American Heritage Apartments Inc
- Assets
- $48.6m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 39
- Location
- Texarkana, TX
- Founding
- 04/1994
- Data as of
- 06/2022
- EIN
- 62-1501638
Organization Overview
American Heritage Apartments Inc is located in Texarkana, TX. The organization was established in 1994. 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 06/2022, American Heritage Apartments Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Heritage 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 06/2022, American Heritage Apartments Inc generated $4.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $5.6m 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
QUALITY AFFORDABLE HOUSING. WE OFFER REDUCED RENT TO LOW AND VERY LOW INDIVIDUALS AND FAMILIES. WE DEDICATE 35 OF OUR UNITS TO THIS PURPOSE. WE RECEIVE NO FUNDING FROM OUTSIDE SOURCES TO ASSIST WITH THIS ENDEAVER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
QUALITY AFFORDABLE HOUSING. WE OFFER REDUCED RENT TO LOW AND VERY LOW INDIVIDUALS AND FAMILIES. WE DEDICATE 35 OF OUR UNITS TO THIS PURPOSE. WE RECEIVE NO FUNDING FROM OUTSIDE SOURCES TO ASSIST WITH THIS ENDEAVER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lonny D Weitzel Vice President | OfficerTrustee | 50 | $440,574 |
William D Weitzel President | OfficerTrustee | 50 | $259,544 |
Charlene Carter Comptroller | OfficerTrustee | 40 | $149,580 |
Grace A Weitzel Secretary | OfficerTrustee | 40 | $0 |
Brendon Peterson Board Member | Trustee | $0 | |
Kenneth Straw 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 | $30,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,000 |
| Total Program Service Revenue | $2,683,734 |
| Investment income | $805,817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $469,849 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,069,211 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $35,122 |
| 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. | $849,698 |
| Compensation of current officers, directors, key employees. | $509,819 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $892,815 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $79,769 |
| Payroll taxes | $106,310 |
| Fees for services: Management | $131,267 |
| Fees for services: Legal | $32,787 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,279 |
| Advertising and promotion | $6,929 |
| Office expenses | $27,694 |
| Information technology | $34,520 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $251,322 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $77,708 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,324,808 |
| Insurance | $214,828 |
| All other expenses | $304,216 |
| Total functional expenses | $5,577,090 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $224,626 |
| Savings and temporary cash investments | $16,941,165 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $839,227 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $14,575,953 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $133,947 |
| Net Land, buildings, and equipment | $11,194,871 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,654,348 |
| Total assets | $48,564,137 |
| Accounts payable and accrued expenses | $2,527,647 |
| 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 | $578,000 |
| Unsecured mortgages and notes payable | $254,145 |
| Other liabilities | $0 |
| Total liabilities | $3,359,792 |
| Net assets without donor restrictions | $45,204,345 |
| 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 | $48,564,137 |
Grants Awarded
Over the last fiscal year, American Heritage Apartments Inc has awarded $43,468 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
AMAZING FACTS PURPOSE: Support | $25,000 |
Cleveland, TN PURPOSE: Support | $10,000 |
OZARK ACADEMY PURPOSE: Support | $8,468 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that American Heritage Apartments Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Provident Commonwealth Education Resources Baton Rouge, LA | $142,254,594 | $7,390,935 |
Provident Commonwealth Education Resources Ii Baton Rouge, LA | $154,926,817 | $6,407,611 |
Houston Habitat For Humanity Inc Houston, TX | $36,979,256 | $11,315,347 |
Avenue Community Development Coporation Houston, TX | $81,189,118 | $11,542,239 |
Habitat For Humanity International Inc Fort Worth, TX | $28,701,953 | $17,323,879 |
Habitat For Humanity Of San Antonio Inc San Antonio, TX | $33,828,773 | $14,274,594 |
Housing And Community Services Inc San Antonio, TX | $78,883,961 | $25,153,792 |
Habitat For Humanity International Inc Tulsa, OK | $20,375,468 | $13,816,169 |
Front Steps Inc Austin, TX | $4,289,583 | $9,800,885 |
Operation Finally Home New Braunfels, TX | $6,586,831 | $9,808,854 |
Residential Realty Group I Inc A Delaware Corp Houston, TX | $5,107,430 | $0 |
Mccalls Community Homes Inc Ada, OK | $3,788,949 | $9,810,630 |