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← COMMUNITY REINVESTMENT FOUNDATION- XVI INC

Form 990 for tax year 2022

Filed by COMMUNITY REINVESTMENT FOUNDATION- XVI INC.

Totals

Total revenue
$137,937
Total expenses
$194,785
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$137,925
Investment income
$12
Other revenue
$0
Total assets, end of year
$1,154,385
Total liabilities, end of year
$124,424
Net assets or fund balances, end of year
$1,029,961
Program services expenses (Part IX)
$194,785
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$194,785

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: AFFORDABLE HOUSING REN

    total $136,426 · related or exempt $136,426

  • 2b · Program service revenue: LAUNDRY AND VENDING

    total $1,207 · related or exempt $1,207

  • 2c · Program service revenue: TENANT CHARGES

    total $292 · related or exempt $292

  • 3 · Investment income

    total $12 · excluded $12

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $31,829 · program services $31,829

  • 9 · Other employee benefits

    total $5,724 · program services $5,724

  • 10 · Payroll taxes

    total $1,419 · program services $1,419

  • 11a · Fees: management

    total $12,996 · program services $12,996

  • 11c · Fees: accounting

    total $12,627 · program services $12,627

  • 12 · Advertising and promotion

    total $381 · program services $381

  • 13 · Office expenses

    total $7,658 · program services $7,658

  • 17 · Travel

    total $125 · program services $125

  • 20 · Interest

    total $14 · program services $14

  • 22 · Depreciation, depletion and amortization

    total $47,951 · program services $47,951

  • 23 · Insurance

    total $9,895 · program services $9,895

  • 24a · Other expenses: MAINT SUPPLIES & CONTRA

    total $40,750 · program services $40,750

  • 24b · Other expenses: UTILITIES

    total $16,842 · program services $16,842

  • 24c · Other expenses: REAL ESTATE TAXES

    total $3,350 · program services $3,350

  • 24d · Other expenses: SERVICE COORDINATOR

    total $1,244 · program services $1,244

  • 24e · All other expenses

    total $1,980 · program services $1,980

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,264 · end of year $990

  • 2 · Savings and temporary cash investments

    beginning of year $7,013 · end of year $6,014

  • 4 · Accounts receivable

    beginning of year $535 · end of year $1,537

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

    $1,698,839

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

    $674,636

  • 10c · Land, buildings and equipment, net

    beginning of year $1,072,154 · end of year $1,024,203

  • 15 · Other assets

    beginning of year $120,702 · end of year $121,641

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,835 · end of year $12,500

  • 19 · Deferred revenue

    beginning of year $1,900 · end of year $2,712

  • 25 · Other liabilities

    beginning of year $110,124 · end of year $109,212

  • 27 · Net assets without donor restrictions

    beginning of year -$637,391 · end of year -$694,239

  • 28 · Net assets with donor restrictions

    beginning of year $1,724,200 · end of year $1,724,200

Mission and programs · 2022

Mission

TO PROVIDE AFFORDABLE HOUSING FOR LOW INCOME ELDERLY PERSONS.

Activities or mission (Part I)

TO PROVIDE AFFORDABLE HOUSING FOR LOW INCOME SENIORS. OWNS AND OPERATES A 19 UNIT APARTMENT COMMUNITY IN MARION, INDIANA.

  • PROVIDED AFFORDABLE HOUSING TO LOW INCOME ELDERLY PERSONS. COMMUNITY REINVESTMENT FOUNDATION XVI, INC. OPERATES A 19 UNIT APARTMENT COMMUNITY LOCATED IN MARION, INDIANA. THE RENTS CHARGED TO LOW INCOME ELDERLY PERSONS ARE SUBSIDIZED AND REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT.

    Expenses $194,785 · Revenue $137,925

As filed on the 2022 return.

Listed in Part VII

  • DAVID COOPER

    PRESIDENT

    Total calculated
    $309,115
    From this org
    $0
    From related orgs
    $299,012
    Other
    $10,103
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $148,064 related
    Bonus
    $0 + $140,948 related
    Other
    $0 + $10,000 related
    Deferred
    $0 + $10,103 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $309,115 related

  • TIM SHROUT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • TIM PAINO

    SECRETARY AND TREASURER

    Total calculated
    $0
    Hours/week
    0

  • ADAM BOCIK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • WILLIAM TIBBETS

    DIRECTOR

    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

The filer's explanations (Part III)

PART I, LINE 3
ALL COMPENSATION FOR TOP MANAGEMENT POSITIONS, EXCLUSIVE OF THE PRESIDENT, IS PRESENTED TO THE BOARD OF DIRECTORS BY RECOMMENDATION OF THE PRESIDENT THROUGH THE ANNUAL BUDGETING PROCESS. COMPENSATION FOR THE PRESIDENT IS DETERMINED BY THE BOARD OF DIRECTORS AFTER CONSIDERATION OF COMPENSATION PAID BY COMPARABLE ORGANIZATIONS.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
12 July 2023
IRS schema version
2022v5.0
Source object
202321939349301522

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