Greenwood Apts Inc
- Assets
- $2.0m
- Revenue
- $963.6k
- Investments
- $0.0
- Employees
- 8
- Location
- Mason, OH
- Founding
- 12/1974
- Data as of
- 12/2023
- EIN
- 35-1166805
Organization Overview
Greenwood Apts Inc is located in Mason, OH. The organization was established in 1974. 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. As of 12/2023, Greenwood Apts Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenwood Apts 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, Greenwood Apts Inc generated $963.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $1.0m during the year ending 12/2023. While expenses have increased by 2.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MAINTAINING AND OPERATING A ONE HUNDRED UNIT HOUSING PROJECT FOR LOW-INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINING AND OPERATING A ONE HUNDRED UNIT APARTMENT COMMUNITY (GREENWOOD APARTMENTS), PROVIDING MULTI-FAMILY HOUSING FOR LOW-INCOME PERSONS, LOCATED IN RICHMOND, INDIANA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mona Mayberry President | OfficerTrustee | 1 | $0 |
Pauline Carter Vice-President | OfficerTrustee | 1 | $0 |
Robert Mayberry Treasurer | OfficerTrustee | 1 | $0 |
Rodney Tate Assistant Secretary | OfficerTrustee | 1 | $0 |
Odessa Smith Trustee | Trustee | 1 | $0 |
Ray Pennington Jr Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $0 |
| Total Program Service Revenue | $947,182 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $3,808 |
| 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 | $963,602 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $256,130 |
| Pension plan accruals and contributions | $4,815 |
| Other employee benefits | $20,567 |
| Payroll taxes | $19,374 |
| Fees for services: Management | $60,280 |
| Fees for services: Legal | $2,196 |
| Fees for services: Accounting | $30,079 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,538 |
| Advertising and promotion | $7,717 |
| Office expenses | $73,570 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $67,007 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $57,547 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $103,125 |
| Insurance | $65,424 |
| All other expenses | $0 |
| Total functional expenses | $1,012,257 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $117,917 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,509 |
| 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 | $38,505 |
| Net Land, buildings, and equipment | $1,415,442 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $451,672 |
| Total assets | $2,035,045 |
| Accounts payable and accrued expenses | $63,870 |
| Grants payable | $0 |
| Deferred revenue | $7,815 |
| 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 | $841,893 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,683 |
| Total liabilities | $932,261 |
| Net assets without donor restrictions | $1,037,199 |
| Net assets with donor restrictions | $65,585 |
| 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 | $2,035,045 |