Shelbourne Apartment Building Inc
- Assets
- $577.8k
- Revenue
- $168.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Miami Beach, FL
- Founding
- 08/1994
- Data as of
- 09/2021
- EIN
- 65-0457251
Organization Overview
Shelbourne Apartment Building Inc is located in Miami Beach, FL. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shelbourne Apartment Building 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 09/2021, Shelbourne Apartment Building Inc generated $168.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $175.5k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 6 years. 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
THE SHELBOURNE APARTMENT BUILDING INC IS A NONPROFIT ORGANIZATION INCORPORATED UNDER THE LAWS AND STATUTES OF THE STATE OF FLORIDA FOR THE PURPOSE OF PROVIDE DISABLED PERSONS WITH HOUSING FACILITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING FACILITIES TO LOW-INCOME PERSONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ahmed Martin Executive Director | OfficerTrustee | 2 | $0 |
Jeff Feldman Vice Chair | Officer | 2 | $0 |
Michael Hammon Chairman | Officer | 2 | $0 |
Cristian Arango II Chief Operating Officer | Officer | 2 | $0 |
Will Wiseheart Secretary | Officer | 2 | $0 |
Raymond Pereira Treasurer | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $93,535 |
| 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 | $93,535 |
| Total Program Service Revenue | $75,326 |
| Investment income | $28 |
| 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 | $168,916 |
| 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 | $15,656 |
| Pension plan accruals and contributions | $123 |
| Other employee benefits | $3,134 |
| Payroll taxes | $1,211 |
| Fees for services: Management | $14,815 |
| Fees for services: Legal | $387 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25 |
| Office expenses | $709 |
| Information technology | $1,624 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $221 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,730 |
| Insurance | $20,961 |
| All other expenses | $5,852 |
| Total functional expenses | $175,543 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,642 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,896 |
| 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 | $2,623 |
| Net Land, buildings, and equipment | $518,377 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,235 |
| Total assets | $577,773 |
| Accounts payable and accrued expenses | $4,054 |
| Grants payable | $0 |
| Deferred revenue | $2,944 |
| 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 | $22,195 |
| Total liabilities | $29,193 |
| Net assets without donor restrictions | -$1,016,122 |
| Net assets with donor restrictions | $1,564,702 |
| 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 | $577,773 |
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