Carver Apartment Inc
- Assets
- $371.5k
- Revenue
- $410.9k
- Investments
- $0.0
- Employees
- 0
- Location
- West Columbia, SC
- Founding
- 06/2001
- Data as of
- 12/2023
- EIN
- 57-0537717
Organization Overview
Carver Apartment Inc is located in West Columbia, SC. The organization was established in 2001. According to its NTEE Classification (L25) the organization is classified as: Housing Rehabilitation, 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. Carver Apartment 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 12/2023, Carver Apartment Inc generated $410.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $508.1k during the year ending 12/2023. While expenses have increased by 6.5% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LOW INCOME HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWNERSHIP AND OPERATION OF A 32-UNIT APARTMENT COMMUNITY UNDER SECTION 221 (D)(3) OF THE NATIONAL HOUSING ACT, AS AMENDED, TO PROVIDE AFFORDABLE HOUSING TO LOW INCOME FAMILIES.
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 |
|---|---|---|---|
Patricia Anderson Trustee | Trustee | 0.5 | $0 |
Kenny Brown Trustee | Trustee | 0.5 | $0 |
Markus Chestnut Trustee | Trustee | 0.5 | $0 |
Michael Chestnut Chairman | Trustee | 0.5 | $0 |
James Davis Trustee | Trustee | 0.5 | $0 |
James Mike Fitzgerald Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $300,230 |
| 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 | $300,230 |
| Total Program Service Revenue | $110,718 |
| Investment income | $0 |
| 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 | $410,948 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $30,750 |
| Fees for services: Legal | $888 |
| Fees for services: Accounting | $5,820 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $208 |
| Office expenses | $37,484 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $119,649 |
| Travel | $1,787 |
| 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 | $30,352 |
| Insurance | $75,633 |
| All other expenses | $4,810 |
| Total functional expenses | $508,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $81,066 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,964 |
| 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 | $23,523 |
| Net Land, buildings, and equipment | $238,245 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $24,688 |
| Total assets | $371,486 |
| Accounts payable and accrued expenses | $15,491 |
| Grants payable | $0 |
| Deferred revenue | $1,626 |
| 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 | $136,385 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,028 |
| Total liabilities | $164,530 |
| Net assets without donor restrictions | $206,956 |
| 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 | $371,486 |