Calvary Towers Inc
- Assets
- $1.2m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 4
- Location
- Norfolk, VA
- Founding
- 02/1983
- Data as of
- 10/2022
- EIN
- 52-1274710
Organization Overview
Calvary Towers Inc is located in Norfolk, VA. The organization was established in 1983. According to its NTEE Classification (L22) the organization is classified as: Senior Citizens Housing & Retirement Communities, under the broad grouping of Housing & Shelter and related organizations. As of 10/2022, Calvary Towers Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Calvary Towers 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 10/2022, Calvary Towers Inc generated $1.4m 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 $1.2m during the year ending 10/2022. While expenses have increased by 2.2% 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
THE ORGANIZATION OWNS AND OPERATES AN APARTMENT PROJECT UNDER SECTION 202 OF THE NATIONAL HOUSING ACT, FOR THE PURPOSES OF PROVIDING HOUSING FOR ELDERLY AND DISABLED PERSONS POSSESSING LIMITED FINANCIAL RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CALVARY TOWNERS IS A SECTION 8 LOW INCOME HOUSING PROJECT PROVIDING HOUSING TO ELIGIBLE ELDERLY AND HANDICAPPED PERSONS UNDER SECTION 202 OF U.S. DEPT. OF HOUSING AND URBAN DEVELOPMENT.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Columbus Grant President | OfficerTrustee | 4 | $0 |
Willie Mae Little Director | Trustee | 0.5 | $0 |
William Delk Director | Trustee | 0.5 | $0 |
Douglas M Pope Director | Trustee | 0.5 | $0 |
Sara Curry Director | Trustee | 0.5 | $0 |
Dianne Bacon Director | Trustee | 0.5 | $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 | $1,082,508 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,082,508 |
| Total Program Service Revenue | $300,643 |
| Investment income | $34 |
| 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 | $1,383,185 |
| 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 | $186,546 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $34,922 |
| Payroll taxes | $12,902 |
| Fees for services: Management | $82,499 |
| Fees for services: Legal | $4,758 |
| Fees for services: Accounting | $18,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $323 |
| Office expenses | $7,408 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $566,963 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $79,347 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $170,401 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,189,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $36,601 |
| Savings and temporary cash investments | $203,463 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,781 |
| 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 | $20,397 |
| Net Land, buildings, and equipment | $880,679 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $7,466 |
| Other assets | $0 |
| Total assets | $1,154,387 |
| Accounts payable and accrued expenses | $82,715 |
| Grants payable | $0 |
| Deferred revenue | $8,213 |
| 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 | $1,365,536 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $27,221 |
| Total liabilities | $1,483,685 |
| Net assets without donor restrictions | -$329,298 |
| 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 | $1,154,387 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Masonic Home Independent Living Ii Inc Masonic Home, KY | $142,516,912 | $16,410,935 |
The Glebe Inc Glen Allen, VA | $79,347,451 | $20,057,701 |
The Washington Center For Internships And Academic Seminars Washington, DC | $44,342,830 | $20,060,220 |
Homewood At Williamsport Md Inc Williamsport, MD | $33,819,654 | $18,842,651 |
Cypress Of Charlotte Club Inc Charlotte, NC | $4,602,507 | $19,033,502 |
Alliance Foundation Of Florida Inc Fairfax, VA | $3,980,019 | $2,209,632 |
Lake Prince Center Inc Newton, NC | $22,105,583 | $13,762,352 |
Lutheran Home At Trinity Oaks Inc Salisbury, NC | $16,250,206 | $13,832,203 |
Abes Garden Nashville, TN | $36,175,841 | $14,527,368 |
Wesley Manor Retirement Community Inc Louisville, KY | $9,224,359 | $9,135,157 |
Lifespire Of Virginia Glen Allen, VA | $66,161,909 | $8,820,978 |
Landow House Inc Rockville, MD | $22,817,674 | $9,183,243 |