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Nonprofiteer
← EVERGREEN TERRACE INC

Form 990 for tax year 2024

Filed by EVERGREEN TERRACE INC.

Totals

Total revenue
$411,455
Total expenses
$407,274
Contributions and grants received
$132,565
Grants paid
$0
Program service revenue
$272,767
Investment income
$1,503
Other revenue
$4,620
Total assets, end of year
$1,367,661
Total liabilities, end of year
$3,269,948
Net assets or fund balances, end of year
-$1,902,287
Program services expenses (Part IX)
$291,690
Management and general expenses
$115,584
Fundraising expenses
$0
Program service expenses (Part III)
$291,690

Program services were 71.6% 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)

    $132,565

  • 2a · Program service revenue: RENTAL INCOME

    total $272,767 · related or exempt $272,767

  • 3 · Investment income

    total $1,503 · excluded $1,503

  • 11a · Other revenue: LAUNDRY AND VENDING

    total $2,133 · excluded $2,133

  • 11b · Other revenue: TENANT CHARGES

    total $1,449 · excluded $1,449

  • 11c · Other revenue: OTHER MISC REVENUE

    total $1,038 · excluded $1,038

  • 11e · Other revenue, total

    $4,620

Functional expenses

Part IX, the statement of functional expenses.

  • 11a · Fees: management

    total $42,128 · management and general $42,128

  • 11b · Fees: legal

    total $155 · management and general $155

  • 11c · Fees: accounting

    total $7,565 · management and general $7,565

  • 12 · Advertising and promotion

    total $590 · management and general $590

  • 13 · Office expenses

    total $22,042 · management and general $22,042

  • 16 · Occupancy

    total $183,993 · program services $183,993

  • 22 · Depreciation, depletion and amortization

    total $95,380 · program services $95,380

  • 24a · Other expenses: MANAGEMENT CO EMPLOYEE

    total $53,523 · program services $12,317 · management and general $41,206

  • 24b · Other expenses: BAD DEBTS

    total $1,898 · management and general $1,898

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $33,463 · end of year $8,995

  • 4 · Accounts receivable

    beginning of year $5,832 · end of year $3,428

  • 9 · Prepaid expenses and deferred charges

    beginning of year $8,086 · end of year $8,086

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

    $3,796,311

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

    $2,540,326

  • 10c · Land, buildings and equipment, net

    beginning of year $1,194,971 · end of year $1,255,985

  • 13 · Investments: program-related

    beginning of year $83,977 · end of year $53,086

  • 15 · Other assets

    beginning of year $30,730 · end of year $38,081

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,023 · end of year $12,153

  • 19 · Deferred revenue

    beginning of year $2,744 · end of year $7,014

  • 23 · Secured mortgages and notes payable

    end of year $3,228,600

  • 25 · Other liabilities

    beginning of year $3,248,760 · end of year $22,181

  • 27 · Net assets without donor restrictions

    beginning of year -$1,906,468 · end of year -$1,902,287

Mission and programs · 2024

Mission

HOUSING FOR LOW INCOME ELDERLY

  • EXPENSES INCURRED TO OPERATE A 55 UNIT APARMENT COMPLEX FOR THE ELDERLY, FINANCED BY CAPITAL ADVANCES INSURED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) UNDER SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED. TENANT RENT IS SUBSIDIZED BY SECTION 202 PRAC ASSISTANCE. PRAC IS SUBSIDIES PROVIDED TO ELIGIBLE RESIDENTS BY HUD TO ENABLE SUCH RESIDENTS TO LIVE IN SAFE, ADEQUATE HOUSING FACILITIES THEY COULD NOT OTHERWISE AFFORD.

    Expenses $291,690 · Revenue $272,767

As filed on the 2024 return.

Listed in Part VII

  • Mark Wetz

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jeanie Hohenstein

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Amy Bloch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Matt Scott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Fr Brad Pelzel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Barb Redmond

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

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
18 November 2025
IRS schema version
2024v5.2
Source object
202523229349302277

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