Metro Nashville Teachers Apartment Inc
- Assets
- $5.8m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Nashville, TN
- Founding
- 05/2009
- Data as of
- 12/2023
- EIN
- 62-6050949
Organization Overview
Metro Nashville Teachers Apartment Inc is located in Nashville, TN. The organization was established in 2009. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metro Nashville Teachers Apartment 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, Metro Nashville Teachers Apartment Inc generated $1.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $889.2k during the year ending 12/2023. While expenses have increased by 1.2% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE INDEPENDENT AFFORDABLE HOUSING FOR SENIORS 62 AND OLDER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED A HIGH QUALITY RESIDENTIAL EXPERIENCE FOR LOWER INCOME SENIOR CITIZENS AT THE MOST AFFORDABLE RATES POSSIBLE BY OPERATING A 136-UNIT APARTMENT COMPLEX IN NASHVILLE, TENNESSEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Warren D Smith III Chairperson | OfficerTrustee | 2 | $0 |
David Rawlings Director | Trustee | 2 | $0 |
Luanne Pitts Waltemath Director | Trustee | 2 | $0 |
Robert H Napier Treasurer | OfficerTrustee | 2 | $0 |
James Jim Crossman Director | Trustee | 2 | $0 |
Steve Davis Secretary | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Orion Building Corporation Window Installation | 12/30/21 | $700,455 |
Freeman Webb Management Company | 12/30/21 | $230,556 |
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 | $1,158,246 |
| Investment income | $36,410 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $65,909 |
| 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 | $1,276,823 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $50,913 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,872 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $141 |
| Advertising and promotion | $1,197 |
| Office expenses | $8,354 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $426,474 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $24,639 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $118,857 |
| Insurance | $42,122 |
| All other expenses | $0 |
| Total functional expenses | $889,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,959 |
| Savings and temporary cash investments | $1,903,216 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,807 |
| 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 | $47,726 |
| Net Land, buildings, and equipment | $3,563,675 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $98,299 |
| Total assets | $5,798,682 |
| Accounts payable and accrued expenses | $46,729 |
| Grants payable | $0 |
| Deferred revenue | $7,518 |
| 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 | $665,558 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $91,983 |
| Total liabilities | $811,788 |
| Net assets without donor restrictions | $4,986,894 |
| 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 | $5,798,682 |