Ric Shelby Apartments Inc
- Assets
- $1.5m
- Revenue
- $114.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Gastonia, NC
- Founding
- 04/2013
- Data as of
- 06/2021
- EIN
- 45-5231181
Organization Overview
Ric Shelby Apartments Inc is located in Gastonia, NC. The organization was established in 2013. 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. Ric Shelby 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 06/2021, Ric Shelby Apartments Inc generated $114.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $164.6k during the year ending 06/2021. 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
TO OWN AND OPERATE A 15-UNIT APARTMENT COMPLEX UNDER SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT OF 1990.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO OWN AND OPERATE A 15-UNIT APARTMENT COMPLEX UNDER SECTION 811 OF THE NATIONAL AFFORDABLE HOUSING ACT OF 1990.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donyel Barber President | OfficerTrustee | 0 | $0 |
Paula Brinkley Secretary/treasurer | OfficerTrustee | 0 | $0 |
Bob Davis Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $63,685 |
| Investment income | $112 |
| 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 | $114,439 |
| Statement of Expenses | |
|---|---|
| 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 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 | $14,297 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,701 |
| 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 | $3,059 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,032 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $55,388 |
| Insurance | $9,177 |
| All other expenses | $0 |
| Total functional expenses | $164,593 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $562 |
| Savings and temporary cash investments | $85,903 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,680 |
| 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 | $151 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,061 |
| Total assets | $1,517,011 |
| Accounts payable and accrued expenses | $8,507 |
| Grants payable | $0 |
| Deferred revenue | $12 |
| 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 | $2,110,700 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,061 |
| Total liabilities | $2,122,280 |
| 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 |
| Total liabilities and net assets/fund balances | -$605,269 |
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