Residential Opportunities Incorporated
- Assets
- $198.0k
- Revenue
- $112.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Farmville, VA
- Founding
- 10/1987
- Data as of
- 06/2022
- EIN
- 52-1404696
Organization Overview
Residential Opportunities Incorporated is located in Farmville, VA. The organization was established in 1987. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Residential Opportunities Incorporated 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 06/2022, Residential Opportunities Incorporated generated $112.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $154.6k during the year ending 06/2022. 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 SECTION 202 HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
TIMBERLAKE VILLAGE APARTMENTS PROJECT- A RENTAL HOUSING PROJECT TO HOUSE ELDERLY FAMILIES AND ELDERLY PERSONS IN ACCORDANCE WITH SECTION 202, NATIONAL HOUSING ACT OF 1959.
TIMBERLAKE VILLAGE APARTMENTS PROJECT- A RENTAL HOUSING PROJECT TO HOUSE ELDERLY FAMILIES AND ELDERLY PERSONS IN ACCORDANCE WITH SECTION 202, NATIONAL HOUSING ACT OF 1959.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sharon Smith Secretary/treasurer | OfficerTrustee | 1 | $0 |
Nemiah Braxton President | OfficerTrustee | 2 | $0 |
Zachariah Kowalski Vice-President | OfficerTrustee | 1 | $0 |
Pamela Decamp Director | Trustee | 1 | $0 |
Keith Coro Director | Trustee | 1 | $0 |
Rian Neuberger Director | Trustee | 2 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $55,126 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $54,295 |
| 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 | $112,897 |
| 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 | $29,542 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,603 |
| Payroll taxes | $2,260 |
| Fees for services: Management | $10,260 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,000 |
| 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 | $779 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,905 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $27,503 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,152 |
| Insurance | $4,938 |
| All other expenses | $2,539 |
| Total functional expenses | $154,573 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,056 |
| Savings and temporary cash investments | $19,718 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,756 |
| 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 | $1,799 |
| Net Land, buildings, and equipment | $167,640 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $197,969 |
| Accounts payable and accrued expenses | $5,522 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $292,286 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $112,091 |
| Total liabilities | $409,899 |
| Net assets without donor restrictions | -$211,930 |
| 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 | $197,969 |
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|---|---|---|
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Arbor Acres United Methodist Retirement Community Inc Winstonsalem, NC | $155,220,604 | $40,394,713 |
Chapel Hill Residential Retirement Center Inc Chapel Hill, NC | $120,640,930 | $31,949,437 |
Stoddard Baptist Global Care Washington, DC | $21,239,255 | $34,652,539 |
Carolina Village Inc Hendersonville, NC | $124,169,436 | $34,185,742 |
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Village At Orchard Ridge Inc Frederick, MD | $155,766,299 | $22,895,299 |
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Mercy Ridge Inc Timonium, MD | $148,105,442 | $23,349,399 |
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