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Nonprofiteer
← BROADWAY APARTMENTS INC

Form 990 for tax year 2022

Filed by BROADWAY APARTMENTS INC.

Totals

Total revenue
$106,215
Total expenses
$118,538
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$105,902
Investment income
$313
Other revenue
$0
Total assets, end of year
$318,777
Total liabilities, end of year
$322,973
Net assets or fund balances, end of year
-$4,196
Program services expenses (Part IX)
$99,159
Management and general expenses
$19,379
Fundraising expenses
$0
Program service expenses (Part III)
$99,159

Program services were 83.7% 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 $105,902 · related or exempt $105,902

  • 3 · Investment income

    total $313 · related or exempt $313

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $13,659 · management and general $13,659

  • 7 · Other salaries and wages

    total $7,930 · program services $7,930

  • 10 · Payroll taxes

    total $1,456 · management and general $1,456

  • 11b · Fees: legal

    total $406 · program services $406

  • 11c · Fees: accounting

    total $6,835 · program services $2,742 · management and general $4,093

  • 11g · Fees: other

    total $171 · management and general $171

  • 12 · Advertising and promotion

    total $75 · program services $75

  • 13 · Office expenses

    total $123 · program services $123

  • 16 · Occupancy

    total $60,387 · program services $60,387

  • 20 · Interest

    total $3,475 · program services $3,475

  • 22 · Depreciation, depletion and amortization

    total $12,988 · program services $12,988

  • 23 · Insurance

    total $11,033 · program services $11,033

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $23,543 · end of year $17,891

  • 4 · Accounts receivable

    end of year $504

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

    $593,254

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

    $329,229

  • 10c · Land, buildings and equipment, net

    beginning of year $277,013 · end of year $264,025

  • 15 · Other assets

    beginning of year $39,554 · end of year $36,357

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,723 · end of year $4,072

  • 23 · Secured mortgages and notes payable

    beginning of year $310,891 · end of year $299,830

  • 25 · Other liabilities

    beginning of year $18,369 · end of year $19,071

  • 27 · Net assets without donor restrictions

    beginning of year $8,127 · end of year -$4,196

Mission and programs · 2022

Mission

TO PROVIDE HOUSING FOR THE VERY LOW INCOME AND MENTALLY DISABLED.

Activities or mission (Part I)

BROADWAY APARTMENTS WAS FOUNDED TO PROVIDE HOUSING FOR PERSONS WITH DISABILITIES DUE TO MENTAL ILLNESS, LOW INCOME PERSONS, AND HOMELESS MEN AND WOMEN.

  • BROADWAY APARTMENTS PROVIDES HOUSING FOR VERY LOW INCOME RESIDENTS WHO HAVE BEEN HOMELESS AND WHO HAVE A MENTAL ILLNESS. BROADWAY HAS 19 RESIDENTS.

    Expenses $99,159 · Revenue $106,215

As filed on the 2022 return.

Listed in Part VII

  • Russell Thompson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 1 related

  • Will Reardon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 1 related

  • Chandra Doran

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.2 + 1 related

  • John Bloomfield

    EXECUTIVE DIRECTOR

    Total calculated
    $246,515
    From this org
    $13,659
    From related orgs
    $232,856
    Other
    $0
    Hours/week
    8 + 40 related

    Schedule J breakdown matched by us

    Base
    $13,659 + $222,956 related
    Bonus
    $0 + $9,900 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $13,659 + $232,856 related

  • Paul Van Gulick

    PRESIDENT/TREASURER

    Total calculated
    $0
    Hours/week
    0.2 + 1 related

  • Patricia Ray

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.2 + 1 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

  • 3 · Approval by the board or compensation committee

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.

  • NEWLIFE HOMES INC

    501(C)(3) · HOUSING FOR LOW INCOME AND DISABLED PEOPLE · NM

  • FOUNDATION FOR NEW LIFE HOMES

    501(C)(3) · HOUSING FOR LOW INCOME AND DISABLED PEOPLE · NM

  • NLH2

    501(C)(3) · HOUSING FOR LOW INCOME AND DISABLED PEOPLE · NM

  • NLH3

    501(C)(3) · HOUSING FOR LOW INCOME AND DISABLED PEOPLE · NM

  • NLH5

    501(C)(3) · HOUSING FOR LOW INCOME AND DISABLED PEOPLE · NM

  • NLH6

    501(C)(3) · HOUSING FOR LOW INCOME AND DISABLED PEOPLE · NM

  • NLH4

    501(C)(3) · HOUSING FOR LOW INCOME AND DISABLED PEOPLE · NM

    Directly controlled by NEWLIFE HOMES INC

Provenance

Return type
form_990
Tax year
2022
Filed
9 October 2023
IRS schema version
2022v5.0
Source object
202343129349301569

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