Liabilities / Assets
96th percentile
Higher debt load relative to assets than 96% of similar nonprofits.
EIN 58-2451919 • 501(c)3 • Duluth, GA
Profile
Providing housing to elderly persons by operating a hud-assisted apartment community regulated under section 202 of the national housing act of 1959.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
96th percentile
Higher debt load relative to assets than 96% of similar nonprofits.
Liabilities / Revenue
97th percentile
Higher debt load relative to revenue than 97% of similar nonprofits.
Net Margin
22nd percentile
Higher net margin than 22% of similar nonprofits.
Top Officer Pay
60th percentile
Higher top officer pay than 60% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
27th percentile
Faster asset growth than 27% of similar nonprofits.
Revenue Growth
42nd percentile
Faster revenue growth than 42% of similar nonprofits.
Assets
Down$1,740,484
Down $56,069 (-3.1%) from 2023
Liabilities
Down$2,467,344
Down $21,356 (-0.9%) from 2023
Net Assets
Down-$726,860
Down $34,713 (-5.0%) from 2023
Revenue
Up$351,462
Up $10,920 (+3.2%) from 2023
Expenses
Down$386,175
Down $2,588 (-0.7%) from 2023
Net Income
Up-$34,713
Up $13,508 (+28%) from 2023
Most recent year
2024 • Form 990Detailed filing. Detailed filing data is available for this year.
Providing housing to elderly persons by operating a HUD-assisted apartment community regulated under Section 202 of the National Housing Act of 1959.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $1,637,253 | $1,559,163 | ▼ $78,090 |
| Cash and Non-Interest-Bearing Accounts | $24,324 | $20,482 | ▼ $3,842 |
| Accounts Receivable | $2,620 | $12,102 | ▲ $9,482 |
| Prepaid Expenses and Deferred Charges | - | $4,359 | - |
| Total Assets | $1,796,553 | $1,740,484 | ▼ $56,069 |
| Other Assets Total | $132,356 | $144,378 | ▲ $12,022 |
| Liabilities | |||
| Other Liabilities | $2,428,842 | $2,429,130 | ▲ $288 |
| Accounts Payable and Accrued Expenses | $56,928 | $35,486 | ▼ $21,442 |
| Deferred Revenue | $2,930 | $2,728 | ▼ $202 |
| Total Liabilities | $2,488,700 | $2,467,344 | ▼ $21,356 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $-692,147 | $-726,860 | ▼ $34,713 |
| Total Net Assets Fund Balance | $-692,147 | $-726,860 | ▼ $34,713 |
| Total Liabilities and Net Assets / Fund Balance | $1,796,553 | $1,740,484 | ▼ $56,069 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $1,503,251 | $1,506,376 | $3,009,627 |
| Other Land Buildings | $18,512 | $118,733 | $137,245 |
| Land | $37,400 | - | $37,400 |
| Other Assets Org | $3,521 | - | - |
| Name | Title |
|---|---|
| Britt Jennings | President |
| Line Item | Amount |
|---|---|
| Other Expenses | $269,978 |
| Salaries, Compensation, and Employee Benefits | $116,197 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $88,595 | - | - | $88,595 |
| Depreciation Depletion | $78,090 | - | - | $78,090 |
| Fees for Services Management | - | $29,593 | - | $29,593 |
| Other Employee Benefits | $18,122 | - | - | $18,122 |
| Fees for Services Accounting | - | $15,747 | - | $15,747 |
| Payroll Taxes | $9,480 | - | - | $9,480 |
| Insurance | $8,187 | - | - | $8,187 |
| Other Expenses | $5,957 | $1,521 | - | $5,957 |
| Total Functional Expenses | $339,314 | $46,861 | $0 | $386,175 |
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $386,175 |
| Total Expenses per Audited Statements | $386,175 |
| Total Expenses per Form 990 | $386,175 |
| Expenses Not Reported on Financial Statements | $0 |
| Expenses Not Reported on Form 990 | $0 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Liability | Amount |
|---|---|
| Capital Advance | $2,416,200 |
| Tenant Security Deposits | $12,109 |
| Related Party Dues | $821 |
“The organization has entered into a management agreement with a management company for day-to-day management of the apartment community is common practice for owners/operators of HUD-assisted rental communities.”
“The return is prepared by a certified public accounting firm and provided to the management company for intitial review and approval. After any questions and comments from the management company are addressed, the return is provided to the board of directors for the final review and approval. After any questions and comments from the board of directors are addressed, the final approved return is signed by the designated board officer and filed.”
