St Marks Towers Inc
- Assets
- $2.4m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 21
- Location
- Brunswick, GA
- Founding
- 12/1979
- Data as of
- 09/2023
- EIN
- 58-1357005
Organization Overview
St Marks Towers Inc is located in Brunswick, GA. The organization was established in 1979. 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 09/2023, St Marks Towers Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Marks Towers 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 09/2023, St Marks Towers Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $1.6m during the year ending 09/2023. While expenses have increased by 0.7% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HOUSING FOR THE ELDERLY AND ELDERLY HANDICAPPED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING TO THE ELDERLY AND ELDERLY HANDICAPPED IN THE LOW INCOME TO EXTREMELY LOW INCOME BRACKETS. ONE HUNDRED FIFTY UNITS ARE AVAILABLE FOR RENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melinda Massey Executive Di | Officer | 40 | $28,950 |
Alan Akridge Board Member | Trustee | $0 | |
Dan Burr Board Member | Trustee | $0 | |
Ralph Dembowczyk Board Member | Trustee | $0 | |
Leslie Faulkenberry Board Member | Trustee | $0 | |
Kathy Friedman Board Member | Trustee | $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 | $56,240 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $56,240 |
| Total Program Service Revenue | $1,925,866 |
| Investment income | $148 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,276 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,979,978 |
| 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. | $28,950 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $45,769 |
| Other salaries and wages | $375,521 |
| Pension plan accruals and contributions | $13,424 |
| Other employee benefits | $81,641 |
| Payroll taxes | $36,074 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $36,583 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $146,184 |
| Advertising and promotion | $1,781 |
| Office expenses | $30,658 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $511,739 |
| Travel | $229 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,941 |
| Interest | $95,181 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $167,298 |
| Insurance | $22,976 |
| All other expenses | $1,662 |
| Total functional expenses | $1,640,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $2,721 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,765 |
| 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 | $10,932 |
| Net Land, buildings, and equipment | $1,638,927 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $99,805 |
| Other assets | $666,397 |
| Total assets | $2,421,847 |
| Accounts payable and accrued expenses | $55,172 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $68,887 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,333,223 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,457,282 |
| Net assets without donor restrictions | -$1,035,435 |
| 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 | $2,421,847 |