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Nonprofiteer
← SALEM HOUSING DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by SALEM HOUSING DEVELOPMENT CORPORATION.

Totals

Total revenue
$535,102
Total expenses
$535,072
Contributions and grants received
$410,076
Grants paid
$0
Program service revenue
$123,021
Investment income
$7
Other revenue
$1,998
Total assets, end of year
$917,945
Total liabilities, end of year
$1,648,036
Net assets or fund balances, end of year
-$730,091
Program services expenses (Part IX)
$524,385
Management and general expenses
$10,687
Fundraising expenses
$0
Program service expenses (Part III)
$524,385

Program services were 98.0% 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.

  • 1f · All other contributions, gifts and grants

    $410,076

  • 2a · Program service revenue: RENTAL INCOME

    total $123,021 · related or exempt $123,021

  • 3 · Investment income

    total $7 · related or exempt $7

  • 11a · Other revenue: LAUNDRY & VENDING

    total $1,399 · related or exempt $1,399

  • 11b · Other revenue: MAINT. INCOME

    total $540 · related or exempt $540

  • 11c · Other revenue: REIMBURSED EXPENSES

    total $59 · related or exempt $59

  • 11e · Other revenue, total

    $1,998

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $109,620 · program services $109,620

  • 10 · Payroll taxes

    total $8,386 · program services $8,386

  • 11b · Fees: legal

    total $942 · program services $942

  • 11c · Fees: accounting

    total $26,950 · program services $26,950

  • 13 · Office expenses

    total $4,491 · program services $2,269 · management and general $2,222

  • 16 · Occupancy

    total $40,447 · program services $40,447

  • 20 · Interest

    total $67,448 · program services $67,210 · management and general $238

  • 22 · Depreciation, depletion and amortization

    total $68,096 · program services $68,096

  • 23 · Insurance

    total $1,045 · program services $1,045

  • 24a · Other expenses: REPAIRS

    total $121,555 · program services $121,555

  • 24b · Other expenses: PEST CONTROL

    total $24,304 · program services $24,304

  • 24c · Other expenses: PROPERTY TAXES

    total $15,129 · program services $15,129

  • 24d · Other expenses: CLEANING AND MAINTENANC

    total $12,758 · program services $7,300 · management and general $5,458

  • 24e · All other expenses

    total $33,901 · program services $31,132 · management and general $2,769

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $145,854 · end of year $128,003

  • 4 · Accounts receivable

    beginning of year $1,180 · end of year $2,838

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,828 · end of year $6,828

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

    $2,745,902

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

    $2,126,497

  • 10c · Land, buildings and equipment, net

    beginning of year $590,417 · end of year $619,405

  • 13 · Investments: program-related

    beginning of year $87,247 · end of year $55,530

  • 14 · Intangible assets

    beginning of year $18,281 · end of year $49,306

  • 15 · Other assets

    beginning of year $29,815 · end of year $56,035

  • 17 · Accounts payable and accrued expenses

    beginning of year $34,906 · end of year $53,200

  • 23 · Secured mortgages and notes payable

    beginning of year $1,623,956 · end of year $1,568,592

  • 25 · Other liabilities

    beginning of year $17,686 · end of year $26,244

  • 27 · Net assets without donor restrictions

    beginning of year -$796,926 · end of year -$730,091

Mission and programs · 2024

Mission

SALEM HOUSING DEVELPMENT CORPORATION IS A NOT-FOR-PROFIT CORPORATION THAT WAS FORMED MAY 15, 1981 UNDER THE NOT-FOR-PROFIT STATUES OF THE STATE OF NEBRASKA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 50 UNIT COMMUNITY KNOWN AS J.C. WADE SENIOR VILLA LOCATED IN OMAHA, NEBRASKA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS.

  • SALEM HOUSING DEVELPMENT CORPORATION IS A NOT-FOR-PROFIT CORPORATION THAT WAS FORMED MAY 15, 1981 UNDER THE NOT-FOR-PROFIT STATUES OF THE STATE OF NEBRASKA. THE CORPORATION WAS FORMED FOR THE PURPOSE OF OPERATING A 50 UNIT COMMUNITY KNOWN AS J.C. WADE SENIOR VILLA LOCATED IN OMAHA, NEBRASKA, WHICH PROVIDES HOUSING FOR LOW INCOME ELDERLY PERSONS.

    Expenses $524,385 · Revenue $125,026

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

Listed in Part VII

  • Mark Owsley

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • James Brewer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gary Walker

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Rhonda Hodge-Mason

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Jason Roberts

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Cameron Sessions

    ASST. SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Nancy Scurlock

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Braymond Adams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Lori Hill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Roosevelt Lee

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

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.

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.2
Source object
202533179349308098

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