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Nonprofiteer
← PHILIPS TOWER DECATUR INC

Form 990 for tax year 2023

Filed by PHILIPS TOWER DECATUR INC.

Totals

Total revenue
$3,294,518
Total expenses
$2,637,708
Contributions and grants received
$1,117
Grants paid
$0
Program service revenue
$3,110,125
Investment income
$40,161
Other revenue
$143,115
Total assets, end of year
$5,031,196
Total liabilities, end of year
$1,431,696
Net assets or fund balances, end of year
$3,599,500
Program services expenses (Part IX)
$1,881,718
Management and general expenses
$755,990
Fundraising expenses
$0
Program service expenses (Part III)
$1,881,718

Program services were 71.3% 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

    $1,117

  • 2a · Program service revenue: ROOM AND BOARD

    total $3,110,125 · related or exempt $3,110,125

  • 3 · Investment income

    total $40,161 · excluded $40,161

  • 11a · Other revenue: CABLE AND BROADBAND

    total $92,830 · excluded $92,830

  • 11b · Other revenue: REIMBURSEMENTS

    total $35,287 · excluded $35,287

  • 11c · Other revenue: LAUNDRY AND VENDING

    total $14,998 · excluded $14,998

  • 11e · Other revenue, total

    $143,115

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $68,462 · program services $42,467 · management and general $25,995

  • 7 · Other salaries and wages

    total $556,477 · program services $345,183 · management and general $211,294

  • 9 · Other employee benefits

    total $55,435 · program services $34,386 · management and general $21,049

  • 10 · Payroll taxes

    total $37,510 · program services $23,267 · management and general $14,243

  • 11a · Fees: management

    total $245,337 · management and general $245,337

  • 11b · Fees: legal

    total $6,665 · management and general $6,665

  • 11c · Fees: accounting

    total $18,800 · management and general $18,800

  • 11g · Fees: other

    total $292,771 · program services $292,771

  • 12 · Advertising and promotion

    total $7,679 · management and general $7,679

  • 13 · Office expenses

    total $85,188 · management and general $85,188

  • 16 · Occupancy

    total $359,998 · program services $346,872 · management and general $13,126

  • 19 · Conferences, conventions and meetings

    total $948 · management and general $948

  • 20 · Interest

    total $48,871 · program services $48,871

  • 22 · Depreciation, depletion and amortization

    total $216,248 · program services $216,248

  • 23 · Insurance

    total $135,660 · program services $135,660

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $303,174 · program services $303,174

  • 24b · Other expenses: SUPPLIES

    total $92,819 · program services $92,819

  • 24c · Other expenses: TELEPHONE

    total $48,511 · management and general $48,511

  • 24d · Other expenses: BAD DEBTS

    total $32,928 · management and general $32,928

  • 24e · All other expenses

    total $24,227 · management and general $24,227

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,649,858 · end of year $3,304,944

  • 4 · Accounts receivable

    beginning of year $39,981 · end of year $26,439

  • 9 · Prepaid expenses and deferred charges

    beginning of year $32,555 · end of year $32,662

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

    $10,490,888

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

    $8,948,843

  • 10c · Land, buildings and equipment, net

    beginning of year $1,531,555 · end of year $1,542,045

  • 15 · Other assets

    beginning of year $91,298 · end of year $125,106

  • 17 · Accounts payable and accrued expenses

    beginning of year $84,992 · end of year $98,392

  • 23 · Secured mortgages and notes payable

    beginning of year $1,149,464 · end of year $1,081,217

  • 25 · Other liabilities

    beginning of year $168,101 · end of year $252,087

  • 27 · Net assets without donor restrictions

    beginning of year $2,942,690 · end of year $3,599,500

Mission and programs · 2023

Mission

PHILIPS TOWER IS A CHRISTIAN MINISTRY PROVIDING EXCEPTIONAL SERVICES TO ENHANCE THE QUALITY OF LIFE FOR SENIOR ADULTS.

Activities or mission (Part I)

PHILIPS TOWER PROVIDES AFFORDABLE RESIDENTIAL HOUSING TO LOW INCOME SENIOR ADULTS.

  • ALL EXPENSES INCURRED ARE FOR PROVIDING HOUSING FOR THE ELDERLY. THE CORPORATION OPERATES AND OWNS PHILIP TOWER, A H.U.D. APARTMENT BUILDING IN DECATUR THAT PROVIDES LOW INCOME AFFORDABLE RESIDENTIAL HOUSING FOR SENIORS.

    Expenses $1,881,718 · Revenue $3,110,125

As filed on the 2023 return.

Listed in Part VII

  • Alex Patterson

    PRESIDENT/CEO

    Total calculated
    $435,659
    From this org
    $0
    From related orgs
    $380,805
    Other
    $54,854
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $380,805 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $12,066 related
    Nontaxable benefits
    $0 + $42,788 related
    Filer's total
    $0 + $435,659 related

  • Rev Tony Sundermeier

    CHAIR

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • Jack Benedict

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • Lativia Alston

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • C Duncan Beard

    SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • Marion Glover

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • Thomas E Jones Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • Robert H Neel

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • S Mark Roberson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • Davis C Stewart

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • James H Morgan Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1 + 8 related

  • Dianne Arrendale

    CFO

    Total calculated
    $173,797
    From this org
    $0
    From related orgs
    $155,526
    Other
    $18,271
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $155,526 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $7,150 related
    Nontaxable benefits
    $0 + $11,121 related
    Filer's total
    $0 + $173,797 related

  • Gwen Hardy

    COO

    Total calculated
    $105,640
    From this org
    $0
    From related orgs
    $104,152
    Other
    $1,488
    Hours/week
    1 + 40 related

  • Stacy Bannworth

    ADMINISTRATOR

    Total calculated
    $68,461
    From this org
    $59,460
    From related orgs
    $0
    Other
    $9,001
    Hours/week
    40

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

None.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202413189349310021

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