Spring Meadows Inc
- Assets
- $955.1k
- Revenue
- $843.9k
- Investments
- $0.0
- Employees
- 6
- Location
- Springdale, AR
- Founding
- 10/1981
- Data as of
- 09/2022
- 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 09/2022, Spring Meadows Inc employed 6 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 09/2022, Spring Meadows Inc generated $843.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $833.3k during the year ending 09/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE AFFORDABLE HOUSING FOR SENIOR CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING FOR THE ELDERLY. SERVED 81 SENIOR CITIZENS IN THE SPRINGDALE, AR AREA FOR THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Horwart Secretary/treas | Officer | 1 | $0 |
Myrna Schwartz President | Officer | 1 | $0 |
Jeff Denhart Vice President | Officer | 1 | $0 |
Rodney Weeks Director | Trustee | 1 | $0 |
Sharon Wright Director | Trustee | 1 | $0 |
Jeanne Harp Director | Trustee | 1 | $0 |
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 | $843,460 |
| Investment income | $392 |
| 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 | $843,852 |
| 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 | $192,590 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,456 |
| Payroll taxes | $15,225 |
| Fees for services: Management | $61,138 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,625 |
| 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 | $0 |
| Information technology | $37,139 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $239,354 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $55,281 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $100,933 |
| Insurance | $86,540 |
| All other expenses | $0 |
| Total functional expenses | $833,281 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,838 |
| Savings and temporary cash investments | $531,835 |
| 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 | $5,321 |
| Net Land, buildings, and equipment | $366,107 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $955,101 |
| Accounts payable and accrued expenses | $74,686 |
| 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 | $1,848,847 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,923,533 |
| Net assets without donor restrictions | -$968,432 |
| 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 | $955,101 |
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Trinity Affordable Housing Corporation Austin, TX | $27,521,509 | $8,167,693 |
Assisting Texas With Housing Inc Austin, TX | $21,990,420 | $4,581,783 |
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Louisiana Housing Assistance Corporation Alexandria, LA | $350,109 | $3,738,733 |
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Affordable Community Housing Trust Edmond, OK | $6,149,448 | $2,689,134 |
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