Apartment Life

The information on this page was last updated 5/18/2023. If you see errors or omissions, please email: [email protected]


Summary



Apartment Life is a faith-based, non-profit organization that has been serving the apartment industry since 2000.


Contact information

Mailing address:
Apartment Life
PO Box 650951
Dallas, TX 75265

Website: apartmentlife.org

Phone: 817-685-2963

Email: [email protected]


Organization details

EIN: 752868621

CEO/President: Pete Kelly

Chairman: Keith Dunkin

Board size: 14

Founder: Stan Dobbs

Ruling year: 2000

Tax deductible: Yes

Fiscal year end: 12/31

Member of ECFA: Yes

Member of ECFA since: 2020


Purpose

Community is good for both people and business. Unfortunately, many apartment residents feel completely disconnected from their neighbors.

Apartment Life helps apartment owners care for residents by connecting them in relationships. This, in turn, helps improve the community's financial performance through online reputation, resident satisfaction, and resident retention. Changing business. Changing lives.


Mission statement

We believe every individual is created for community and that we are called to love our neighbor as ourselves. Our goal is to live this out while providing strong business value to apartment owners.


Statement of faith

Donor confidence score

Show donor confidence score details

Transparency grade

A

To understand our transparency grade, click here.


Financial efficiency ratings

Sector: Community Development

CategoryRatingOverall rankSector rank
Overall efficiency rating36 of 10977 of 122
Fund acquisition rating270 of 109830 of 122
Resource allocation rating57 of 109813 of 122
Asset utilization rating74 of 10976 of 122

Financial ratios

Funding ratiosSector median20232022202120202019
Return on fundraising efforts Return on fundraising efforts =
Fundraising expense /
Total contributions
8%3%3%3%1%1%
Fundraising cost ratio Fundraising cost ratio =
Fundraising expense /
Total revenue
5%2%3%2%1%1%
Contributions reliance Contributions reliance =
Total contributions /
Total revenue
93%73%79%79%81%81%
Fundraising expense ratio Fundraising expense ratio =
Fundraising expense /
Total expenses
6%2%3%2%1%1%
Other revenue reliance Other revenue reliance =
Total other revenue /
Total revenue
7%27%21%21%19%19%
 
Operating ratiosSector median20232022202120202019
Program expense ratio Program expense ratio =
Program services /
Total expenses
83%94%93%94%95%95%
Spending ratio Spending ratio =
Total expenses /
Total revenue
98%97%98%98%92%98%
Program output ratio Program output ratio =
Program services /
Total revenue
80%91%91%91%88%92%
Savings ratio Savings ratio =
Surplus (deficit) /
Total revenue
2%3%2%2%8%2%
Reserve accumulation rate Reserve accumulation rate =
Surplus (deficit) /
Net assets
2%19%14%15%57%34%
General and admin ratio General and admin ratio =
Management and general expense /
Total expenses
11%4%5%4%4%4%
 
Investing ratiosSector median20232022202120202019
Total asset turnover Total asset turnover =
Total expenses /
Total assets
0.893.903.663.974.287.59
Degree of long-term investment Degree of long-term investment =
Total assets /
Total current assets
1.791.401.011.031.041.06
Current asset turnover Current asset turnover =
Total expenses /
Total current assets
1.925.493.694.104.448.02
 
Liquidity ratiosSector median20232022202120202019
Current ratio Current ratio =
Total current assets /
Total current liabilities
15.2656.738.9711.5861.099.94
Current liabilities ratio Current liabilities ratio =
Total current liabilities /
Total current assets
0.060.020.110.090.020.10
Liquid reserve level Liquid reserve level =
(Total current assets -
Total current liabilities) /
(Total expenses / 12)
5.792.152.892.672.661.35
 
Solvency ratiosSector median20232022202120202019
Liabilities ratio Liabilities ratio =
Total liabilities /
Total assets
10%37%45%41%38%49%
Debt ratio Debt ratio =
Debt /
Total assets
0%0%0%0%0%0%
Reserve coverage ratio Reserve coverage ratio =
Net assets /
Total expenses
97%16%15%15%14%7%

