Asberry Courts Inc
- Assets
- $5.5m
- Revenue
- $707.7k
- Investments
- $0.0
- Employees
- 4
- Location
- Greensboro, NC
- Founding
- 08/1974
- Data as of
- 06/2023
- EIN
- 56-0954816
Organization Overview
Asberry Courts Inc is located in Greensboro, NC. The organization was established in 1974. According to its NTEE Classification (P70) the organization is classified as: Residential Care & Adult Day Programs, under the broad grouping of Human Services and related organizations. As of 06/2023, Asberry Courts Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Asberry Courts Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE APARTMENT UNITS FOR LOW INCOME PERSONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATED APARTMENT UNITS FOR LOW INCOME PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Smith President | OfficerTrustee | 1 | $0 |
Barabara White-Tate Vice President | OfficerTrustee | 1 | $0 |
Hobson Bryant Director | Trustee | 1 | $0 |
Jerome Lee Director | 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 | $707,662 |
| Investment income | $29 |
| 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 | $707,691 |
| 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 | $120,494 |
| Pension plan accruals and contributions | $902 |
| Other employee benefits | $21,315 |
| Payroll taxes | $8,976 |
| Fees for services: Management | $46,000 |
| Fees for services: Legal | $8,894 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,050 |
| Advertising and promotion | $0 |
| Office expenses | $22,146 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $55,535 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $171,603 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $219,904 |
| Insurance | $19,929 |
| All other expenses | $0 |
| Total functional expenses | $769,093 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $187,447 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,549 |
| 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 | $5,295,480 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,494,476 |
| Accounts payable and accrued expenses | $3,852 |
| Grants payable | $0 |
| Deferred revenue | $20,317 |
| 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 | $4,343,491 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $48,341 |
| Total liabilities | $4,416,001 |
| Net assets without donor restrictions | $1,078,475 |
| 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 | $5,494,476 |