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← EAST SALEM APARTMENTS INC

Form 990 for tax year 2024

Filed by EAST SALEM APARTMENTS INC.

Totals

Total revenue
$103,120
Total expenses
$126,033
Contributions and grants received
$59,593
Grants paid
$0
Program service revenue
$43,523
Investment income
$4
Other revenue
$0
Total assets, end of year
$550,235
Total liabilities, end of year
$116,763
Net assets or fund balances, end of year
$433,472
Program services expenses (Part IX)
$118,761
Management and general expenses
$7,272
Fundraising expenses
$0
Program service expenses (Part III)
$118,761

Program services were 94.2% 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)

    $59,593

  • 2a · Program service revenue: TENANT RENTAL PAYMENTS

    total $43,523 · related or exempt $43,523

  • 3 · Investment income

    total $4 · excluded $4

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $10,517 · program services $10,517

  • 11c · Fees: accounting

    total $5,836 · management and general $5,836

  • 12 · Advertising and promotion

    total $134 · program services $134

  • 13 · Office expenses

    total $5,300 · program services $5,300

  • 16 · Occupancy

    total $23,369 · program services $23,369

  • 19 · Conferences, conventions and meetings

    total $122 · program services $122

  • 22 · Depreciation, depletion and amortization

    total $22,950 · program services $22,950

  • 23 · Insurance

    total $11,431 · program services $11,431

  • 24a · Other expenses: GARBAGE AND TRASH REMOV

    total $11,029 · program services $11,029

  • 24b · Other expenses: CONTRACTS

    total $10,761 · program services $10,761

  • 24c · Other expenses: PAYROLL REIMBURSEMENT

    total $9,170 · program services $9,170

  • 24d · Other expenses: HEATING/COOLING REPAIRS

    total $4,444 · program services $4,444

  • 24e · All other expenses

    total $10,970 · program services $9,534 · management and general $1,436

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $455 · end of year $4,081

  • 2 · Savings and temporary cash investments

    beginning of year $45,376 · end of year $50,459

  • 4 · Accounts receivable

    beginning of year $288 · end of year $352

  • 9 · Prepaid expenses and deferred charges

    beginning of year $136 · end of year $97

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

    $1,051,231

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

    $559,362

  • 10c · Land, buildings and equipment, net

    beginning of year $514,819 · end of year $491,869

  • 15 · Other assets

    beginning of year $2,864 · end of year $3,377

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,306 · end of year $17,308

  • 19 · Deferred revenue

    beginning of year $657 · end of year $352

  • 23 · Secured mortgages and notes payable

    beginning of year $95,726 · end of year $95,726

  • 25 · Other liabilities

    beginning of year $2,864 · end of year $3,377

  • 27 · Net assets without donor restrictions

    beginning of year $456,385 · end of year $433,472

Mission and programs · 2024

Mission

OPERATE A SECTION 811 APARTMENT COMPLEX FOR THE PHYSICALLY HANDICAPPED

Activities or mission (Part I)

PHYSICALLY HANDICAPPED HOUSING SERVICES

  • OPERATING A SECTION 811 APARTMENT COMPLEX FOR THE PHYSICALLY HANDICAPPED.

    Expenses $118,761 · Revenue $43,523

As filed on the 2024 return.

Listed in Part VII

  • Craig Peatross

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0

  • Mallory Oldham

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • Garry Merritt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Diane Evans

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Tammy Vernon

    OUTGOING TREASURER

    Total calculated
    $121,695
    From this org
    $0
    From related orgs
    $121,695
    Other
    $0
    Hours/week
    0.2 + 40 related

  • Ahaz Armstrong

    TREASURER

    Total calculated
    $0
    Hours/week
    0.2 + 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.

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
28 October 2025
IRS schema version
2024v5.2
Source object
202513039349300306

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