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Nonprofiteer
← TERRACE OVERVIEW HOUSING CORP

Form 990 for tax year 2024

Filed by TERRACE OVERVIEW HOUSING CORP.

Totals

Total revenue
$166,980
Total expenses
$158,844
Contributions and grants received
$128,437
Grants paid
$0
Program service revenue
$36,443
Investment income
$1,430
Other revenue
$670
Total assets, end of year
$464,554
Total liabilities, end of year
$438,669
Net assets or fund balances, end of year
$25,885
Program services expenses (Part IX)
$143,714
Management and general expenses
$15,130
Fundraising expenses
$0
Program service expenses (Part III)
$143,714

Program services were 90.5% 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.

  • 1e · Government grants (contributions)

    $128,437

  • 2a · Program service revenue: RENT INCOME

    total $36,443 · related or exempt $36,443

  • 3 · Investment income

    total $1,430 · excluded $1,430

  • 11a · Other revenue: LAUNDRY & VENDING

    total $670 · related or exempt $670

  • 11e · Other revenue, total

    $670

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $8,123 · management and general $8,123

  • 11g · Fees: other

    total $19,738 · program services $19,738

  • 12 · Advertising and promotion

    total $473 · program services $473

  • 13 · Office expenses

    total $2,002 · program services $2,002

  • 14 · Information technology

    total $320 · program services $320

  • 16 · Occupancy

    total $55,607 · program services $55,607

  • 17 · Travel

    total $72 · program services $72

  • 19 · Conferences, conventions and meetings

    total $14 · program services $14

  • 20 · Interest

    total $27,577 · program services $27,577

  • 22 · Depreciation, depletion and amortization

    total $21,656 · program services $21,656

  • 24a · Other expenses: REIMBURSED EXPENSES

    total $21,032 · program services $14,025 · management and general $7,007

  • 24b · Other expenses: MORTGAGE INSURANCE

    total $1,928 · program services $1,928

  • 24c · Other expenses: EDUCATIONAL EXPENSE

    total $302 · program services $302

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $17,962 · end of year $4,213

  • 2 · Savings and temporary cash investments

    beginning of year $201,803 · end of year $225,260

  • 4 · Accounts receivable

    beginning of year $339 · end of year $8,739

  • 9 · Prepaid expenses and deferred charges

    beginning of year $14,927 · end of year $15,298

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

    $810,362

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

    $622,701

  • 10c · Land, buildings and equipment, net

    beginning of year $206,408 · end of year $187,661

  • 14 · Intangible assets

    beginning of year $24,853 · end of year $23,383

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,212 · end of year $11,529

  • 19 · Deferred revenue

    beginning of year $384 · end of year $778

  • 21 · Escrow or custodial account liability

    beginning of year $3,439 · end of year $3,451

  • 23 · Secured mortgages and notes payable

    beginning of year $437,508 · end of year $422,911

  • 27 · Net assets without donor restrictions

    beginning of year $17,749 · end of year $25,885

Mission and programs · 2024

Mission

TERRACE OVERVIEW HOUSING CORP, THROUGH ITS MANAGEMENT AGENT HOUSING AND NEIGHBORHOOD DEVELOPMENT SERVICE (HANDS) AND IN COOPERATION WITH UNITED COMMUNITIES INDEPENDENCE PROGRAM (UCIP) PROVIDES ATTRACTIVE AND AFFORDABLE RENTAL HOUSING TO LOW INCOME DISABLED INDIVIDUALS IN MEADVILLE, PA.

  • TO PROVIDE AND MAINTAIN 10 AFFORDABLE APARTMENT HOMES FOR ADULTS WITH A DEVELOPMENTAL DISABILITY.

    Expenses $143,714 · Revenue $37,113

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Susan Hackworth

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1
  • Caprice Hudson

    SECRETARY

    Total calculated
    $0
    Hours/week
    1
  • Robert McMunigle

    TREASURER

    Total calculated
    $0
    Hours/week
    1
  • Andy Bitner

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Tom Cacek

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Stan McClure

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Gretchen McGinley

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Lauren Notz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Joey Patterson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Ruth Peterson

    BOARD MEMBER

    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
2024
Filed
5 June 2026
IRS schema version
2024v5.5
Source object
202601619349301555

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