Abtk Inc
- Assets
- $1.9m
- Revenue
- $314.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Fennimore, WI
- Founding
- 02/1994
- Data as of
- 12/2022
- EIN
- 39-1763109
Organization Overview
Abtk Inc is located in Fennimore, WI. The organization was established in 1994. 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. Abtk 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 12/2022, Abtk Inc generated $314.1k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $271.8k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FEDERALLY ASSISTED AND REGULATED (BY USDA RURAL DEVELOPMENT) AFFORDABLE HOUSING COMPLEXES THAT PROVIDE LOW-COST RENTAL UNITS TO LOW-INCOME FAMILIES AND ELDERLY TENANTS IN RURAL COMMUNITIES OF WISCONSIN AND ILLINOIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES AFFORDABLE RENTAL HOUSING TO LOW-INCOME FAMILIES AND ELDERLY TENANTS IN RURAL COMMUNITIES WITHIN WISCONSIN AND ILLINOIS. TENANT RENT PAYMENTS ARE CALCULATED AS A PERCENTAGE OF THEIR TOTAL INCOME AND ARE SUBJECT TO FEDERAL GUIDELINES. THE ORGANIZATION PROVIDES MORE THAN 50 UNITS OF RENTAL HOUSING AND HAS ACHIEVED APPROXIMATELY 90% OCCUPANCY IN RECENT YEARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda M Kittleson President/treasurer | OfficerTrustee | 1 | $0 |
Ty J Kittleson Vice President | OfficerTrustee | 1 | $0 |
Katherine R Rice Secretary | OfficerTrustee | 1 | $0 |
Kari Addison Member | Trustee | 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 | $272,175 |
| Investment income | $2,458 |
| 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 | $314,054 |
| 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 | $21,544 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,388 |
| Payroll taxes | $3,532 |
| Fees for services: Management | $16,307 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $16 |
| Office expenses | $5,024 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $60,368 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $32,588 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,889 |
| Insurance | $19,460 |
| All other expenses | $6,595 |
| Total functional expenses | $271,845 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,255 |
| Savings and temporary cash investments | $266,466 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,486 |
| 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 | $511,709 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,068,308 |
| Total assets | $1,917,224 |
| Accounts payable and accrued expenses | $39,503 |
| Grants payable | $0 |
| Deferred revenue | $686 |
| 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 | $1,024,411 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $112,233 |
| Total liabilities | $1,176,833 |
| Net assets without donor restrictions | $0 |
| 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 | $740,391 |
| Total liabilities and net assets/fund balances | $1,917,224 |