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Nonprofiteer
← MYERS SENIOR RESIDENCE INC

Form 990 for tax year 2022

Filed by MYERS SENIOR RESIDENCE INC.

Totals

Total revenue
$458,331
Total expenses
$722,587
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$457,512
Investment income
$770
Other revenue
$49
Total assets, end of year
$8,923,510
Total liabilities, end of year
$280,491
Net assets or fund balances, end of year
$8,643,019
Program services expenses (Part IX)
$631,391
Management and general expenses
$91,196
Fundraising expenses
$0
Program service expenses (Part III)
$631,391

Program services were 87.4% 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: HUD RENTAL ASSISTANCE

    total $254,736 · related or exempt $254,736

  • 2b · Program service revenue: RENT - TENANT

    total $202,776 · related or exempt $202,776

  • 3 · Investment income

    total $770 · excluded $770

  • 11a · Other revenue: MISCELLANEOUS

    total $49 · excluded $49

  • 11e · Other revenue, total

    $49

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $84,460 · program services $51,916 · management and general $32,544

  • 9 · Other employee benefits

    total $12,206 · program services $7,503 · management and general $4,703

  • 10 · Payroll taxes

    total $7,341 · program services $4,512 · management and general $2,829

  • 11a · Fees: management

    total $33,048 · program services $33,048

  • 11b · Fees: legal

    total $145 · program services $145

  • 11c · Fees: accounting

    total $22,760 · management and general $22,760

  • 13 · Office expenses

    total $10,610 · management and general $10,610

  • 16 · Occupancy

    total $93,227 · program services $93,227

  • 22 · Depreciation, depletion and amortization

    total $267,169 · program services $267,169

  • 23 · Insurance

    total $66,204 · program services $66,204

  • 24a · Other expenses: MISCELLANEOUS

    total $66,597 · program services $48,847 · management and general $17,750

  • 24b · Other expenses: CONTRACTS

    total $25,377 · program services $25,377

  • 24c · Other expenses: SUPPLIES

    total $14,456 · program services $14,456

  • 24d · Other expenses: ADMINISTRATIVE RENT FRE

    total $10,020 · program services $10,020

  • 24e · All other expenses

    total $8,967 · program services $8,967

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $55,882 · end of year $54,262

  • 4 · Accounts receivable

    beginning of year $9,462 · end of year $29,731

  • 9 · Prepaid expenses and deferred charges

    beginning of year $78

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

    $10,961,844

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

    $2,521,277

  • 10c · Land, buildings and equipment, net

    beginning of year $8,691,946 · end of year $8,440,567

  • 15 · Other assets

    beginning of year $396,523 · end of year $398,950

  • 17 · Accounts payable and accrued expenses

    beginning of year $195,959 · end of year $256,494

  • 19 · Deferred revenue

    beginning of year $1,542 · end of year $1,309

  • 21 · Escrow or custodial account liability

    beginning of year $17,723 · end of year $17,826

  • 25 · Other liabilities

    beginning of year $5,279 · end of year $4,862

  • 27 · Net assets without donor restrictions

    beginning of year $8,933,388 · end of year $8,643,019

Mission and programs · 2022

Mission

THE ORGANIZATION PROVIDES 50 UNITS OF RESIDENTIAL HOUSING FOR LOW-INCOME ELDERLY TENANTS.

Activities or mission (Part I)

TO PROVIDE LOW INCOME HOUSING FOR LOW INCOME ELDERLY TENANTS

  • THE ORGANIZATION PROVIDES 50 UNITS OF RESIDENTIAL HOUSING FOR THE ELDERLY.

    Expenses $631,391 · Revenue $457,512

As filed on the 2022 return.

Listed in Part VII

  • John Westervelt

    PRESIDENT AND TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Henry Amoroso

    VICE CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Richard Malagiere

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Reverend Monsignor Ronald Rozniak

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • J Kenneth Pagano

    TRUSTEE

    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.

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.

  • HARRISON SENIOR URBAN RENEWAL LP

    N/A · LOW-INCOME HOUSING · NJ

Provenance

Return type
form_990
Tax year
2022
Filed
9 November 2023
IRS schema version
2022v5.0
Source object
202333169349300508

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