Millner Terrace Housing Inc
- Assets
- $788.6k
- Revenue
- $396.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Duluth, GA
- Founding
- 07/1987
- Data as of
- 06/2022
- EIN
- 58-1737042
Organization Overview
Millner Terrace Housing Inc is located in Duluth, GA. The organization was established in 1987. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, 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. Millner Terrace Housing 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 06/2022, Millner Terrace Housing Inc generated $396.7k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $427.1k during the year ending 06/2022. While expenses have increased by 4.6% per year over the past 4 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF A 40 UNIT RESIDENTIAL APARTMENT COMPLEX FOR ELDERLY AND SELF-SUFFICIENT HANDICAPPED UNDER THE REGULATIONS OF THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT'S SECTION 202 HOUSING PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Ostholthoff President | 0 | $0 | |
Guy W Millner Vice President | 0 | $0 | |
Virginia W Millner Vice President | 0 | $0 | |
Guy W Millner Jr Secretary/treasurer | 0 | $0 | |
Patricia Mholder Assistant Secretary | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $391 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $396,332 |
| Total Revenue | $396,723 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $109,902 |
| Pension plans, employee benefits | $13,153 |
| Interest | $0 |
| Taxes | $8,798 |
| Depreciation | $37,722 |
| Occupancy | $129,763 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $112,631 |
| Total operating and administrative expenses | $427,119 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $427,119 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,088 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $19,964 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $15,743 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $518,649 |
| Other assets | $224,201 |
| Total assets | $788,645 |
| Accounts payable and accrued expenses | $23,827 |
| Grants payable | $0 |
| Deferred revenue | $225 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $13,387 |
| Total liabilities | $37,439 |