1717 Ridge Apartments Inc
- Assets
- $59.7m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 04/2015
- Data as of
- 06/2021
- EIN
- 80-0949310
Organization Overview
1717 Ridge Apartments Inc is located in Dallas, TX. The organization was established in 2015. According to its NTEE Classification (Y30) the organization is classified as: Pension & Retirement Funds, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2021, 1717 Ridge Apartments Inc generated $2.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $261.8k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.3%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE AS A TITLE HOLDING CORPORATION WITHIN THE MEANING OF IRC SECTION 501(C)(25) AND HOLD TITLE TO REAL PROPERTY ON BEHALF OF PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF NEVADA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
1717 RIDGE APARTMENTS, INC. OPERATES AS A TITLE HOLDING CORPORATION WITHIN THE MEANING OF IRC SECTION 501(C)(25) AND HOLDSTITLE TO REAL PROPERTY ON BEHALF OF PUBLIC EMPLOYEES' RETIREMENTSYSTEM OF NEVADA (RETIREMENT SYSTEM). THE ORGANIZATION COLLECTSTHE INCOME FROM THE PROPERTY AND REMITS IT TO THE RETIREMENTSYSTEM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Kirby President | Officer | 1 | $0 |
Jason W Geer Vp/sec | Officer | 1 | $0 |
Bert J Crouch Vp/asst Sec | Officer | 1 | $0 |
Jeff Cavanaugh Vp/asst Sec | Officer | 1 | $0 |
Jackson Lapin Vp/asst Sec | Officer | 1 | $0 |
Chris Cleghorn Vp/asst Sec | Officer | 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 | $0 |
| Investment income | $296 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,340,520 |
| 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 | $2,340,816 |
| 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 | $261,824 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| 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 | $0 |
| Total functional expenses | $261,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $433,391 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $169,660 |
| 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 | $32,289 |
| Net Land, buildings, and equipment | $71,384,339 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | -$12,278,509 |
| Total assets | $59,741,170 |
| Accounts payable and accrued expenses | $1,117,937 |
| Grants payable | $0 |
| Deferred revenue | $58,727 |
| 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 | $7,143 |
| Total liabilities | $1,183,807 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $10 |
| Paid-in or capital surplus, or land, building, or equipment fund | $73,260,230 |
| Retained earnings, endowment, accumulated income, or other funds | -$14,702,877 |
| Total liabilities and net assets/fund balances | $59,741,170 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Altria Client Services Long-Term Disability Trust Plano, TX | $71,923,559 | $8,055,781 |
Baptist Community Affordable Housing Foundation Amarillo, TX | $11,620,988 | $7,495,776 |
1717 Ridge Apartments Inc Dallas, TX | $59,741,170 | $2,340,816 |
Laredo Regional Food Bank Inc Laredo, TX | $167,833 | $136,090 |
Pauline Revere Thayer Memorial Pension Fund Dallas, TX | $652,717 | $126,825 |
C O M Utility And Maintenance Trust Midland, TX | $421,908 | $0 |
Department Of Texas Korean War Veterans Association Inc Copperas Cove, TX | $26,777 | $11,974 |
City Of Cammack Village Employees Retirement Assistance Trust Little Rock, AR | $171,506 | $0 |