INDEPENDENCE SQUARE APARTMENTS INC

Address
3051 COMMERCE DRIVE STE 5
FORT GRATIOT, MI 48059
Contact
Phone: +1 (810) 385-4463
Nonprofit
NTEE: P75 - Senior Continuing Care Communities
EIN: 38-2581584

Mission

TO PROVIDE LOW INCOME, HANDICAPPED HOUSING TO ADULT INDIVIDUALS.
 20172016201520142013
Basic features of the organization
Year of formation1985
Subsection code03
Form of organization
CorporationTrue
Metropolitan statistical area2162
Human resources, including compensation
Summary compensation info
Number of employees   00
Personnel
Bacon, Frank
TitleTREASURERTREASURERTREASURERTREASURERTREASURER
Name of key/compensated personFRANK BACONFRANK BACONFRANK BACONFRANK BACONFRANK BACON
Position of compensated person
Current officer   TrueTrue
Officer, director, trustee, or key employeeTrueTrueTrue  
Average hours per week working for org   1.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Average hours per week working for related orgs   3.00 
Mallery, Peter
Title  SECRETARYSECRETARYSECRETARY
Name of key/compensated person  PETER MALLERYPETER MALLERYPETER MALLERY
Position of compensated person
Current officer   TrueTrue
Officer, director, trustee, or key employee  True  
Average hours per week working for org   1.001.00
Reportable compensation from org  $0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Average hours per week working for related orgs   3.00 
Oldenburg, Harry
TitleBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBER
Name of key/compensated personHARRY OLDENBURGHARRY OLDENBURGHARRY OLDENBURGHARRY OLDENBURGHARRY OLDENBURG
Position of compensated person
Officer, director, trustee, or key employeeTrueTrueTrue  
Average hours per week working for org   1.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Average hours per week working for related orgs   3.00 
Ruffing, Helen
TitlePRESIDENTPRESIDENTPRESIDENTPRESIDENTPRESIDENT
Name of key/compensated personHELEN RUFFINGHELEN RUFFINGHELEN RUFFINGHELEN RUFFINGHELEN RUFFING
Position of compensated person
Current officer   TrueTrue
Officer, director, trustee, or key employeeTrueTrueTrue  
Average hours per week working for org   1.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Average hours per week working for related orgs   3.00 
Ward, Rich
TitleSECRETARYSECRETARY   
Name of key/compensated personRICH WARDRICH WARD   
Officer, director, trustee, or key employeeTrueTrue   
Reportable compensation from org$0.00$0.00   
Worthington, Judy
TitleBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBERBOARD MEMBER
Name of key/compensated personJUDY WORTHINGTONJUDY WORTHINGTONJUDY WORTHINGTONJUDY WORTHINGTONJUDY WORTHINGTON
Position of compensated person
Officer, director, trustee, or key employeeTrueTrueTrue  
Average hours per week working for org   1.001.00
Reportable compensation from org$0.00$0.00$0.00$0.00$0.00
Other comp, non-reportable, from org and related orgs   $0.00$0.00
Corresponding comp from related orgs
Reportable compensation from related orgs    $0.00$0.00
Average hours per week working for related orgs   3.00 
Purpose: mission, activities, & accomplishments
Mission or significant activities   TO PROVIDE LOW INCOME, HANDICAPPED HOUSING TO ADULT INDIVIDUALS.TO PROVIDE LOW INCOME, HANDICAPPED HOUSING TO ADULT INDIVIDUALS.
Primary exempt purposeTO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS.TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS.TO PROVIDE ELDERLY PERSONS AND HANDICAPPED PERSONS WITH HOUSING FACILITIES AND SERVICES SPECIFICALLY DESIGNED TO MEET THEIR PHYSICAL, SOCIAL AND PSYCHOLOGICAL NEEDS.  
Program service expenses, total$61,476.00$80,813.00$92,576.00$83,117.00$80,281.00
Programs, including revenue & expenses
TO PROVIDE LOW INCOME HOUSING TO HANDICAPPED ADULT INDIVIDUALS THROUGH A CONTRACT WITH H.U.D. (8 TENANTS)
Program expenses   $83,117.00$80,281.00
Program description   TO PROVIDE LOW INCOME HOUSING TO HANDICAPPED ADULT INDIVIDUALS THROUGH A CONTRACT WITH H.U.D. (8 TENANTS)TO PROVIDE LOW INCOME HOUSING TO HANDICAPPED ADULT INDIVIDUALS THROUGH A CONTRACT WITH H.U.D. (8 TENANTS)
Financial data
Revenue
Total revenue$85,905.00$88,359.00$87,414.00$87,510.00$45,303.00
Revenue from contributions (total)  $77,248.00$77,622.00$34,819.00
Investment income, current yr$19.00$8.00$10.00$44.00$44.00
Total revenue from grants, etc., current yr   $77,622.00$34,819.00
Other revenue, current yr   $0.00$0.00
Program service revenue (total)  $10,156.00$9,844.00$10,440.00
Sources of contributions
Revenue from gov't grants   $77,622.00 
Revenue from all other contributions    $34,819.00
Other types of revenue
Investment income   $44.00$44.00
Net rental income  $0.00  
Expense categories (totals)
Total functional expenses: sum of all   $108,057.00$104,645.00
Total functional expenses: program service    $83,117.00$80,281.00
Total functional expenses: management and general   $24,940.00$24,364.00
Total functional expenses: fundraising   $0.00$0.00
Fees for services
Fundraising service fees (total)   $0.00$0.00
General management fees (total)   $4,512.00$4,224.00
Assets and liabilities
Total assets$117,333.00$125,625.00$147,161.00$174,590.00$200,281.00
Total assets, beginning of year$125,625.00$147,161.00$174,590.00$200,281.00$268,764.00
Total liabilities$448,284.00$450,008.00$455,140.00$452,799.00$457,943.00
Total liabilities, beginning of year$450,008.00$455,140.00$452,799.00$457,943.00$467,084.00
Unrestricted net assets, end of yr   -$278,209.00-$257,662.00
Net assets-$330,951.00-$324,383.00-$307,979.00-$278,209.00-$257,662.00
Net assets, beginning of year   -$257,662.00-$198,320.00
Other liabilities   $1,994.00$2,205.00
Other assets   $1,994.00$4,787.00
Cash: non-interest bearing   $1,480.00$3,318.00
Cash: non-interest bearing, beginning of year   $3,318.00$1,628.00
Other financial variables
Revenue less expenses   -$20,547.00-$59,342.00
Savings & temp cash investment   $34,271.00$32,703.00
Accounts receivable, net   $373.00$1,270.00
Accounts payable & accrued expenses   $4,842.00$4,176.00
Deferred revenue   $638.00$753.00
Secured mortgages and notes payable   $445,325.00$450,809.00
Total net assets or fund balances   -$278,209.00-$257,662.00
Depreciation, depletion, amortization   $21,731.00$21,731.00
Governance and accountability
Number of voting members   55
Number of independent voting members   55
Financial sheets were audited   TrueTrue
Accrual accountingTrueTrueTrueTrueTrue
Tax year start date2017-01-012016-01-012015-01-012014-01-012013-01-01
Tax year end date2017-12-012016-12-012015-12-012014-12-012013-12-01
Metadata about the filing
E-return type: 990, 990EZ, or 990PF990EZ990EZ990EZ990990
IRS schema version2017v2.22016v3.02015v2.12014v5.02013v3.1
Filing identifier201800609349200545201730589349200023201631309349201968201521049349300307201421329349302422
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