Redstone Highlands Apts in Greensburg, Pennsylvania (PA)

Redstone Highlands Apts
Employer Identification Number (EIN)	251729926
Name of Organization	Redstone Highlands Apts
Address	Greensburg, PA 15601
Tax Period	2005
Asset Amount	$-5,927,124
Amount of Income	$7,118,923
Form 990 Revenue Amount	$7,118,923
National Taxonomy of Exempt Entities (NTEE)	Housing, Shelter: Senior Citizens' Housing/Retirement Communities

Non-representatives - add comments:

Amount of income in 2005: $7,118,923

Redstone Highlands Apts:	$7,118,923
Other organizations performing similar types of work:	$1,030,903

Assets in 2005: $-5,927,124

This organization:	$-5,927,124
Other organizations performing similar types of work:	$3,363,548

Expenses in 2005: $7,878,446

This organization:	$7,878,446
Other organizations performing similar types of work:	$864,769

Income to expenses ratio in 2005: 0.9

This organization:	0.9
Other organizations performing similar types of work:	1.0

Expenses allocated to program services in 2005: 85.9%

Redstone Highlands Apts:	85.9%
Other organizations performing similar types of work:	90.0%

Grants share in income in 2005: 0.0%

This organization:	0.0%
Other organizations performing similar types of work:	1.8%

Financial snapshot ($)

Revenue for 2005

Assets at end of 2005

Expenses for 2005

Functional Expenses for 2005 ($)

Income-Producing Activities for 2005

	2000	2001	2003	2004	2005
Revenue, Expenses, and Changes in Net Assets or Fund Balances
Total revenue	$2,035,287	$3,005,178	$7,113,528	$7,504,250	$7,118,923
Contributions, gifts, grants, and similar amounts received	$0	$79,140	$42,583	$77,425	$0
Contributions to donor advised funds
Direct public support	$0	$79,140	$42,583	$77,425	$0
Indirect public support	$0	$0	$0	$0	$0
Government contributions (grants)	$0	$0	$0	$0	$0
Program service revenue including government fees and contracts	$1,747,127	$2,710,654	$6,826,618	$7,172,132	$7,058,653
Membership dues and assessments	$0	$0	$0	$0	$0
Interest on savings and temporary cash investments	$117,629	$158,620	$0	$0	$0
Dividends and interest from securities	$170,531	$56,764	$0	$0	$0
Net rental income or (loss)	$0	$0	$0	$0	$0
Gross rents	$0	$0	$0	$0	$0
Less: rental expenses	$0	$0	$0	$0	$0
Other investment income	$0	$0	$244,327	$254,693	$60,270
Gain or (loss) from sales of assets other than inventory	$0	$0	$0	$0	$0
Gross amount from sales of assets other than inventory	$0	$0	$0	$0	$0
Less: cost or other basis and sales expenses	$0	$0	$0	$0	$0
Net income or (loss) from special events and activities	$0	$0	$0	$0	$0
Gross revenue	$0	$0	$0	$0	$0
Less: direct expenses other than fundraising expenses	$0	$0	$0	$0	$0
Gross profit or (loss) from sales of inventory	$0	$0	$0	$0	$0
Gross sales of inventory, less returns and allowances	$0	$0	$0	$0	$0
Less: cost of goods sold	$0	$0	$0	$0	$0
Other revenue	$0	$0	$0	$0	$0
Total expenses	$1,985,287	$3,943,383	$8,503,220	$8,467,537	$7,878,446
Program services	$1,801,854	$3,419,165	$7,664,633	$7,448,951	$6,771,214
Management and general	$183,433	$524,218	$838,587	$1,018,586	$1,107,232
Fundraising	$0	$0	$0	$0	$0
Payments to affiliates	$0	$0	$0	$0	$0
Net assets or fund balances at end of year	$245,221	$-612,320	$-4,204,314	$-5,167,601	$-5,927,124
Excess or (deficit) for the year	$50,000	$-938,205	$-1,389,692	$-963,287	$-759,523
Net assets or fund balances at beginning of year	$446,817	$237,157	$-2,852,556	$-4,204,314	$-5,167,601
Other changes in net assets or fund balances	$-251,596	$88,728	$37,934	$0	$0

