Civic Intelligence

Westover Apartments Inc

EIN 57-0872448 • 501(c)3 • Charleston, SC

Profile

Provided housing for chronically mentally ill persons by operating an apartment community regulated under section 202 of the national housing act of 1959.

4 Palmetto Park DriveCharleston, SC 29407
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

92nd percentile

0.95x

Higher debt load relative to assets than 92% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

96th percentile

1.82x

Higher debt load relative to revenue than 96% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

48th percentile

0.6%

Higher net margin than 48% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

47th percentile

-3.6%

Faster asset growth than 47% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

57th percentile

4.1%

Faster revenue growth than 57% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$440,069

Down $35,626 (-7.5%) from 2023

Liabilities

Down

$416,451

Down $37,379 (-8.2%) from 2023

Net Assets

Up

$23,618

Up $1,753 (+8.0%) from 2023

Revenue

Up

$249,944

Up $673 (+0.3%) from 2023

Expenses

Up

$248,191

Up $490 (+0.2%) from 2023

Net Income

Up

$1,753

Up $183 (+12%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0-$200KAssets 2011: $593,291Liabilities 2011: $683,202Net Assets 2011: -$89,9112011Assets 2012: $579,327Liabilities 2012: $667,868Net Assets 2012: -$88,5412012Assets 2013: $565,286Liabilities 2013: $653,179Net Assets 2013: -$87,8932013Assets 2014: $570,608Liabilities 2014: $651,529Net Assets 2014: -$80,9212014Assets 2015: $547,515Liabilities 2015: $631,646Net Assets 2015: -$84,1312015Assets 2016: $535,627Liabilities 2016: $614,558Net Assets 2016: -$78,9312016Assets 2017: $545,922Liabilities 2017: $603,132Net Assets 2017: -$57,2102017Assets 2018: $539,331Liabilities 2018: $574,777Net Assets 2018: -$35,4462018Assets 2019: $558,480Liabilities 2019: $568,487Net Assets 2019: -$10,0072019Assets 2020: $562,221Liabilities 2020: $523,793Net Assets 2020: $38,4282020Assets 2021: $557,925Liabilities 2021: $509,153Net Assets 2021: $48,7722021Assets 2022: $493,566Liabilities 2022: $473,271Net Assets 2022: $20,2952022Assets 2023: $475,695Liabilities 2023: $453,830Net Assets 2023: $21,8652023Assets 2024: $440,069Liabilities 2024: $416,451Net Assets 2024: $23,6182024

Highlighted filing

2024

Assets$440,069
Liabilities$416,451
Net Assets$23,618

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0-$100KRevenue 2011: $206,113Expenses 2011: $208,096Net Income 2011: -$1,9832011Revenue 2012: $212,536Expenses 2012: $211,166Net Income 2012: $1,3702012Revenue 2013: $216,774Expenses 2013: $216,126Net Income 2013: $6482013Revenue 2014: $218,936Expenses 2014: $211,962Net Income 2014: $6,9742014Revenue 2015: $214,473Expenses 2015: $217,683Net Income 2015: -$3,2102015Revenue 2016: $224,938Expenses 2016: $219,738Net Income 2016: $5,2002016Revenue 2017: $234,406Expenses 2017: $212,685Net Income 2017: $21,7212017Revenue 2018: $226,302Expenses 2018: $204,538Net Income 2018: $21,7642018Revenue 2019: $249,014Expenses 2019: $223,575Net Income 2019: $25,4392019Revenue 2020: $253,497Expenses 2020: $205,062Net Income 2020: $48,4352020Revenue 2021: $251,873Expenses 2021: $241,529Net Income 2021: $10,3442021Revenue 2022: $239,556Expenses 2022: $268,033Net Income 2022: -$28,4772022Revenue 2023: $249,271Expenses 2023: $247,701Net Income 2023: $1,5702023Revenue 2024: $249,944Expenses 2024: $248,191Net Income 2024: $1,7532024

