Civic Intelligence

Luther Terrace Inc.

990 • Fiscal year 2010 • EIN 58-1567594

Jan 01, 2010 to Dec 31, 2010 • Filed on Oct 27, 2011

Organization ProfileWWW.WESLEYLIVING.COM
1615 Appling Road38016
Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

1.04x

Higher debt load relative to assets than 91% of similar nonprofits.

2010 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2010

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2010

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2010

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2010

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2010

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets91st percentile

Assets

$1,093,464

No earlier filing loaded for comparison.

Net Assets

-$45,485

No earlier filing loaded for comparison.

Liabilities

$1,138,949

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

$432,444

No earlier filing loaded for comparison.

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0-$500KAssets 2010: $1,093,464Liabilities 2010: $1,138,949Net Assets 2010: -$45,4852010Assets 2011: $1,296,906Liabilities 2011: $1,117,574Net Assets 2011: $179,3322011Assets 2012: $1,234,015Liabilities 2012: $1,084,988Net Assets 2012: $149,0272012Assets 2013: $1,170,913Liabilities 2013: $1,060,941Net Assets 2013: $109,9722013Assets 2014: $1,107,077Liabilities 2014: $1,019,021Net Assets 2014: $88,0562014Assets 2015: $1,043,448Liabilities 2015: $987,431Net Assets 2015: $56,0172015Assets 2016: $1,011,957Liabilities 2016: $963,876Net Assets 2016: $48,0812016Assets 2017: $973,109Liabilities 2017: $917,320Net Assets 2017: $55,7892017Assets 2018: $1,020,171Liabilities 2018: $956,917Net Assets 2018: $63,2542018Assets 2019: $890,809Liabilities 2019: $812,083Net Assets 2019: $78,7262019Assets 2020: $845,195Liabilities 2020: $757,457Net Assets 2020: $87,7382020Assets 2021: $841,063Liabilities 2021: $764,022Net Assets 2021: $77,0412021Assets 2022: $807,459Liabilities 2022: $709,161Net Assets 2022: $98,2982022Assets 2023: $819,256Liabilities 2023: $725,578Net Assets 2023: $93,6782023Assets 2024: $801,752Liabilities 2024: $698,530Net Assets 2024: $103,2222024

Highlighted filing

2010

Assets$1,093,464
Liabilities$1,138,949
Net Assets-$45,485
Open 2010 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KExpenses 2010: $432,4442010Expenses 2011: $461,2122011Expenses 2012: $477,5772012Revenue 2013: $433,649Expenses 2013: $472,704Net Income 2013: -$39,0552013Revenue 2014: $428,790Expenses 2014: $450,706Net Income 2014: -$21,9162014Revenue 2015: $439,471Expenses 2015: $471,510Net Income 2015: -$32,0392015Revenue 2016: $444,095Expenses 2016: $452,031Net Income 2016: -$7,9362016Revenue 2017: $455,216Expenses 2017: $447,508Net Income 2017: $7,7082017Revenue 2018: $472,529Expenses 2018: $465,064Net Income 2018: $7,4652018Revenue 2019: $464,360Expenses 2019: $448,888Net Income 2019: $15,4722019Revenue 2020: $459,879Expenses 2020: $450,867Net Income 2020: $9,0122020Revenue 2021: $471,296Expenses 2021: $481,993Net Income 2021: -$10,6972021Revenue 2022: $482,908Expenses 2022: $461,651Net Income 2022: $21,2572022Revenue 2023: $488,933Expenses 2023: $493,553Net Income 2023: -$4,6202023Revenue 2024: $524,580Expenses 2024: $515,036Net Income 2024: $9,5442024

Highlighted filing

2010

Revenue-
Expenses$432,444
Net Income-
Open 2010 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2010 to Dec 31, 2010
Signed
Oct 27, 2011
Return Version
2010v3.4
Gross Receipts
$723,336
Mission and Program Overview

Mission

Luther terrace, inc. Is a not-for-profit general welfare corporation formed in may 1978, in accordance with the not-for-profit statutes of the state of tennessee. The corporation was formed for the purpose of operating a 40 unit community located in memphis, tennessee known as luther terrace, which provides housing and related services for very low and extremely low income elderly persons pursuant to section 202 of the national housing act, as amended.

