South 7 Senior Housing
- Assets
- $2.0m
- Revenue
- $132.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Port Townsend, WA
- Founding
- 08/2004
- Data as of
- 12/2023
- EIN
- 73-1676594
Organization Overview
South 7 Senior Housing is located in Port Townsend, WA. The organization was established in 2004. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, 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. South 7 Senior Housing 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 12/2023, South 7 Senior Housing generated $132.5k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $186.8k during the year ending 12/2023. While expenses have increased by 2.4% per year over the past 9 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
SOUTH SEVEN SENIOR VILLAGE IS 15 UNITS OF SUPPORTIVE HOUSING DEVELOPED UNDER HUD SECTION 202 FOR THE BENEFIT OF LOW INCOME SENIORS EARNING LESS THAN 50% OF THE AREA MEDIAN INCOME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTIVE PERMANENT HOUSING FOR 15 LOW INCOME SENIORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sara Martinez Member | Trustee | 0 | $0 |
Margaret Webster Member | Trustee | 0 | $0 |
Tamara Lidster Member | Officer | 40 | $0 |
Karen Bondurant Member | Officer | 40 | $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 | $131,547 |
| Investment income | $32 |
| 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 | $132,537 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $58,474 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $127 |
| Advertising and promotion | $0 |
| Office expenses | $2,940 |
| Information technology | $3,175 |
| Royalties | $0 |
| Occupancy | $51,864 |
| Travel | $2,922 |
| 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 | $52,535 |
| Insurance | $8,218 |
| All other expenses | $0 |
| Total functional expenses | $186,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,478 |
| Savings and temporary cash investments | $106,256 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,530 |
| 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 | $1,700,566 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $111,734 |
| Total assets | $1,958,564 |
| Accounts payable and accrued expenses | $76,107 |
| Grants payable | $0 |
| Deferred revenue | $507 |
| 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 | $5,099 |
| Total liabilities | $81,713 |
| Net assets without donor restrictions | $583,646 |
| Net assets with donor restrictions | $1,293,205 |
| 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 | $1,958,564 |