Highlighted filing

2024

Revenue$249,944
Expenses$248,191
Net Income$1,753

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.40$4.16$0.24$2.50$2.48$0.02
2023Detailed filing. Detailed filing data is available for this year.$4.76$4.54$0.22$2.49$2.48$0.02
2022Detailed filing. Detailed filing data is available for this year.$4.94$4.73$0.20$2.40$2.68$0.28
2021Detailed filing. Detailed filing data is available for this year.$5.58$5.09$0.49$2.52$2.42$0.10
2020Detailed filing. Detailed filing data is available for this year.$5.62$5.24$0.38$2.53$2.05$0.48
2019Detailed filing. Detailed filing data is available for this year.$5.58$5.68$0.10$2.49$2.24$0.25
2018Detailed filing. Detailed filing data is available for this year.$5.39$5.75$0.35$2.26$2.05$0.22
2017Detailed filing. Detailed filing data is available for this year.$5.46$6.03$0.57$2.34$2.13$0.22
2016Detailed filing. Detailed filing data is available for this year.$5.36$6.15$0.79$2.25$2.20$0.05
2015Detailed filing. Detailed filing data is available for this year.$5.48$6.32$0.84$2.14$2.18$0.03
2014Detailed filing. Detailed filing data is available for this year.$5.71$6.52$0.81$2.19$2.12$0.07
2013Detailed filing. Detailed filing data is available for this year.$5.65$6.53$0.88$2.17$2.16$0.01
2012Summary only. Only limited summary data is available for this year.$5.79$6.68$0.89$2.13$2.11$0.01
2011Summary only. Only limited summary data is available for this year.$5.93$6.83$0.90$2.06$2.08$0.02
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 14, 2025
Return Version
2024v5.0
Gross Receipts
$249,944
Mission and Program Overview

Mission

Provided housing for chronically mentally ill persons by operating an apartment community regulated under section 202 of the national housing act of 1959.

Providing housing for chronically mentally ill persons by operating a hud- assisted apartment community regulated under section 202 of the national housing act.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$205,152$181,113▼ $24,039
Cash and Non-Interest-Bearing Accounts$17,230$8,308▼ $8,922
Accounts Receivable$2,024$3,326▲ $1,302
Total Assets$475,695$440,069▼ $35,626
Other Assets Total$251,289$247,322▼ $3,967
Liabilities
Mortgage Notes Payable Secured by Investment Property$404,226$367,702▼ $36,524
Accounts Payable and Accrued Expenses$44,690$40,991▼ $3,699
Other Liabilities$4,856$5,282▲ $426
Deferred Revenue$58$2,476▲ $2,418
Total Liabilities$453,830$416,451▼ $37,379
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$21,865$23,618▲ $1,753
Total Net Assets Fund Balance$21,865$23,618▲ $1,753
Total Liabilities and Net Assets / Fund Balance$475,695$440,069▼ $35,626

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$136,292$759,066$895,358
Equipment$4,561$39,666$44,227
Land$40,260-$40,260
Other Assets Org$5,545--
Compensation and Service Providers

Board Members and Trustees

NameTitle
John McgillPresident
Jeremy WilsonBoard Member
Russell AbneyBoard Member
A Joy JayExec.directo
Ann BattinVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$249,478
Investment Income
$210
Other Revenue
$256
Change in Net Assets
$1,753

Audited Revenue Reconciliation

Revenue per Audited Statements
$249,944
Total Revenue per Audited Statements
$249,944
Total Revenue per Form 990
$249,944
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$178,471
Salaries, Compensation, and Employee Benefits$69,720
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$46,519--$46,519
Interest$32,208--$32,208
Depreciation Depletion$24,039--$24,039
Insurance$21,137--$21,137
Other Employee Benefits$19,233--$19,233
Fees for Services Other$15,027--$15,027
Fees for Services Management-$11,106-$11,106
Fees for Services Accounting-$10,702-$10,702
Office Expenses$6,458--$6,458
Payroll Taxes$3,968--$3,968
Other Expenses$508$59-$567
Conferences and Meetings-$298-$298
Total Functional Expenses$226,026$22,165$0$248,191

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$248,191
Total Expenses per Audited Statements$248,191
Total Expenses per Form 990$248,191
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$5,282
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Management of the apartment complex has been delegated to mental health america of south carolina

Form 990, Page 6, Part VI, Line 11B

The return is prepared by a certified public accountant and provided to the management company for initital review and approval. The return is then provided to the board of directors for final review and commment. After resolution on any questions and comments received from the board, the return is signed by the executive director of mhasc, the management company.

Form 990, Page 6, Part VI, Line 12C

Compliance is monitored at regularly scheduled meetings of the board of directors and at other times, if needed.

Form 990, Page 6, Part VI, Line 19

Documents are maintained by the board of directors and copies are provided upon request.

