Patrician Arms
- Assets
- $2.4m
- Revenue
- $616.7k
- Investments
- $0.0
- Employees
- 5
- Location
- Seminole, FL
- Founding
- 03/1946
- Data as of
- 06/2024
- EIN
- 59-3169557
Organization Overview
Patrician Arms is located in Seminole, FL. The organization was established in 1946. According to its NTEE Classification (X20) the organization is classified as: Christianity, under the broad grouping of Religion-Related and related organizations. As of 06/2024, Patrician Arms employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Patrician Arms 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 06/2024, Patrician Arms generated $616.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $700.8k during the year ending 06/2024. While expenses have increased by 2.5% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE A HUD SUBSIDIZED AND REGULATED APARTMENT COMPLEX. OUR MISSION IS TO PROVIDE AFFORDABLE HOUSING AND OTHER SERVICES TO LOW INCOME ELDERLY AND/OR HANDICAPPED PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
82 APARTMENTS FOR LOW INCOME ELDERLY OR HANDICAPPED PERSONS UNDER SECTION 202 OF THE NATIONAL HOUSING ACT WITH SECTION 8 SUBSIDY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Edwin Palka President | OfficerTrustee | 1 | $0 |
Margaret Rogers Vice Preside | OfficerTrustee | 1 | $0 |
James Wayne Treasurer | OfficerTrustee | 1 | $0 |
Rev Emery Longanga Member | Trustee | 1 | $0 |
Rev James Ruhlin Member | Trustee | 1 | $0 |
Rev Wayne Genereux Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $350,214 |
| 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 | $350,214 |
| Total Program Service Revenue | $255,692 |
| Investment income | $8,508 |
| 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 | $616,681 |
| 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 | $140,652 |
| Pension plan accruals and contributions | $10,622 |
| Other employee benefits | $30,228 |
| Payroll taxes | $9,471 |
| Fees for services: Management | $55,546 |
| Fees for services: Legal | $3,300 |
| Fees for services: Accounting | $17,565 |
| 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 | $18,425 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $226,439 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,172 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $102,355 |
| Insurance | $76,629 |
| All other expenses | $0 |
| Total functional expenses | $700,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $15,558 |
| Savings and temporary cash investments | $394,034 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,544 |
| 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 | $30,224 |
| Net Land, buildings, and equipment | $1,991,232 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,300 |
| Total assets | $2,436,892 |
| Accounts payable and accrued expenses | $53,542 |
| Grants payable | $0 |
| Deferred revenue | $713 |
| 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 | $23,203 |
| Total liabilities | $77,458 |
| Net assets without donor restrictions | -$1,609,666 |
| Net assets with donor restrictions | $3,969,100 |
| 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 | $2,436,892 |