Holston Terrace Inc
- Assets
- $588.5k
- Revenue
- $315.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Kingsport, TN
- Founding
- 05/1990
- Data as of
- 03/2022
- EIN
- 58-1857292
Organization Overview
Holston Terrace Inc is located in Kingsport, TN. The organization was established in 1990. 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. Holston Terrace 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 03/2022, Holston Terrace Inc generated $315.3k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $294.9k during the year ending 03/2022. 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
TO ENGAGE IN ACTIVITIES TO PROMOTE ECONOMIC DEVELOPMENT IN THE CITY OF KINGSPORT, TENNESSEE INCLUDING BUT NOT LIMITED TO PROMOTION OF ACTIVITIES FOR LOW-INCOME HOUSING OPPORTUNITIES AS WELL AS AID IN DEVELOPMENT AND OVERSIGHT OF COMMUNITY BETTERMENT PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tony Jennings Board Member | 2 | $0 | |
Larry Estepp Vice-Chairperson | 2 | $0 | |
Esther Rodolphe Chairperson | 2 | $0 | |
Seth Jervis Board Member | 2 | $0 | |
Linda Calvert Board Member | 2 | $0 | |
Terry Cunningham Secretary | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $159,713 |
| Interest on Savings | $208 |
| 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 | $155,396 |
| Total Revenue | $315,317 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $45,704 |
| Pension plans, employee benefits | $19,115 |
| Interest | $48,129 |
| Taxes | $3,563 |
| Depreciation | $48,137 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $109,137 |
| Total operating and administrative expenses | $294,937 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $294,937 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $179,468 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $18,349 |
| 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 | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $383,601 |
| Other assets | $7,072 |
| Total assets | $588,490 |
| Accounts payable and accrued expenses | $187,472 |
| Grants payable | $0 |
| Deferred revenue | $1,350 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $764,708 |
| Other liabilities | $10,501 |
| Total liabilities | $964,031 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Carolina Village Inc Hendersonville, NC | $124,169,436 | $34,185,742 |
Galloway Ridge Inc Pittsboro, NC | $130,866,786 | $36,150,184 |
Kenton Housing Inc Latonia, KY | $68,380,829 | $31,745,821 |
Redstone Military Retirement Residence Association Huntsville, AL | $75,839,783 | $19,548,176 |
Virginia Lutheran Homes Inc Roanoke, VA | $83,707,371 | $28,580,430 |
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 |
Cypress Of Charlotte Club Inc Charlotte, NC | $4,602,507 | $19,033,502 |
Lavender Mountain Senior Living Inc Mount Berry, GA | $141,195,331 | $5,176,789 |
Lewis Memorial Christian Village St Louis, MO | $48,381,888 | $18,539,239 |