Milligan Housing For The Elderly & Handicapped Of Elizabethton Tennes
- Assets
- $508.7k
- Revenue
- $282.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Johnson City, TN
- Founding
- 06/1989
- Data as of
- 12/2022
- EIN
- 58-1580734
Organization Overview
Milligan Housing For The Elderly & Handicapped Of Elizabethton Tennes is located in Johnson City, TN. The organization was established in 1989. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2022, Milligan Housing For The Elderly & Handicapped Of Elizabethton Tennes employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milligan Housing For The Elderly & Handicapped Of Elizabethton Tennes 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 12/2022, Milligan Housing For The Elderly & Handicapped Of Elizabethton Tennes generated $282.7k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $215.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 4 years. 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
PROVISION OF ASSISTED LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOW AND MODERATE INCOME FAMILY HOUSING PROJECT REGULATED BY US DEPT OF HOUSING AND URBAN DEVELOPMENT UNDER SECTION 8 OF THE FEDERAL HOUSING ACT OF 1937.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ron Dempsey Director | Trustee | 2 | $0 |
Bill Loran Director | Trustee | 2 | $0 |
Phil Torbett President | Trustee | 2 | $0 |
Corey Webb Directpr | Trustee | 2 | $0 |
Cal Wilson Director | Trustee | 2 | $0 |
Rick York Sec/treas | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $117,503 |
| All other contributions, gifts, grants, and similar amounts not included above | $161,450 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $278,953 |
| Total Program Service Revenue | $0 |
| Investment income | $213 |
| 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 | $282,673 |
| 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 | $15,607 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,347 |
| Fees for services: Management | $23,354 |
| Fees for services: Legal | $5,354 |
| Fees for services: Accounting | $2,400 |
| 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 | $1,218 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $108,230 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,621 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,112 |
| Insurance | $18,025 |
| All other expenses | $0 |
| Total functional expenses | $215,256 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,793 |
| Savings and temporary cash investments | $169,659 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,652 |
| 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 | $5,650 |
| Net Land, buildings, and equipment | $236,881 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $76,061 |
| Total assets | $508,696 |
| Accounts payable and accrued expenses | $21,464 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $538,430 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,935 |
| Total liabilities | $567,829 |
| Net assets without donor restrictions | -$59,133 |
| 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 | $508,696 |