Presbyterian Towers Inc
- Assets
- $2.7m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 19
- Location
- St Petersburg, FL
- Founding
- 11/1966
- Data as of
- 09/2022
- EIN
- 59-1197322
Organization Overview
Presbyterian Towers Inc is located in St Petersburg, FL. The organization was established in 1966. 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, Presbyterian Towers Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Presbyterian 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, Presbyterian Towers Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $1.4m during the year ending 09/2022. While expenses have increased by 1.6% 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
LOW RENT GOVERNMENT ASSISTED HOUSING FOR THE ELDERLY UNDER HUD REGULATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOW RENT GOVERNMENT ASSISTED HOUSING FOR THE ELDERLY UNDER HUD REGULATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diana Fredricks Assistant Tr | OfficerTrustee | $0 | |
Lynn Knox 2nd Vice Pre | OfficerTrustee | $0 | |
Nancy Clark Miller Treasurer | OfficerTrustee | $0 | |
Scott Boggs Assistant Se | OfficerTrustee | $0 | |
James Wilson President | OfficerTrustee | $0 | |
Faith Battan Director | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,527,111 |
| Investment income | $1,190 |
| 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 | $1,545,114 |
| 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 | $357,812 |
| Pension plan accruals and contributions | $15,864 |
| Other employee benefits | $28,665 |
| Payroll taxes | $29,642 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,175 |
| 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 | $21,416 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $312,381 |
| Travel | $0 |
| 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 | $236,135 |
| Insurance | $144,156 |
| All other expenses | $804 |
| Total functional expenses | $1,418,847 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $200 |
| Savings and temporary cash investments | $1,056,732 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $28 |
| 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 | $72,202 |
| Net Land, buildings, and equipment | $1,569,351 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,698,513 |
| Accounts payable and accrued expenses | $40,472 |
| Grants payable | $0 |
| Deferred revenue | $5,413 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $119,800 |
| Total liabilities | $165,685 |
| Net assets without donor restrictions | $2,532,828 |
| 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 | $2,698,513 |
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|---|---|---|
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Jewish Home Life Communities Inc Atlanta, GA | $30,539,364 | $15,353,434 |
Presbyterian Retirement Homes Of Birmingham Inc Birmingham, AL | $21,717,222 | $12,145,816 |
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