Elite Choice Properties Inc
- Assets
- $4.9m
- Revenue
- $859.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Milledgeville, GA
- Founding
- 11/2017
- Data as of
- 09/2021
- EIN
- 81-3886910
Organization Overview
Elite Choice Properties Inc is located in Milledgeville, GA. The organization was established in 2017. 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. Elite Choice Properties 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 09/2021, Elite Choice Properties Inc generated $859.9k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 42.7% each year . All expenses for the organization totaled $1.2m during the year ending 09/2021. While expenses have increased by 43.7% per year over the past 4 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE HOUSING UNDER HUD'S MULTI-FAMILY PROGRAM. THE PROPERTY CONSISTS OF 149 FAMILY UNITS. THIS PROPERTY TRANSITIONED FROM HUD'S PUBLIC HOUSING PROGRAM TO HUD'S MULTI-FAMILY PROGRAM UNDER HUD'S RAD PROGRAM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING UNDER HUD'S MULTI-FAMILY PROGRAM. THE PROPERTY CONSISTS OF 149 FAMILY UNITS. THIS PROPERTY TRANSITIONED FROM HUD'S PUBLIC HOUSING PROGRAM TO HUD'S MULTI-FAMILY PROGRAM UNDER HUD'S RAD PROGRAM.
PROVIDE HOUSING UNDER HUD'S MULTI-FAMILY PROGRAM. THE PROPERTY CONSISTS OF 149 FAMILY UNITS. THIS PROPERTY TRANSITIONED FROM HUD'S PUBLIC HOUSING PROGRAM TO HUD'S MULTI-FAMILY PROGRAM UNDER HUD'S RAD PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Corcoran Executive Director | Officer | 2 | $0 |
Dexter Ricks Chairman | Trustee | 2 | $0 |
Vonetta Martin Vice Chair | Trustee | 2 | $0 |
Owen Pittman Commissioner | Trustee | 2 | $0 |
Randy Clark Commissioner | Trustee | 2 | $0 |
Benjamin Lewis Commissioner | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $724,061 |
| 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 | $724,061 |
| Total Program Service Revenue | $134,576 |
| Investment income | $1,285 |
| 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 | $859,922 |
| 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 | $154,667 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,798 |
| Payroll taxes | $0 |
| Fees for services: Management | $76,678 |
| Fees for services: Legal | $1,160 |
| Fees for services: Accounting | $21,165 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25 |
| Office expenses | $30,161 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $419,967 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $142,336 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $151,775 |
| Insurance | $33,090 |
| All other expenses | $0 |
| Total functional expenses | $1,183,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,617 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $49,352 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $8,525 |
| Prepaid expenses and deferred charges | $18,659 |
| Net Land, buildings, and equipment | $4,445,721 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $332,678 |
| Total assets | $4,860,552 |
| Accounts payable and accrued expenses | $208,835 |
| Grants payable | $0 |
| Deferred revenue | $6,108 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $18,083 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $3,017,068 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $485,306 |
| Total liabilities | $3,735,400 |
| Net assets without donor restrictions | $1,125,152 |
| 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 | $4,860,552 |
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