Freed-Hardeman Housing Corporation
- Assets
- $665.7k
- Revenue
- $837.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Duluth, GA
- Founding
- Data as of
- 06/2017
- EIN
- 58-1396689
Organization Overview
Freed-Hardeman Housing Corporation, operating under the name Heritage Towers, is located in Duluth, GA. Heritage Towers 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 06/2017, Heritage Towers generated $837.4k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $753.9k during the year ending 06/2017. While expenses have increased by 0.9% per year over the past 2 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
2017
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HOUSING FOR THE ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION AND MAINTENANCE OF A 75 UNIT APARTMENT COMPLEX FOR THE ELDERLY AND SELF-SUFFICIENT HANDICAPPED IN ACCORDANCE WITH THE DEPT OF HOUSING AND URBAN DEVELOPMENT SEC. 202 PROGRAM.
OPERATION AND MAINTENANCE OF A 75 UNIT APARTMENT COMPLEX FOR THE ELDERLY AND SELF-SUFFICIENT HANDICAPPED IN ACCORDANCE WITH THE DEPT OF HOUSING AND URBAN DEVELOPMENT SEC. 202 PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard N Taylor Jr Secretary/treasurer | OfficerTrustee | 0.5 | $0 |
Dr Joe A Wiley President | OfficerTrustee | 0.5 | $0 |
Lisa Beene Board Member | Trustee | 0.5 | $0 |
Dr Michael Cravens Board Member | Trustee | 0.5 | $0 |
Mynonne Tate Board Member | Trustee | 0.5 | $0 |
Dr James O Butts Board Member | Trustee | 0.5 | $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 | $830,693 |
| Investment income | $953 |
| 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 | $837,355 |
| 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 | $130,886 |
| Pension plan accruals and contributions | $6,014 |
| Other employee benefits | $20,772 |
| Payroll taxes | $9,557 |
| Fees for services: Management | $48,552 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,660 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,603 |
| Advertising and promotion | $452 |
| Office expenses | $11,111 |
| Information technology | $3,466 |
| Royalties | $0 |
| Occupancy | $383,657 |
| Travel | $1,008 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,653 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,941 |
| Insurance | $30,643 |
| All other expenses | $0 |
| Total functional expenses | $753,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,187 |
| Savings and temporary cash investments | $376,540 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,237 |
| 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 | $18,423 |
| Net Land, buildings, and equipment | $225,174 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,108 |
| Total assets | $665,669 |
| Accounts payable and accrued expenses | $29,736 |
| Grants payable | $0 |
| Deferred revenue | $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 | $1,338,910 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,747 |
| Total liabilities | $1,389,892 |
| Unrestricted restricted net Assets | -$724,223 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | -$724,223 |