“Compliance is monitored at regularly scheduled meetings of the board of directors and at other times, if needed.”
“Documents are maintained by the board of directors and copies are provided upon request.”
“The Corporation is organized and operated exclusively for charitable, not-for-profit purposes. The Internal Revenue Service has, in prior years, issued its determination letter reflecting that The Psalm 23 Project, Inc. is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. The Corporation has also been classified as an entity that is not a private foundation within the meaning of Section 509(a) and qualifies for deductible contributions as provided in Section 170(b)(1)(A)(vi). Therefore, no income tax provision has been included in the financial statements. The Corporation is no longer subject to income tax examinations for calendar years up to and including the year ended December 31, 2020.”
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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| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | The Corporation is organized and operated exclusively for charitable, not-for-profit purposes. The Internal Revenue Service has, in prior years, issued its determination letter reflecting that The Psalm 23 Project, Inc. is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code. The Corporation has also been classified as an entity that is not a private foundation within the meaning of Section 509(a) and qualifies for deductible contributions as provided in Section 170(b)(1)(A)(vi). Therefore, no income tax provision has been included in the financial statements. The Corporation is no longer subject to income tax examinations for calendar years up to and including the year ended December 31, 2020. |
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| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 351462 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 351462 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 386175 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | The organization has entered into a management agreement with a management company for day-to-day management of the apartment community is common practice for owners/operators of HUD-assisted rental communities. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | The return is prepared by a certified public accounting firm and provided to the management company for intitial review and approval. After any questions and comments from the management company are addressed, the return is provided to the board of directors for the final review and approval. After any questions and comments from the board of directors are addressed, the final approved return is signed by the designated board officer and filed. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | Compliance is monitored at regularly scheduled meetings of the board of directors and at other times, if needed. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | Documents are maintained by the board of directors and copies are provided upon request. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Section A, line 3 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Section B, line 11b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Section B, line 12c |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Section C, line 19 |
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| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt | 0 | No |
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| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN | 0 | 753004044 |
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| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd | 0 | GA |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 0 | Provide elderly affordable HUD housing. |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt | 0 | Line 10 |
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| IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt | 0 | P |
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| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | GA |
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| IRS990/SubjectToProxyTaxInd | 0 | 0 |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | 0 |
| IRS990/TaxablePartyNotificationInd | 0 | 0 |
| IRS990/TaxExemptBondsInd | 0 | 0 |
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| IRS990/TotalAssetsEOYAmt | 0 | 1740484 |
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| IRS990/TotalGrossUBIAmt | 0 | 0 |
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| IRS990/TotalLiabilitiesEOYAmt | 0 | 2467344 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 2488700 |
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| IRS990/TotalReportableCompFromOrgAmt | 0 | 0 |
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| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 351462 |
| IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt | 0 | 0 |
| IRS990/TotalVolunteersCnt | 0 | 1 |
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| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 1740484 |
| IRS990/TotReportableCompRltdOrgAmt | 0 | 0 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | 0 |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | 0 |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | 3237 Satellite Blvd 310 |
| IRS990/USAddress/CityNm | 0 | Duluth |
| IRS990/USAddress/StateAbbreviationCd | 0 | GA |
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| IRS990/VotingMembersGoverningBodyCnt | 0 | 1 |
| IRS990/VotingMembersIndependentCnt | 0 | 1 |
| IRS990/WebsiteAddressTxt | 0 | N/A |
| IRS990/WhistleblowerPolicyInd | 0 | 1 |
| ReturnHeader/BuildTS | 0 | 2025-03-06 01:10:19Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | 1 |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Britt Jennings |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | President |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 6783302000 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2025-10-13 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | The Psalm 23 Project Inc |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | PSAL |
| ReturnHeader/Filer/EIN | 0 | 582451919 |
| ReturnHeader/Filer/PhoneNum | 0 | 6783302000 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 3237 Satellite Blvd 310 |
| ReturnHeader/Filer/USAddress/CityNm | 0 | Duluth |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | GA |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 30096 |
| ReturnHeader/IRSResponsiblePrtyInfoCurrInd | 0 | 1 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 582487348 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | Aprio Advisory Group LLC |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 2002 Summit Boulevard Suite 120 |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | Atlanta |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | GA |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 30319 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 4048929651 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2025-10-09 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | Stacy Cullen |
| ReturnHeader/ReturnTs | 0 | 2025-11-11T11:18:58-06:00 |
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