Qls Acres Inc

Organization Overview

Qls Acres Inc is located in Atlanta, GA. The organization was established in 1997. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Qls Acres Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Qls Acres 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 12/2023, Qls Acres Inc generated -$106.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.2%) each year.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE 94 AFFORDABLE HOUSING UNITS FOR THE ELDERLY IN ATLANTA, GA.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION PROVIDES HOUSING TO THE ELDERLY THROUGH HUD'S 202 PROGRAMS. GRANTS FUNDS RECEIVED ARE WERE TO CONSTRUCT THE FACILITY TO MEET THE ELDERLY'S NEEDS. THE COSTS ARE CAPITALIZED.


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Board, Officers & Key Employees

Name (title)Compensation
Ms Dana Newman
Secretary
$0
Emma J Fountain
President
$0
Delores H Hampton
Vice President
$0
Charles A Lingo
Treasurer
$0
Mr Adeyemi Toure
Member
$0
Mr Frank Jones
Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $24,866
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$24,866
Total Program Service Revenue$0
Investment income $7
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$131,607
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 -$106,734

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