Asbury Dwellings Inc
- Assets
- $7.2m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 09/1980
- Data as of
- 12/2022
- EIN
- 52-1190661
Organization Overview
Asbury Dwellings Inc is located in Washington, DC. The organization was established in 1980. 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. Asbury Dwellings 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, Asbury Dwellings Inc generated $3.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $3.0m during the year ending 12/2022. While expenses have increased by 1.7% per year over the past 8 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 SUBSIDIZED HOUSING TO ELDERLY AND CITIZENS WITH DISABILITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SUBSIDIZED HOUSING TO ELDERLY AND CITIZENS WITH DISABILITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Audrey Drake Vice President | OfficerTrustee | 1.5 | $0 |
Samuel J Boyd Jr Board Member | Trustee | 1.5 | $0 |
Jacqueline T Richardson Secretary | OfficerTrustee | 1.5 | $0 |
Steve Yearwood President | OfficerTrustee | 0.5 | $0 |
Terri Thompson Mallet Board Member | Trustee | 0.5 | $0 |
Rev Dr James Shopshire Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Edgewood Management Corporation Management Services | 12/30/20 | $186,823 |
A&d Security Consultants Inc Security | 12/30/20 | $175,734 |
Cass Information Systems Inc Utility Bill Management | 12/30/20 | $265,741 |
Capitol Floors Inc Install Flooring | 12/30/20 | $321,426 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,708,897 |
| 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 | $2,708,897 |
| Total Program Service Revenue | $657,587 |
| Investment income | $3,894 |
| 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 | $3,370,378 |
| 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 | $338,658 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,910 |
| Payroll taxes | $25,112 |
| Fees for services: Management | $171,391 |
| Fees for services: Legal | $8,278 |
| Fees for services: Accounting | $40,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,094 |
| Office expenses | $39,767 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $464,379 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $580,486 |
| Insurance | $274,233 |
| All other expenses | $139,845 |
| Total functional expenses | $3,016,081 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10 |
| Savings and temporary cash investments | $629,324 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70,322 |
| 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 | $59,579 |
| Net Land, buildings, and equipment | $4,121,786 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $171,531 |
| Other assets | $2,141,687 |
| Total assets | $7,194,239 |
| Accounts payable and accrued expenses | $340,584 |
| Grants payable | $0 |
| Deferred revenue | $31,252 |
| 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 | $6,840,276 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $39,144 |
| Total liabilities | $7,251,256 |
| Net assets without donor restrictions | -$57,017 |
| 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 | $7,194,239 |