Ahepa 23 Inc
- Assets
- $248.9k
- Revenue
- $3.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Montgomery, AL
- Founding
- 07/1984
- Data as of
- 06/2023
- EIN
- 63-0877902
Organization Overview
Ahepa 23 Inc is located in Montgomery, AL. The organization was established in 1984. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. Ahepa 23 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 06/2023, Ahepa 23 Inc generated $3.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (60.1%) each year. All expenses for the organization totaled $112.4k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
AHEPA 23, INC. IS A NOT-FOR-PROFIT CORPORATION FORMED IN ACCORDANCE WITH THE NOT-FOR-PROFIT STATUTES OF THE STATE OF ALABAMA. THE CORPORATION WAS ORGANIZED TO OWN AND OPERATE A 50-UNIT APARTMENT COMMUNITY IN MONTGOMERY, ALABAMA, KNOWN AS AHEPA 23 APARTMENTS, PURSUANT TO SECTION 202 OF THE NATIONAL AFFORDABLE HOUSING ACT, AS AMENDED. THE SPONSOR OF THE CORPORATION IS AHEPA NATIONAL HOUSING CORPORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ike Gulas President | 1 | $0 | |
John Zourzoukis Vice President | 1 | $0 | |
Michael Pihakis Treasurer | 1 | $0 | |
John Grossomanides Secretary | 1 | $0 | |
James Gelis Director | 1 | $0 | |
Tasos Kalantzis Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,248 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $44 |
| Total Revenue | $3,292 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $75,029 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $1,046 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $30,179 |
| Total operating and administrative expenses | $112,354 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $112,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $425 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $616 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $159,000 |
| Other assets | $88,814 |
| Total assets | $248,855 |
| Accounts payable and accrued expenses | $100,430 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $1,807,928 |
| Other liabilities | $462,545 |
| Total liabilities | $2,370,903 |