Liabilities / Assets
88th percentile
Higher debt load relative to assets than 88% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.88x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
23rd percentile
Faster asset growth than 23% of similar nonprofits.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Balance Sheet
Assets
Down$1,234,015
Down $62,891 (-4.8%) from 2011
Net Assets
Down$149,027
Down $30,305 (-17%) from 2011
Liabilities
Down$1,084,988
Down $32,586 (-2.9%) from 2011
Revenue And Expenses
Revenue
-
No earlier filing loaded for comparison.
Expenses
Up$477,577
Up $16,365 (+3.5%) from 2011
Net Income
-
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2012 to Dec 31, 2012
- Signed
- Nov 10, 2013
- Return Version
- 2012v2.1
- Gross Receipts
- $447,272
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
Raw XML AppendixShowing 400 of 662 raw XML fields
This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.
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| IRS990/ActivityOrMissionDescription | 0 | 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. |
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| IRS990/Description | 0 | 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. |
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| IRS990ScheduleD/ExpensesSubtotal | 0 | 477577 |
| IRS990ScheduleD/FootnoteInPartXIII | 0 | X |
| IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation | 0 | THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX, AND HAS BEEN CLASSIFIED AS AN OTHER THAN PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISON FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS ARE SUBJECT TO EXAMINATION FOR THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED BY THE APPLICABLE TAX AUTHORITY. |
| IRS990ScheduleD/Form990ScheduleDPartXIII/Identifier | 0 | DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: |
| IRS990ScheduleD/Form990ScheduleDPartXIII/ReturnReference | 0 | PART X, LINE 2: |
| IRS990ScheduleD/Land/BookValue | 0 | 82281 |
| IRS990ScheduleD/Land/OtherCostOrOtherBasis | 0 | 82281 |
| IRS990ScheduleD/OtherLiabilities/Amount | 0 | 10665 |
| IRS990ScheduleD/OtherLiabilities/Description | 0 | SECURITY DEPOSITS |
| IRS990ScheduleD/RevenueNotRptdF990 | 0 | 0 |
| IRS990ScheduleD/RevenueNotRptdOnFinStmt | 0 | 0 |
| IRS990ScheduleD/RevenueSubtotal | 0 | 447272 |
| IRS990ScheduleD/TotalExpensesPerForm990 | 0 | 477577 |
| IRS990ScheduleD/TotalOfAmounts | 0 | 10665 |
| IRS990ScheduleD/TotalOfBookValueLandBuildings | 0 | 1101253 |
| IRS990ScheduleD/TotalRevenuePerForm990 | 0 | 447272 |
| IRS990ScheduleD/TotExpensesEtcAuditedFinclStmt | 0 | 477577 |
| IRS990ScheduleD/TotRevenueEtcAuditedFinclStmt | 0 | 447272 |
| IRS990/ScheduleJRequired | 0 | 0 |
| IRS990ScheduleO/GeneralExplanation/Explanation | 0 | LUTHER 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. THE MANAGEMENT CONTACT ENCOMPASSES THE DAY TO DAY OPERATIONS OF THE PROJECT INCLUDING, BUT NOT LIMITED TO, COLLECTION OF RENTS, MAINTENANCE OF FACILITIES, SUPERVISION OF STAFF, AND ONGOING SUPPORT FOR BOTH THE OWNERS AND TENANTS AS NEEDED IN ORDER TO ESTABLISH A SAFE, SANITARY AND AFFORDABLE ENVIRONMENT. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 1 | A COPY OF THE FORM 990 IS REVIEWED BY A BOARD MEMBER PRIOR TO FILING. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 2 | REVIEW THE POLICY ON AN ANNUAL BASIS WITH THE BOARD OF DIRECTORS TO MAKE SURE THAT EVERYONE IS IN COMPLIANCE. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 3 | THE COMPENSATION OF ALL EMPLOYEES IS DETERMINED THROUGH THE APPROVAL OF THE BUDGET. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 4 | THE ORGANIZATION PROVIDES ITS FINANCIAL INFORMATION TO THE PUBLIC THROUGH WWW.GUIDESTAR.ORG AND UPON WRITTEN REQUEST. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 5 | ALL 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/Explanation | 6 | AN AUDIT COMMITTEE REVIEWS THE AUDIT RESULTS AND SELECTION OF THE AUDITING FIRM THROUGH A PERIODIC COMPETITIVE BIDDING PROCESS. |
| IRS990ScheduleO/GeneralExplanation/Identifier | 0 | HOURS WORKED FOR RELATED ORGANIZATIONS |
| IRS990ScheduleO/GeneralExplanation/Identifier | 1 | OVERSIGHT OF AUDITING FUNCTION |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 0 | FORM 990, PART VI, SECTION A, LINE 3 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 1 | FORM 990, PART VI, SECTION B, LINE 11 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 2 | FORM 990, PART VI, SECTION B, LINE 12C |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 3 | FORM 990, PART VI, SECTION B, LINE 15 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 4 | FORM 990, PART VI, SECTION C, LINE 19 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 5 | FORM 990, PART VII, SECTION A, LINE 1A, COLUMN B |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 6 | PART XII, LINE 2C |
| IRS990/ScheduleORequired | 0 | 1 |
| IRS990ScheduleR/DividendsRelatedOrganization | 0 | 0 |
| IRS990ScheduleR/ExchangeOfAssets | 0 | 0 |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 0 | 1615 APPLING ROAD |
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| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 2 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 3 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 4 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 5 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 6 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 7 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 8 | 1615 APPLING ROAD |
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| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 10 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 11 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 12 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 13 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 14 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 15 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/AddressLine1 | 16 | 1615 APPLING ROAD |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 0 | CORDOVA |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 1 | CORDOVA |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 2 | CORDOVA |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 3 | CORDOVA |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 4 | CORDOVA |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 5 | CORDOVA |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 6 | CORDOVA |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 7 | CORDOVA |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 8 | CORDOVA |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 9 | CORDOVA |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 10 | CORDOVA |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 11 | CORDOVA |
| IRS990ScheduleR/Form990ScheduleRPartII/AddressUS/City | 12 | CORDOVA |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $1,234,015
- Liabilities
- $1,084,988
- Net assets
- $149,027
- Revenue
- -
- Expenses
- $477,577
- Net income
- -