Form 990 for tax year 2023
Filed by STEPHEN SMITH TOWERS APARTMENTS FOR THE ELDERLY INC.
Totals
- Total revenue
- $1,689,792
- Total expenses
- $1,788,587
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $1,689,451
- Investment income
- $341
- Other revenue
- $0
- Total assets, end of year
- $4,596,256
- Total liabilities, end of year
- $5,358,956
- Net assets or fund balances, end of year
- -$762,700
- Program services expenses (Part IX)
- $1,788,587
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,788,587
Program services were 100.0% 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 $524,790 · unrelated business $0 · excluded $0
-
2b · Program service revenue: FEES & CONTRACTS FROM GOVERNMENT AGENCIES
total $1,157,840 · unrelated business $0 · excluded $0
-
2c · Program service revenue: TENANT CHARGES
total $6,821 · unrelated business $0 · excluded $0
-
3 · Investment income
total $341 · unrelated business $0 · excluded $341
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $283,259 · program services $283,259 · management and general $0 · fundraising $0
-
9 · Other employee benefits
total $45,491 · program services $45,491 · management and general $0 · fundraising $0
-
10 · Payroll taxes
total $25,870 · program services $25,870 · management and general $0 · fundraising $0
-
11a · Fees: management
total $96,393 · program services $96,393 · management and general $0 · fundraising $0
-
11b · Fees: legal
total $4,021 · program services $4,021 · management and general $0 · fundraising $0
-
11c · Fees: accounting
total $22,500 · program services $22,500 · management and general $0 · fundraising $0
-
13 · Office expenses
total $40,301 · program services $40,301 · management and general $0 · fundraising $0
-
19 · Conferences, conventions and meetings
total $1,263 · program services $1,263 · management and general $0 · fundraising $0
-
20 · Interest
total $134,123 · program services $134,123 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $301,308 · program services $301,308 · management and general $0 · fundraising $0
-
23 · Insurance
total $122,570 · program services $122,570 · management and general $0 · fundraising $0
-
24a · Other expenses: CONTRACTS
total $281,149 · program services $281,149 · management and general $0 · fundraising $0
-
24b · Other expenses: UTILITIES
total $166,804 · program services $166,804 · management and general $0 · fundraising $0
-
24c · Other expenses: SECURITY CONTRACT
total $117,475 · program services $117,475 · management and general $0 · fundraising $0
-
24d · Other expenses: ELDERLY CARE EXPENSES
total $68,175 · program services $68,175 · management and general $0 · fundraising $0
-
24e · All other expenses
total $77,885 · program services $77,885 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $40,023 · end of year $121,653
-
4 · Accounts receivable
beginning of year $10,756 · end of year $4,038
-
9 · Prepaid expenses and deferred charges
beginning of year $45,239 · end of year $55,028
-
10a · Land, buildings and equipment: cost or other basis
$10,218,304
-
10b · Land, buildings and equipment: accumulated depreciation
$6,401,586
-
10c · Land, buildings and equipment, net
beginning of year $3,889,404 · end of year $3,816,718
-
15 · Other assets
beginning of year $695,758 · end of year $598,819
-
17 · Accounts payable and accrued expenses
beginning of year $478,762 · end of year $584,412
-
19 · Deferred revenue
beginning of year $28,690 · end of year $2,112
-
23 · Secured mortgages and notes payable
beginning of year $4,801,147 · end of year $4,735,632
-
25 · Other liabilities
beginning of year $36,486 · end of year $36,800
-
27 · Net assets without donor restrictions
beginning of year -$663,905 · end of year -$762,700
Mission and programs · 2023
Mission
TO PROVIDE LOW INCOME HOUSING TO THE ELDERLY AND/OR DISABLED
-
THE ORGANIZATION PROVIDES/SUBSIDIZES LOW-INCOME HOUSING FOR THE ELDERLY AND/OR DISABLED IN A 140 UNIT APARTMENT COMPLEX
Expenses $1,788,587 · Revenue $1,689,451
As filed on the 2023 return.
Listed in Part VII
-
PATRICIA SAWYER
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
LORENZO CRUGER
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
KATHLEEN WILLIAMS
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
CHARLES THOMAS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 7 August 2024
- IRS schema version
- 2023v5.1
- Source object
- 202412559349301261
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