Form 990 for tax year 2022
Filed by AMERICAN HERITAGE APARTMENTS INC.
Totals
- Total revenue
- $3,472,705
- Total expenses
- $5,136,466
- Contributions and grants received
- $0
- Grants paid
- $44,713
- Program service revenue
- $1,790,009
- Investment income
- $1,338,092
- Other revenue
- $344,604
- Total assets, end of year
- $44,871,936
- Total liabilities, end of year
- $1,341,888
- Net assets or fund balances, end of year
- $43,530,048
- Program services expenses (Part IX)
- $4,078,586
- Management and general expenses
- $1,057,880
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $4,078,586
Program services were 79.4% 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: Management/Accounting Inc
total $7,948 · related or exempt $7,948
-
2b · Program service revenue: Tenant Utilities & Other
total $451,087 · related or exempt $451,087
-
2c · Program service revenue: Unit Rental Income
total $1,330,974 · related or exempt $1,330,974
-
3 · Investment income
total $1,051,139 · excluded $1,051,139
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
personal property $215,682
-
6c · Rental income or loss
personal property $215,682
-
6d · Net rental income or loss
total $215,682 · unrelated business $215,682
-
7a · Gross sales of assets other than inventory
securities $27,446,318 · other assets $520,166
-
7b · Less cost or other basis and sales expenses
securities $27,148,608 · other assets $530,923
-
7c · Gain or loss
securities $297,710 · other assets -$10,757
-
7d · Net gain or loss
total $286,953 · related or exempt -$10,757 · excluded $297,710
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: Miscellaneous Income
total $128,922 · related or exempt $128,922
-
11e · Other revenue, total
$128,922
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $44,713 · program services $44,713
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $868,122 · program services $572,961 · management and general $295,161
-
6 · Compensation of disqualified persons
total $145,873 · program services $96,276 · management and general $49,597
-
7 · Other salaries and wages
total $904,430 · program services $624,744 · management and general $279,686
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $152,939 · program services $105,500 · management and general $47,439
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $103,833 · management and general $103,833
-
11c · Fees: accounting
total $48,500 · management and general $48,500
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $32,120 · program services $970 · management and general $31,150
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $225,764 · program services $225,764
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $20,878 · program services $20,878
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $797,087 · program services $797,087
-
23 · Insurance
total $530,413 · program services $469,635 · management and general $60,778
-
24a · Other expenses: UTILITIES
total $746,728 · program services $728,178 · management and general $18,550
-
24b · Other expenses: Repairs and Maintenace
total $332,474 · program services $332,474
-
24c · Other expenses: Property Taxes
total $55,067 · program services $40,489 · management and general $14,578
-
24d · Other expenses: Miscellaneous
total $38,362 · management and general $38,362
-
24e · All other expenses
total $89,163 · program services $18,917 · management and general $70,246
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,103,010 · end of year $13,479,992
-
2 · Savings and temporary cash investments
beginning of year $15,452,743 · end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
beginning of year $46,297 · end of year $42,791
-
5 · Loans and receivables from officers and key people
beginning of year $1,035,256 · end of year $1,247,266
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
beginning of year $15,982,859 · end of year $15,641,303
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $88,995 · end of year $116,375
-
10a · Land, buildings and equipment: cost or other basis
$16,648,444
-
10b · Land, buildings and equipment: accumulated depreciation
$2,333,120
-
10c · Land, buildings and equipment, net
beginning of year $12,134,671 · end of year $14,315,324
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $26,364 · end of year $28,885
-
17 · Accounts payable and accrued expenses
beginning of year $257,883 · end of year $954,742
-
23 · Secured mortgages and notes payable
beginning of year $980,000
-
25 · Other liabilities
beginning of year $438,503 · end of year $387,146
-
27 · Net assets without donor restrictions
beginning of year $45,193,809 · end of year $43,530,048
Mission and programs · 2022
Mission
Quality affordable housing. We offer reduced rent to low and very low income individuals and families. We dedicate 35% of our units to this purpose. We receive no funding from outside sources to assist with this endeavor.
-
Quality affordable housing. We offer reduced rent to low and very low individuals and families. We dedicate 35% of our units to this purpose. We receive no funding from outside sources to assist with this endeaver.
