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Nonprofiteer
← FAIROAKS OF DENTON INCORPORATED

Form 990 for tax year 2024

Filed by FAIROAKS OF DENTON INCORPORATED.

Totals

Total revenue
$582,370
Total expenses
$594,781
Contributions and grants received
$11,250
Grants paid
$4,620
Program service revenue
$544,191
Investment income
$20,644
Other revenue
$6,285
Total assets, end of year
$1,715,380
Total liabilities, end of year
$38,781
Net assets or fund balances, end of year
$1,676,599
Program services expenses (Part IX)
$398,567
Management and general expenses
$196,214
Fundraising expenses
$0
Program service expenses (Part III)
$398,567

Program services were 67.0% 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.

  • 1f · All other contributions, gifts and grants

    $11,250

  • 2a · Program service revenue: RENTAL INCOME

    total $544,191 · related or exempt $544,191

  • 3 · Investment income

    total $20,644 · excluded $20,644

  • 11a · Other revenue: TENANT CHARGES

    total $3,638 · excluded $3,638

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $1,799 · excluded $1,799

  • 11c · Other revenue: LAUNDRY AND VENDING RE

    total $848 · excluded $848

  • 11e · Other revenue, total

    $6,285

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $4,620 · program services $4,620

  • 7 · Other salaries and wages

    total $186,182 · program services $68,026 · management and general $118,156

  • 8 · Pension plan contributions

    total $4,394 · program services $1,605 · management and general $2,789

  • 9 · Other employee benefits

    total $27,853 · program services $10,177 · management and general $17,676

  • 10 · Payroll taxes

    total $11,559 · program services $4,223 · management and general $7,336

  • 11b · Fees: legal

    total $252 · management and general $252

  • 11c · Fees: accounting

    total $6,688 · management and general $6,688

  • 11g · Fees: other

    total $36,974 · program services $25,701 · management and general $11,273

  • 12 · Advertising and promotion

    total $72 · management and general $72

  • 13 · Office expenses

    total $13,619 · management and general $13,619

  • 14 · Information technology

    total $123 · management and general $123

  • 16 · Occupancy

    total $171,142 · program services $162,958 · management and general $8,184

  • 17 · Travel

    total $2,362 · management and general $2,362

  • 19 · Conferences, conventions and meetings

    total $991 · management and general $991

  • 22 · Depreciation, depletion and amortization

    total $71,106 · program services $71,106

  • 23 · Insurance

    total $43,497 · program services $43,497

  • 24a · Other expenses: SUPPORTIVE SERVICES

    total $6,520 · program services $6,520

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $4,707 · program services $14 · management and general $4,693

  • 24c · Other expenses: BAD DEBT

    total $2,000 · management and general $2,000

  • 24d · Other expenses: MISC EXP

    total $120 · program services $120

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,387 · end of year $3,181

  • 2 · Savings and temporary cash investments

    beginning of year $365,929 · end of year $424,554

  • 4 · Accounts receivable

    beginning of year $26,897 · end of year $59,338

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

    $2,569,830

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

    $1,364,357

  • 10c · Land, buildings and equipment, net

    beginning of year $1,417,408 · end of year $1,205,473

  • 15 · Other assets

    beginning of year $18,433 · end of year $22,834

  • 17 · Accounts payable and accrued expenses

    beginning of year $110,454 · end of year $0

  • 19 · Deferred revenue

    beginning of year $17,807 · end of year $21,061

  • 25 · Other liabilities

    beginning of year $21,783 · end of year $17,720

  • 27 · Net assets without donor restrictions

    beginning of year -$653,648 · end of year -$666,059

  • 28 · Net assets with donor restrictions

    beginning of year $2,342,658 · end of year $2,342,658

Mission and programs · 2024

Mission

TO PROVIDE HOUSING AND SERVICES TO LOWER INCOME ELDERLY AND DISABLED PERSONS.

  • FAIROAKS OF DENTON IS A NON-PROFIT CORPORATION ORGANIZED TO PROVIDED SUBSIDIZED HOUSING FOR THE LOWER INCOME ELDERLY AND DISABLED IN DENTON, TEXAS. FAIROAKS OF DENTON OPERATES A 41-UNIT HOUSING PROJECT FOR LOWER INCOME ELDERLY AND DISABLED.

    Expenses $398,567 · Grants $4,620 · Revenue $544,191

As filed on the 2024 return.

Listed in Part VII

  • Willie E Rivers

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 0.7 related

  • Stacie Herlihy

    CHAIR

    Total calculated
    $0
    Hours/week
    0.1 + 0.7 related

  • Adnan Zaidi

    SECRETARY (END TERM 11/24)

    Total calculated
    $0
    Hours/week
    0.1 + 0.7 related

  • Chris Warren

    TREASURER

    Total calculated
    $0
    Hours/week
    0.1 + 0.7 related

  • David Evans

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.1 + 0.7 related

  • Mary Lynn Carlson

    DIRECTOR (END TERM 10/24)

    Total calculated
    $0
    Hours/week
    0.1 + 0.7 related

  • Leona Driver

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.7 related

  • Nilsa Delghany

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.1 + 0.7 related

  • Lee Ann Hubanks

    PRESIDENT

    Total calculated
    $152,662
    From this org
    $0
    From related orgs
    $146,790
    Other
    $5,872
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $146,790 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,872 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $152,662 related

  • Rhoda Byers

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $168,426
    From this org
    $0
    From related orgs
    $161,948
    Other
    $6,478
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $161,948 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,478 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $168,426 related

  • Roque' Christensen

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $175,867
    From this org
    $0
    From related orgs
    $152,867
    Other
    $23,000
    Hours/week
    5 + 35 related

    Schedule J breakdown matched by us

    Base
    $0 + $152,867 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,000 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $175,867 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

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
14 August 2026
IRS schema version
2024v5.5
Source object
202602299349301675

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