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Nonprofiteer
← LAURELWOOD SENIOR HOUSING CORPORATION

Form 990 for tax year 2023

Filed by LAURELWOOD SENIOR HOUSING CORPORATION.

Totals

Total revenue
$444,719
Total expenses
$389,116
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$435,418
Investment income
$4,606
Other revenue
$4,695
Total assets, end of year
$1,119,036
Total liabilities, end of year
$289,577
Net assets or fund balances, end of year
$829,459
Program services expenses (Part IX)
$346,307
Management and general expenses
$42,809
Fundraising expenses
$0
Program service expenses (Part III)
$346,307

Program services were 89.0% 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 $435,418 · related or exempt $435,418

  • 3 · Investment income

    total $4,606 · excluded $4,606

  • 11a · Other revenue: TENANT CHARGES

    total $3,060 · related or exempt $3,060

  • 11b · Other revenue: LAUNDRY AND VENDING RE

    total $1,635 · related or exempt $1,635

  • 11e · Other revenue, total

    $4,695

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $87,157 · program services $87,157

  • 9 · Other employee benefits

    total $8,218 · program services $8,218

  • 11a · Fees: management

    total $30,536 · management and general $30,536

  • 11c · Fees: accounting

    total $11,462 · management and general $11,462

  • 13 · Office expenses

    total $44,634 · program services $44,634

  • 14 · Information technology

    total $3,168 · program services $3,168

  • 16 · Occupancy

    total $129,345 · program services $129,345

  • 17 · Travel

    total $1,815 · program services $1,815

  • 19 · Conferences, conventions and meetings

    total $811 · management and general $811

  • 22 · Depreciation, depletion and amortization

    total $34,896 · program services $34,896

  • 23 · Insurance

    total $36,975 · program services $36,975

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $99 · program services $99

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,700 · end of year $54,765

  • 4 · Accounts receivable

    beginning of year $45 · end of year $2,410

  • 9 · Prepaid expenses and deferred charges

    beginning of year $50,079 · end of year $21,209

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

    $1,281,529

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

    $378,136

  • 10c · Land, buildings and equipment, net

    beginning of year $934,967 · end of year $903,393

  • 15 · Other assets

    beginning of year $134,356 · end of year $137,259

  • 17 · Accounts payable and accrued expenses

    beginning of year $40,875 · end of year $39,455

  • 23 · Secured mortgages and notes payable

    beginning of year $307,416 · end of year $250,122

  • 27 · Net assets without donor restrictions

    beginning of year $773,856 · end of year $829,459

Mission and programs · 2023

Mission

THE ORGANIZATION PROVIDES AFFORDABLE HOUSING TO LOW AND MODERATE INCOME, ELDERLY, AND/OR DISABLED INDIVIDUALS.

  • THE ORGANIZATION PROVIDES AFFORDABLE HOUSING TO LOW AND MODERATE INCOME, ELDERLY, AND/OR DISABLED INDIVIDUALS. THE ORGANIZATION OPERATES A 65 UNIT APARTMENT COMPLEX IN MORRISTOWN, TN.

    Expenses $346,307 · Revenue $440,113

As filed on the 2023 return.

Listed in Part VII

  • Douglass Smith

    DIRECTOR/PRESIDENT

    Total calculated
    $537,232
    From this org
    $0
    From related orgs
    $501,023
    Other
    $36,209
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $501,023 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $13,200 related
    Nontaxable benefits
    $0 + $23,009 related
    Filer's total
    $0 + $537,232 related

  • Jim Ridenour

    DIRECTOR/CHAIRMAN

    Total calculated
    $143,500
    From this org
    $0
    From related orgs
    $143,500
    Other
    $0
    Hours/week
    0.1 + 11.9 related

  • Jo Ann Corbitt

    DIRECTOR

    Total calculated
    $92,650
    From this org
    $0
    From related orgs
    $92,650
    Other
    $0
    Hours/week
    0.1 + 6.9 related

  • John G Foos

    DIRECTOR

    Total calculated
    $81,000
    From this org
    $0
    From related orgs
    $81,000
    Other
    $0
    Hours/week
    0.1 + 6.9 related

  • Stephen F Wood Jr

    DIRECTOR

    Total calculated
    $78,500
    From this org
    $0
    From related orgs
    $78,500
    Other
    $0
    Hours/week
    0.1 + 6.9 related

  • Laura Hawken

    DIRECTOR

    Total calculated
    $67,250
    From this org
    $0
    From related orgs
    $67,250
    Other
    $0
    Hours/week
    0.1 + 6.9 related

  • Chris Hodges

    DIRECTOR

    Total calculated
    $60,000
    From this org
    $0
    From related orgs
    $60,000
    Other
    $0
    Hours/week
    0.2 + 6.8 related

  • Andrea Barach

    VP AND CORPORATE SECRETARY

    Total calculated
    $311,096
    From this org
    $0
    From related orgs
    $288,175
    Other
    $22,921
    Hours/week
    0.5 + 39.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $288,175 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $11,317 related
    Nontaxable benefits
    $0 + $11,604 related
    Filer's total
    $0 + $311,096 related

  • Christopher Louder

    VP FINANCE

    Total calculated
    $248,144
    From this org
    $0
    From related orgs
    $210,918
    Other
    $37,226
    Hours/week
    0.1 + 39.9 related

    Schedule J breakdown matched by us

    Base
    $0 + $210,918 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $9,050 related
    Nontaxable benefits
    $0 + $28,176 related
    Filer's total
    $0 + $248,144 related

  • Stephen F Wood Sr

    FORMER DIRECTOR

    Total calculated
    $52,500
    From this org
    $0
    From related orgs
    $52,500
    Other
    $0
    Hours/week
    0 + 2 related

    Schedule J breakdown matched by us

    Base
    $0 + $52,500 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $52,500 related

  • John E Gillmor

    FORMER DIRECTOR

    Total calculated
    $28,800
    From this org
    $0
    From related orgs
    $28,800
    Other
    $0
    Hours/week
    0 + 2 related

    Schedule J breakdown matched by us

    Base
    $0 + $28,800 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $28,800 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

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

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • GATE MANOR HOUSING GP LLC

    C · AFFORDABLE HOUSING PROJECTS · TN

  • KNOXVILLE HOUSING PORTFOLIO GP LLC

    C · AFFORDABLE HOUSING PROJECTS · TN

  • JACKSON HOUSING PORTFOLIO GP LLC

    C · AFFORDABLE HOUSING PROJECTS · TN

Provenance

Return type
form_990
Tax year
2023
Filed
11 November 2024
IRS schema version
2023v5.1
Source object
202423189349308182

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