$1,073,260
Program services expenses (Part IX)
$239,957
Management and general expenses
$73,162
Fundraising expenses
$0
Program service expenses (Part III)
$239,957

Program services were 76.6% 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: RENTALS

    total $163,263 · related or exempt $163,263

  • 2b · Program service revenue: TENANT ASSISTANCE RENT

    total $46,185 · related or exempt $46,185

  • 2c · Program service revenue: LAUNDRY & VENDING

    total $4,983 · related or exempt $4,983

  • 2d · Program service revenue: VACANT APARTMENTS

    total -$2,281 · related or exempt -$2,281

  • 3 · Investment income

    total $140 · excluded $140

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $620 · related or exempt $620

  • 11e · Other revenue, total

    $620

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $48,896 · program services $14,273 · management and general $34,623

  • 9 · Other employee benefits

    total $5,802 · program services $5,802

  • 10 · Payroll taxes

    total $3,705 · program services $3,705

  • 11a · Fees: management

    total $20,088 · management and general $20,088

  • 11c · Fees: accounting

    total $7,135 · management and general $7,135

  • 12 · Advertising and promotion

    total $2,738 · management and general $2,738

  • 13 · Office expenses

    total $8,208 · management and general $8,208

  • 19 · Conferences, conventions and meetings

    total $692 · program services $692

  • 22 · Depreciation, depletion and amortization

    total $88,713 · program services $88,713

  • 23 · Insurance

    total $4,571 · program services $4,571

  • 24a · Other expenses: UTILITIES

    total $52,716 · program services $52,716

  • 24b · Other expenses: PROGRAM SUPPLIES

    total $26,809 · program services $26,809

  • 24c · Other expenses: REAL ESTATE TAXES

    total $21,026 · program services $21,026

  • 24d · Other expenses: CONTRACTED SERVICES

    total $18,558 · program services $18,558

  • 24e · All other expenses

    total $3,462 · program services $3,092 · management and general $370

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,081 · end of year $2,730

  • 4 · Accounts receivable

    beginning of year $159 · end of year $327

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,159 · end of year $3,317

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

    $3,564,415

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

    $1,439,768

  • 10c · Land, buildings and equipment, net

    beginning of year $2,213,360 · end of year $2,124,647

  • 15 · Other assets

    beginning of year $212,952 · end of year $202,239

  • 19 · Deferred revenue

    beginning of year $32 · end of year $32

  • 21 · Escrow or custodial account liability

    beginning of year $13,011 · end of year $15,354

  • 23 · Secured mortgages and notes payable

    beginning of year $3,288,400 · end of year $3,288,400

  • 25 · Other liabilities

    beginning of year $102,319 · end of year $102,734

  • 27 · Net assets without donor restrictions

    beginning of year -$973,051 · end of year -$1,073,260

Mission and programs · 2022

Mission

TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVES.

Activities or mission (Part I)

TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL, AND PSYCHOLOGICAL NEEDS, AND TO PROMOTE THEIR HEALTH, SECURITY, HAPPINESS, AND USEFULNESS IN LONGER LIVING.

  • PROVIDE LOW COST HOUSING TO QUALIFIED ELDERLY AND PHYSICALLY CHALLENGED INDIVIDUALS

    Expenses $239,957 · Revenue $212,770

As filed on the 2022 return.

Listed in Part VII

  • Rick Hale

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1

  • Fran Billen

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 0.8 related

  • Alan Nathan

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1 + 0.6 related

  • Sam Bellich

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.1 + 0.3 related

  • John Reed

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.1

  • Wilma Torres

    CEO

    Total calculated
    $119,108
    From this org
    $0
    From related orgs
    $102,515
    Other
    $16,593
    Hours/week
    0.1 + 39.9 related

  • Michelle Clarke

    CFO

    Total calculated
    $71,181
    From this org
    $0
    From related orgs
    $61,909
    Other
    $9,272
    Hours/week
    0.1 + 39.9 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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
19 October 2023
IRS schema version
2022v5.0
Source object
202332939349301508

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