Tamarisk INC FY2021 filing

Tax-deductible

Warwick, RI501(c)(3)Since 2002HousingEIN 03-0475508Revenue $4.5M in FY2021

On file with the IRStamariskri.orgThree Shalom Drive, 02886-1695 · Warwick, RITax-exempt since May 2003Publicly supported — 509(a)(2)

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The operation of an assisted living facility

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$128K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · 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
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
0 of 5
filings with a surplus
Average deficit $807K a year · 19% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$128K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$13.2M
169% of total assets
Concern: liabilities are 169% of assets; over 80%.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.5M
-8% vs prior year
Spent
$4.8M
To programs
82%
Net assets
−$5.4M
By yearFY2020–FY2024
Revenue
$4.5M
FY2021▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.9M
FY2021$4.5M
FY2022$4.2M
FY2023$3.4M
FY2024$3.9M
FY2024$5.7M
Expenses
$4.8M
FY2021▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.1M
FY2021$4.8M
FY2022$5.0M
FY2023$5.0M
FY2024$4.9M
FY2024$5.4M
Net assets
−$5.4M
FY2021▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2020−$5.0M
FY2021−$5.4M
FY2022−$6.2M
FY2023−$6.8M
FY2024−$7.9M
FY2024−$7.7M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 May 2003.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $4.0M Management & general 18% · $880K

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

24 people listed on the 990; $128K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Director
$128,339Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Helayne Goldstein-Ramirez’s $128K as Exec Dir. of Tamarisk is at the 57th percentile of top reported officer pay among 2036 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2024FY2022FY2021FY2020
Roberta Ragge——$133,398$128,339$126,336
Helayne Goldstein-Ramirez$128,145$96,530———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Provides housing and care for seniors needing assistance.

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Provided by the organization

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1 program · $4.0M · in their own filed words · FY2020
01

The organization's operations consist of owning and operating a 73-UNIT assisted living community, with 49 traditional assisted living apartments and 24 dementia care residences, located in warwick, rhode island.