Filing and Contact Details

Filer

Filer Name
Westover Apartments Inc
EIN
57-0872448
Phone
8037795363
Address
4 PALMETTO PARK DRIVE, CHARLESTON, SC 29407

Signing Officer

Name
A Joy Jay
Title
Exec.director Mhasc
Phone
8037795363
Signed
2025-05-14

Organization Details

Principal Officer
A Joy Jay
Formed
1987
Legal Domicile
Sc
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Dianne Baughman CPA
Address
318 BAYSIDE RD, COLUMBIA, SC 29212
Preparer
Dianne B Baughmancpa
Phone
8037323652
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0204
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01107
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt010063
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt012433
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt024017
IRS990ScheduleA/InvestmentIncomeCYPct00.02000
IRS990ScheduleA/InvestmentIncomePYPct00.03000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.98070
IRS990ScheduleA/PublicSupportPY509Pct00.97050
IRS990ScheduleA/PublicSupportTotal509Amt01220124
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0249734
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0249067
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0238449
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0241810
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0241064
IRS990ScheduleA/Total509Grp/TotalAmt01220124
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0249944
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0249271
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0239556
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0251873
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0253497
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01244141
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0136292
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0759066
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0895358
IRS990ScheduleD/EquipmentGrp/BookValueAmt04561
IRS990ScheduleD/EquipmentGrp/DepreciationAmt039666
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt044227
IRS990ScheduleD/ExpensesSubtotalAmt0248191
IRS990ScheduleD/LandGrp/BookValueAmt040260
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt040260
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0208387
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt120496
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt212894
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt35545
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0REPLACEMENT RESERVE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1ESCROW DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2RESIDUAL RECEIPTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05282
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueSubtotalAmt0249944
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0181113
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0247322
IRS990ScheduleD/TotalExpensesPerForm990Amt0248191
IRS990ScheduleD/TotalLiabilityAmt05282
IRS990ScheduleD/TotalRevenuePerForm990Amt0249944
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0249944
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0248191
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT OF THE APARTMENT COMPLEX HAS BEEN DELEGATED TO MENTAL HEALTH AMERICA OF SOUTH CAROLINA
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN IS PREPARED BY A CERTIFIED PUBLIC ACCOUNTANT AND PROVIDED TO THE MANAGEMENT COMPANY FOR INITITAL REVIEW AND APPROVAL. THE RETURN IS THEN PROVIDED TO THE BOARD OF DIRECTORS FOR FINAL REVIEW AND COMMMENT. AFTER RESOLUTION ON ANY QUESTIONS AND COMMENTS RECEIVED FROM THE BOARD, THE RETURN IS SIGNED BY THE EXECUTIVE DIRECTOR OF MHASC, THE MANAGEMENT COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPLIANCE IS MONITORED AT REGULARLY SCHEDULED MEETINGS OF THE BOARD OF DIRECTORS AND AT OTHER TIMES, IF NEEDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE MAINTAINED BY THE BOARD OF DIRECTORS AND COPIES ARE PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0475695
IRS990/TotalAssetsEOYAmt0440069
IRS990/TotalAssetsGrp/BOYAmt0475695
IRS990/TotalAssetsGrp/EOYAmt0440069
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt022165
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0226026
IRS990/TotalFunctionalExpensesGrp/TotalAmt0248191
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0453830
IRS990/TotalLiabilitiesEOYAmt0416451
IRS990/TotalLiabilitiesGrp/BOYAmt0453830
IRS990/TotalLiabilitiesGrp/EOYAmt0416451
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt021865
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt023618
IRS990/TotalProgramServiceExpensesAmt0226026
IRS990/TotalProgramServiceRevenueAmt0249478
IRS990/TotalRevenueGrp/ExclusionAmt0210
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0249734
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0249944
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0475695
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0440069
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01823 GADSDEN STREET
IRS990/USAddress/CityNm0COLUMBIA
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd029201
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0A JOY JAY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXEC.DIRECTOR MHASC
ReturnHeader/BusinessOfficerGrp/PhoneNum08037795363
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WESTOVER APARTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0WEST
ReturnHeader/Filer/EIN0570872448
ReturnHeader/Filer/PhoneNum08037795363
ReturnHeader/Filer/USAddress/AddressLine1Txt04 PALMETTO PARK DRIVE
ReturnHeader/Filer/USAddress/CityNm0CHARLESTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd029407
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0570542520
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DIANNE BAUGHMAN CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0318 BAYSIDE RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COLUMBIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029212
ReturnHeader/PreparerPersonGrp/PhoneNum08037323652
ReturnHeader/PreparerPersonGrp/PreparationDt02025-05-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DIANNE B BAUGHMANCPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-05-15T13:00:39-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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