Financials

Balance sheet
 
Assets20232022202120202019
Cash$4,116,496$5,588,765$5,014,467$3,507,369$1,514,751
Receivables, inventories, prepaids$1,375,607$1,543,530$603,493$1,018,749$778,216
Short-term investments$0$0$0$0$0
Other current assets$0$0$0$0$0
Total current assets$5,492,103$7,132,295$5,617,960$4,526,118$2,292,967
Long-term investments$2,189,490$50,000$50,000$50,000$0
Fixed assets$0$0$0$0$2,223
Other long-term assets$34,214$5,647$139,966$119,642$127,499
Total long-term assets$2,223,704$55,647$189,966$169,642$129,722
Total assets$7,715,807$7,187,942$5,807,926$4,695,760$2,422,689
 
Liabilities20232022202120202019
Payables and accrued expenses$20,281$18,075$12,764$74,090$230,573
Other current liabilities$76,525$776,635$472,343$0$0
Total current liabilities$96,806$794,710$485,107$74,090$230,573
Debt$0$0$0$0$0
Due to (from) affiliates$0$0$0$0$0
Other long-term liabilities$2,720,971$2,421,881$1,907,736$1,733,054$962,548
Total long-term liabilities$2,720,971$2,421,881$1,907,736$1,733,054$962,548
Total liabilities$2,817,777$3,216,591$2,392,843$1,807,144$1,193,121
 
Net assets20232022202120202019
Without donor restrictions$4,882,081$3,953,098$3,338,643$2,826,546$1,216,103
With donor restrictions$15,949$18,253$76,440$62,070$13,465
Net assets$4,898,030$3,971,351$3,415,083$2,888,616$1,229,568
 
Revenues and expenses
 
Revenue20232022202120202019
Total contributions$22,589,336$21,259,036$18,724,018$17,703,095$15,159,010
Program service revenue$8,020,036$5,729,213$4,725,835$4,030,809$3,760,519
Membership dues$0$0$0$0$0
Investment income$366,795$85,853$47,716$9,453$4,627
Other revenue$76,678($176,492)$61,278$23,837($118,988)
Total other revenue$8,463,509$5,638,574$4,834,829$4,064,099$3,646,158
Total revenue$31,052,845$26,897,610$23,558,847$21,767,194$18,805,168
 
Expenses20232022202120202019
Program services$28,397,488$24,455,429$21,543,429$19,105,666$17,375,864
Management and general$1,137,160$1,201,084$968,694$825,067$815,856
Fundraising$591,518$684,829$520,257$177,413$194,698
Total expenses$30,126,166$26,341,342$23,032,380$20,108,146$18,386,418
 
Change in net assets20232022202120202019
Surplus (deficit)$926,679$556,268$526,467$1,659,048$418,750
Other changes in net assets$0$0$0$0$0
Total change in net assets$926,679$556,268$526,467$1,659,048$418,750

Compensation

NameTitleCompensation
Pete KellyCEO$254,506
Kelly KimberlinDivisional Pres.$172,139
Kelly JonesCOO$168,451
David MarshallDivisional Pres.$161,264
Jaclyn RatzlaffDivisional Pres.$159,330
Kiley SharpDivisional Pres.$156,603
Randall GinnanVP Ptnr Relations$152,709
Ryan WilliamsCPO$129,139
Stan DobbsFounder$125,000
Sommer ClaymanCFO$103,851

Compensation data as of: 12/31/2023


Response from ministry

No response has been provided by this ministry.


The information below was provided to MinistryWatch by the ministry itself. It was last updated 5/18/2023. To update the information below, please email: [email protected]


History

After a career in the computer industry, Stan attended seminary in Fort Worth Texas and developed a passion for serving apartment communities while on staff at a church. Seeing the apartment industry's need for help in creating real community, Stan launched Apartment Life in 2000 with the support of several apartment industry executives, many of whom serve on the Board of Directors. Stan lives in the Dallas/Fort Worth area with his wife Vicky. They have four children - Amelia, Aaron, Elliott, and Graham.


Program accomplishments


Needs