Forest Meadows Apartments Inc
- Assets
- $472.9k
- Revenue
- $97.6k
- Investments
- $0.0
- Employees
- 0
- Location
- St Petersburg, FL
- Founding
- 06/1994
- Data as of
- 06/2022
- EIN
- 59-3212721
Organization Overview
Forest Meadows Apartments Inc is located in St Petersburg, FL. The organization was established in 1994. 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. Forest Meadows Apartments 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, Forest Meadows Apartments Inc generated $97.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $113.7k during the year ending 06/2022. While expenses have increased by 1.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE HOUSING TO INDIVIDUALS WITH CHRONIC MENTAL ILLNESS WHO ARE CLIENTS OF BOLEY CENTERS, INC., A RELATED 501(C)(3) ORGANIZATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOREST MEADOWS APARTMENTS, INC. IS A 15 UNIT APARTMENT COMPLEX FOR INDIVIDUALS WITH CHRONIC MENTAL ILLNESS UNDER A SECTION 811 CAPITAL ADVANCE OF THE NATIONAL AFFORDABLE HOUSING ACT WITH A PROJECT RENTAL ASSISTANCE CONTRACT. ALL TENANTS OF THE PROJECT ARE CLIENTS OF BOLEY CENTERS, INC., A RELATED 501(C)(3) ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rutland Bussey Vice Preside | OfficerTrustee | 0.5 | $0 |
Paul Misiewicz President | OfficerTrustee | 0.5 | $0 |
Martin T Lott Director | Trustee | 0.5 | $0 |
Joseph Stringer Director | Trustee | 0.5 | $0 |
Gary Macmath Former Direc | 1 | $0 | |
Warren Bowman Secretary/tr | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $53,926 |
| Investment income | $24 |
| 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 | $97,605 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $7,080 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $7,200 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,950 |
| 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 | $3 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,527 |
| Travel | $0 |
| 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 | $28,727 |
| Insurance | $9,187 |
| All other expenses | $0 |
| Total functional expenses | $113,674 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,828 |
| Savings and temporary cash investments | $25,299 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,702 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,212 |
| Total assets | $472,930 |
| Accounts payable and accrued expenses | $107,778 |
| 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 | $935,400 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,720 |
| Total liabilities | $1,045,898 |
| Net assets without donor restrictions | -$572,968 |
| 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 |
| Total liabilities and net assets/fund balances | -$572,968 |