Prince Edward Graves Homes Inc
- Assets
- $1.8m
- Revenue
- $753.4k
- Investments
- $0.0
- Employees
- 5
- Location
- Greensboro, NC
- Founding
- 09/1989
- Data as of
- 06/2022
- EIN
- 56-1748033
Organization Overview
Prince Edward Graves Homes Inc is located in Greensboro, NC. The organization was established in 1989. 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. As of 06/2022, Prince Edward Graves Homes Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prince Edward Graves Homes 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, Prince Edward Graves Homes Inc generated $753.4k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 30.6% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE APARTMENT UNITS FOR LOW INCOME, ELDERLY, AND/OR DISABLED PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED APARTMENT UNITS FOR LOW INCOME, ELDERLY, AND/OR DISABLED PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Smith President | OfficerTrustee | 1 | $0 |
Barbara White-Tate Vice-President | OfficerTrustee | 1 | $0 |
Jeanne Smith Secretary | OfficerTrustee | 1 | $0 |
Hobson Bryant Director | Trustee | 1 | $0 |
Harvey Lackey Director | Trustee | 1 | $0 |
Jerome Lee Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $489,267 |
| Investment income | $413 |
| 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 | $753,358 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $140,814 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,128 |
| Payroll taxes | $10,882 |
| Fees for services: Management | $60,235 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,940 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,844 |
| Advertising and promotion | $0 |
| Office expenses | $16,489 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $294,991 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $66,333 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,128 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $671,784 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,963 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,964 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $534,261 |
| Total assets | $1,822,647 |
| Accounts payable and accrued expenses | $14,189 |
| Grants payable | $0 |
| Deferred revenue | $6,499 |
| 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 | $2,188,385 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,992 |
| Total liabilities | $2,235,065 |
| Net assets without donor restrictions | -$412,418 |
| 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 |
| Total liabilities and net assets/fund balances | -$412,418 |