Timber Ridge Apartments Inc
- Assets
- $3.0m
- Revenue
- $923.0k
- Investments
- $0.0
- Employees
- 9
- Location
- Westminster, MD
- Founding
- 05/1985
- Data as of
- 09/2022
- EIN
- 52-0909520
Organization Overview
Timber Ridge Apartments Inc is located in Westminster, MD. The organization was established in 1985. 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. As of 09/2022, Timber Ridge Apartments Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Timber Ridge 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 09/2022, Timber Ridge Apartments Inc generated $923.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $923.6k during the year ending 09/2022. While expenses have increased by 5.1% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING FACILITIES FOR THE LOW-INCOME ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OWNS AN APARTMENT COMPLEX OF 100 UNITS WHICH PROVIDES HOUSING FACILITIES TO THE LOW-INCOME ELDERLY. THE COMPLEX IS OPERATED PURSUANT TO SECTION 236 OF THE NATIONAL HOUSING ASSISTANCE PAYMENT PROGRAM. SUCH FACILITIES ARE REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jayson Luckenbaugh President | OfficerTrustee | 1 | $0 |
Janet E Kelly Secretary/treasurer | OfficerTrustee | 1 | $0 |
David Braune Director | Trustee | 1 | $0 |
Barbara Croft Director | Trustee | 1 | $0 |
Rosalie Gardner Director Until 12/21 | Trustee | 1 | $0 |
Ann Gifford Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $580,640 |
| 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 | $580,640 |
| Total Program Service Revenue | $342,114 |
| Investment income | $248 |
| 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 | $923,002 |
| 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 | $216,704 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,425 |
| Payroll taxes | $19,024 |
| Fees for services: Management | $87,569 |
| Fees for services: Legal | $1,050 |
| Fees for services: Accounting | $28,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,775 |
| Office expenses | $98,521 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $298,638 |
| 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 | $138,159 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $923,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,590 |
| Savings and temporary cash investments | $346,998 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,431 |
| 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 | $49,530 |
| Net Land, buildings, and equipment | $1,196,121 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,304,158 |
| Total assets | $3,012,828 |
| Accounts payable and accrued expenses | $38,109 |
| Grants payable | $0 |
| Deferred revenue | $12,808 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $48,313 |
| 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 | $0 |
| Total liabilities | $99,230 |
| Net assets without donor restrictions | $2,913,598 |
| 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 | $3,012,828 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Christian Relief Services Charities Inc Alexandria, VA | $142,752,068 | $55,470,301 |
Arundel Community Development Services Inc Annapolis, MD | $42,935,600 | $33,111,572 |
Nht Communities Washington, DC | $154,306,300 | $20,911,703 |
1260 Housing Development Corporation Philadelphia, PA | $75,955,661 | $16,577,131 |
Housing Development Corporation Midatlantic Lancaster, PA | $24,908,226 | $11,939,671 |
Milford Housing Development Corperation Milford, DE | $34,677,401 | $10,337,525 |
Project Plase Inc Baltimore, MD | $6,563,951 | $8,999,720 |
Norris Square Community Alliance Philadelphia, PA | $13,759,138 | $8,779,038 |
Ebed Community Improvement Inc Upper Marlboro, MD | $8,136,869 | $7,675,137 |
Lewinsville Retirement Residence McLean, VA | $23,915,511 | $4,142,115 |
Patricia And Mark Joseph Shelter Foundation Inc Baltimore, MD | $50,852,875 | $6,368,087 |
Affordable Housing Opportunities Inc Washington, DC | $42,188,796 | $3,175,376 |