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Nonprofiteer
← GARNETT SENIOR HOUSING FOUNDATION INC

Form 990 for tax year 2023

Filed by GARNETT SENIOR HOUSING FOUNDATION INC.

Totals

Total revenue
$521,116
Total expenses
$428,024
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$511,983
Investment income
$6,919
Other revenue
$2,214
Total assets, end of year
$675,481
Total liabilities, end of year
$460,893
Net assets or fund balances, end of year
$214,588
Program services expenses (Part IX)
$377,326
Management and general expenses
$50,698
Fundraising expenses
$0
Program service expenses (Part III)
$377,326

Program services were 88.2% 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: HUD Subsidy Rental Inc

    total $348,648 · related or exempt $348,648

  • 2b · Program service revenue: Rental and Other Incom

    total $163,335 · related or exempt $163,335

  • 3 · Investment income

    total $6,919 · excluded $6,919

  • 11a · Other revenue: Miscellaneous Income

    total $2,214 · related or exempt $2,214

  • 11e · Other revenue, total

    $2,214

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $94,002 · program services $94,002

  • 9 · Other employee benefits

    total $6,207 · program services $6,207

  • 10 · Payroll taxes

    total $7,335 · program services $7,335

  • 11a · Fees: management

    total $33,079 · management and general $33,079

  • 11c · Fees: accounting

    total $13,430 · management and general $13,430

  • 12 · Advertising and promotion

    total $1,166 · program services $1,166

  • 13 · Office expenses

    total $10,238 · program services $6,049 · management and general $4,189

  • 16 · Occupancy

    total $52,787 · program services $52,787

  • 20 · Interest

    total $41,964 · program services $41,964

  • 22 · Depreciation, depletion and amortization

    total $19,026 · program services $19,026

  • 23 · Insurance

    total $52,797 · program services $52,797

  • 24a · Other expenses: Operating & Maintenance

    total $91,980 · program services $91,980

  • 24b · Other expenses: Financial Expenses

    total $3,558 · program services $3,558

  • 24c · Other expenses: Dues & Subscriptions

    total $233 · program services $233

  • 24d · Other expenses: Education & Seminars

    total $180 · program services $180

  • 24e · All other expenses

    total $42 · program services $42

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $19,522 · end of year $14,796

  • 2 · Savings and temporary cash investments

    beginning of year $273,506

  • 4 · Accounts receivable

    end of year $1,289

  • 9 · Prepaid expenses and deferred charges

    beginning of year $46,880 · end of year $62,840

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

    $1,570,519

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

    $1,281,683

  • 10c · Land, buildings and equipment, net

    beginning of year $300,533 · end of year $288,836

  • 15 · Other assets

    beginning of year $13,255 · end of year $307,720

  • 17 · Accounts payable and accrued expenses

    beginning of year $99,757 · end of year $106,120

  • 19 · Deferred revenue

    beginning of year $22 · end of year $12

  • 23 · Secured mortgages and notes payable

    beginning of year $420,204 · end of year $341,285

  • 25 · Other liabilities

    beginning of year $12,217 · end of year $13,476

  • 27 · Net assets without donor restrictions

    beginning of year $121,496 · end of year $214,588

Mission and programs · 2023

Mission

To own and operate a rental housing property for low-income elderly persons under section 202 of the National Housing Act.

  • Operation & maintenance of an apartment complex for low-income elderly persons in accordance with the requirements of the Department of Housing and Urban Development.

    Expenses $377,326 · Revenue $514,197

As filed on the 2023 return.

Listed in Part VII

  • Gerald Eickhoff

    President

    Total calculated
    $0
    Hours/week
    1

  • Joseph F Glenn

    Vice President

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth C Glenn

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Larry Gay Reagan

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kim Delacey

    Director

    Total calculated
    $0
    Hours/week
    1

  • Robert L Reinhart

    Director

    Total calculated
    $0
    Hours/week
    1

  • Earleen S Abernathy

    Director

    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.

Provenance

Return type
form_990
Tax year
2023
Filed
13 November 2024
IRS schema version
2023v5.1
Source object
202443199349306384

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