Galena Park Terrace is located in Peoria Heights, IL. The organization was established in 2000. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Galena Park Terrace 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 06/2022, Galena Park Terrace generated $12.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (56.7%) each year. All expenses for the organization totaled $7.6k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (50.4%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW RENT HOUSING FOR THE ELDERLY AND DISABLED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GALENA PARK TERRACE IS A PROVIDER OF LOW RENT HOUSING FOR THE ELDERLY AND DISABLED.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
William Wombacher President | OfficerTrustee | 0.5 | $0 |
Dan Vonachen Secretary/treasurer | OfficerTrustee | 0.5 | $0 |
James Stowell Sr Vice President | OfficerTrustee | 0.5 | $0 |
Thomas Giunta Director | Trustee | 0.5 | $0 |
Dean R Bordeaux MD Director | Trustee | 0.5 | $0 |
Scott Mabee Director | Trustee | 0.5 | $0 |
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 | $0 |
Investment income | $11,470 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,332 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $12,802 |
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 | $0 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $3,422 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $4,124 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $8 |
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 | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $0 |
Insurance | $0 |
All other expenses | $0 |
Total functional expenses | $7,554 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $309,453 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $22 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $2,947,348 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $871,525 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $511,452 |
Total assets | $4,639,800 |
Accounts payable and accrued expenses | $0 |
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 | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $0 |
Net assets without donor restrictions | $4,639,800 |
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 | $4,639,800 |
Organization Name | Assets | Revenue |
---|---|---|
Wesley Manor Retirement Community Inc Louisville, KY | $9,224,359 | $9,135,157 |
Washington And Jane Smith Home Chicago, IL | $45,946,166 | $12,016,022 |
St Luke Homes & Services Inc Spencer, IA | $9,786,466 | $9,281,620 |
Scottish Rite Park Inc Des Moines, IA | $25,028,424 | $10,213,355 |
Oakwood Village Prairie Ridge Apartments Inc Madison, WI | $66,544,502 | $7,123,839 |
Oak Grove Christian Retirement Village Inc Demotte, IN | $15,497,962 | $9,106,880 |
Harwood Place Inc Wauwatosa, WI | $17,919,656 | $8,540,786 |
Haven Hubbard Homes Inc New Carlisle, IN | $13,233,962 | $8,213,218 |
Bethany North Suburban Group Glenview, IL | $25,298,657 | $7,708,577 |
Schmitt Woodland Hills Incorporated Richland Center, WI | $14,880,060 | $7,907,727 |
St Monicas Senior Living Racine, WI | $12,962,132 | $7,449,311 |
Ascension Living Via Christi Village Georgetown St Louis, MO | $14,604,169 | $4,861,607 |