Appletree Court
- Assets
- $618.9k
- Revenue
- $68.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Breckenridge, MN
- Founding
- 03/1946
- Data as of
- 06/2021
- EIN
- 41-1850500
Organization Overview
Appletree Court is located in Breckenridge, MN. The organization was established in 1946. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Appletree Court 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 06/2021, Appletree Court generated $68.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $80.1k during the year ending 06/2021. 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
APPLETREE COURT IS AN INDEPENDENT, INCOME-BASED, SENIOR HOUSING UNIT, ESTABLISHED TO PROVIDE CLEAN, COMFORTABLE, SAFE, AND AFFORDABLE HOUSING FOR ELDERLY, LOW-INCOME RESIDENTS OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
APPLETREE COURT WAS INCORPORATED AS A 501(C)(3) INDEPENDENT, INCOME-BASED, SENIOR HOUSING UNIT IN 1998. THIS 20 APARTMENT COMPLEX WAS ESTABLISHED TO PROVIDE CLEAN, COMFORTABLE, SAFE, AND AFFORDABLE HOUSING FOR ELDERLY, LOW-INCOME RESIDENTS OF THE BRECKENRIDGE COMMUNITY. APPLETREE COURT'S 11-MEMBER BOARD OF DIRECTORS AND THE DIRECTOR OVERSEE THE OPERATIONS OF THE HOUSING COMPLEX AND PROVIDE REDUCED RENTS TO ITS TENANTS. THE RENT ON THE APARTMENTS IS ADJUSTED BASED ON EACH TENANT'S INCOME. IF THE RENT IS LESS THAN THE HOUSING AND URBAN DEVELOPMENT (HUD) ESTABLISHED MINIMUM, $410, HUD MAKES UP THE DIFFERENCE. HOWEVER, $410 IS LESS THAN THE MARKET RATE FOR SIMILAR HOUSING DEVELOPMENTS IN OUR COMMUNITY, THUS ALLOWING THE TENANTS TO LIVE IN HOUSING OF A HIGHER QUALITY THAN THEY COULD OTHERWISE AFFORD. APPLETREE COURT ALSO PROVIDES SOCIAL AND RECREATIONAL ACTIVITIES FOR THE TENANTS OF THE COMPLEX. IN ADDITION, APPLETREE COURT PROVIDES MEETING SPACE FREE OF CHARGE TO SEVERAL HEALTH-RELATED COMMUNITY GROUPS, SUCH AS WEIGHT LOSS, GRIEF SUPPORT, ETC. TENANTS ARE ALSO ENCOURAGED TO USE THE COMMUNITY AREAS FREE OF CHARGE. THE COMMUNITY BENEFIT AMOUNT IS $0 FOR FY21 DUE TO PUBLIC HEALTH RESTRICTIONS ON IN-PERSON, INDOOR GATHERINGS DURING THE COVID-19 PANDEMIC. HOPEFULLY IN FY22 RESTRICTIONS WILL BE LIFTED AND TENANTS CAN USE COMMUNITY AREAS AGAIN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clint Conzemius Vice Chair | OfficerTrustee | 1 | $0 |
Carter Hansen Chair | OfficerTrustee | 1 | $0 |
David Nelson President/ceo | OfficerTrustee | 5 | $0 |
Mary Jacklitch Secretary/marketing Manager | Officer | 5 | $0 |
Joshua Senger VP Operational Finance/cfo/treasurer | Officer | 4 | $0 |
Craig Caspers Board Member | 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 | $66,164 |
| Investment income | $195 |
| 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 | $67,986 |
| 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 | $325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22,507 |
| Advertising and promotion | $5,345 |
| Office expenses | $1,048 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,621 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $150 |
| Payments to affiliates | $10,349 |
| Depreciation, depletion, and amortization | $12,288 |
| Insurance | $1,127 |
| All other expenses | $0 |
| Total functional expenses | $80,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $132,305 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,115 |
| 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 | $475,431 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $618,851 |
| Accounts payable and accrued expenses | $2,116 |
| 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 | $69,750 |
| Total liabilities | $71,866 |
| Net assets without donor restrictions | -$839,715 |
| Net assets with donor restrictions | $1,386,700 |
| 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 | $618,851 |
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