Fairoaks Of Denton Incorporated
- Assets
- $1.9m
- Revenue
- $502.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Denton, TX
- Founding
- 04/1998
- Data as of
- 09/2023
- EIN
- 75-2738182
Organization Overview
Fairoaks Of Denton Incorporated is located in Denton, TX. The organization was established in 1998. 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. Fairoaks Of Denton Incorporated 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 09/2023, Fairoaks Of Denton Incorporated generated $502.5k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $531.5k during the year ending 09/2023. 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
TO PROVIDE HOUSING AND SERVICES TO LOWER INCOME ELDERLY AND DISABLED PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAIROAKS OF DENTON IS A NON-PROFIT CORPORATION ORGANIZED TO PROVIDED SUBSIDIZED HOUSING FOR THE LOWER INCOME ELDERLY AND DISABLED IN DENTON, TEXAS. FAIROAKS OF DENTON OPERATES A 41-UNIT HOUSING PROJECT FOR LOWER INCOME ELDERLY AND DISABLED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Willie E Rivers Vice Chair | OfficerTrustee | 0.1 | $0 |
Janice Hildenbrand Treasurer | OfficerTrustee | 0.1 | $0 |
Stacie Herlihy Chair | OfficerTrustee | 0.1 | $0 |
Adnan Zaidi Secretary | OfficerTrustee | 0.1 | $0 |
Chris Warren Director | Trustee | 0.1 | $0 |
David Evans Director | Trustee | 0.1 | $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 | $7,885 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,885 |
| Total Program Service Revenue | $492,927 |
| Investment income | $986 |
| 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 | $502,517 |
| 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 | $212,641 |
| Pension plan accruals and contributions | $4,754 |
| Other employee benefits | $32,603 |
| Payroll taxes | $8,179 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $629 |
| Fees for services: Accounting | $6,757 |
| 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 | $19,284 |
| Information technology | $15 |
| Royalties | $0 |
| Occupancy | $109,436 |
| Travel | $3,832 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $187 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,106 |
| Insurance | $54,329 |
| All other expenses | $540 |
| Total functional expenses | $531,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,093 |
| Savings and temporary cash investments | $318,844 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,038 |
| 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 | $1,488,514 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,750 |
| Total assets | $1,867,239 |
| Accounts payable and accrued expenses | $125,887 |
| Grants payable | $0 |
| Deferred revenue | $24,168 |
| 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 | $17,133 |
| Total liabilities | $167,188 |
| Net assets without donor restrictions | -$642,607 |
| Net assets with donor restrictions | $2,342,658 |
| 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 | $1,867,239 |