Passman Plaza Ii Inc is located in Monroe, LA. The organization was established in 1996. 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. Passman Plaza Ii 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 06/2022, Passman Plaza Ii Inc generated $147.7k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $223.3k during the year ending 06/2022. 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
THIS ORGANIZATION OPERATES 39 UNITS OF GOVERNMENT ASSISTED HOUSING FOR THE ELDERLY AND HANDICAPPED IN CARRYING OUT ITS EXEMPT PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES ASSISTED LIVING FOR THE ELDERLY AND HANDICAPPED.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Cheryl Farmer Secretary-Tr | Officer | $0 | |
Joe Farr President | Officer | $0 | |
William Smart Executive Di | Officer | $0 | |
Loretta Hudson Vice Preside | Officer | $0 | |
Patricia Gix Board Member | Trustee | $0 | |
Hal Hinchcliffe Board Member | Trustee | $0 |
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 | $146,908 |
Investment income | $804 |
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 | $147,712 |
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 | $41,200 |
Pension plan accruals and contributions | $4,038 |
Other employee benefits | $9,901 |
Payroll taxes | $3,019 |
Fees for services: Management | $0 |
Fees for services: Legal | $875 |
Fees for services: Accounting | $6,515 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $65 |
Office expenses | $0 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $22,557 |
Travel | $35 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $51,278 |
Insurance | $0 |
All other expenses | $4,753 |
Total functional expenses | $223,296 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $5,917 |
Savings and temporary cash investments | $591,397 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $439 |
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 | $18,729 |
Net Land, buildings, and equipment | $914,848 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $17,146 |
Total assets | $1,548,476 |
Accounts payable and accrued expenses | $2,483 |
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 | $1,997,500 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $138,089 |
Total liabilities | $2,138,072 |
Net assets without donor restrictions | $0 |
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 | -$589,596 |
Total liabilities and net assets/fund balances | $1,548,476 |
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