Appletree Court

Organization Overview

Appletree Court is located in Breckenridge, MN. The organization was established in 1946. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Appletree Court 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, Appletree Court generated $68.0k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $80.1k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

APPLETREE COURT IS AN INDEPENDENT, INCOME-BASED, SENIOR HOUSING UNIT, ESTABLISHED TO PROVIDE CLEAN, COMFORTABLE, SAFE, AND AFFORDABLE HOUSING FOR ELDERLY, LOW-INCOME RESIDENTS OF THE COMMUNITY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

APPLETREE COURT WAS INCORPORATED AS A 501(C)(3) INDEPENDENT, INCOME-BASED, SENIOR HOUSING UNIT IN 1998. THIS 20 APARTMENT COMPLEX WAS ESTABLISHED TO PROVIDE CLEAN, COMFORTABLE, SAFE, AND AFFORDABLE HOUSING FOR ELDERLY, LOW-INCOME RESIDENTS OF THE BRECKENRIDGE COMMUNITY. APPLETREE COURT'S 11-MEMBER BOARD OF DIRECTORS AND THE DIRECTOR OVERSEE THE OPERATIONS OF THE HOUSING COMPLEX AND PROVIDE REDUCED RENTS TO ITS TENANTS. THE RENT ON THE APARTMENTS IS ADJUSTED BASED ON EACH TENANT'S INCOME. IF THE RENT IS LESS THAN THE HOUSING AND URBAN DEVELOPMENT (HUD) ESTABLISHED MINIMUM, $410, HUD MAKES UP THE DIFFERENCE. HOWEVER, $410 IS LESS THAN THE MARKET RATE FOR SIMILAR HOUSING DEVELOPMENTS IN OUR COMMUNITY, THUS ALLOWING THE TENANTS TO LIVE IN HOUSING OF A HIGHER QUALITY THAN THEY COULD OTHERWISE AFFORD. APPLETREE COURT ALSO PROVIDES SOCIAL AND RECREATIONAL ACTIVITIES FOR THE TENANTS OF THE COMPLEX. IN ADDITION, APPLETREE COURT PROVIDES MEETING SPACE FREE OF CHARGE TO SEVERAL HEALTH-RELATED COMMUNITY GROUPS, SUCH AS WEIGHT LOSS, GRIEF SUPPORT, ETC. TENANTS ARE ALSO ENCOURAGED TO USE THE COMMUNITY AREAS FREE OF CHARGE. THE COMMUNITY BENEFIT AMOUNT IS $0 FOR FY21 DUE TO PUBLIC HEALTH RESTRICTIONS ON IN-PERSON, INDOOR GATHERINGS DURING THE COVID-19 PANDEMIC. HOPEFULLY IN FY22 RESTRICTIONS WILL BE LIFTED AND TENANTS CAN USE COMMUNITY AREAS AGAIN.


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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$66,164
Investment income $195
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 $67,986

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