Golden Rule Apartments Inc
- Assets
- $9.9m
- Revenue
- $266.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 07/1971
- Data as of
- 04/2022
- EIN
- 23-7121105
Organization Overview
Golden Rule Apartments Inc is located in Washington, DC. The organization was established in 1971. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Golden Rule Apartments Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 04/2022, Golden Rule Apartments Inc generated $266.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.3%) each year. All expenses for the organization totaled $17.1k during the year ending 04/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SERVICES FOR DEVELOPMENT OF HOUSING FOR LOW AND MODERATE INCOME FAMILIES, FAMILIES DISPLACED FROM URBAN RENEWAL AREAS AND OTHER POOR AND UNDERPRIVILEGED PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO DEVELOP OR CONSTRUCT DWELLING UNITS FOR LOW-INCOME TENANTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alicia J Terry ESQ Vice President | 0.01 | $0 | |
Ronald Lipford President | 0.01 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $266,327 |
| Total Revenue | $266,327 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,577 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $32 |
| Total operating and administrative expenses | $17,125 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $17,125 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,545,370 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $6,559,801 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $827,251 |
| Total assets | $9,932,422 |
| Accounts payable and accrued expenses | $10,815 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $14,820 |
| Total liabilities | $25,635 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redwood Housing Inc North Bethesda, MD | $20,814,666 | $9,748,902 |
Habitat For Humanity Of The Chesapeake Inc Baltimore, MD | $24,324,066 | $8,169,233 |
Our Lady Of Peace Inc Roanoke, VA | $13,777,109 | $11,564,075 |
Chisom Housing Group Washington, DC | $40,133,226 | $15,487,472 |
Habitat For Humanity International Inc Newport News, VA | $9,861,358 | $8,052,076 |
Wesley Housing Development Corporation Of Northern Virginia Alexandria, VA | $44,230,535 | $12,100,793 |
Chemung View Housing Inc North Bethesda, MD | $48,659,010 | $8,326,428 |
Habitat For Humanity International Inc Richmond, VA | $16,536,878 | $11,681,455 |
Habitat For Humanity International Inc Silver Spring, MD | $5,733,841 | $7,602,541 |
Habitat For Humanity International Inc Salisbury, MD | $3,867,227 | $5,868,087 |
District Alliance For Safe Housing Inc Washington, DC | $11,315,655 | $5,174,031 |
Arlington Partnership For Affordable Housing Inc Arlington, VA | $108,361,619 | $16,360,887 |