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← VULTEE CHARITABLE FOUNDATION F/K/A NASHVILLE CHRISTIAN TOWERS

Form 990 for tax year 2022

Filed by VULTEE CHARITABLE FOUNDATION F/K/A NASHVILLE CHRISTIAN TOWERS.

Totals

Total revenue
$29,826,935
Total expenses
$38,134,402
Contributions and grants received
$0
Grants paid
$37,149,269
Program service revenue
$985,423
Investment income
$28,827,108
Other revenue
$14,404
Total assets, end of year
$0
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$0
Program services expenses (Part IX)
$37,888,997
Management and general expenses
$245,405
Fundraising expenses
$0
Program service expenses (Part III)
$37,888,997

Program services were 99.4% 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: HAP

    total $621,825 · related or exempt $621,825

  • 2b · Program service revenue: RESIDENTS

    total $347,170 · related or exempt $347,170

  • 2c · Program service revenue: APARTMENT/MISC

    total $15,300 · related or exempt $15,300

  • 2d · Program service revenue: MAINTENANCE FEE

    total $1,128 · related or exempt $1,128

  • 3 · Investment income

    total $380,863 · excluded $380,863

  • 7a · Gross sales of assets other than inventory

    other assets $32,500,000

  • 7b · Less cost or other basis and sales expenses

    other assets $4,053,755

  • 7c · Gain or loss

    other assets $28,446,245

  • 7d · Net gain or loss

    total $28,446,245 · excluded $28,446,245

  • 11a · Other revenue: VENDING INCOME - LAUNDRY

    total $6,954 · related or exempt $6,954

  • 11b · Other revenue: OTHER INCOME

    total $6,904 · related or exempt $6,904

  • 11c · Other revenue: COMCAST COMMISION

    total $546 · related or exempt $546

  • 11e · Other revenue, total

    $14,404

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $37,149,269 · program services $37,149,269

  • 5 · Compensation of officers, directors and key employees

    total $50,303 · program services $49,790 · management and general $513

  • 7 · Other salaries and wages

    total $251,792 · program services $210,423 · management and general $41,369

  • 9 · Other employee benefits

    total $17,894 · program services $14,954 · management and general $2,940

  • 10 · Payroll taxes

    total $22,793 · program services $19,048 · management and general $3,745

  • 11a · Fees: management

    total $131,203 · management and general $131,203

  • 11b · Fees: legal

    total $59,436 · program services $42,514 · management and general $16,922

  • 11c · Fees: accounting

    total $44,822 · management and general $44,822

  • 13 · Office expenses

    total $6,660 · program services $6,660

  • 16 · Occupancy

    total $168,395 · program services $166,710 · management and general $1,685

  • 22 · Depreciation, depletion and amortization

    total $60,626 · program services $60,009 · management and general $617

  • 24a · Other expenses: MAINTENANCE EXPENSE

    total $81,112 · program services $80,285 · management and general $827

  • 24b · Other expenses: BUILDING & GENERAL INSU

    total $38,833 · program services $38,436 · management and general $397

  • 24c · Other expenses: MAINTENANCE CONTRACTS

    total $35,790 · program services $35,425 · management and general $365

  • 24d · Other expenses: RESIDENT ACTIVITIES

    total $5,595 · program services $5,595

  • 24e · All other expenses

    total $9,879 · program services $9,879

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,257 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $2,532,610 · end of year $0

  • 3 · Pledges and grants receivable

    end of year $0

  • 4 · Accounts receivable

    beginning of year $808 · end of year $0

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 7 · Other notes and loans receivable

    end of year $0

  • 8 · Inventories for sale or use

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $24,682 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $3,458,159 · end of year $0

  • 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 $60,777 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $67,596 · end of year $0

  • 25 · Other liabilities

    beginning of year $77,916 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $5,932,781 · end of year $0

Mission and programs · 2022

Mission

PROVIDING HOUSING TO THE ELDERLY AND DISABLED WITH LOW INCOME.

Activities or mission (Part I)

RENTAL OF LOW INCOME HOUSING TO ELDERLY OR DISABLED

  • RENTAL OF LOW INCOME HOUSING TO ELDERLY AND DISABLED-175 TOTAL RESIDENT UNITS OCCUPIED BY RESIDENTS ELIGIBLE FOR FEDERAL HOUSING ASSISTANCE PAYMENT (HAP) - 1 UNIT OCCUPIED BY RESIDENT NOT ELIGIBLE FOR HAP

    Expenses $739,728 · Revenue $999,827

  • DONATION OF FUNDS IN SUPPORT OF A VARIETY OF NONPROFIT ORGNAIZATIONS THAT ALIGN WITH THE MISSION AND CONTINURE TO CARRY OUT THE LEGACY OF THE FORMER VULTEE CHURCH OF CHRIST.

    Expenses $37,149,269 · Grants $37,149,269

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • R Perry Burch

    PRES & DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Roy Burch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Olivia Gordan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tim Barton

    EXECUTIVE DIRECTOR/DIRECTO

    Total calculated
    $50,303
    From this org
    $47,633
    From related orgs
    $0
    Other
    $2,670
    Hours/week
    40

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

The 10 largest by cash amount. The API serves every itemized grant.

Assets distributed on this return

Schedule N, as filed: what the organization did with its assets when it liquidated or dissolved, or disposed of more than a quarter of them, and who received them. A recipient with an EIN is usually a successor organization; filers also list expenses such as legal fees here.

  • THE SIGNATRY

    $35,941,642

    Liquidation · CASH - $355,883MARKETABLE SECURITIES - $35,785,759 · Jun 29, 2023 · 501(C)(3)

Provenance

Return type
form_990
Tax year
2022
Filed
5 February 2024
IRS schema version
2022v5.0
Source object
202410379349300311

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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