Mccreary Apartments Inc
- Assets
- $629.8k
- Revenue
- $331.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Whitley City, KY
- Founding
- 03/1981
- Data as of
- 12/2023
- EIN
- 61-0966805
Organization Overview
Mccreary Apartments Inc is located in Whitley City, KY. The organization was established in 1981. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 12/2023, Mccreary Apartments Inc employed 2 individuals. This organization is the central organization for a national or regional group of organizations. Mccreary Apartments 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 12/2023, Mccreary Apartments Inc generated $331.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $343.1k during the year ending 12/2023. While expenses have increased by 4.1% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING LOW-INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ADEQUATE HOUSING FOR FAMILIES WITH LOW OR MODERATE INCOME AND/OR SENIOR CITIZENS ON FIXED INCOME. RENTS ARE BASED ON INCOME LEVEL AND FAMILY SIZE, AND IS SUBSIDIZED BY KY HOUSING CORP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Sewell Manager | Trustee | 35 | $80,900 |
Ralph Blevins Bd. Dir. | Trustee | 0 | $0 |
Karen Hatfield Sec./treas./bd.dir. | OfficerTrustee | 0 | $0 |
David Perry Pres./bd. Dir. | OfficerTrustee | 0 | $0 |
James O Strunk V Pres/bd. Dir. | OfficerTrustee | 0 | $0 |
David Price Bd. Dir. | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $214,804 |
| 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 | $214,804 |
| Total Program Service Revenue | $109,012 |
| Investment income | $7,239 |
| 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 | $331,055 |
| 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. | $80,900 |
| Compensation of current officers, directors, key employees. | $80,900 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,400 |
| Pension plan accruals and contributions | $12,430 |
| Other employee benefits | $39,878 |
| Payroll taxes | $9,509 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,063 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,700 |
| Office expenses | $3,415 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,175 |
| Travel | $1,931 |
| 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 | $34,537 |
| Insurance | $19,654 |
| All other expenses | $3,480 |
| Total functional expenses | $343,092 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $416,593 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $46 |
| 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 | $8,388 |
| Net Land, buildings, and equipment | $204,761 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $629,788 |
| Accounts payable and accrued expenses | $11,875 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $6,471 |
| 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 | $0 |
| Total liabilities | $18,346 |
| Net assets without donor restrictions | $611,442 |
| 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 | $629,788 |