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Nonprofiteer
← SOUTHEAST AFFORDABLE PRESERVATION INC

Form 990 for tax year 2024

Filed by SOUTHEAST AFFORDABLE PRESERVATION INC.

Totals

Total revenue
$29
Total expenses
$152,969
Contributions and grants received
$0
Grants paid
$0
Program service revenue
-$18
Investment income
$47
Other revenue
$0
Total assets, end of year
$1,667,138
Total liabilities, end of year
$3,585
Net assets or fund balances, end of year
$1,663,553
Program services expenses (Part IX)
$1,049
Management and general expenses
$151,920
Fundraising expenses
$0
Program service expenses (Part III)
$1,049

Program services were 0.7% 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: LOSSES FROM INVESTMENT

    total -$18 · related or exempt -$18

  • 3 · Investment income

    total $47 · excluded $47

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $11,040 · management and general $11,040

  • 13 · Office expenses

    total $44,880 · management and general $44,880

  • 24a · Other expenses: MISCELLANEOUS FINANCIAL

    total $96,000 · management and general $96,000

  • 24b · Other expenses: TAXES, LICENSES, AND FE

    total $1,049 · program services $1,049

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $22,217 · end of year $3,705

  • 13 · Investments: program-related

    beginning of year -$2,049 · end of year -$2,067

  • 15 · Other assets

    beginning of year $1,800,000 · end of year $1,665,500

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,675 · end of year $3,585

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,816,493 · end of year $1,663,553

Mission and programs · 2024

Mission

OUR MISSION IS TO CREATE SAFE, COMFORTABLE, HIGH-QUALITY HOMES THAT UPLIFT THE LIVES OF OUR RESIDENTS AND ENHANCE THE SURROUNDING NEIGHBORHOODS. WE FOCUS ON THE FINANCIAL AND ENVIRONMENTAL SUSTAINABILITY OF EACH OF OUR RESIDENTIAL COMMUNITIES, ALLOWING US TO BUILD COMFORTABLE, AFFORDABLE HOMES FOR THOSE WHO NEED IT MOST.

  • HOUSING - PROVIDED 312 UNITS OF SAFE AND AFFORDABLE HOUSING FOR LOW INCOME SENIOR CITIZENS.

    Expenses $1,049 · Revenue -$18

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DARRIN WILLARD

    PRESIDENT

    Total calculated
    $932,642
    From this org
    $0
    From related orgs
    $854,990
    Other
    $77,652
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $826,166 related
    Bonus
    $0
    Other
    $0 + $28,824 related
    Deferred
    $0 + $46,000 related
    Nontaxable benefits
    $0 + $31,652 related
    Filer's total
    $0 + $932,642 related

  • SHIGE ITOH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • MICHAEL BROWN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • RJ MILLER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 4 related

  • TARUN CHANDRAN

    VICE PRESIDENT AND SECRETA

    Total calculated
    $702,259
    From this org
    $0
    From related orgs
    $633,712
    Other
    $68,547
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $624,276 related
    Bonus
    $0
    Other
    $0 + $9,436 related
    Deferred
    $0 + $35,361 related
    Nontaxable benefits
    $0 + $33,186 related
    Filer's total
    $0 + $702,259 related

  • MELISSA VINCENT

    VICE PRESIDENT AND TREASUR

    Total calculated
    $499,375
    From this org
    $0
    From related orgs
    $431,919
    Other
    $67,456
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $423,555 related
    Bonus
    $0
    Other
    $0 + $8,364 related
    Deferred
    $0 + $33,517 related
    Nontaxable benefits
    $0 + $33,939 related
    Filer's total
    $0 + $499,375 related

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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.

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.

  • SAP FELLOWSHIP MANOR LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · OR

    Directly controlled by SOUTHEAST AFFORDABLE PRESERVATION INC

  • SAP GOLDEN LINK MANOR LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · OR

    Directly controlled by SOUTHEAST AFFORDABLE PRESERVATION INC

  • SAP IOOF TOWER LLC

    TO PROVIDE SAFE & AFFORDABLE HOUSING TO LOW INCOME FAMILIES & SENIORS · OR

    Directly controlled by SOUTHEAST AFFORDABLE PRESERVATION INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Provenance

Return type
form_990
Tax year
2024
Filed
14 October 2025
IRS schema version
2024v5.2
Source object
202522889349302007

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