	Total	Program services	Management and general	Fundraising
Statement of Functional Expenses (for 2005)
Total functional expenses	$7,878,446	$6,771,214	$1,107,232	$0
Grants paid from donor advised funds
Other grants and allocations		$0
Specific assistance to individuals		$0
Benefits paid to or for members		$0
Compensation of current officers, directors, key employees, etc.	$0	$0	$0	$0
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above	$942,430	$773,752	$168,678	$0
Pension plan contributions not included above	$0	$0	$0	$0
Employee benefits not included above	$284,109	$231,961	$52,148	$0
Payroll taxes	$0	$0	$0	$0
Professional fundraising fees	$0	$0	$0	$0
Accounting fees	$0	$0	$0	$0
Legal fees	$0	$0	$0	$0
Supplies	$283,744	$267,958	$15,786	$0
Telephone	$17,248	$0	$17,248	$0
Postage and shipping	$7,955	$0	$7,955	$0
Occupancy	$1,225,224	$1,140,924	$84,300	$0
Equipment rental and maintenance	$84,075	$79,383	$4,692	$0
Printing and publications	$1,778	$873	$905	$0
Travel	$18,142	$16,612	$1,530	$0
Conferences, conventions, and meetings	$0	$0	$0	$0
Interest	$2,472,284	$2,472,284	$0	$0
Depreciation, depletion, etc.	$1,541,840	$1,541,840	$0	$0
Other expenses not covered above	$999,617	$245,627	$753,990	$0

	2000	2001	2003	2004	2005
Balance Sheets
Total assets	$11,275,096	$25,567,425	$35,126,171	$32,730,768	$31,080,292
Cash - non-interest-bearing	$0	$0	$800	$800	$800
Savings and temporary cash investments	$205,088	$200	$0	$0	$0
Accounts receivable less allowance for doubtful accounts	$7,937	$16,640	$563,452	$0	$12,479
Pledges receivable less allowance for doubtful accounts	$0	$200,292	$0	$0	$0
Grants receivable	$0	$0	$0	$0	$0
Receivables from current and former officers, directors, trustees, and key employees	$0	$0	$0	$0	$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts	$0	$0	$0	$0	$0
Inventories for sale or use	$5,508	$14,852	$18,604	$0	$0
Prepaid expenses and deferred charges	$55,398	$1,695,689	$991,405	$698,275	$513,486
Investments - publicly-traded securities
Investments - other securities	$2,486,270	$2,228,519	$0	$0	$0
Investments - land, buildings, and equipment less accumulated depreciation	$0	$0	$0	$0	$0
Investments - other	$0	$0	$0	$0	$0
Land, buildings, and equipment less accumulated depreciation	$8,345,872	$21,411,233	$33,551,910	$32,031,693	$30,553,527
Other assets, including program-related investments	$169,023	$0	$0	$0	$0
Total liabilities	$11,029,875	$26,179,745	$39,330,485	$37,898,369	$37,007,416
Accounts payable and accrued expenses	$27,507	$10,657	$223	$53,762	$23,255
Grants payable	$0	$0	$0	$0	$0
Deferred revenue	$0	$0	$0	$0	$0
Loans from officers, directors, trustees, and key employees	$0	$0	$0	$0	$0
Tax-exempt bond liabilities	$10,110,000	$9,825,000	$0	$0	$0
Mortgages and other notes payable	$0	$0	$0	$0	$0
Other liabilities	$892,368	$16,344,088	$39,330,262	$37,844,607	$36,984,161
Total liabilities and net assets/fund balances	$11,275,096	$25,567,425	$35,126,171	$32,730,768	$31,080,292
Total net assets or fund balances	$245,221	$-612,320	$-4,204,314	$-5,167,601	$-5,927,124

	2000	2001	2003	2004	2005
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
Total revenue	$2,035,287	$2,710,654	$0	$0	$0
Total revenue, gains, and other support per audited financial statements	$2,035,287	$2,710,654	$0	$0	$0
Other expenses	$0	$0	$0	$0	$0
Net unrealized gains on investments	$0	$0	$0	$0	$0
Donated services and use of facilities	$0	$0	$0	$0	$0
Recoveries of prior year grants	$0	$0	$0	$0	$0
Other	$0	$0	$0	$0	$0
Other revenue	$0	$0	$0	$0	$0
Investment expenses	$0	$0	$0	$0	$0
Other	$0	$0	$0	$0	$0

