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Nonprofiteer
← GOLDEN GLOW TOWER INC

Form 990 for tax year 2024

Filed by GOLDEN GLOW TOWER INC.

Totals

Total revenue
$727,284
Total expenses
$986,651
Contributions and grants received
$44,000
Grants paid
$0
Program service revenue
$666,702
Investment income
$16,582
Other revenue
$0
Total assets, end of year
$4,628,351
Total liabilities, end of year
$4,891,856
Net assets or fund balances, end of year
-$263,505
Program services expenses (Part IX)
$950,091
Management and general expenses
$36,560
Fundraising expenses
$0
Program service expenses (Part III)
$950,091

Program services were 96.3% 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

    $44,000

  • 2a · Program service revenue: PROGRAM RENTS

    total $666,702 · related or exempt $666,702

  • 3 · Investment income

    total $16,582 · excluded $16,582

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $84,294 · program services $52,309 · management and general $31,985

  • 9 · Other employee benefits

    total $5,091 · program services $2,503 · management and general $2,588

  • 10 · Payroll taxes

    total $7,024 · program services $5,037 · management and general $1,987

  • 11b · Fees: legal

    total $20 · program services $20

  • 11c · Fees: accounting

    total $3,941 · program services $3,941

  • 11g · Fees: other

    total $136,600 · program services $136,600

  • 12 · Advertising and promotion

    total $1,372 · program services $1,372

  • 13 · Office expenses

    total $5,606 · program services $5,606

  • 14 · Information technology

    total $1,522 · program services $1,522

  • 16 · Occupancy

    total $172,761 · program services $172,761

  • 17 · Travel

    total $376 · program services $376

  • 19 · Conferences, conventions and meetings

    total $107 · program services $107

  • 20 · Interest

    total $314,707 · program services $314,707

  • 22 · Depreciation, depletion and amortization

    total $227,549 · program services $227,549

  • 23 · Insurance

    total $10,519 · program services $10,519

  • 24a · Other expenses: BANK AND LOAN FEES

    total $15,162 · program services $15,162

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $201,969

  • 9 · Prepaid expenses and deferred charges

    end of year $110,940

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

    $4,540,062

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

    $233,449

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $4,306,613

  • 15 · Other assets

    beginning of year $0 · end of year $8,829

  • 23 · Secured mortgages and notes payable

    end of year $4,881,556

  • 25 · Other liabilities

    beginning of year $0 · end of year $10,300

  • 27 · Net assets without donor restrictions

    end of year -$267,505

  • 28 · Net assets with donor restrictions

    end of year $4,000

Mission and programs · 2024

Mission

PRESERVE AFFORDABLE HOUSING WHILE PROVIDING EMPOWERING SERVICES THAT LEAD TO GREATER FLOURISHING.

  • AFFORDABLE HOUSING DEVELOPMENT: DEVELOPING AFFORDABLE HOUSING THROUGH INNOVATIVE CONSTRUCTION AND FINANCING PROCESSES.

    Expenses $950,091 · Revenue $666,702

As filed on the 2024 return.

Listed in Part VII

  • Jerry Brady

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Meggan Manlove

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Laura Rideout

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Bart Cochran

    CEO

    Total calculated
    $73,205
    From this org
    $0
    From related orgs
    $73,205
    Other
    $0
    Hours/week
    40

  • Brian Woodward

    COO

    Total calculated
    $121,612
    From this org
    $0
    From related orgs
    $115,078
    Other
    $6,534
    Hours/week
    40

  • Jessica Boggs

    BOARD 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
2024
Filed
2 September 2026
IRS schema version
2024v5.5
Source object
202632539349301238

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