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Nonprofiteer
← OPTIONS FOR AFFORDABLE HOUSING

Form 990 for tax year 2022

Filed by OPTIONS FOR AFFORDABLE HOUSING.

Totals

Total revenue
$73,655
Total expenses
$153,454
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$143,956
Investment income
-$72,475
Other revenue
$2,174
Total assets, end of year
$1,523,211
Total liabilities, end of year
$685,543
Net assets or fund balances, end of year
$837,668
Program services expenses (Part IX)
$140,460
Management and general expenses
$12,994
Fundraising expenses
$0
Program service expenses (Part III)
$140,460

Program services were 91.5% 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: Contract Income

    total $143,956 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    other assets $16,584

  • 7b · Less cost or other basis and sales expenses

    other assets $89,059

  • 7c · Gain or loss

    other assets -$72,475

  • 7d · Net gain or loss

    total -$72,475 · related or exempt -$72,475 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Other Income

    total $2,174 · related or exempt $0 · unrelated business $2,174 · excluded $0

  • 11e · Other revenue, total

    $2,174

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $12,994 · program services $0 · management and general $12,994 · fundraising $0

  • 20 · Interest

    total $1,169 · program services $1,169 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $42,216 · program services $42,216 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $37,188 · program services $37,188 · management and general $0 · fundraising $0

  • 24a · Other expenses: Supportive Services

    total $36,000 · program services $36,000 · management and general $0 · fundraising $0

  • 24b · Other expenses: Supplies

    total $531 · program services $531 · management and general $0 · fundraising $0

  • 24c · Other expenses: Repairs & Maintenance

    total $16,011 · program services $16,011 · management and general $0 · fundraising $0

  • 24d · Other expenses: Utilities

    total $3,620 · program services $3,620 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $3,725 · program services $3,725 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $63,980 · end of year $30,318

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,214 · end of year $18,215

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

    $1,787,999

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

    $313,321

  • 10c · Land, buildings and equipment, net

    beginning of year $1,605,954 · end of year $1,474,678

  • 17 · Accounts payable and accrued expenses

    beginning of year $48,132 · end of year $347

  • 22 · Loans and payables to officers and key people

    beginning of year $9,571 · end of year $34,410

  • 23 · Secured mortgages and notes payable

    beginning of year $712,061 · end of year $649,869

  • 25 · Other liabilities

    beginning of year $917 · end of year $917

  • 27 · Net assets without donor restrictions

    beginning of year $917,467 · end of year $837,668

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

To provide affordable housing to low and moderate income persons.

  • Provides single family residences that are affordable to low and moderate income persons locally. The organization solicts community input, designs appropriate housing units, applies for funding, constructs units and operates and manage the units per funding guidelines.

    Expenses $140,460 · Revenue $143,956

As filed on the 2022 return.

Listed in Part VII

  • Roosevelt Thomas

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Steven Crispino

    Member

    Total calculated
    $0
    Hours/week
    1

  • Michael LaRussa

    Member

    Total calculated
    $0
    Hours/week
    1

  • CKirby Verret

    Member

    Total calculated
    $0
    Hours/week
    1

  • Sandra Williams

    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
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202401369349301325

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