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← WESTLAND ADAMS MANAGEMENT CORPORATION

Form 990 for tax year 2022

Filed by WESTLAND ADAMS MANAGEMENT CORPORATION.

Totals

Total revenue
$125,520
Total expenses
$167,476
Contributions and grants received
$72,738
Grants paid
$0
Program service revenue
$50,980
Investment income
$64
Other revenue
$1,738
Total assets, end of year
$555,346
Total liabilities, end of year
$13,116
Net assets or fund balances, end of year
$542,230
Program services expenses (Part IX)
$122,242
Management and general expenses
$45,234
Fundraising expenses
$0
Program service expenses (Part III)
$122,242

Program services were 73.0% 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)

    $72,738

  • 2a · Program service revenue: RENTAL INCOME

    total $50,980 · related or exempt $50,980

  • 3 · Investment income

    total $64 · related or exempt $64

  • 11a · Other revenue: LAUNDRY

    total $1,738 · related or exempt $1,738

  • 11e · Other revenue, total

    $1,738

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $12,515 · management and general $12,515

  • 11c · Fees: accounting

    total $8,348 · management and general $8,348

  • 16 · Occupancy

    total $18,883 · program services $18,883

  • 22 · Depreciation, depletion and amortization

    total $28,580 · program services $28,580

  • 24a · Other expenses: REPAIRS AND IMPROVEMENT

    total $42,545 · program services $42,545

  • 24b · Other expenses: CONTRACTUAL SERVICES

    total $25,294 · program services $25,294

  • 24c · Other expenses: SURPLUS CASH REPAYMENT

    total $20,817 · management and general $20,817

  • 24d · Other expenses: TAXES AND PROPERTY INSU

    total $6,940 · program services $6,940

  • 24e · All other expenses

    total $3,554 · management and general $3,554

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,207 · end of year $2,845

  • 2 · Savings and temporary cash investments

    beginning of year $121,891 · end of year $64,585

  • 4 · Accounts receivable

    beginning of year $320 · end of year $0

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

    $1,125,089

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

    $640,968

  • 10c · Land, buildings and equipment, net

    beginning of year $460,307 · end of year $484,121

  • 15 · Other assets

    beginning of year $3,641 · end of year $3,795

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,726 · end of year $9,695

  • 25 · Other liabilities

    beginning of year $3,147 · end of year $3,421

  • 27 · Net assets without donor restrictions

    beginning of year -$385,607 · end of year -$427,870

  • 28 · Net assets with donor restrictions

    beginning of year $970,100 · end of year $970,100

Mission and programs · 2022

Mission

TO PROVIDE AFFORDABLE HOUSING FOR PEOPLE WITH PSYCHIATRIC DISABILITIES TO PROMOTE COMMUNITY PRIDE AND COHESION, INDIVIDUAL SELF-ESTEEM, SELF-SUFFICIENCY, AND FORMATION OF STRONG FAMILIES AND OTHER RELATIONSHIPS IN THE COMMUNITY.

Activities or mission (Part I)

TO DEVELOP AND OPERATE A 16 UNIT APARTMENT BUILDING TO PROVIDE AFFORDABLE HOUSING FOR PEOPLE WITH PSYCHIATRIC DISABILITIES

  • TO PROVIDE AFFORDABLE HOUSING FOR PEOPLE WITH PSYCHIATRIC DISABILITIES TO PROMOTE COMMUNITY PRIDE AND COHESION, INDIVIDUAL SELF-ESTEEM, SELF-SUFFICIENCY AND FORMATION OF STRONG FAMILIES AND OTHER RELATIONSHIPS IN THE COMMUNITY.

    Expenses $122,242 · Revenue $52,782

As filed on the 2022 return.

Listed in Part VII

  • GARY LOUGHNER

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • LIZ FORD

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • SHELENE SHREWSBURY

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CECILIA BROWN

    MEMBER

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM L WEBB

    SECRETARY/TREASURE

    Total calculated
    $0
    Hours/week
    1

  • F JEAN PHILLIPS

    MEMBER

    Total calculated
    $0
    Hours/week
    1

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.

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202343179349301969

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