Filing and Contact Details

Filer

EIN
58-1567594
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0THE CORPORATION ADOPTED THE INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION 740, WHICH PROVIDES GUIDANCE FOR HOW UNCERTAIN INCOME TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, PRESENTED AND DISCLOSED IN THE FINANCIAL STATEMENTS. THE CORPORATION IS REQUIRED TO EVALUATE THE INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN TO DETERMINE WHETHER THE POSITIONS ARE "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAX AUTHORITY. THE CORPORATION HAS DETERMINED THAT THE APPLICATION OF THE INCOME TAXES STANDARD DOES NOT IMPACT THE OPERATIONS OF THE CORPORATION AND THAT NO PROVISION FOR INCOME TAX IS REQUIRED IN THE CORPORATION'S FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2010, THE FOLLOWING TAX YEARS REMAIN OPEN DUE TO THE APPLICABLE TAX AUTHORITY'S ABILITY TO REVIEW AND ASSESS PREVIOUSLY ISSUED RETURNS: FEDERAL - DECEMBER 31, 2007, 2008, 2009, AND 2010; TENNESSEE - DECEMBER 31, 2006, 2007, 2008, 2009, AND 2010. THERE HAS BEEN NO INTEREST OR PENALTIES RECOGNIZED IN THE STATEMENTS OF FINANCIAL POSITION OR ACTIVITIES AND CHANGES IN NET ASSETS FOR THE YEARS ENDED DECEMBER 31, 2010 AND 2009.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1GREEN RETROFIT GRANT REVENUE 323,261.
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IRS990ScheduleO/GeneralExplanation/Explanation0LUTHER TERRACE, INC. IS MANAGED BY WESLEY HOUSING CORPORATION OF MEMPHIS, A PROFESSIONAL PROPERTY MANAGEMENT COMPANY. WESLEY HOUSING CORPORATION OF MEMPHIS HAS A PROJECT OWNER'S AND MANAGEMENT AGENT'S CERTIFICATION FOR MULTIFAMILY HOUSING PROJECTS WITH THE US DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT. UNDER THIS CERTIFICATION, HUD HAS APPROVED WESLEY HOUSING CORPORATION TO MANAGE THE LUTHER TERRACE, INC. APARTMENT COMMUNITY.
IRS990ScheduleO/GeneralExplanation/Explanation1A COPY OF THE FORM 990 IS REVIEWED BY A BOARD MEMBER PRIOR TO FILING.
IRS990ScheduleO/GeneralExplanation/Explanation2REVIEW THE POLICY ON AN ANNUAL BASIS WITH THE BOARD OF DIRECTORS TO MAKE SURE THAT EVERYONE IS IN COMPLIANCE.
IRS990ScheduleO/GeneralExplanation/Explanation3THE COMPENSATION OF ALL EMPLOYEES IS DETERMINED THROUGH THE APPROVAL OF THE BUDGET.
IRS990ScheduleO/GeneralExplanation/Explanation4THE ORGANIZATION PROVIDES ITS FINANCIAL INFORMATION TO THE PUBLIC THROUGH WWW.GUIDESTAR.ORG AND UPON WRITTEN REQUEST.
IRS990ScheduleO/GeneralExplanation/Explanation5ALL OF THE OFFICERS, DIRECTORS, AND EMPLOYEES LISTED IN PART VII, SECTION A PERFORM SIMILAR DUTIES AND HAVE SIMILAR RESPONSIBILITIES FOR RELATED ORGANIZATIONS AS THEY DO FOR THIS ORGANIZATION. THEIR TOTAL HOURS WORKED PER WEEK FOR THIS ORGANIZATION ARE SIMILAR TO THEIR HOURS WORKED FOR RELATED ORGANIZATIONS BOTH IN TERMS OF NUMBER OF HOURS AND TYPE OF WORK PERFORMED.
IRS990ScheduleO/GeneralExplanation/Explanation6AN AUDIT COMMITTEE REVIEWS THE AUDIT RESULTS AND SELECTION OF THE AUDITING FIRM THROUGH A PERIODIC COMPETITIVE BIDDING PROCESS.
IRS990ScheduleO/GeneralExplanation/Identifier0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/GeneralExplanation/Identifier1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/GeneralExplanation/Identifier2HOURS WORKED FOR RELATED ORGANIZATIONS
IRS990ScheduleO/GeneralExplanation/Identifier3OVERSIGHT OF AUDITING FUNCTION
IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/GeneralExplanation/ReturnReference1FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/GeneralExplanation/ReturnReference2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/GeneralExplanation/ReturnReference3FORM 990, PART VII, SECTION A, LINE 1A, COLUMN B
IRS990ScheduleO/GeneralExplanation/ReturnReference4PART XII, LINE 2C
IRS990/ScheduleORequired01
IRS990ScheduleR/ExchangeOfAssets00
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine101615 APPLING ROAD
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IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine121615 APPLING ROAD
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine131615 APPLING ROAD
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine141615 APPLING ROAD
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine151615 APPLING ROAD
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine161615 APPLING ROAD
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine171615 APPLING ROAD
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine181615 APPLING ROAD
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine191615 APPLING ROAD
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1101615 APPLING ROAD
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City0CORDOVA
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City1CORDOVA
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City2CORDOVA
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City3CORDOVA
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City4CORDOVA
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City5CORDOVA
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City6CORDOVA
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City7CORDOVA
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City8CORDOVA
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City9CORDOVA
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City10CORDOVA
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State0TN
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State1TN
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State2TN
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State3TN
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State4TN
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State5TN
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State6TN
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State7TN
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State8TN
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State9TN
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/State10TN
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode038016
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode138016
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode238016
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode338016
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode438016
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode538016
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode638016
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode738016
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode838016
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode938016
IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/ZIPCode1038016
IRS990ScheduleR/Form990ScheduleRPartII/ControlledOrg00
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IRS990ScheduleR/Form990ScheduleRPartII/ControlledOrg20
IRS990ScheduleR/Form990ScheduleRPartII/ControlledOrg30
IRS990ScheduleR/Form990ScheduleRPartII/ControlledOrg40
IRS990ScheduleR/Form990ScheduleRPartII/ControlledOrg50

Document Assets

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Filings

Displayed year

2010 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,093,464
Liabilities
$1,138,949
Net assets
-$45,485
Revenue
-
Expenses
$432,444
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$0.70$0.10$0.52$0.52$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.82$0.73$0.09$0.49$0.49$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.81$0.71$0.10$0.48$0.46$0.02
2021Detailed filing. Detailed filing data is available for this year.$0.84$0.76$0.08$0.47$0.48$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.85$0.76$0.09$0.46$0.45$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.89$0.81$0.08$0.46$0.45$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.02$0.96$0.06$0.47$0.47$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.97$0.92$0.06$0.46$0.45$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.01$0.96$0.05$0.44$0.45$0.01
2015Detailed filing. Detailed filing data is available for this year.$1.04$0.99$0.06$0.44$0.47$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.11$1.02$0.09$0.43$0.45$0.02
2013Detailed filing. Detailed filing data is available for this year.$1.17$1.06$0.11$0.43$0.47$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$1.08$0.15$0.48
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.30$1.12$0.18$0.46
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.09$1.14$0.05$0.43