Bethel Apartments Inc
- Assets
- $2.9m
- Revenue
- $595.8k
- Investments
- $0.0
- Employees
- 8
- Location
- Alexandria, LA
- Founding
- 08/1976
- Data as of
- 06/2022
- EIN
- 72-0784109
Organization Overview
Bethel Apartments Inc is located in Alexandria, LA. The organization was established in 1976. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Bethel Apartments Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bethel Apartments 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 06/2022, Bethel Apartments Inc generated $595.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $707.2k during the year ending 06/2022. While expenses have increased by 2.5% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ADEQUATE DECENT HOUSING TO VERY LOW AND LOW INCOME FAMILIES IN ALEXANDRIA LOUISIANA UTILIZING SECTION 202 OF THE FEDERAL HOUSING ACT AND SECTION 8 OF THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENTS PROGRAMS TO ASSIST VERY LOW AND LOW INCOME FAMILIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BETHEL APARTMENTS, INC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Powell Exec. Vice President | OfficerTrustee | 1 | $0 |
Ruby W Smith Historian | Trustee | 1 | $0 |
Beatrice Vanzant Public Relations | Trustee | 1 | $0 |
Eddie Mae W Washington Vice President | OfficerTrustee | 1 | $0 |
Kim D Grayson Secretary | OfficerTrustee | 1 | $0 |
Fred Woolfolk Resident Liaison | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $61 |
| 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 | $595,817 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $118,712 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,264 |
| Fees for services: Management | $33,251 |
| Fees for services: Legal | $1,250 |
| Fees for services: Accounting | $6,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,402 |
| Office expenses | $33,255 |
| Information technology | $0 |
| 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 | $0 |
| Interest | $71,641 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $94,737 |
| Insurance | $94,539 |
| All other expenses | $0 |
| Total functional expenses | $707,248 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,863 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,005 |
| 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 | $47,864 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $296,139 |
| Total assets | $2,898,638 |
| Accounts payable and accrued expenses | $322,488 |
| Grants payable | $0 |
| Deferred revenue | $9,908 |
| 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 | $3,704,216 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,411 |
| Total liabilities | $4,043,023 |
| Net assets without donor restrictions | -$1,144,385 |
| 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 |
| Total liabilities and net assets/fund balances | -$1,144,385 |