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Altus Realty INC FY2023 filing

Not tax-deductible

Providence, RIMutual-benefit / member-servingCommunity DevelopmentEIN 03-0396397Revenue $1.3M in FY2023

On file with the IRS10 Charles Street, 02904-2249 · Providence, RITax-exempt since Jun 2007

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Title holding company operating to manage the real and personal property (see schedule o) of delta dental of rhode island.

Mission: Form 990 Part I, line 1

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $315K a year · 19% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
5 mo
of spending, in cash
Looks good: 4.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$382K
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 16 voting members
Looks good: 15 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.3M
-3% vs prior year
Spent
$1.3M
Net assets
$4.3M
By yearFY2020–FY2024
Revenue
$1.3M
FY2023▼ -3%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.9M
FY2021$1.7M
FY2022$1.4M
FY2023$1.3M
FY2024$1.8M
Expenses
$1.3M
FY2023▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$1.3M
FY2023$1.3M
FY2024$1.3M
Net assets
$4.3M
FY2023▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.9M
FY2021$4.2M
FY2022$4.3M
FY2023$4.3M
FY2024$4.9M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 2007.

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

Who runs it and what they're paid

22 people listed on the 990.

Part VII, Section A · reportable compensation
Joseph R Perroni
CEO & President
$0Pt VII · Sec A
Richard a Fritz
SR VP Finance & CFO
$0Pt VII · Sec A
George J Bedard
Controller (thru 12/23)
$0Pt VII · Sec A
Melissa Gennari
Avp & Director Compliance
$0Pt VII · Sec A
Joseph Nagle
Former President & CEO (thru 6/2019)
$0Pt VII · Sec A
$0Pt VII · Sec A
James V Rosati
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
See Altus Realty INC 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

Manages real and personal property for Delta Dental of Rhode Island.

Questions for Altus Realty INC

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Altus realty, inc. Is an organization recognized as exempt from taxation as described in internal revenue code section 501(c)(2). Altus realty, inc operates as a title holding company which manages the real and personal property that serves as the main office facility of delta dental rhode island.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.3M
Ln 12
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$24K
Money outPt IX
$1.3M
Ln 25
Owns and owesPt X
$4.3M
net assets · Ln 32
Cash and savingsLn 1–2$515K
Total assetsLn 16$4.7M
LiabilitiesLn 26$382K
PeoplePt VI, VII
22
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$24K
Total revenueLn 12$1.3M
Assets in detailPt X, end of year
CashLn 1$515K
Cash and savings togetherLn 1–2$515K
Land, buildings, equipmentLn 10c$4.2M
Total assetsLn 16$4.7M
LiabilitiesLn 26$382K
Net assetsLn 32$4.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$88K$515K
Land, buildings, equipmentLn 10c$3.7M$4.2M
Total assetsLn 16$3.8M$4.7M
LiabilitiesLn 26−$475K$382K
Net assetsLn 32$4.3M$4.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$56K
OccupancyLn 16$430K
Depreciation, depletion and amortizationLn 22$176K
InsuranceLn 23$23K
Other expenses (24a–d)Ln 24$580K
All other expensesLn 24e$19K
Total functional expensesLn 25$1.3M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.8M$1.3M$565K$4.9M 990 PDF
FY2023 Viewing $1.3M$1.3M$43K$4.3M 990 PDF
FY2022 $1.4M$1.3M$45K$4.3M 990 PDF
FY2021 $1.7M$1.3M$331K$4.2M 990 PDF
FY2020 $1.9M$1.3M$593K$3.9M 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 FY2023 990 (6 parts)
Part I · Summary $1,328,226 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $1,353,203$1,304,201
I-10 Investment incomePrior year $21,532$24,025
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,374,735$1,328,226
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 $1,329,725$1,284,779
I-18 Total expensesPrior year $1,329,725$1,284,779
I-19 Revenue less expensesPrior year $45,010$43,447
Part VI · Governance 15 of 16 board members independent, 1 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members15
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,328,226 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,304,201$1,304,201
VIII-3 Investment incomeExcluded from tax $24,025$24,025
VIII-12 Total revenueRelated to mission $1,304,201 · Unrelated business $0 · Excluded from tax $24,025$1,328,226
Part IX · Statement of functional expenses $1,284,779 across 6 lines filed
IX-11a Management fees$56,097
IX-16 Occupancy$430,460
IX-22 Depreciation, depletion and amortization$176,379
IX-23 Insurance$23,162
IX-24 Other expenses (24a–d)$579,518
IX-24e All other expenses$19,163
IX-25 Total functional expenses$1,284,779
Part X · Balance sheet $4,693,477 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $87,517$514,502
X-4 Accounts receivableStart of year −$36,382−$38,724
X-9 Prepaid expenses and deferred chargesStart of year $71,527$65,751
X-10c Land, buildings and equipment, netStart of year $3,669,832$4,151,948
X-16 Total assetsStart of year $3,792,494$4,693,477
X-17 Accounts payable and accrued expensesStart of year $660,542$792,102
X-25 Other liabilitiesStart of year −$1,135,770−$409,794
X-26 Total liabilitiesStart of year −$475,228$382,308
X-32 Total net assets or fund balancesStart of year $4,267,722$4,311,169
X-33 Total liabilities and net assetsStart of year $3,792,494$4,693,477
Part XI · Reconciliation of net assets $4,311,169 net assets at year end
XI-1 Total revenue$1,328,226
XI-2 Total expenses$1,284,779
XI-3 Revenue less expenses$43,447
XI-4 Net assets at start of year$4,267,722
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,311,169

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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