	2000	2001	2003	2004	2005
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
Total expenses	$1,958,987	$3,943,383	$0	$0	$0
Total expenses and losses per audited financial statements	$1,958,987	$3,943,383	$0	$0	$0
Other revenue	$0	$0	$0	$0	$0
Donated services and use of facilities	$0	$0	$0	$0	$0
Prior year adjustments	$0	$0	$0	$0	$0
Losses	$0	$0	$0	$0	$0
Other	$0	$0	$0	$0	$0
Other expenses	$0	$0	$0	$0	$0
Investment expenses	$0	$0	$0	$0	$0
Other	$0	$0	$0	$0	$0

Current Officers, Directors, Trustees, and Key Employees

Total number of officers, directors, and trustees permitted to vote on organization business at board meetings	6
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?	No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?	Yes
Does the organization have a written conflict of interest policy?	Yes

Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?	No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?	No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?	Yes
Direct and indirect political expenditures	$0
Did the organization file Form 1120-POL for this year?	No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members	$0
Section 162(e) lobbying and political expenditures	$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices	$0
Taxable amount of lobbying and political expenditures	$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions	$0
Gross receipts for public use of club facilities	$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911	$0
Amount of tax imposed on the organization during the year under: section 4912	$0
Amount of tax imposed on the organization during the year under: section 4955	$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?	No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958	$0
Amount of tax above, reimbursed by the organization	$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 2006	0

	Unrelated business income		Excluded by section 512, 513, or 514		Related or exempt function income
Analysis of Income-Producing Activities (for 2005)
	Business code	Amount	Exclusion code	Amount	Related or exempt function income
Total		$0		$60,270	$7,058,653
Program service revenue
Program service revenue 1	000000	$0	00	$0	$7,008,606
Program service revenue 2	000000	$0	00	$0	$50,047
Program service revenue 3	000000	$0	00	$0	$0
Program service revenue 4	000000	$0	00	$0	$0
Program service revenue 5	000000	$0	00	$0	$0
Medicare/Medicaid payments	000000	$0	00	$0	$0
Fees and contracts from government agencies	000000	$0	00	$0	$0
Membership dues and assessments	000000	$0	00	$0	$0
Interest on savings and temporary cash investments	000000	$0	00	$0	$0
Dividends and interest from securities	000000	$0	00	$0	$0
Net rental income or (loss) from real estate
debt-financed property	000000	$0	00	$0	$0
not debt-financed property	000000	$0	00	$0	$0
Net rental income or (loss) from personal property	000000	$0	00	$0	$0
Other investment income	000000	$0	Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)	$60,270	$0
Gain or (loss) from sales of assets other than inventory	000000	$0	00	$0	$0
Net income or (loss) from special events	000000	$0	00	$0	$0
Gross profit or (loss) from sales of inventory	000000	$0	00	$0	$0
Other revenue	000000	$0	00	$0	$0

EIN of corporation, partnership, or disregarded entity	Percentage of ownership interest	Total income	End-of-year assets
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2005)
	0%	$0	$0
	0%	$0	$0
	0%	$0	$0
	0%	$0	$0

Compensation	Contributions to employee benefit plans & deferred compensation	Expense account and other allowances
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2005)
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0
$0	$0	$0

Total number of other employees paid over $50,000	0

Total number of other employees paid over $50,000

Statements About Activities (for 2005)
Expenses paid or incurred in connection with the lobbying activities	$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year

Reason for Non-Private Foundation Status
The organization is not a private foundation because it is	Organization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees

	1999	2000	2002	2003	2004
Support Schedule
Total	$1,848,652	$2,035,287	$6,584,861	$7,113,528	$7,504,250
Gifts, grants, and contributions received	$0	$0	$170,506	$42,583	$77,425
Membership fees received	$0	$0	$0	$0	$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose	$1,729,145	$1,747,127	$6,139,539	$6,826,618	$7,172,132
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975	$119,507	$288,160	$274,816	$244,327	$254,693
Net income from unrelated business activities not included above	$0	$0	$0	$0	$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf	$0	$0	$0	$0	$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge	$0	$0	$0	$0	$0
Other income	$0	$0	$0	$0	$0

