New Hope Apartments Inc
- Assets
- $538.3k
- Revenue
- $133.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Hohenwald, TN
- Founding
- 07/1999
- Data as of
- 06/2021
- EIN
- 62-1768268
Organization Overview
New Hope Apartments Inc is located in Hohenwald, TN. The organization was established in 1999. 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 06/2021, New Hope Apartments Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Hope 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 06/2021, New Hope Apartments Inc generated $133.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $163.7k during the year ending 06/2021. While expenses have increased by 0.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
RESIDENTIAL HOUSING PROJECT. THE ORGANIZATION OPERATES A 19-UNIT HOUSING PROJECT IN LAWRENCEBURG, TENNESSEE FOR THE BENEFIT OF PHYSICALLY DISABLED AND CHRONICALLY MENTALLY ILL PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES A 19-UNIT HOUSING PROJECT IN LAWRENCEBURG, TENNESSEE FOR THE BENEFIT OF PHYSICALLY DISABLED AND CHRONICALLY MENTALLY ILL PERSONS. THIS IS THE ORGANIZATIONS ONLY PROGRAM SERVICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry T Risner Executive Director | Officer | 1 | $0 |
John Galbreath President | Trustee | 1 | $0 |
Melody Basinger Board Member | Trustee | 1 | $0 |
Ann Galbreath Secretary | Trustee | 1 | $0 |
Judy Mayberry Board Member | Trustee | 1 | $0 |
Sharon Smith Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,181 |
| Investment income | $4 |
| 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 | $133,397 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $34,474 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,319 |
| Fees for services: Management | $11,015 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,124 |
| 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 | $5,435 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,532 |
| 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 | $39,853 |
| Insurance | $6,135 |
| All other expenses | $0 |
| Total functional expenses | $163,714 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,000 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7 |
| 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 | $3,839 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,264 |
| Total assets | $538,291 |
| Accounts payable and accrued expenses | $93,205 |
| Grants payable | $0 |
| Deferred revenue | $30 |
| 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 | $3,942 |
| Total liabilities | $97,177 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $441,114 |
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