Trinity Terrace Inc
- Assets
- $4.0m
- Revenue
- $968.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Rockville, MD
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 52-2293450
Organization Overview
Trinity Terrace Inc is located in Rockville, MD. The organization was established in 1946. 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. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Trinity Terrace 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 06/2022, Trinity Terrace Inc generated $968.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 6.5% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
AFFORDABLE HOUSING AND SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
72 RENTAL APARTMENT UNITS PROVIDING AFFORDABLE HOUSING AND RELATED SOCIAL SERVICES TO VERY-LOW-INCOME INDEPENDENT SENIOR CITIZENS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leila A Finucane President & CEO | Officer | 1 | $0 |
Jacqueline R Smedley Vice President | OfficerTrustee | 1 | $0 |
Michelle M Limeres Treasurer | OfficerTrustee | 1 | $0 |
Jeffrey Blackwell Asst Secretary | OfficerTrustee | 1 | $0 |
John D Spencer Senior Vice President Thru 5 | 1 | $0 | |
Edward Creskoff Outgoing Secretary | OfficerTrustee | 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 | $967,915 |
| Investment income | $599 |
| 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 | $968,514 |
| 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 | $100,154 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,314 |
| Payroll taxes | $12,493 |
| Fees for services: Management | $77,417 |
| Fees for services: Legal | $309 |
| Fees for services: Accounting | $14,874 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $227,283 |
| Advertising and promotion | $888 |
| Office expenses | $16,469 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,147 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,519 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $199,638 |
| Insurance | $0 |
| All other expenses | $43,958 |
| Total functional expenses | $1,080,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,700 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $352 |
| 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 | $6,520 |
| Net Land, buildings, and equipment | $3,627,962 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $399,997 |
| Total assets | $4,048,531 |
| Accounts payable and accrued expenses | $50,212 |
| Grants payable | $0 |
| Deferred revenue | $3,316 |
| 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 | $275,982 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $40,285 |
| Total liabilities | $369,795 |
| Net assets without donor restrictions | $3,678,736 |
| 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 | $4,048,531 |