East Tennessee Homes For Elderly
- Assets
- $2.0m
- Revenue
- $528.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Morristown, TN
- Founding
- 06/1991
- Data as of
- 12/2021
- EIN
- 58-1933685
Organization Overview
East Tennessee Homes For Elderly is located in Morristown, TN. The organization was established in 1991. 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. East Tennessee Homes For Elderly 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 12/2021, East Tennessee Homes For Elderly generated $528.6k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $581.2k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
LOW-INCOME HOUSING TO ELDERLY OR HANDICAPPED
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED HOUSING FOR LOW-INCOME ELDERLY OR HANDICAPPED TENANTS UNDER SECTION 202 OF THE NATIONAL HOUSING ACT; REGULATED BY HUD AS TO RENT CHARGES AND OPERATING METHODS. 40 RENTAL UNITS IN COMPLEX.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kay Hale President | OfficerTrustee | 0.1 | $0 |
Jack Yates Vice-President | OfficerTrustee | 0.1 | $0 |
Stanley Wilder Secretary | OfficerTrustee | 0.1 | $0 |
Susan Luker Executive Vice President | Officer | 0.1 | $0 |
Barbara Raper Director | Trustee | 0.1 | $0 |
Lane Wolfenbarger Director | Trustee | 0.1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $278,507 |
| 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 | $278,507 |
| Total Program Service Revenue | $250,011 |
| Investment income | $72 |
| 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 | $528,590 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $67,502 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,743 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,511 |
| Advertising and promotion | $1,716 |
| Office expenses | $11,676 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $88,107 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $102,497 |
| Insurance | $62,655 |
| All other expenses | $3,680 |
| Total functional expenses | $581,152 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,035 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $17,162 |
| Net Land, buildings, and equipment | $1,611,011 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $321,954 |
| Total assets | $2,008,162 |
| Accounts payable and accrued expenses | $54,540 |
| 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 | $2,865,157 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,883 |
| Total liabilities | $2,940,580 |
| Net assets without donor restrictions | -$932,418 |
| 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 | $2,008,162 |
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 |