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Saint Elizabeth Development Corporation

Not tax-deductible

Warwick, RIMutual-benefit / member-servingCommunity Development EIN 05-0506057Revenue $102K in FY2024

On file with the IRSstelizabethcommunity.org2364 Post Rd Ste 100, 02886-2232 · Warwick, RITax-exempt since Aug 1999

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St. Elizabeth Development Corporation was established for the exclusive purposes of acquiring property and holding title of real and personal property on behalf of Saint Elizabeth home, the corporation's sole corporate member.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · 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
0 of 5
filings with a surplus
Average deficit $50K a year · 49% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$9K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$102K
0% vs prior year
Spent
$153K
To programs
100%
Net assets
$4.4M
By yearFY2020–FY2024
Revenue
$102K
FY20240%
Tap a bar for its year
Revenue by fiscal year
FY2020$85K
FY2021$101K
FY2022$124K
FY2023$102K
FY2024$102K
Expenses
$153K
FY2024▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2020$151K
FY2021$160K
FY2022$165K
FY2023$136K
FY2024$153K
Net assets
$4.4M
FY2024▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.6M
FY2021$4.5M
FY2022$4.5M
FY2023$4.5M
FY2024$4.4M

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1999.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $153K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Judy W Vigar
Secretary
$0Pt VII · Sec A
Craig W Carpenter
Immediate Past Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Saint Elizabeth Development Corporation 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 15aYes

Programs and updates

Acquires and holds property for Saint Elizabeth Home.

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1 program · $153K · in their own filed words · FY2024
01

Acquiring property and holding title of real and personal property on behalf of saint elizabeth home, the coporation's sole corporate member.

$153Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$102K
Ln 12
Fees for servicesLn 2g$102K
Money outPt IX
$153K
Ln 25
Programscol B$153K
Owns and owesPt X
$4.4M
net assets · Ln 32
Cash and savingsLn 1–2$26K
Total assetsLn 16$4.4M
LiabilitiesLn 26$9K
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$102K
Total revenueLn 12$102K
Assets in detailPt X, end of year
CashLn 1$26K
Cash and savings togetherLn 1–2$26K
Land, buildings, equipmentLn 10c$4.4M
Other assetsLn 15$4K
Total assetsLn 16$4.4M
LiabilitiesLn 26$9K
Net assetsLn 32$4.4M
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 FY24End FY24
Cash and savingsLn 1–2$89K$26K
Land, buildings, equipmentLn 10c$4.4M$4.4M
Total assetsLn 16$4.5M$4.4M
LiabilitiesLn 26$20K$9K
Net assetsLn 32$4.5M$4.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$2K
Office expensesLn 13$1K$1K
OccupancyLn 16$127K$127K
Depreciation, depletion and amortizationLn 22$7K$7K
Other expenses (24a–d)Ln 24$15K$15K
All other expensesLn 24e$22$22
Total functional expensesLn 25$153K$153K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $102K$153K−$51K$4.4M 990 PDF
FY2023 $102K$136K−$34K$4.5M 990 PDF
FY2022 $124K$165K−$42K$4.5M 990 PDF
FY2021 $101K$160K−$59K$4.5M 990 PDF
FY2020 $85K$151K−$65K$4.6M 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 FY2024 990 (6 parts)
Part I · Summary $102,156 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $102,156$102,156
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $102,156$102,156
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 $135,878$153,104
I-18 Total expensesPrior year $135,878$153,104
I-19 Revenue less expensesPrior year −$33,722−$50,948
Part VI · Governance 13 of 13 board members independent, no flags
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $102,156 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $102,156$102,156
VIII-12 Total revenueRelated to mission $102,156 · Unrelated business $0 · Excluded from tax $0$102,156
Part IX · Statement of functional expenses $153,104 across 6 lines filed
IX-11c Accounting feesPrograms $1,838$1,838
IX-13 Office expensesPrograms $1,202$1,202
IX-16 OccupancyPrograms $127,212$127,212
IX-22 Depreciation, depletion and amortizationPrograms $7,480$7,480
IX-24 Other expenses (24a–d)Programs $15,350$15,350
IX-24e All other expensesPrograms $22$22
IX-25 Total functional expensesPrograms $153,104 · Management $0 · Fundraising $0$153,104
Part X · Balance sheet $4,430,117 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $89,446$26,326
X-4 Accounts receivableStart of year $251$8,764
X-9 Prepaid expenses and deferred chargesStart of year $3,588$0
X-10c Land, buildings and equipment, netStart of year $4,398,728$4,391,248
X-15 Other assetsStart of year $417$3,779
X-16 Total assetsStart of year $4,492,430$4,430,117
X-17 Accounts payable and accrued expensesStart of year $5,845$6,668
X-19 Deferred revenueStart of year $0$1,912
X-25 Other liabilitiesStart of year $14,100$0
X-26 Total liabilitiesStart of year $19,945$8,580
X-27 Net assets without donor restrictionsStart of year $4,472,485$4,421,537
X-32 Total net assets or fund balancesStart of year $4,472,485$4,421,537
X-33 Total liabilities and net assetsStart of year $4,492,430$4,430,117
Part XI · Reconciliation of net assets $4,421,537 net assets at year end
XI-1 Total revenue$102,156
XI-2 Total expenses$153,104
XI-3 Revenue less expenses−$50,948
XI-4 Net assets at start of year$4,472,485
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,421,537

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

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