Totals
- Total revenue
- $452,211
- Total expenses
- $517,785
- Contributions and grants received
- $221,409
- Grants paid
- $0
- Program service revenue
- $230,719
- Investment income
- $83
- Other revenue
- $0
- Total assets, end of year
- $2,383,659
- Total liabilities, end of year
- $4,379,362
- Net assets or fund balances, end of year
- -$1,995,703
- Program services expenses (Part IX)
- $448,413
- Management and general expenses
- $69,372
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $448,413
Program services were 86.6% 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)
$221,409
-
2a · Program service revenue: TENANT RENT
total $225,810 · related or exempt $225,810
-
2b · Program service revenue: LAUNDRY REVENUE
total $4,323 · related or exempt $4,323
-
2c · Program service revenue: TENANT CHARGES
total $586 · related or exempt $586
-
3 · Investment income
total $83 · excluded $83
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $92,127 · program services $92,127
-
9 · Other employee benefits
total $8,928 · program services $8,928
-
10 · Payroll taxes
total $10,134 · program services $10,134
-
11a · Fees: management
total $49,249 · management and general $49,249
-
11c · Fees: accounting
total $11,578 · management and general $11,578
-
13 · Office expenses
total $7,506 · management and general $7,506
-
16 · Occupancy
total $192,743 · program services $192,743
-
22 · Depreciation, depletion and amortization
total $105,809 · program services $105,809
-
23 · Insurance
total $29,903 · program services $29,903
-
24a · Other expenses: ADMINISTRATIVE RENT FRE
total $8,769 · program services $8,769
-
24b · Other expenses: MISC
total $1,039 · management and general $1,039
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,224 · end of year $949
-
2 · Savings and temporary cash investments
beginning of year $18,052 · end of year $18,476
-
4 · Accounts receivable
end of year $245
-
9 · Prepaid expenses and deferred charges
end of year $2,833
-
10a · Land, buildings and equipment: cost or other basis
$4,385,794
-
10b · Land, buildings and equipment: accumulated depreciation
$2,195,020
-
10c · Land, buildings and equipment, net
beginning of year $2,295,194 · end of year $2,190,774
-
15 · Other assets
beginning of year $155,204 · end of year $170,382
-
17 · Accounts payable and accrued expenses
beginning of year $143,784 · end of year $121,920
-
24 · Unsecured notes and loans payable
beginning of year $4,239,560 · end of year $4,239,560
-
25 · Other liabilities
beginning of year $17,459 · end of year $17,882
-
27 · Net assets without donor restrictions
beginning of year -$1,930,129 · end of year -$1,995,703
Mission and programs · 2022
Mission
PROVIDE LOW INCOME HOUSING TO THE ELDERLY IN TIVERTON,RI UNDER SECTION 202 OF THE NATIONAL HOUSING ACT. REGULATED BY HUD AS TO RENTAL CHARGES AND OPERATING METHODS. OPERATES A 51 UNIT APARTMENT COMPLEX IN TIVERTON, RI KNOWN AS HANCOCK ESTATES.
Activities or mission (Part I)
TO PROVIDE AFFORDABLE HOUSING TO THE ELDERLY AND DISABLED IN TIVERTON, RI.
-
PROVIDE LOW INCOME HOUSING TO THE ELDERLY AND DISABLED IN THE TIVERTON, RI AREA UNDER SECTION 202 OF THE NATIONAL HOUSING ACT.(51 UNITS)
Expenses $448,413 · Revenue $452,211
As filed on the 2022 return.
Listed in Part VII
-
James DilleyJAMES DILLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
William EnosWILLIAM ENOS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Edward MulhollandEDWARD MULHOLLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Eugene McMahonEUGENE MCMAHON
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.5
-
Joseph LamagnaJOSEPH LAMAGNA
VICE CHAIRMAN
- Total calculated
- $0
- Hours/week
- 0.5
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.
-
VALLEY AFFORDABLE HOUSING CORP DBA PINNACLE PROPERTY MANAGEMENT LLC
501C · MANAGEMENT OF LOW INCOME HOUSING · RI
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 29 June 2023
- IRS schema version
- 2022v5.0
- Source object
- 202302899349302545
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