Nonprofit · EIN 37-1746430
SOMERSET COURT APARTMENTS INC
Also known as SOMERSET COURT
Tax-exempt · CHRISTIANSBRG, VA 24073
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $321,674 | $363,200 | -$41,526 | $670,279 | $1,098,203 | -$427,924 |
| December 31, 2023 | 990 | $304,497 | $324,518 | -$20,021 | $745,580 | $1,131,978 | -$386,398 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $320,366
- Investment income
- $1,308
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $74,001
- Salaries, compensation and benefits (total)
- $93,395
- Professional fundraising fees
- $0
- Legal fees
- $756
- Accounting fees
- $6,750
- Depreciation
- $93,079
- Program services (functional)
- $297,053
- Management and general (functional)
- $66,147
Balance sheet and other
- Total assets, start of year
- $745,580
- Total assets, end of year
- $670,279
- Total liabilities, end of year
- $1,098,203
- Net assets, end of year
- -$427,924
- Land, buildings and equipment
- $507,982
- Net assets without donor restrictions
- -$427,924
- Gross receipts
- $321,674
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2013
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Jeffrey Reed | CEO/President Officer | 1 | $0 | $445,371 | $59,710 |
| J Andy Hall | COO Officer | 1 | $0 | $343,506 | $39,583 |
| Lance Sutherland | EVP / CFO Officer | 1 | $0 | $278,113 | $62,425 |
| Ana Castilla | Vice Chair Trustee or director | 1 | $0 | $0 | $0 |
| Charles Famuliner | Past Chair Trustee or director | 1 | $0 | $0 | $0 |
| Deborah Sherman Lee | Member Trustee or director | 1 | $0 | $0 | $0 |
| Harold Nassau | Member Trustee or director | 1 | $0 | $0 | $0 |
| John Randolph | Member Trustee or director | 1 | $0 | $0 | $0 |
| Nathan Kerr | Member Trustee or director | 1 | $0 | $0 | $0 |
| Racquel Reddie | Board Chair Trustee or director | 1 | $0 | $0 | $0 |
| Shawn McMahon | Member Trustee or director | 1 | $0 | $0 | $0 |
| Susan Sisk | Member Trustee or director | 1 | $0 | $0 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| Janaka Casper | CEO Officer | 1 | $0 | $792,494 | $61,078 |
| Jeffrey Reed | President Officer | 1 | $0 | $455,124 | $57,714 |
| Andy Hall | COO Officer | 1 | $0 | $350,997 | $38,072 |
| Lance Sutherland | EVP/CFO Officer | 1 | $0 | $277,201 | $57,469 |
| Ana Castilla | Vice Chair Trustee or director | 1 | $0 | $0 | $0 |
| Charles Famuliner | Past Chair Trustee or director | 1 | $0 | $0 | $0 |
| Debbie Sherman Lee | Member Trustee or director | 1 | $0 | $0 | $0 |
| Freddie Paige | member Trustee or director | 1 | $0 | $0 | $0 |
| John Randolph | Member Trustee or director | 1 | $0 | $0 | $0 |
| Racquel Reddie | Chair Trustee or director | 1 | $0 | $0 | $0 |
| Shawn McMahon | Member Trustee or director | 1 | $0 | $0 | $0 |
| Susan Sisk | Member Trustee or director | 1 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 448 DEPOT ST NE, CHRISTIANSBRG, VA 24073-2050
- Principal officer (990 for 2024)
- Jeffrey Reed, 448 Depot Street, Christiansburg, VA 24073
- Signed the 990
- Jeffrey Reed, President
- Phone
- (540) 382-2002
- Return prepared by
- Forvis Mazars LLP
Mission
Low Income Housing
Program accomplishments
- Operated a 48 unit apartment complex located in Wilson, North Carolina.Expenses $297,053 · revenue $320,366
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 37-1746430
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2015
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L20)
- Assets (IRS master file)
- $670,279
- Income (IRS master file)
- $321,674
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $321,674 | $363,200 | $670,279 | XML |
| 990 | December 2023 | $304,497 | $324,518 | $745,580 | XML |
| 990 | December 2022 | $299,603 | $340,396 | $794,315 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 37-1746430).
Questions about SOMERSET COURT APARTMENTS INC
- What is the EIN of SOMERSET COURT APARTMENTS INC?
- The employer identification number (EIN) of SOMERSET COURT APARTMENTS INC is 37-1746430.
- Is SOMERSET COURT APARTMENTS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to SOMERSET COURT APARTMENTS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does SOMERSET COURT APARTMENTS INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of SOMERSET COURT APARTMENTS INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did SOMERSET COURT APARTMENTS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of SOMERSET COURT APARTMENTS INC?
- The 990 for the year ended December 31, 2024 names Jeffrey Reed.
- Who are the officers and directors of SOMERSET COURT APARTMENTS INC?
- The 990 for the year ended December 31, 2024 lists 12 people; 0 received compensation from the organization.
- How much revenue does SOMERSET COURT APARTMENTS INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $321,674, expenses of $363,200 and total assets of $670,279 at year end.
Other nonprofits in CHRISTIANSBRG
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- WOODLAND PARK APARTMENTS OF HICKORY INC EIN 61-1726824 · last filed 990 for 2024
- BELFORD COMMONS CORPORATION EIN 54-1874898 · last filed 990 for 2024
- ELLETT ROAD APARTMENTS CORPORATION EIN 54-1651301 · last filed 990 for 2024
- COMMUNITY HOUSING PARTNERS CORPORATION EIN 54-1023025 · last filed 990 for 2025
- APPALACHIAN COMMUNITY CAPITAL DEVELOPMENT FOUNDATION EIN 46-2827486 · last filed 990 for 2025
- FREE CLINIC OF THE NEW RIVER VALLEY INC EIN 51-0247098 · last filed 990 for 2025
- LOCUS IMPACT FUND EIN 54-1754009 · last filed 990 for 2024
All nonprofits in CHRISTIANSBRG · Virginia · Housing and shelter