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Astor Assets INC FY2023 filing

Tax-deductible

Boston, MA501(c)(3)Housing EIN 04-3170766Revenue $1.0M in FY2023

On file with the IRSfenwaycdc.org70 Burbank Street, 02115-3666 · Boston, MATax-exempt since Aug 2011Publicly supported — 509(a)(2)

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Astor Assets, INC. (Astor Assets) was organized to promote affordable housing for low and moderate income families and individuals.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · 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
2 of 5
filings with a surplus
Average surplus $53K a year · 7% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5.5M
89% of total assets
Concern: liabilities are 89% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0M
+54% vs prior year
Spent
$764K
To programs
85%
Net assets
$670K
By yearFY2020–FY2024
Revenue
$1.0M
FY2023▲ +54%
Tap a bar for its year
Revenue by fiscal year
FY2020$583K
FY2021$619K
FY2022$658K
FY2023$1.0M
FY2024$975K
Expenses
$764K
FY2023▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$615K
FY2021$619K
FY2022$725K
FY2023$764K
FY2024$858K
Net assets
$670K
FY2023▲ +59%
Tap a bar for its year
Net assets by fiscal year
FY2020$489K
FY2021$489K
FY2022$421K
FY2023$670K
FY2024$787K

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

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

Is it real?

Yes. Exemption reinstated (2010-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Aug 2011.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $652K Management & general 15% · $112K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
Leah Camhi
Clerk (until 11/2023)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Suneeth John
Clerk (as of 11/2023)
$0Pt VII · Sec A
See Astor Assets 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

Promotes affordable housing for low and moderate income families and individuals.

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1 program · $652K · in their own filed words · FY2023
01

Astor assets provides, or helps make available, housing for individuals and families of low and moderate income in massachusetts.

$652Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$949K
Investment incomeLn 3$35K
Other incomeLn 4–11$29K
Money outPt IX
$764K
Ln 25
Programscol B$652K
Managementcol C$112K
Owns and owesPt X
$670K
net assets · Ln 32
Cash and savingsLn 1–2$108K
Total assetsLn 16$6.2M
LiabilitiesLn 26$5.5M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$949K
Investment incomeLn 3$35K
Other incomeLn 4–11$29K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$61K
SavingsLn 2$48K
Cash and savings togetherLn 1–2$108K
Land, buildings, equipmentLn 10c$4.9M
Other assetsLn 15$1.2M
Total assetsLn 16$6.2M
LiabilitiesLn 26$5.5M
Net assetsLn 32$670K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
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$176K$108K
Land, buildings, equipmentLn 10c$4.9M$4.9M
Total assetsLn 16$5.9M$6.2M
LiabilitiesLn 26$5.5M$5.5M
Net assetsLn 32$421K$670K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$96K$96K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$13K$13K
Other fees for servicesLn 11g$118K$53K$65K
Advertising and promotionLn 12$829$829
Office expensesLn 13$25K$25K
OccupancyLn 16$378K$378K
InterestLn 20$34K$34K
Depreciation, depletion and amortizationLn 22$78K$78K
Other expenses (24a–d)Ln 24$13K$13K
Total functional expensesLn 25$764K$652K$112K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $975K$858K$117K$787K 990 PDF
FY2023 Viewing $1.0M$764K$249K$670K 990 PDF
FY2022 $658K$725K−$68K$421K 990 PDF
FY2021 $619K$619K−$522$489K 990 PDF
FY2020 $583K$615K−$31K$489K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $1,013,118 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $646,700$948,935
I-10 Investment incomePrior year $9,407$35,069
I-11 Other revenuePrior year $1,496$29,114
I-12 Total revenuePrior year $657,603$1,013,118
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 $725,188$764,028
I-18 Total expensesPrior year $725,188$764,028
I-19 Revenue less expensesPrior year −$67,585$249,090
Part VI · Governance 3 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members3
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 $1,013,118 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $948,935$948,935
VIII-3 Investment incomeExcluded from tax $35,069$35,069
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $29,114$29,114
VIII-12 Total revenueRelated to mission $978,049 · Unrelated business $0 · Excluded from tax $35,069$1,013,118
Part IX · Statement of functional expenses $764,028 across 10 lines filed
IX-11a Management feesPrograms $95,748$95,748
IX-11b Legal feesManagement $7,788$7,788
IX-11c Accounting feesManagement $13,210$13,210
IX-11g Other fees for servicesPrograms $53,119 · Management $65,150$118,269
IX-12 Advertising and promotionPrograms $829$829
IX-13 Office expensesManagement $25,409$25,409
IX-16 OccupancyPrograms $378,167$378,167
IX-20 InterestPrograms $33,621$33,621
IX-22 Depreciation, depletion and amortizationPrograms $77,576$77,576
IX-24 Other expenses (24a–d)Programs $13,411$13,411
IX-25 Total functional expensesPrograms $652,471 · Management $111,557 · Fundraising $0$764,028
Part X · Balance sheet $6,174,145 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $134,092$60,683
X-2 Savings and temporary cash investmentsStart of year $42,031$47,527
X-4 Accounts receivableStart of year $18,608$30,550
X-9 Prepaid expenses and deferred chargesStart of year $6,983$11,470
X-10c Land, buildings and equipment, netStart of year $4,932,689$4,855,113
X-15 Other assetsStart of year $758,738$1,168,802
X-16 Total assetsStart of year $5,893,141$6,174,145
X-17 Accounts payable and accrued expensesStart of year $94,061$117,757
X-25 Other liabilitiesStart of year $83,606$91,267
X-26 Total liabilitiesStart of year $5,472,013$5,503,927
X-27 Net assets without donor restrictionsStart of year $421,128$670,218
X-32 Total net assets or fund balancesStart of year $421,128$670,218
X-33 Total liabilities and net assetsStart of year $5,893,141$6,174,145
Part XI · Reconciliation of net assets $670,218 net assets at year end
XI-1 Total revenue$1,013,118
XI-2 Total expenses$764,028
XI-3 Revenue less expenses$249,090
XI-4 Net assets at start of year$421,128
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$670,218

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

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