Bethany Place Inc
- Assets
- $2.1m
- Revenue
- $70.4k
- Investments
- $0.0
- Employees
- 3
- Location
- Bethany, OK
- Founding
- 11/1977
- Data as of
- 06/2023
- EIN
- 73-0952619
Organization Overview
Bethany Place Inc is located in Bethany, OK. The organization was established in 1977. 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 06/2023, Bethany Place Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bethany Place 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 06/2023, Bethany Place Inc generated $70.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (31.7%) each year. All expenses for the organization totaled $1.1m during the year ending 06/2023. 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
LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOW INCOME HOUSING ON A LEASE/RENTAL BASIS. PROPERTY WAS FORMERLY UNDER THE REGULATIONS OF THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPEMENT (HUD), BUT NOW AFTER THE PASSING OF HUD TIME RESTRICTIONS, IS OPERATED FOR THE BENEFIT OF LOW INCOME TENANTS ON AN INDEPENDENT BASIS. PROPERTY WAS SOLD IN APRIL OF 2022. THE ORGANIZATION WILL MANAGE THE PROCEEDS FROM THE SALE ACCORDING TO THEIR BY-LAWS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Adams Member | Trustee | 1 | $0 |
Kerry Albright Member | Trustee | 1 | $0 |
Bobby Dixon Member | Trustee | 1 | $0 |
Jim Dunn President | Trustee | 1 | $0 |
Kent Gering Member | Trustee | 1 | $0 |
Coy League Member | 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 | $39 |
| Investment income | $68,115 |
| 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 | $70,357 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,055,168 |
| 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 | $3,125 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $267 |
| Fees for services: Management | $15,000 |
| Fees for services: Legal | $490 |
| Fees for services: Accounting | $465 |
| 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 | $348 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $873 |
| Total functional expenses | $1,075,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,072,826 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,072,826 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $2,072,826 |
| 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 | $2,072,826 |
Grants Awarded
Over the last fiscal year, Bethany Place Inc has awarded $1,055,168 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
REACHING OUR CITY INC PURPOSE: COMMUNITY SERVICE | $300,000 |
JUBILEE PARTNERS PURPOSE: COMMUNITY SERVICE | $40,000 |
BRANCH 15 INC PURPOSE: COMMUNITY SERVICE | $5,168 |
TULAKES PURPOSE: COMMUNITY SERVICE | $100,000 |
BETHANY 1ST CHURCH OF THE NAZARENE PURPOSE: COMMUNITY SERVICE | $350,000 |
BETHANY COMMUNITY FOUNDATION PURPOSE: COMMUNITY SERVICE | $150,000 |