Fairhaven Apartments Inc
- Assets
- $1.2m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 4
- Location
- Lawrenceburg, IN
- Founding
- 12/1977
- Data as of
- 12/2021
- EIN
- 23-7333862
Organization Overview
Fairhaven Apartments Inc is located in Lawrenceburg, IN. The organization was established in 1977. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Fairhaven Apartments Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairhaven Apartments Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Fairhaven Apartments Inc generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 25.8% each year . All expenses for the organization totaled $278.5k during the year ending 12/2021. While expenses have increased by 3.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE RENTAL HOUSING ARRANGEMENTS FOR LOW INCOME SENIOR CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MANAGEMENT AND OPERATION OF 65 APARTMENTS FOR ELIGIBLE LOW INCOME ELDERLY PERSONS IN AND AROUND LAWRENCEBURG, INDIANA.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Butch Flaspohler Treasurer | Trustee | 10 | $15,600 |
Charles F Mcnimery Vice President | Officer | 2 | $0 |
Gerald L King President | Officer | 2 | $0 |
John Kime Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $819,502 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,679 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $852,181 |
| Total Program Service Revenue | $230,038 |
| Investment income | $75 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,082,294 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $15,600 |
| Compensation of current officers, directors, key employees. | $1,560 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,121 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,791 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,255 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $668 |
| Office expenses | $10,613 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $23,569 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,913 |
| Insurance | $17,328 |
| All other expenses | $0 |
| Total functional expenses | $278,524 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $225,145 |
| Savings and temporary cash investments | $59,905 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $605 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $286,553 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $618,515 |
| Total assets | $1,190,723 |
| Accounts payable and accrued expenses | $24,583 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $168,419 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $49,674 |
| Total liabilities | $242,676 |
| Net assets without donor restrictions | $948,047 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,190,723 |
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