Lobbying Expenditures by Electing Public Charities (for 2005)
Total exempt purpose expenditures	$0
Total lobbying expenditures	$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)	$0
Total lobbying expenditures to influence a legislative body (direct lobbying)	$0
Other exempt purpose expenditures	$0
Lobbying nontaxable amount	$0
Grassroots nontaxable amount	$0

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Id	Name	Address	State	Established	Total Income
Organizations performing similar types of work
1	Redstone Highlands Apts	Greensburg, PA 15601	PA		$7,118,923
2	Unico Village Inc	2000 Joshua Rd, Lafayette Hl, PA 19444-2430	PA	1968-03	$1,458,157
3	G D L Manor Corp	3501 Masons Mill Rd Ste 403, Huntingdon Vy, PA 19006-3517	PA	1975-04	$1,411,332
4	St Therese Plaza Inc	1215 Hulton Rd, Oakmont, PA 15139-1135	PA	1980-06	$1,051,753
5	The Salvation Army Philadelphia Booth Manor Inc	5522 Arch Street, Philadelphia, PA 19139-2511	PA	1995-10	$861,508
6	Episcopal House Of Reading	4-6 West King Street No Ste 4, Lancaster, PA 17603-3824	PA	1969-02	$772,097
7	Et & Am Harding Foundation Trust 7019000922 012	101n Independ Mall E Macy1372-062, Philadelphia, PA 19106	PA	1953-09	$579,745
8	Community Housing & Development Corp Of Jersey Shore	Jersey Shore, PA 17740	PA		$237,708
9	Todd Baird Lindsey Foundation	PO BOX 724, Carlisle, PA 17013-0724	PA	1947-05	$234,394
10	Senior Citizens Caring Foundation	PO BOX 339, Beaver, PA 15009-0339	PA	1966-07	$55,033
11	Tarrant County Senior Living Center Inc	12720 Hillcrest Rd Ste 106, Dallas, TX 75230-7121	TX	2007-09	$69,083,332
12	Whitemarsh Continuing Care Retirement Community, The Hill At Whitemarsh	4000 Foxhound Dr, Lafayette Hl, PA 19444-1014	PA	2004-11	$50,951,514
13	The Temple Foundation Inc	9229 Arlington Blvd, Fairfax, VA 22031-2504	VA	1966-08	$30,035,700
14	Wesley Homes Inc	1817 Clifton Rd Ne, Atlanta, GA 30329-4021	GA	1961-03	$11,937,092
15	899 Charleston	899 East Charleston Road, Palo Alto, CA 94303-4644	CA	2008-06	$8,682,853
16	The Martin And Edith Stein Assisted Living Residence Inc	350 Demott Lane, Somerset, NJ 08873-4976	NJ	2000-08	$6,007,624
17	Reedsburg Area Senior Life Center Inc	2350 N Dewey Ave, Reedsburg, WI 53959-2316	WI	2006-05	$5,864,996
18	Sunnyside Properties Of Sarasota Inc	5201 Bahia Vista St, Sarasota, FL 34232-2615	FL	1977-11	$4,856,300
19	Stoneboro Development Corporation	440 Lincoln Ave, Pittsburgh, PA 15202-3631	PA	1988-02	$395,462
20	Helping Hands Housing Inc	2231 Bristol Avenue, State College, PA 16801	PA	2007-11	$0

Number of organizations performing similar types of work

Alabama	2
Arkansas	2
Arizona	1
California	30
Colorado	3
Connecticut	4
District of Columbia	1
Delaware	2
Florida	10
Georgia	6
Iowa	17
Idaho	1
Illinois	14
Indiana	6
Kansas	2
Kentucky	2
Louisiana	3
Massachusetts	7
Maryland	9
Michigan	15
Minnesota	11

Missouri	15
North Carolina	8
North Dakota	2
Nebraska	7
New Hampshire	3
New Jersey	13
New York	17
Ohio	13
Oklahoma	4
Oregon	4
Pennsylvania	15
South Dakota	1
Tennessee	7
Texas	8
Virginia	6
Vermont	2
Washington	3
Wisconsin	15
West Virginia	2
Wyoming	1
International	1

Total

295

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