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Nonprofiteer
← TRINITY TERRACE INC

Form 990 for tax year 2024

Filed by TRINITY TERRACE INC.

Totals

Total revenue
$446,574
Total expenses
$503,603
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$422,258
Investment income
$16,616
Other revenue
$7,700
Total assets, end of year
$1,332,410
Total liabilities, end of year
$2,026,278
Net assets or fund balances, end of year
-$693,868
Program services expenses (Part IX)
$383,625
Management and general expenses
$119,978
Fundraising expenses
$0
Program service expenses (Part III)
$383,625

Program services were 76.2% 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: RENT

    total $422,258 · related or exempt $422,258

  • 3 · Investment income

    total $16,616 · excluded $16,616

  • 11a · Other revenue: AIR CONDITIONING FEES

    total $2,965 · excluded $2,965

  • 11b · Other revenue: MISCELLANEOUS REVENUE

    total $1,401 · excluded $1,401

  • 11c · Other revenue: LAUNDRY

    total $1,191 · excluded $1,191

  • 11d · All other revenue

    total $2,143 · unrelated business $2,143

  • 11e · Other revenue, total

    $7,700

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $20,155 · program services $20,155

  • 8 · Pension plan contributions

    total $575 · program services $575

  • 9 · Other employee benefits

    total $7,523 · program services $7,523

  • 10 · Payroll taxes

    total $1,391 · program services $1,391

  • 11a · Fees: management

    total $69,977 · management and general $69,977

  • 11b · Fees: legal

    total $602 · management and general $602

  • 11c · Fees: accounting

    total $32,627 · management and general $32,627

  • 11g · Fees: other

    total $50,324 · program services $50,324

  • 12 · Advertising and promotion

    total $3,602 · management and general $3,602

  • 16 · Occupancy

    total $94,851 · program services $94,851

  • 19 · Conferences, conventions and meetings

    total $1,301 · management and general $1,301

  • 20 · Interest

    total $48,577 · program services $48,577

  • 22 · Depreciation, depletion and amortization

    total $135,899 · program services $135,899

  • 23 · Insurance

    total $14,944 · program services $14,824 · management and general $120

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $11,749 · management and general $11,749

  • 24b · Other expenses: RESIDENT CARE SUPPLIES

    total $5,880 · program services $5,880

  • 24c · Other expenses: BAD DEBT

    total $3,626 · program services $3,626

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $32,610 · end of year $316

  • 2 · Savings and temporary cash investments

    beginning of year $17,547 · end of year $18,811

  • 4 · Accounts receivable

    beginning of year $1,291 · end of year $5,709

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,790 · end of year $14,717

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

    $2,964,524

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

    $2,069,890

  • 10c · Land, buildings and equipment, net

    beginning of year $962,534 · end of year $894,634

  • 15 · Other assets

    beginning of year $363,351 · end of year $398,223

  • 17 · Accounts payable and accrued expenses

    beginning of year $25,377 · end of year $31,777

  • 23 · Secured mortgages and notes payable

    beginning of year $1,826,626 · end of year $1,774,270

  • 25 · Other liabilities

    beginning of year $180,959 · end of year $220,231

  • 27 · Net assets without donor restrictions

    beginning of year -$636,839 · end of year -$693,868

Mission and programs · 2024

Mission

TRINITY TERRACE IS AN INDEPENDENT LIVING, LOW INCOME HOUSING FACILITY WITH 39 UNITS. IT HAS ONE BEDROOM AND STUDIO APARTMENTS FOR INDEPENDENT SENIORS. THE BUILDING ALSO HAS A SECURED LOCKED ENTRY, COMPUTER CENTER WITH FREE INTERNET ACCESS, AND PARKING.

Activities or mission (Part I)

TRINITY TERRACE IS AN INDEPENDENT LIVING, LOW INCOME HOUSING FACILITY WITH 39 UNITS. IT HAS ONE BEDROOM AND STUDIO APARTMENTS FOR INDEPENDENT SENIORS. THE BUILDING ALSO HAS A SECURED LOCKED ENTRY, BEAUTY/BARBER SHOP, COMPUTER CENTER WITH FREE INTERNET ACCESS, AND PARKING.

  • LOW INCOME HOUSING THROUGH HUD FOR INDEPENDENT SENIORS.

    Expenses $383,625 · Revenue $422,258

As filed on the 2024 return.

Listed in Part VII

  • MATTHEW MAUTHE

    CEO

    Total calculated
    $548,823
    From this org
    $0
    From related orgs
    $526,170
    Other
    $22,653
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $526,170 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $22,653 related
    Filer's total
    $0 + $548,823 related

  • MICHAEL LIBBY

    COO

    Total calculated
    $295,684
    From this org
    $0
    From related orgs
    $278,411
    Other
    $17,273
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $278,411 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $17,273 related
    Filer's total
    $0 + $295,684 related

  • NICOLE CHWALA

    CFO

    Total calculated
    $262,650
    From this org
    $0
    From related orgs
    $246,907
    Other
    $15,743
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $246,907 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $15,743 related
    Filer's total
    $0 + $262,650 related

  • KEN SMITH

    PRESIDENT

    Total calculated
    $111,712
    From this org
    $0
    From related orgs
    $110,935
    Other
    $777
    Hours/week
    1 + 40 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

The filer's explanations (Part III)

PART I, LINE 3
RELATED ORGANIZATIONS USE THE FOLLOWING TO ESTABLISH THE COMPENSATION OF INDEPENDENT COMPENSATION CONSULTANT COMPENSATION SURVEY OR STUDY THE CEO/EXECUTIVE DIRECTOR: FORM 990 OF OTHER ORGANIZATIONS APPROVAL BY THE BOARD OF COMPENSATION COMMITTEE

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
13 November 2025
IRS schema version
2024v5.2
Source object
202523179349311562

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