Golden Oaks Apartments Inc
Golden Oaks Apartments Inc. consistently operates at a deficit, drawing down assets while maintaining low liabilities and no executive compensation.
EIN: 204045133 · Cookeville, TN · NTEE: L11 · Updated: 2026-03-28
About Golden Oaks Apartments Inc
Golden Oaks Apartments Inc (EIN: 204045133) is a nonprofit organization based in Cookeville, TN, classified under NTEE code L11. The organization reported total revenue of $113K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Golden Oaks Apartments Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Golden Oaks Apartments Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Golden Oaks Apartments Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers are receiving salaries from the organization. This is a strong positive for an organization of its size, suggesting all revenue is directed towards operational and programmatic expenses.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Golden Oaks Apartments Inc's IRS 990 filings:
- Consistent operating deficits: Expenses have exceeded revenue in every reported period, leading to a steady decline in assets.
- Declining asset base: Assets have decreased from $1,573,573 in 2015 to $1,197,287 in 2024, indicating a reliance on reserves to cover operational costs.
Strengths
The following positive indicators were identified for Golden Oaks Apartments Inc:
- Zero executive compensation: No officer compensation reported across all filings, demonstrating a strong commitment to mission-focused spending.
- Low liabilities: Liabilities remain consistently low (e.g., $20,152 in 2024), indicating responsible financial management despite operating deficits.
- Clear program focus: The NTEE code (L11) and organization name clearly indicate a focus on providing housing for vulnerable populations.
Frequently Asked Questions about Golden Oaks Apartments Inc
Is Golden Oaks Apartments Inc. financially sustainable given its consistent operating deficits?
The organization has consistently spent more than it earns, with expenses exceeding revenue by approximately $30,000-$60,000 annually over the last decade. While assets have been drawn down from $1,573,573 in 2015 to $1,197,287 in 2024, the low liabilities suggest it's not accumulating debt. Its long-term sustainability depends on either increasing revenue or reducing expenses to balance its budget.
What is the primary source of Golden Oaks Apartments Inc.'s revenue?
Based on the NTEE code (L11 - Housing for the Elderly, Handicapped, or Poor) and the organization's name, it is highly probable that the primary source of revenue is rental income from its apartments, potentially supplemented by government subsidies or grants for affordable housing.
How does Golden Oaks Apartments Inc. manage to operate with consistent deficits without accumulating significant debt?
The organization has been covering its operating deficits by utilizing its existing asset base. While this is sustainable in the short to medium term, a continued trend without new revenue streams or expense reductions will eventually deplete its assets.
Filing History
IRS 990 filing history for Golden Oaks Apartments Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Golden Oaks Apartments Inc's revenue has grown by 107%, moving from $56K to $116K. Total assets decreased by 29.8% over the same period, from $1.7M to $1.2M. Total functional expenses rose by 57.6%, from $96K to $151K. In its most recent filing year (2024), Golden Oaks Apartments Inc reported a deficit of $36K, with expenses exceeding revenue. The organization holds $20K in liabilities against $1.2M in assets (debt-to-asset ratio: 1.7%), resulting in net assets of $1.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $116K | $151K | $1.2M | $20K | — | — |
| 2023 | $99K | $160K | $1.2M | $15K | — | — |
| 2022 | $98K | $139K | $1.3M | $16K | — | View 990 |
| 2021 | $99K | $141K | $1.3M | $13K | — | View 990 |
| 2020 | $99K | $136K | $1.4M | $14K | — | View 990 |
| 2019 | $91K | $141K | $1.4M | $12K | — | View 990 |
| 2018 | $96K | $130K | $1.5M | $13K | — | View 990 |
| 2017 | $94K | $131K | $1.5M | $10K | — | View 990 |
| 2016 | $92K | $138K | $1.5M | $13K | — | View 990 |
| 2015 | $95K | $127K | $1.6M | $12K | — | View 990 |
| 2014 | $76K | $104K | $1.6M | $22K | — | View 990 |
| 2013 | $74K | $104K | $1.6M | $24K | — | View 990 |
| 2012 | $67K | $101K | $1.7M | $21K | — | View 990 |
| 2011 | $56K | $96K | $1.7M | $20K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $116K, expenses of $151K, and assets of $1.2M (revenue +16.2% year-over-year).
- 2023: Revenue of $99K, expenses of $160K, and assets of $1.2M (revenue +1.9% year-over-year).
- 2022: Revenue of $98K, expenses of $139K, and assets of $1.3M (revenue -1.9% year-over-year).
- 2021: Revenue of $99K, expenses of $141K, and assets of $1.3M (revenue +1.0% year-over-year).
- 2020: Revenue of $99K, expenses of $136K, and assets of $1.4M (revenue +8.0% year-over-year).
- 2019: Revenue of $91K, expenses of $141K, and assets of $1.4M (revenue -4.6% year-over-year).
- 2018: Revenue of $96K, expenses of $130K, and assets of $1.5M (revenue +1.2% year-over-year).
- 2017: Revenue of $94K, expenses of $131K, and assets of $1.5M (revenue +2.5% year-over-year).
- 2016: Revenue of $92K, expenses of $138K, and assets of $1.5M (revenue -3.0% year-over-year).
- 2015: Revenue of $95K, expenses of $127K, and assets of $1.6M (revenue +24.9% year-over-year).
- 2014: Revenue of $76K, expenses of $104K, and assets of $1.6M (revenue +3.2% year-over-year).
- 2013: Revenue of $74K, expenses of $104K, and assets of $1.6M (revenue +10.3% year-over-year).
- 2012: Revenue of $67K, expenses of $101K, and assets of $1.7M (revenue +19.6% year-over-year).
- 2011: Revenue of $56K, expenses of $96K, and assets of $1.7M.
Data Sources and Methodology
This transparency report for Golden Oaks Apartments Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.