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Nonprofiteer
← AMERICAN AGAPE FOUNDATION INC

Form 990 for tax year 2024

Filed by AMERICAN AGAPE FOUNDATION INC.

Totals

Total revenue
$1,375,222
Total expenses
$1,042,419
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$1,349,404
Investment income
$25,818
Other revenue
$0
Total assets, end of year
$4,371,385
Total liabilities, end of year
$3,743,032
Net assets or fund balances, end of year
$628,353
Program services expenses (Part IX)
$976,475
Management and general expenses
$65,944
Fundraising expenses
$0
Program service expenses (Part III)
$976,475

Program services were 93.7% 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: APARTMENT RENTALS

    total $1,349,404 · related or exempt $1,349,404

  • 3 · Investment income

    total $25,818 · excluded $25,818

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $55,759 · management and general $55,759

  • 11b · Fees: legal

    total $75 · management and general $75

  • 11c · Fees: accounting

    total $10,110 · management and general $10,110

  • 13 · Office expenses

    total $21,835 · program services $21,835

  • 16 · Occupancy

    total $332,981 · program services $332,981

  • 20 · Interest

    total $207,486 · program services $207,486

  • 22 · Depreciation, depletion and amortization

    total $201,375 · program services $201,375

  • 23 · Insurance

    total $103,982 · program services $103,982

  • 24a · Other expenses: MGT PAYROLL COSTS

    total $65,539 · program services $65,539

  • 24b · Other expenses: RENT FREE APARTMENT

    total $14,040 · program services $14,040

  • 24c · Other expenses: MISC ADMINISTRATIVE EXPEN

    total $11,152 · program services $11,152

  • 24d · Other expenses: MISC. FINANCIAL EXPENSE

    total $6,541 · program services $6,541

  • 24e · All other expenses

    total $11,544 · program services $11,544

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $135,455 · end of year $164,015

  • 4 · Accounts receivable

    beginning of year $4,674 · end of year $6,284

  • 9 · Prepaid expenses and deferred charges

    beginning of year $32,859 · end of year $34,093

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

    $5,277,361

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

    $1,591,680

  • 10c · Land, buildings and equipment, net

    beginning of year $3,646,113 · end of year $3,685,681

  • 14 · Intangible assets

    beginning of year $133,172 · end of year $128,179

  • 15 · Other assets

    beginning of year $270,485 · end of year $353,133

  • 17 · Accounts payable and accrued expenses

    beginning of year $179,963 · end of year $82,617

  • 20 · Tax-exempt bond liabilities

    beginning of year $3,713,881 · end of year $3,633,928

  • 25 · Other liabilities

    beginning of year $33,364 · end of year $26,487

  • 27 · Net assets without donor restrictions

    beginning of year $295,550 · end of year $628,353

Mission and programs · 2024

Mission

TO PROVIDED LOW-INCOME HOUSING AT A 91-UNIT PROPERTY IN FAYETTEVILLE ARKANSAS FOR LOW-INCOME FAMILIES AND INDIVIDUALS.

  • TO PROVIDED LOW-INCOME HOUSING FOR A 91-UNIT PROPERTY IN FAYETTEVILLE ARKANSAS FOR LOW-INCOME FAMILIES AND INDIVIDUALS.

    Expenses $976,475 · Revenue $1,349,404

As filed on the 2024 return.

Listed in Part VII

  • Sherry Mitchell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • James H Shipley

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • David Starr

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2 + 40 related

  • Natasha Winfield

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2024
Filed
7 May 2025
IRS schema version
2024v5.0
Source object
202531329349305598

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