$4.0Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2021
Total grants receivedfrom 1 funder$25K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$4.5M
Ln 12
Fees for servicesLn 2g$3.7M
Gifts and grantsLn 1h$720K
Other incomeLn 4–11$20K
Money outPt IX
$4.8M
Ln 25
Programscol B$4.0M
Managementcol C$880K
Owns and owesPt X
−$5.4M
net assets · Ln 32
Cash and savingsLn 1–2$383K
Total assetsLn 16$7.8M
LiabilitiesLn 26$13.2M
PeoplePt VI, VII
24
listed · VII A
PaidVII A1
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$720K
Government grantsLn 1e$697K
Fees for servicesLn 2g$3.7M
Investment incomeLn 3$3K
Other incomeLn 4–11$20K
Total revenueLn 12$4.5M
Assets in detailPt X, end of year
CashLn 1$383K
Cash and savings togetherLn 1–2$383K
Land, buildings, equipmentLn 10c$6.2M
Other assetsLn 15$912K
Total assetsLn 16$7.8M
LiabilitiesLn 26$13.2M
Net assetsLn 32−$5.4M
OperationsPt I, VI
EmployeesI 595
VolunteersI 620
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$696K$383K
Land, buildings, equipmentLn 10c$6.5M$6.2M
Total assetsLn 16$8.6M$7.8M
LiabilitiesLn 26$13.7M$13.2M
Net assetsLn 32−$5.0M−$5.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$135K$81K$54K
Other salaries and wagesLn 7$2.0M$1.8M$287K
Other employee benefitsLn 9$239K$206K$33K
Payroll taxesLn 10$190K$164K$27K
Management feesLn 11a$161K$138K$23K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$24K$21K$3K
Other fees for servicesLn 11g$276K$238K$39K
Advertising and promotionLn 12$52K$3K$49K
Office expensesLn 13$92K$68K$24K
Information technologyLn 14$20K$15K$5K
OccupancyLn 16$528K$391K$137K
TravelLn 17$27K$27K
InterestLn 20$290K$215K$76K
Depreciation, depletion and amortizationLn 22$343K$254K$89K
InsuranceLn 23$116K$86K$30K
Other expenses (24a–d)Ln 24$293K$293K
Total functional expensesLn 25$4.8M$4.0M$880K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $3.9M$4.9M−$990K−$7.9M 990 PDF
FY2023 $3.4M$5.0M−$1.6M−$6.8M 990 PDF
FY2022 $4.2M$5.0M−$842K−$6.2M 990 PDF
FY2021 Viewing $4.5M$4.8M−$364K−$5.4M 990 PDF
FY2020 $4.9M$5.1M−$255K−$5.0M 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 FY2021 990 (6 parts)
Part I · Summary $4,476,052 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $57,835$719,968
I-9 Program service revenuePrior year $4,760,774$3,732,975
I-10 Investment incomePrior year $3,647$3,024
I-11 Other revenuePrior year $29,630$20,085
I-12 Total revenuePrior year $4,851,886$4,476,052
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 $2,864,118$2,613,722
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,242,707$2,225,968
I-18 Total expensesPrior year $5,106,825$4,839,690
I-19 Revenue less expensesPrior year −$254,939−$363,638
Part VI · Governance 17 of 17 board members independent, 1 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $4,476,052 across 7 lines filed
VIII-1e Government grants$697,094
VIII-1f All other contributions, gifts and grants$22,874
VIII-1h Total contributions, gifts and grants$719,968
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,732,975$3,732,975
VIII-3 Investment incomeExcluded from tax $3,024$3,024
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $11,273 · Unrelated business $8,812$20,085
VIII-12 Total revenueRelated to mission $3,744,248 · Unrelated business $8,812 · Excluded from tax $3,024$4,476,052
Part IX · Statement of functional expenses $4,839,690 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $81,291 · Management $54,194$135,485
IX-7 Other salaries and wagesPrograms $1,762,141 · Management $286,860$2,049,001
IX-9 Other employee benefitsPrograms $205,550 · Management $33,462$239,012
IX-10 Payroll taxesPrograms $163,593 · Management $26,631$190,224
IX-11a Management feesPrograms $138,257 · Management $22,507$160,764
IX-11b Legal feesManagement $3,606$3,606
IX-11c Accounting feesPrograms $20,769 · Management $3,381$24,150
IX-11g Other fees for servicesPrograms $237,545 · Management $38,670$276,215
IX-12 Advertising and promotionPrograms $3,125 · Management $48,961$52,086
IX-13 Office expensesPrograms $67,800 · Management $23,821$91,621
IX-14 Information technologyPrograms $14,556 · Management $5,114$19,670
IX-16 OccupancyPrograms $391,069 · Management $137,402$528,471
IX-17 TravelPrograms $26,902$26,902
IX-20 InterestPrograms $214,968 · Management $75,529$290,497
IX-22 Depreciation, depletion and amortizationPrograms $253,817 · Management $89,180$342,997
IX-23 InsurancePrograms $85,981 · Management $30,210$116,191
IX-24 Other expenses (24a–d)Programs $292,798$292,798
IX-25 Total functional expensesPrograms $3,960,162 · Management $879,528 · Fundraising $0$4,839,690
Part X · Balance sheet $7,804,909 assets, 17 lines filed
Asset lines not itemized here account for $87,000; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $695,664$382,985
X-4 Accounts receivableStart of year $141,723$144,048
X-8 Inventories for sale or useStart of year $28,454$26,426
X-9 Prepaid expenses and deferred chargesStart of year $60,035$70,286
X-10c Land, buildings and equipment, netStart of year $6,496,712$6,182,324
X-15 Other assetsStart of year $1,131,239$911,840
X-16 Total assetsStart of year $8,640,827$7,804,909
X-17 Accounts payable and accrued expensesStart of year $470,141$356,122
X-19 Deferred revenueStart of year $304,011$270,544
X-20 Tax-exempt bond liabilitiesStart of year $8,126,404$7,835,778
X-24 Unsecured notes and loans payableStart of year $585,321$553,795
X-25 Other liabilitiesStart of year $4,179,894$4,177,252
X-26 Total liabilitiesStart of year $13,665,771$13,193,491
X-27 Net assets without donor restrictionsStart of year −$5,044,609−$5,408,247
X-28 Net assets with donor restrictionsStart of year $19,665$19,665
X-32 Total net assets or fund balancesStart of year −$5,024,944−$5,388,582
X-33 Total liabilities and net assetsStart of year $8,640,827$7,804,909
Part XI · Reconciliation of net assets −$5,388,582 net assets at year end
XI-1 Total revenue$4,476,052
XI-2 Total expenses$4,839,690
XI-3 Revenue less expenses−$363,638
XI-4 Net assets at start of year−$5,024,944
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$5,388,582

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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