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Greater Centennial Homes Housing

IRS exemption revoked

Mount Vernon, NYUnknown exempt organization EIN 13-2768939Revenue $3.7M in FY2021

On file with the IRS114 West Fourth Street · Mount Vernon, NY

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To provide Housing for low and moderate income families.

79¢ of each $1 spent went to programs.
Run by 3 volunteers and 7 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

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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
2 of 2
filings with a surplus
Average surplus $602K a year · 18% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 7.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$12.4M
101% of total assets
Concern: liabilities are 101% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.7M
+26% vs prior year
Spent
$2.5M
To programs
79%
Net assets
−$121K
By yearFY2020–FY2021
Revenue
$3.7M
FY2021▲ +26%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.9M
FY2021$3.7M
Expenses
$2.5M
FY2021▼ -14%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.9M
FY2021$2.5M
Net assets
−$121K
FY2021▲ +91%
Tap a bar for its year
Net assets by fiscal year
FY2020−$1.3M
FY2021−$121K

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

990 PDF Claim
IRS revoked this organization's tax-exempt status on November 15, 2024

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

79 cents of each dollar spent went to programs.

Program services 79% · $2.0M Management & general 21% · $532K

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 · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Rodney Olden
Treasurer
$0Pt VII · Sec A
Lois Coleman
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Greater Centennial Homes Housing 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

Offers homes to families with limited incomes.

Questions for Greater Centennial Homes Housing

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Provided by the organization

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1 program · $2.0M · in their own filed words · FY2020
01

Greater centennial homes housing development fund company, inc. (the "project") was incorporated in january 1981, as a not-for-profit company, incorporated under the laws of the state of new york. The project is sponsored by greater centennial A.M.E.

$2.0Mprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.7M
Ln 12
Fees for servicesLn 2g$3.7M
Other incomeLn 4–11$15K
Investment incomeLn 3$733
Money outPt IX
$2.5M
Ln 25
Programscol B$2.0M
Managementcol C$532K
Owns and owesPt X
−$121K
net assets · Ln 32
Cash and savingsLn 1–2$1.5M
Total assetsLn 16$12.3M
LiabilitiesLn 26$12.4M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.7M
Investment incomeLn 3$733
Other incomeLn 4–11$15K
Total revenueLn 12$3.7M
Assets in detailPt X, end of year
CashLn 1$1.2M
SavingsLn 2$348K
Cash and savings togetherLn 1–2$1.5M
Land, buildings, equipmentLn 10c$10.5M
Other assetsLn 15$102K
Total assetsLn 16$12.3M
LiabilitiesLn 26$12.4M
Net assetsLn 32−$121K
OperationsPt I, VI
EmployeesI 57
VolunteersI 63
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
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$675K$1.5M
Land, buildings, equipmentLn 10c$10.7M$10.5M
Total assetsLn 16$11.7M$12.3M
LiabilitiesLn 26$13.0M$12.4M
Net assetsLn 32−$1.3M−$121K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$240K$180K$60K
Other employee benefitsLn 9$94K$70K$23K
Payroll taxesLn 10$28K$21K$7K
Management feesLn 11a$178K$178K
Legal feesLn 11b$23K$23K
Accounting feesLn 11c$32K$32K
Other fees for servicesLn 11g$84K$71K$13K
Office expensesLn 13$25K$599$24K
Information technologyLn 14$4K$4K
OccupancyLn 16$1.1M$1.1M$10K
Conferences, conventions and meetingsLn 19$64$64
Depreciation, depletion and amortizationLn 22$274K$274K
InsuranceLn 23$250K$250K$455
Other expenses (24a–d)Ln 24$205K$46K$158K
Total functional expensesLn 25$2.5M$2.0M$532K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $3.7M$2.5M$1.2M−$121K 990 PDF
FY2020 $2.9M$2.9M$12K−$1.3M 990 PDF

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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 $3,701,165 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $2,913,833$3,685,347
I-10 Investment incomePrior year $1,537$733
I-11 Other revenuePrior year $15,835$15,085
I-12 Total revenuePrior year $2,931,205$3,701,165
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 $431,641$362,169
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,487,929$2,147,425
I-18 Total expensesPrior year $2,919,570$2,509,594
I-19 Revenue less expensesPrior year $11,635$1,191,571
Part VI · Governance 5 of 5 board members independent, 3 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $3,701,165 across 4 lines filed
Lines not itemized here account for $225 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,685,347$3,685,347
VIII-3 Investment incomeExcluded from tax $733$733
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $14,860$14,860
VIII-12 Total revenueRelated to mission $3,685,347 · Unrelated business $0 · Excluded from tax $15,818$3,701,165
Part IX · Statement of functional expenses $2,509,594 across 14 lines filed
IX-7 Other salaries and wagesPrograms $180,456 · Management $59,626$240,082
IX-9 Other employee benefitsPrograms $70,412 · Management $23,266$93,678
IX-10 Payroll taxesPrograms $21,353 · Management $7,056$28,409
IX-11a Management feesManagement $178,006$178,006
IX-11b Legal feesManagement $22,996$22,996
IX-11c Accounting feesManagement $31,571$31,571
IX-11g Other fees for servicesPrograms $70,962 · Management $12,719$83,681
IX-13 Office expensesPrograms $599 · Management $24,279$24,878
IX-14 Information technologyManagement $3,696$3,696
IX-16 OccupancyPrograms $1,064,157 · Management $9,768$1,073,925
IX-19 Conferences, conventions and meetingsPrograms $64$64
IX-22 Depreciation, depletion and amortizationPrograms $273,598$273,598
IX-23 InsurancePrograms $249,836 · Management $455$250,291
IX-24 Other expenses (24a–d)Programs $46,482 · Management $158,237$204,719
IX-25 Total functional expensesPrograms $1,977,919 · Management $531,675 · Fundraising $0$2,509,594
Part X · Balance sheet $12,297,356 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $301,275$1,157,299
X-2 Savings and temporary cash investmentsStart of year $373,744$348,198
X-4 Accounts receivableStart of year $103,960$137,252
X-9 Prepaid expenses and deferred chargesStart of year $110,431$82,507
X-10c Land, buildings and equipment, netStart of year $10,665,378$10,470,440
X-15 Other assetsStart of year $103,073$101,660
X-16 Total assetsStart of year $11,657,861$12,297,356
X-17 Accounts payable and accrued expensesStart of year $449,847$87,866
X-26 Total liabilitiesStart of year $12,970,588$12,418,512
X-27 Net assets without donor restrictionsStart of year −$1,312,727−$121,156
X-32 Total net assets or fund balancesStart of year −$1,312,727−$121,156
X-33 Total liabilities and net assetsStart of year $11,657,861$12,297,356
Part XI · Reconciliation of net assets −$121,156 net assets at year end
XI-1 Total revenue$3,701,165
XI-2 Total expenses$2,509,594
XI-3 Revenue less expenses$1,191,571
XI-4 Net assets at start of year−$1,312,727
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$121,156

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

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