Carver Apartment Inc
- Assets
- $572.4k
- Revenue
- $395.9k
- Investments
- $0.0
- Employees
- 0
- Location
- West Columbia, SC
- Founding
- 06/2001
- Data as of
- 12/2021
- EIN
- 57-0537717
Organization Overview
Carver Apartment Inc is located in West Columbia, SC. The organization was established in 2001. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, 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. Carver Apartment 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 12/2021, Carver Apartment Inc generated $395.9k 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 $382.3k during the year ending 12/2021. While expenses have increased by 4.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWNERSHIP AND OPERATION OF A 32-UNIT APARTMENT COMMUNITY UNDER SECTION 221(D)(3) OF THE NATIONAL HOUSING ACT, AS AMENDED, TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME FAMILIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Chestnut Chairman | Trustee | 0.5 | $0 |
John King Trustee | Trustee | 0.5 | $0 |
Markus Chestnut Trustee | Trustee | 0.5 | $0 |
Terrance Middleton Trustee | Trustee | 0.5 | $0 |
Patricia Anderson Trustee | Trustee | 0.5 | $0 |
Kenny Brown Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $304,276 |
| 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 | $304,276 |
| Total Program Service Revenue | $82,364 |
| Investment income | $0 |
| 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 | $395,923 |
| 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 | $30,098 |
| Fees for services: Legal | $5,753 |
| Fees for services: Accounting | $5,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $19,506 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,173 |
| Travel | $1,649 |
| 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 | $30,352 |
| Insurance | $50,575 |
| All other expenses | $16,534 |
| Total functional expenses | $382,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $214,518 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,818 |
| 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 | $47,213 |
| Net Land, buildings, and equipment | $298,949 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,930 |
| Total assets | $572,428 |
| Accounts payable and accrued expenses | $23,499 |
| Grants payable | $0 |
| Deferred revenue | $3,243 |
| 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 | $181,109 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,930 |
| Total liabilities | $216,781 |
| Net assets without donor restrictions | $355,647 |
| 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 | $572,428 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Homes Of Hope Inc Greenville, SC | $52,743,040 | $8,879,901 |
Dhic Inc Raleigh, NC | $31,965,470 | $6,009,696 |
Crossroads Corp For Affordable Housing And Community Dev Inc Charlotte, NC | $3,590,675 | $1,496,977 |
Millbrook Homes Inc Winstonsalem, NC | $1,657,494 | $820,182 |
Champions Community Foundation Inc Johns Creek, GA | $6,758,980 | $1,049,035 |
Fayetteville Area Operationinasmuch Fayetteville, NC | $1,640,883 | $714,527 |
Community Housing Services Agency Inc Savannah, GA | $5,401,354 | $1,041,756 |
Greystone Power Foundation Inc Douglasville, GA | $26,542 | $409,762 |
Midlands Community Development Corporation Columbia, SC | $1,205,990 | $422,874 |
Carver Apartment Inc West Columbia, SC | $572,428 | $395,923 |
Resources For Residents And Communities Of Georgia Inc Atlanta, GA | $739,811 | $205,706 |
Fcs Community Finance Atlanta, GA | $160,786 | $0 |