Expenses $3,701,905 · Grants $44,713 · Revenue $1,918,931
-
The entity maintains other aircraft previously used in a flight school.
Expenses $196,381
-
The entity leases another aircraft to another entity.
Expenses $180,300
As filed on the 2022 return.
Listed in Part VII
-
Lonny D Weitzel
Vice President
- Total calculated
- $435,091
- From this org
- $435,091
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $430,991
- Bonus
- not reported
- Other
- $4,100
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $435,091
-
William D Weitzel
President
- Total calculated
- $358,366
- From this org
- $358,366
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $354,266
- Bonus
- not reported
- Other
- $4,100
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $358,366
-
Charlene Carter
Comptroller
- Total calculated
- $147,589
- From this org
- $147,589
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Brendon Peterson
Board Member
- Total calculated
- $74,665
- From this org
- $74,665
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
James Henry Fincher
Board Member
- Total calculated
- $0
- Hours/week
- 0
-
Kenneth Straw
Board Member
- 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. 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
-
Home Health Eduction Service
$17,704
-
$12,000
-
$10,000
-
Marietta New Hope SDA Church
$5,009
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
AHE - Country Club View Apartments LLC
Rental Properties · OK · income $1,704,393 · assets $9,127,557
Directly controlled by American Heritage Apartments Inc
-
AHE - Beacon Point LLC
Residual Investment from Sale of Rental Properties · AR · income $10,395 · assets $266,560
Directly controlled by American Heritage Apartments Inc
-
AHE - Chapel Ridge LLC
Residual Investment from Sale of Rental Properties · AR · income $28,195 · assets $905,362
Directly controlled by American Heritage Apartments Inc
-
AHE - Regency Apartments LLC
Residual Investment from Sale of Rental Properties · TX · income $28,195 · assets $905,362
Directly controlled by American Heritage Apartments Inc
-
AHE - Summerhill Woods LLC
Residual Investment from Sale of Rental Properties · TX · income $55,083 · assets $1,768,609
Directly controlled by American Heritage Apartments Inc
-
AHE - Timbercrest LLC
Residual Investment from Sale of Rental Properties · TX · income $55,083 · assets $1,768,609
Directly controlled by American Heritage Apartments Inc
-
Aircraft · DE
Directly controlled by American Heritage Apartments Inc
-
Aircraft · DE
Directly controlled by American Heritage Apartments Inc
-
Aircraft · DE · assets $198,413
Directly controlled by American Heritage Apartments Inc
-
Aircraft · DE · assets $49,404
Directly controlled by American Heritage Apartments Inc
-
Aircraft · DE · assets $484,220
Directly controlled by America Heritage Apartments Inc
-
Aircraft · DE · assets $382,225
Directly controlled by America Heritage Apartments Inc
-
Aircraft · DE · assets $2,507
Directly controlled by American Heritage Apartments Inc
-
Aircraft · DE · assets $32,839
Directly controlled by American Heritage Apartments Inc
-
Aircraft · DE · assets $204,500
Directly controlled by American Heritage Apartments Inc
-
Aircraft · DE · assets $23,183
Directly controlled by American Heritage Apartments Inc
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
AHE - Lakeshore Inc
C Corp · Residual Investment from Sale of Rental · GA · 100% owned · share of income $31,182 · share of assets $1,001,278 · controlled entity
Directly controlled by American Heritage Ap
-
AHE - Park Ridge Apartments Inc
C Corp · Residual Investment from Sale of Rental · TN · 100% owned · share of income $55,083 · share of assets $1,768,609 · controlled entity
Directly controlled by American Heritage Ap
-
AHE - Richmond Oaks Inc
C Corp · Residual Investment from Sale of Rental · TX · 100% owned · share of income $55,083 · share of assets $1,768,609 · controlled entity
Directly controlled by American Heritage Ap
-
AHE - Stratford Inc
C Corp · Residual Investment from Sale of Rental · TN · 100% owned · share of income $28,502 · share of assets $905,639 · controlled entity
Directly controlled by American Heritage Ap
-
AHA - Westwood Inc
C Corp · Residual Investment from Sale of Rental · TX · 100% owned · share of income $48,002 · share of assets $1,768,609 · controlled entity
Directly controlled by American Heritage Ap
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 8 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202421299349301477
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