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Sunset Woods Association FY2024 filing

Tax-deductible

Highland Park, IL501(c)(3)HousingEIN 01-0628727Revenue $141K in FY2024

On file with the IRSCo C Later 1150 Half Day Road, 60035-0000 · Highland Park, ILTax-exempt since Mar 2006Publicly supported — 509(a)(2)

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Provide residential rental facilities within the city of highland park, illinois for senior citizens of low and moderate income.

501(c)(3) charity; gifts are tax-deductible.
37¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $21K a year · 13% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
37%
of spending
Concern: 37% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
14 mo
of spending, in cash
Looks good: 13.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$667K
58% of total assets
Fine: liabilities are 58% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$141K
-44% vs prior year
Spent
$222K
To programs
37%
Net assets
$492K
By yearFY2020–FY2025
Revenue
$141K
FY2024▼ -44%
Tap a bar for its year
Revenue by fiscal year
FY2020$132K
FY2021$146K
FY2022$132K
FY2023$250K
FY2024$141K
FY2025$148K
Expenses
$222K
FY2024▲ +23%
Tap a bar for its year
Expenses by fiscal year
FY2020$160K
FY2021$159K
FY2022$167K
FY2023$181K
FY2024$222K
FY2025$184K
Net assets
$492K
FY2024▼ -14%
Tap a bar for its year
Net assets by fiscal year
FY2020$551K
FY2021$538K
FY2022$503K
FY2023$573K
FY2024$492K
FY2025$456K

From the FY2024 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2006.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

37 cents of each dollar spent went to programs.

Program services 37% · $81K Management & general 63% · $141K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Sherri Farris
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Jeremy Rosen
Director
$0Pt VII · Sec A
See Sunset Woods Association executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers affordable rental housing for low-income seniors in Highland Park.

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Provided by the organization

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1 program · $81K · in their own filed words · FY2024
01

Provide residential rental facilities within the city of highland park, illinois for senior citizens of low and moderate income.

$81Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$141K
Ln 12
Fees for servicesLn 2g$141K
Investment incomeLn 3$76
Money outPt IX
$222K
Ln 25
Programscol B$81K
Managementcol C$141K
Owns and owesPt X
$492K
net assets · Ln 32
Cash and savingsLn 1–2$252K
Total assetsLn 16$1.2M
LiabilitiesLn 26$667K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$141K
Investment incomeLn 3$76
Total revenueLn 12$141K
Assets in detailPt X, end of year
CashLn 1$132K
SavingsLn 2$120K
Cash and savings togetherLn 1–2$252K
Land, buildings, equipmentLn 10c$893K
Other assetsLn 15$13K
Total assetsLn 16$1.2M
LiabilitiesLn 26$667K
Net assetsLn 32$492K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$284K$252K
Land, buildings, equipmentLn 10c$941K$893K
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$666K$667K
Net assetsLn 32$573K$492K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$18K$18K
InterestLn 20$32K$32K
Depreciation, depletion and amortizationLn 22$48K$48K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$117K$27K$90K
All other expensesLn 24e$3K$3K
Total functional expensesLn 25$222K$81K$141K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $148K$184K−$36K$456K 990 PDF
FY2024 Viewing $141K$222K−$81K$492K 990 PDF
FY2023 $250K$181K$70K$573K 990 PDF
FY2022 $132K$167K−$35K$503K 990 PDF
FY2021 $146K$159K−$13K$538K 990 PDF
FY2020 $132K$160K−$29K$551K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $141,389 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $106,048$0
I-9 Program service revenuePrior year $142,588$141,313
I-10 Investment incomePrior year $71$76
I-11 Other revenuePrior year $1,573$0
I-12 Total revenuePrior year $250,280$141,389
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $180,672$221,994
I-18 Total expensesPrior year $180,672$221,994
I-19 Revenue less expensesPrior year $69,608−$80,605
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $141,389 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $141,313$141,313
VIII-3 Investment incomeExcluded from tax $76$76
VIII-12 Total revenueRelated to mission $141,313 · Unrelated business $0 · Excluded from tax $76$141,389
Part IX · Statement of functional expenses $221,994 across 6 lines filed
IX-11c Accounting feesManagement $18,450$18,450
IX-20 InterestManagement $31,944$31,944
IX-22 Depreciation, depletion and amortizationPrograms $47,819$47,819
IX-23 InsurancePrograms $3,978$3,978
IX-24 Other expenses (24a–d)Programs $26,757 · Management $90,335$117,092
IX-24e All other expensesPrograms $2,711$2,711
IX-25 Total functional expensesPrograms $81,265 · Management $140,729 · Fundraising $0$221,994
Part X · Balance sheet $1,159,718 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $165,733$132,351
X-2 Savings and temporary cash investmentsStart of year $117,866$120,003
X-9 Prepaid expenses and deferred chargesStart of year $1,080$1,080
X-10c Land, buildings and equipment, netStart of year $940,903$893,084
X-15 Other assetsStart of year $13,152$13,200
X-16 Total assetsStart of year $1,238,734$1,159,718
X-25 Other liabilitiesStart of year $11,961$12,300
X-26 Total liabilitiesStart of year $665,893$667,482
X-27 Net assets without donor restrictionsStart of year $572,841$492,236
X-32 Total net assets or fund balancesStart of year $572,841$492,236
X-33 Total liabilities and net assetsStart of year $1,238,734$1,159,718
Part XI · Reconciliation of net assets $492,236 net assets at year end
XI-1 Total revenue$141,389
XI-2 Total expenses$221,994
XI-3 Revenue less expenses−$80,605
XI-4 Net assets at start of year$572,841
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$492,236

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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