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Nonprofiteer
← COVENTRY PLACE INCORPORATED

Form 990 for tax year 2024

Filed by COVENTRY PLACE INCORPORATED.

Totals

Total revenue
$680,526
Total expenses
$527,823
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$678,279
Investment income
$212
Other revenue
$2,035
Total assets, end of year
$3,155,686
Total liabilities, end of year
$115,028
Net assets or fund balances, end of year
$3,040,658
Program services expenses (Part IX)
$461,959
Management and general expenses
$65,864
Fundraising expenses
$0
Program service expenses (Part III)
$461,959

Program services were 87.5% 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: RENTAL INCOME

    total $678,279 · related or exempt $678,279

  • 3 · Investment income

    total $212 · excluded $212

  • 11a · Other revenue: TENANT CHARGES

    total $2,035 · related or exempt $2,035

  • 11e · Other revenue, total

    $2,035

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $34,981 · management and general $34,981

  • 11b · Fees: legal

    total $1,430 · management and general $1,430

  • 11c · Fees: accounting

    total $14,875 · management and general $14,875

  • 11g · Fees: other

    total $77,970 · program services $77,970

  • 13 · Office expenses

    total $71,052 · program services $56,474 · management and general $14,578

  • 16 · Occupancy

    total $210,297 · program services $210,297

  • 20 · Interest

    total $5 · program services $5

  • 22 · Depreciation, depletion and amortization

    total $77,677 · program services $77,677

  • 23 · Insurance

    total $27,478 · program services $27,478

  • 24a · Other expenses: BAD DEBT

    total $12,058 · program services $12,058

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,687 · end of year $1,021

  • 4 · Accounts receivable

    beginning of year $77,544 · end of year $4,527

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,811 · end of year $58,975

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

    $4,172,210

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

    $1,308,606

  • 10c · Land, buildings and equipment, net

    beginning of year $2,941,281 · end of year $2,863,604

  • 15 · Other assets

    beginning of year $118,555 · end of year $227,559

  • 17 · Accounts payable and accrued expenses

    beginning of year $250,883 · end of year $77,407

  • 19 · Deferred revenue

    beginning of year $120 · end of year $16,747

  • 25 · Other liabilities

    beginning of year $19,920 · end of year $20,874

  • 27 · Net assets without donor restrictions

    beginning of year -$1,103,545 · end of year -$950,842

  • 28 · Net assets with donor restrictions

    beginning of year $3,991,500 · end of year $3,991,500

Mission and programs · 2024

Mission

TO PROVIDE LOW INCOME HOUSING FOR THE ELDERLY

Activities or mission (Part I)

TO PROVIDE LOW INCOME HOUSING FOR THE ELDERLY.

  • OPERATION OF 30-UNIT APARTMENT COMPLEX THROUGH A FEDERALLY SUBSIDIZED U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SECTION 202 PROGRAM TO SUPPORT LOW INCOME HOUSING FOR THE ELDERLY. THE PROJECT OPERATES UNDER THE SPONSORSHIP OF COMMUNITY RENEWAL TEAM (A NOT FOR PROFIT ORGANIZATION).

    Expenses $461,959 · Revenue $680,314

As filed on the 2024 return.

Listed in Part VII

  • Peter Roach

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

  • Mary Rose

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Pestana Jr

    SECRETARY/TREASURER

    Total calculated
    $135,660
    From this org
    $0
    From related orgs
    $108,760
    Other
    $26,900
    Hours/week
    1 + 40 related

  • Jose Vega

    DIRECTOR

    Total calculated
    $89,268
    From this org
    $0
    From related orgs
    $71,770
    Other
    $17,498
    Hours/week
    1 + 40 related

  • Nancy Pappas

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Julie Ackerman

    DIRECTOR

    Total calculated
    $162,926
    From this org
    $0
    From related orgs
    $135,068
    Other
    $27,858
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $135,068 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,912 related
    Nontaxable benefits
    $0 + $3,946 related
    Filer's total
    $0 + $162,926 related

  • Brenda Ransom

    VICE CHAIRPERSON

    Total calculated
    $113,857
    From this org
    $0
    From related orgs
    $109,742
    Other
    $4,115
    Hours/week
    1 + 40 related

  • Jeffrey Walsh

    CFO

    Total calculated
    $141,337
    From this org
    $0
    From related orgs
    $138,645
    Other
    $2,692
    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

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
16 October 2025
IRS schema version
2024v5.2
Source object
202532909349300648

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