St Marks Towers Inc
- Assets
- $2.4m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 22
- Location
- Brunswick, GA
- Founding
- 12/1979
- Data as of
- 09/2022
- 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 09/2022, St Marks Towers Inc employed 22 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 09/2022, St Marks Towers Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.7m during the year ending 09/2022. While expenses have increased by 1.1% 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
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 |
|---|---|---|---|
Jenna Lightfoot Executive Di | Officer | 40 | $65,240 |
Alan Akridge Board Member | Trustee | 2 | $0 |
Dan Burr Board Member | Trustee | 2 | $0 |
Ralph Dembowczyk Board Member | Trustee | 2 | $0 |
Leslie Faulkenberry Board Member | Trustee | 2 | $0 |
Kathy Friedman Board Member | Trustee | 2 | $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 | $177,175 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $177,175 |
| Total Program Service Revenue | $1,780,786 |
| Investment income | $113 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$21,926 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,952,288 |
| 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. | $65,240 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $429,132 |
| Pension plan accruals and contributions | $16,707 |
| Other employee benefits | $75,137 |
| Payroll taxes | $40,824 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $129,724 |
| Advertising and promotion | $23,845 |
| Office expenses | $30,852 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $477,572 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,882 |
| Interest | $109,885 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $192,308 |
| Insurance | $33,081 |
| All other expenses | $0 |
| Total functional expenses | $1,679,856 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $14,299 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,279 |
| 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 | $11,294 |
| Net Land, buildings, and equipment | $1,652,253 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $109,454 |
| Other assets | $582,862 |
| Total assets | $2,371,741 |
| Accounts payable and accrued expenses | $72,014 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $63,748 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,610,950 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,746,712 |
| Net assets without donor restrictions | -$1,374,971 |
| 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 | $2,371,741 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that St Marks Towers Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
St Marys United Methodist Church Foundation Inc Saint Marys, GA PURPOSE: MATERIALS FOR PRGM & NEW POSITION | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Andrews Residence Of The Diocese Of Southeast Florida Inc West Palm Beach, FL | $295,539 | $24,065,641 |
Cypress Of Charlotte Club Inc Charlotte, NC | $4,602,507 | $19,033,502 |
Lavender Mountain Senior Living Inc Mount Berry, GA | $141,195,331 | $5,176,789 |
Cypress Club Inc Hilton Head Island, SC | $31,122,152 | $20,067,120 |
Westminster Pines Inc Orlando, FL | $103,132,021 | $15,458,662 |
Skidaway Health And Living Services Inc Savannah, GA | $89,340,251 | $17,567,308 |
Lake Prince Center Inc Newton, NC | $22,105,583 | $13,762,352 |
Palm Shores Retirement Community Inc Orlando, FL | $37,421,751 | $16,521,390 |
St George Village-Catholic Community Retirement Center Roswell, GA | $71,436,640 | $13,654,810 |
Wesley Homes Inc Atlanta, GA | $20,385,914 | $13,715,520 |
Tampa Life Plan Village Inc Tampa, FL | $57,175,002 | $4,514,952 |
Jewish Home Life Communities Inc Atlanta, GA | $30,539,364 | $15,353,434 |