2024-05-15T10:46:33-05:00 2023-12-31 571157523 Aprio LLP 2002 Summit Boulevard Suite 120 Atlanta GA 30319 990 2023-01-01 582451919 The Psalm 23 Project Inc PSAL 4045555555 PO Box 53274 Atlanta GA 30355 Britt Jennings President 4045555555 2024-05-14 1 Britt Jennings 999009999 1 Stacy Cullen P00974308 4048929651 2024-05-14 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z Britt Jennings PO Box 53274 Atlanta GA 30355 340542 0 X N/A X 1996 GA Providing housing to elderly persons by operating a HUD-assisted apartment community regulated under Section 202 of the National Housing Act of 1959. 2 2 0 2 0 0 0 0 286716 339697 12 12 1242 833 287970 340542 0 0 0 0 87248 100068 0 0 0 277580 288695 364828 388763 -76858 -48221 1862873 1796553 2506799 2488700 -643926 -692147 Providing housing to elderly persons by operating a HUD-assisted apartment community regulated under Section 202 of the National Housing Act of 1959. 0 0 332425 340530 Providing housing to elderly persons by operating a HUD-assisted apartment community regulated under Section 202 of the National Housing Act of 1959. 332425 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 2 2 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 GA X The Organization 4045555555 PO Box 53274 Atlanta GA 30355 X Britt Jennings President 2.00 X X 0 0 0 Reverence Dr Collette Gundy President 2.00 X X 0 0 0 0 0 0 0 0 0 0 0 Rent Revenue 531110 339697 339697 339697 12 12 Other Revenue 531110 833 833 833 340542 340530 0 12 75162 75162 17242 17242 7664 7664 44019 44019 76757 76757 11290 11290 Operating and Maintenan 60246 60246 Administrative Expenses 39665 27346 12319 Utilities 31873 31873 Assisted Living Expense 24845 24845 388763 332425 56338 0 298 24324 28138 2620 3184272 1547019 1710565 1637253 123872 132356 1862873 1796553 76427 56928 2154 2930 2428218 2428842 2506799 2488700 X -643926 -692147 -643926 -692147 1862873 1796553 -48221 0 X 0 1 X 0 1 1 X 261374 260028 262998 287418 340530 1412348 261374 260028 262998 287418 340530 1412348 0 0 0 1412348 29 22 12 12 12 87 29 22 12 12 12 87 261403 260050 263010 287430 340542 1412435 0.99990 0.99990 0.00010 0.00010 X 37400 37400 3009627 1417299 1592328 137245 129720 7525 1637253 Tenant Security Deposits 13070 Escrow Deposits 30 Replacement Reserves 115737 Residual Receipt Reserve 3519 132356 Capital Advance 2416200 Tenant Security Deposits 12642 2428842 X 340542 0 340542 0 340542 388763 0 388763 0 388763 Part X, Line 2: 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, 2019. Form 990, Part VI, Section A, line 3 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. Form 990, Part VI, Section B, line 11b 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. Form 990, Part VI, Section B, line 12c Compliance is monitored at regularly scheduled meetings of the board of directors and at other times, if needed. Form 990, Part VI, Section C, line 19 Documents are maintained by the board of directors and copies are provided upon request. Promise Project Inc PO Box 53274 Atlanta GA 30355 753004044 Provide elderly affordable HUD housing. GA 501c Line 10 No 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 Promise Project Inc P 701 Actual Value