Form 990 for tax year 2022
Filed by SALEM HOUSING DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $495,493
- Total expenses
- $490,177
- Contributions and grants received
- $390,464
- Grants paid
- $0
- Program service revenue
- $102,843
- Investment income
- $9
- Other revenue
- $2,177
- Total assets, end of year
- $956,311
- Total liabilities, end of year
- $1,744,187
- Net assets or fund balances, end of year
- -$787,876
- Program services expenses (Part IX)
- $481,443
- Management and general expenses
- $8,734
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $481,443
Program services were 98.2% 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.
-
1e · Government grants (contributions)
$389,464
-
1f · All other contributions, gifts and grants
$1,000
-
2a · Program service revenue: RENTAL INCOME
total $102,843 · related or exempt $102,843
-
3 · Investment income
total $9 · related or exempt $9
-
11a · Other revenue: LAUNDRY & VENDING
total $2,177 · related or exempt $2,177
-
11e · Other revenue, total
$2,177
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $99,348 · program services $99,348
-
10 · Payroll taxes
total $7,600 · program services $7,600
-
11a · Fees: management
total $480 · program services $480
-
11b · Fees: legal
total $1,224 · program services $1,224
-
11c · Fees: accounting
total $26,850 · program services $26,850
-
12 · Advertising and promotion
total $499 · program services $499
-
13 · Office expenses
total $5,440 · program services $2,002 · management and general $3,438
-
16 · Occupancy
total $35,710 · program services $35,710
-
20 · Interest
total $77,555 · program services $77,538 · management and general $17
-
22 · Depreciation, depletion and amortization
total $73,975 · program services $73,975
-
23 · Insurance
total $28,966 · program services $28,966
-
24a · Other expenses: REPAIRS
total $76,871 · program services $76,871
-
24b · Other expenses: PROPERTY TAXES
total $21,313 · program services $21,313
-
24c · Other expenses: CLEANING AND MAINTENANC
total $8,605 · program services $4,980 · management and general $3,625
-
24d · Other expenses: TELEPHONE EXPENSE
total $5,972 · program services $5,972
-
24e · All other expenses
total $19,769 · program services $18,115 · management and general $1,654
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $182,806 · end of year $157,477
-
4 · Accounts receivable
beginning of year $31,955 · end of year $5,896
-
9 · Prepaid expenses and deferred charges
beginning of year $6,828 · end of year $6,828
-
10a · Land, buildings and equipment: cost or other basis
$2,628,010
-
10b · Land, buildings and equipment: accumulated depreciation
$2,031,558
-
10c · Land, buildings and equipment, net
beginning of year $624,069 · end of year $596,452
-
13 · Investments: program-related
beginning of year $58,035 · end of year $73,610
-
14 · Intangible assets
beginning of year $57,148 · end of year $57,148
-
15 · Other assets
beginning of year $36,739 · end of year $58,900
-
17 · Accounts payable and accrued expenses
beginning of year $41,289 · end of year $36,402
-
23 · Secured mortgages and notes payable
beginning of year $1,729,428 · end of year $1,672,707
-
25 · Other liabilities
beginning of year $7,551 · end of year $35,078
-
27 · Net assets without donor restrictions
beginning of year -$780,688 · end of year -$787,876
Mission and programs · 2022
Mission
SALEM HOUSING DEVELPMENT CORPORATION IS A NOT-FOR-PROFIT CORPORATION THAT WAS FORMED MAY 15, 1981 UNDER THE NOT-FOR-PROFIT STATUES OF THE STATE OF NEBRASKA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 50 UNIT COMMUNITY KNOWN AS J.C. WADE SENIOR VILLA LOCATED IN OMAHA, NEBRASKA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS.
-
SALEM HOUSING DEVELPMENT CORPORATION IS A NOT-FOR-PROFIT CORPORATION THAT WAS FORMED MAY 15, 1981 UNDER THE NOT-FOR-PROFIT STATUES OF THE STATE OF NEBRASKA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 50 UNIT COMMUNITY KNOWN AS J.C. WADE SENIOR VILLA LOCATED IN OMAHA, NEBRASKA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS.
Expenses $481,443 · Revenue $105,029
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Ernest LangfordERNEST LANGFORD
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
James BrewerJAMES BREWER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Sandra FosterSANDRA FOSTER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Mark OwsleyMARK OWSLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jessie BrownJESSIE BROWN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Aaron DaileyAARON DAILEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
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
- 8 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202313139349302846
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