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Foster Senior Housing INC

IRS exemption revoked

Foster, RIUnknown exempt organization EIN 05-0384420Revenue $448K in FY2021Latest return filed Sep 12, 2022

On file with the IRS110 Foster Center Road · Foster, RI

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Own and operate a 30 unit elderly complex under usda rural development guidelines

92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average surplus $684 a year · under 1% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.4M
101% of total assets
Concern: liabilities are 101% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$448K
-0.4% vs prior year
Spent
$458K
To programs
92%
Net assets
−$10K
By yearFY2020–FY2021
Revenue
$448K
FY2021-0.4%
Tap a bar for its year
Revenue by fiscal year
FY2020$449K
FY2021$448K
Expenses
$458K
FY2021▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$437K
FY2021$458K
Net assets
−$10K
FY2021▼ -1142%
Tap a bar for its year
Net assets by fiscal year
FY2020$926
FY2021−$10K

From the FY2021 Form 990 · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on May 15, 2025

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $423K Management & general 8% · $36K

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

Something off? Claim to add context

Who runs it and what they're paid

9 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
$0Pt VII · Sec A
$0Pt VII · Sec A
Lynne Rider
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Foster Senior Housing INC executive salaries →

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

Provides affordable housing for seniors in a 30-unit complex.

Questions for Foster Senior Housing INC

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Your first name shows with your question. Foster Senior Housing INC answers here, for everyone.

1 program · $423K · in their own filed words · FY2021
01

The entity owns and operates a government sponsored, 30 unit elderly housing apartment complex located in foster, rhode island. The entity has a rental assistance contract with rural development which provides for rental and interest subsidies.

$423Kprogram expense

Funders

Who pays for it.

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

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Dec 2021 · $1.7M federal money spent
Rural Rental Housing LoansDepartment of Agriculture · ALN 10.415 · Direct$1.5M
Rural Rental Assistance PaymentsDepartment of Agriculture · ALN 10.427 · Direct$194K

The auditor reported no findings.

Year ending Dec 2020 · $1.8M federal money spent
Rural Rental Housing LoansDepartment of Agriculture · ALN 10.415 · Direct$1.6M
Rural Rental Assistance PaymentsDepartment of Agriculture · ALN 10.427 · Direct$191K

The auditor reported no findings.

Year ending Dec 2019 · $1.8M federal money spent
Rural Rental Housing LoansDepartment of Agriculture · ALN 10.415 · Direct$1.6M
Rural Rental Assistance PaymentsDepartment of Agriculture · ALN 10.427 · Direct$195K

The auditor reported no findings.

Year ending Dec 2018 · $1.8M federal money spent
Rural Rental Housing LoansDepartment of Agriculture · ALN 10.415 · Direct$1.6M
Rural Rental Assistance PaymentsDepartment of Agriculture · ALN 10.427 · Direct$200K

The auditor reported no findings.

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$448K
Ln 12
Gifts and grantsLn 1h$313K
Fees for servicesLn 2g$132K
Investment incomeLn 3$3K
Money outPt IX
$458K
Ln 25
Programscol B$423K
Managementcol C$36K
Owns and owesPt X
−$10K
net assets · Ln 32
Cash and savingsLn 1–2$72K
Total assetsLn 16$1.4M
LiabilitiesLn 26$1.4M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$313K
Government grantsLn 1e$313K
Fees for servicesLn 2g$132K
Investment incomeLn 3$3K
Total revenueLn 12$448K
Assets in detailPt X, end of year
CashLn 1$72K
Cash and savings togetherLn 1–2$72K
Land, buildings, equipmentLn 10c$961K
Other assetsLn 15$362K
Total assetsLn 16$1.4M
LiabilitiesLn 26$1.4M
Net assetsLn 32−$10K
OperationsPt I, VI
EmployeesI 50
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 FY21End FY21
Cash and savingsLn 1–2$64K$72K
Land, buildings, equipmentLn 10c$1.0M$961K
Total assetsLn 16$1.5M$1.4M
LiabilitiesLn 26$1.5M$1.4M
Net assetsLn 32$926−$10K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$26K$26K
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$318$318
Advertising and promotionLn 12$51$51
Office expensesLn 13$371$258$113
InterestLn 20$126K$126K
Depreciation, depletion and amortizationLn 22$88K$88K
InsuranceLn 23$16K$15K$1K
Other expenses (24a–d)Ln 24$165K$165K
All other expensesLn 24e$30K$28K$2K
Total functional expensesLn 25$458K$423K$36K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest ViewingFiled with the IRS Sep 12, 2022 $448K$458K−$11K−$10K 990 PDF
FY2020Filed with the IRS Jun 17, 2021 $449K$437K$12K$926 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $447,700 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $309,508$312,615
I-9 Program service revenuePrior year $136,099$132,389
I-10 Investment incomePrior year $3,730$2,696
I-11 Other revenue$0
I-12 Total revenuePrior year $449,337$447,700
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $437,389$458,279
I-18 Total expensesPrior year $437,389$458,279
I-19 Revenue less expensesPrior year $11,948−$10,579
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $447,700 across 5 lines filed
VIII-1e Government grants$312,615
VIII-1h Total contributions, gifts and grants$312,615
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $132,389$132,389
VIII-3 Investment incomeExcluded from tax $2,696$2,696
VIII-12 Total revenueRelated to mission $132,389 · Excluded from tax $2,696$447,700
Part IX · Statement of functional expenses $458,279 across 10 lines filed
IX-11a Management feesManagement $26,328$26,328
IX-11c Accounting feesManagement $5,559$5,559
IX-11g Other fees for servicesManagement $318$318
IX-12 Advertising and promotionPrograms $51$51
IX-13 Office expensesPrograms $258 · Management $113$371
IX-20 InterestPrograms $125,918$125,918
IX-22 Depreciation, depletion and amortizationPrograms $87,938$87,938
IX-23 InsurancePrograms $15,385 · Management $1,100$16,485
IX-24 Other expenses (24a–d)Programs $165,181$165,181
IX-24e All other expensesPrograms $27,991 · Management $2,139$30,130
IX-25 Total functional expensesPrograms $422,722 · Management $35,557 · Fundraising $0$458,279
Part X · Balance sheet $1,403,481 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $63,827$72,395
X-4 Accounts receivableStart of year $12,602$5,537
X-9 Prepaid expenses and deferred chargesStart of year $3,140$3,140
X-10c Land, buildings and equipment, netStart of year $1,041,915$960,614
X-15 Other assetsStart of year $329,647$361,795
X-16 Total assetsStart of year $1,451,131$1,403,481
X-17 Accounts payable and accrued expensesStart of year $11,836$15,769
X-25 Other liabilitiesStart of year $8,751$8,751
X-26 Total liabilitiesStart of year $1,450,205$1,413,134
X-27 Net assets without donor restrictionsStart of year $926−$9,653
X-32 Total net assets or fund balancesStart of year $926−$9,653
X-33 Total liabilities and net assetsStart of year $1,451,131$1,403,481
Part XI · Reconciliation of net assets −$9,653 net assets at year end
XI-1 Total revenue$447,700
XI-2 Total expenses$458,279
XI-3 Revenue less expenses−$10,579
XI-4 Net assets at start of year$926
XI-10 Net assets at end of year−$9,653

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

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