Culver Garden Court Inc
- Assets
- $1.2m
- Revenue
- $98.4k
- Investments
- $0.0
- Employees
- 0
- Location
- South Bend, IN
- Founding
- 03/2011
- Data as of
- 06/2021
- EIN
- 27-3217476
Organization Overview
Culver Garden Court Inc is located in South Bend, IN. The organization was established in 2011. 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. Culver Garden Court 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 06/2021, Culver Garden Court Inc generated $98.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $126.9k during the year ending 06/2021. While expenses have increased by 1.9% per year over the past 6 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
CULVER GARDEN COURT, INC. (AN INDIANA NOT-FOR-PROFIT CORPORATION) WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 13 UNIT APARTMENT COMMUNITY IN CULVER, INDIANA, KNOWN AS CULVER GARDEN COURT, PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED. THE CORPORATION HAS EXECUTED A REGULATORY AGREEMENT WITH HUD WHICH GOVERNS THE OPERATION OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION (FHA) SECTION OF HUD. THE CORPORATION HAS ALSO ENTERED INTO A PROJECT RENTAL ASSISTANCE CONTRACT(PRAC CONTRACT) WITH HUD. THE PRAC CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW-INCOME FAMILIES OR PERSONS AS PROVIDED BY THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CULVER GARDEN COURT, INC. (AN INDIANA NOT-FOR-PROFIT CORPORATION) WAS ORGANIZED TO CONSTRUCT, OWN AND OPERATE A 13 UNIT APARTMENT COMMUNITY IN CULVER, INDIANA, KNOWN AS CULVER GARDEN COURT, PURSUANT TO SECTION 202 OF THE NATIONAL HOUSING ACT, AS AMENDED. THE CORPORATION HAS EXECUTED A REGULATORY AGREEMENT WITH HUD WHICH GOVERNS THE OPERATION OF THE COMMUNITY WITH THE FEDERAL HOUSING ADMINISTRATION ("FHA") SECTION OF HUD. THE CORPORATION HAS ALSO ENTERED INTO A PROJECT RENTAL ASSISTANCE CONTRACT("PRAC CONTRACT") WITH HUD. THE PRAC CONTRACT IS A RENT ASSISTANCE PROGRAM FOR LOW-INCOME FAMILIES OR PERSONS AS PROVIDED BY THE SECTION 8 PROGRAM OF THE NATIONAL HOUSING ACT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Causey President | OfficerTrustee | 0.5 | $0 |
John Myers Vice President | OfficerTrustee | 0.5 | $0 |
Karen Gehrke Secretary | OfficerTrustee | 0.5 | $0 |
Bob Beiter Director | Trustee | 0.5 | $0 |
Loretta Peters Director | Trustee | 0.5 | $0 |
Linda Berndt Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,917 |
| 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 | $50,917 |
| Total Program Service Revenue | $46,014 |
| Investment income | $4 |
| 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 | $98,365 |
| 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 | $8,887 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,774 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $56 |
| Office expenses | $3,087 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,882 |
| Travel | $2,476 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,015 |
| Insurance | $222 |
| All other expenses | $0 |
| Total functional expenses | $126,911 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $489 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,324 |
| 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 | $1,687 |
| Net Land, buildings, and equipment | $1,110,891 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $50,552 |
| Intangible assets | $0 |
| Other assets | $4,175 |
| Total assets | $1,170,118 |
| Accounts payable and accrued expenses | $14,066 |
| Grants payable | $0 |
| Deferred revenue | $833 |
| 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 | $20,412 |
| Total liabilities | $35,311 |
| Net assets without donor restrictions | $1,134,807 |
| 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 | $1,170,118 |
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