Brent Spence Square Apartments Inc
- Assets
- $2.6m
- Revenue
- $503.6k
- Investments
- $522.0k
- Employees
- 0
- Location
- Covington, KY
- Founding
- 09/1990
- Data as of
- 12/2023
- EIN
- 61-1183268
Organization Overview
Brent Spence Square Apartments Inc is located in Covington, KY. The organization was established in 1990. According to its NTEE Classification (L99) the organization is classified as: Housing & Shelter N.E.C., 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. Brent Spence Square 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 12/2023, Brent Spence Square Apartments Inc generated $503.6k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 61.1% each year . All expenses for the organization totaled $502.4k during the year ending 12/2023. While expenses have increased by 22.6% 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING TO LOW INCOME FAMILIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Hargett Executive Di | 1 | $0 | |
David Schroeder Director | 1 | $0 | |
Gordon Rolfes President | 1 | $0 | |
John Wenderfer Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,617 |
| Interest on Savings | $54 |
| 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 | $482,951 |
| Total Revenue | $503,622 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $88,912 |
| Pension plans, employee benefits | $10,491 |
| Interest | $62,303 |
| Taxes | $6,134 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $320,097 |
| Total operating and administrative expenses | $502,375 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $502,375 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,833 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| 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 | $29,463 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $522,049 |
| Net Land, buildings, and equipment | $1,741,277 |
| Other assets | $224,085 |
| Total assets | $2,607,707 |
| Accounts payable and accrued expenses | $23,758 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $1,261,413 |
| Other liabilities | $166,479 |
| Total liabilities | $1,451,650 |