Spring Meadows Inc
- Assets
- $958.7k
- Revenue
- $881.0k
- Investments
- $0.0
- Employees
- 8
- Location
- Springdale, AR
- Founding
- 10/1981
- Data as of
- 09/2023
- EIN
- 71-0533427
Organization Overview
Spring Meadows Inc is located in Springdale, AR. The organization was established in 1981. According to its NTEE Classification (L21) the organization is classified as: Low-Income & Subsidized Rental Housing, under the broad grouping of Housing & Shelter and related organizations. As of 09/2023, Spring Meadows Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Spring Meadows Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 09/2023, Spring Meadows Inc generated $881.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $849.9k during the year ending 09/2023. While expenses have increased by 0.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW INCOME HOUSING FOR THE ELDERLY THROUGH THE USE OF HUD'S SECTION 202 PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE LOW INCOME HOUSING FOR THE ELDERLY THROUGH THE USE OF HUD'S SECTION 202 PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rodney Weeks President | Trustee | 1 | $0 |
Jeff Desnhardt Vice President | Trustee | 1 | $0 |
Sharon Horwart Secretary/treasurer | Trustee | 1 | $0 |
Myrna Schwartz Director | Trustee | 1 | $0 |
Jeanne Harp Director | Trustee | 1 | $0 |
Don Ogden Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $527,487 |
| 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 | $527,487 |
| Total Program Service Revenue | $339,269 |
| Investment income | $14,238 |
| 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 | $880,994 |
| 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 | $226,146 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,495 |
| Payroll taxes | $16,758 |
| Fees for services: Management | $54,846 |
| Fees for services: Legal | $131 |
| Fees for services: Accounting | $15,505 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $180 |
| Office expenses | $8,118 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $282,980 |
| Travel | $725 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $48,250 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $98,476 |
| Insurance | $52,934 |
| All other expenses | $0 |
| Total functional expenses | $849,924 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,767 |
| Savings and temporary cash investments | $629,096 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $6,176 |
| Net Land, buildings, and equipment | $267,632 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $958,671 |
| Accounts payable and accrued expenses | $77,589 |
| 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 | $1,779,318 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,856,907 |
| Net assets without donor restrictions | -$898,236 |
| 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 | $958,671 |