Highland Terrace Of Prestonsburg Inc
- Assets
- $1.0m
- Revenue
- $729.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Prestonsburg, KY
- Founding
- 04/1987
- Data as of
- 06/2022
- EIN
- 61-0966651
Organization Overview
Highland Terrace Of Prestonsburg Inc is located in Prestonsburg, KY. The organization was established in 1987. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Highland Terrace Of Prestonsburg 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 06/2022, Highland Terrace Of Prestonsburg Inc generated $729.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $690.2k during the year ending 06/2022. 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
THE MISSION OF HIGHLAND TERRACE OF PRESTONSBURG, INC. IS TO PROVIDE DECENT, SAFE, SANITARY, AND AFFORDABLE HOUSING TO EXTREMELY LOW, VERY LOW AND LOW INCOME ELDERLY INDIVIDUALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGHLAND TERRACE OF PRESTONSBURG, INC. RENTS 80 APARTMENTS TO THE ELDERLY. HUD REGULATES ELIGIBILITY CRITERIA AND SUBSIDIZED MONTHLY RENT CHARGES. FOR THE YEAR ENDED JUNE 30, 2022, HUD PROVIDED 419,900 IN HOUSING ASSISTANCE PAYMENTS, WHICH REPRESENTS 58% OF TOTAL ANNUAL REVENUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev Bob Carpenter Chairman | OfficerTrustee | $0 | |
Jody Collins Administrato | OfficerTrustee | $0 | |
Rev Jerri Williams Vice Chairma | OfficerTrustee | $0 | |
Reverend Tom Biddle Director | Trustee | $0 | |
Dr Eugene Blackburn Director | Trustee | $0 | |
Rev Kevin Jett 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 | $716,838 |
| Investment income | $118 |
| 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 | $729,022 |
| 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 | $67,750 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $79,855 |
| Payroll taxes | $10,993 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,133 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,283 |
| Office expenses | $11,996 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $308,551 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,688 |
| Interest | $93,303 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,425 |
| Insurance | $46,301 |
| All other expenses | $0 |
| Total functional expenses | $690,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,652 |
| Savings and temporary cash investments | $334,081 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $7,955 |
| Net Land, buildings, and equipment | $668,544 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,032,232 |
| Accounts payable and accrued expenses | $15,325 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $25,735 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,865,354 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,246 |
| Total liabilities | $1,930,660 |
| Net assets without donor restrictions | -$898,428 |
| 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 | $1,032,232 |
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Community Investment Corp Chicago, IL | $332,682,140 | $31,622,758 |
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Affordable Housing Development Fund Inc Rockford, IL | $87,465,066 | $18,557,415 |
Chicago Low Income Housing Trust Fund Chicago, IL | $68,435,328 | $24,410,244 |
Interfaith Housing Development Corporation Of Chicago Chicago, IL | $13,790,371 | $15,355,980 |
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