Greenway Presbyterian Apartments Inc
- Assets
- $3.9m
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 1
- Location
- Lafayette Hill, PA
- Founding
- 08/2003
- Data as of
- 12/2023
- EIN
- 86-1063722
Organization Overview
Greenway Presbyterian Apartments Inc is located in Lafayette Hill, PA. The organization was established in 2003. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenway Presbyterian Apartments 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 12/2023, Greenway Presbyterian Apartments Inc generated $7.4m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 32.3% each year . All expenses for the organization totaled $1.1m during the year ending 12/2023. While expenses have increased by 3.3% 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
THE ORGANIZATION OWNS AND OPERATES A 68-UNIT AFFORDABLE HOUSING PROJECT IN PHILADELPHIA, PA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ENGAGES IN THE OPERATION, MAINTENANCE, AND SUPPORT OF A 68-UNIT AFFORDABLE HOUSING APARTMENT BUILDING FOR THE ELDERLY AND PHYSICALLY DISABLED, OFFERING SUPPORT SERVICES AND RECREATIONAL ACTIVITIES TO FACILITATE INCREASED SOCIALIZATION AND ENRICHMENT FOR ALL RESIDENTS IN A POSITIVE AND WELCOMING ENVIRONMENT. 67 OF THE 68 UNITS ARE AVAILABLE TO RESIDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randall Stamper Chair | OfficerTrustee | 0.1 | $0 |
Albert Kelley Vice Chair | OfficerTrustee | 0.1 | $0 |
H Declan Brown Secretary | OfficerTrustee | 0.1 | $0 |
Judith Baker Board Member | Trustee | 0.1 | $0 |
Rev Michelle Holmes Board Member | Trustee | 0.1 | $0 |
William Batison Board Member | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $535,917 |
| 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 | $535,917 |
| Total Program Service Revenue | $285,955 |
| Investment income | $62 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,547,943 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,376,468 |
| 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 | $114,916 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $23,034 |
| Payroll taxes | $8,242 |
| Fees for services: Management | $46,112 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,145 |
| 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 | $29,155 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $510,504 |
| Travel | $145 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $691 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $265,633 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,050,668 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,428 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,353 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,012,038 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,169 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $727,579 |
| Total assets | $3,854,567 |
| Accounts payable and accrued expenses | $139,241 |
| Grants payable | $0 |
| Deferred revenue | $18,533 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $20,722 |
| 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 | $299,427 |
| Total liabilities | $477,923 |
| Net assets without donor restrictions | $3,376,644 |
| 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 | $3,854,567 |