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Muscoota INC FY2021 filing

Not tax-deductible

New York, NYMutual-benefit / member-servingEIN 13-3371670Revenue $40K in FY2021

On file with the IRS174 E 104th St, 10029-4916 · New York, NYTax-exempt since Aug 1990

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Housing for low and moderate income individuals.

Mission: Form 990 Part I, line 1

Before you give

FY2021 · 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
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $23K a year · 56% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$5.0M
109% of total assets
Concern: liabilities are 109% of assets; over 80%.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$40K
Spent
$37K
Net assets
−$414K
By yearFY2021–FY2022
Revenue
$40K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$40K
FY2022$43K
Expenses
$37K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$37K
FY2022$223
Net assets
−$414K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021−$414K
FY2022−$371K

From the FY2021 Form 990 (year ending June 2021) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022. IRS ruling in Aug 1990.

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

Who runs it and what they're paid

16 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Brad Beckstorm
Board Chair
$0Pt VII · Sec A
Carlos Diaz
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Gemma Thomas
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Marissa Mack
Director
$0Pt VII · Sec A
Max Markham
Director
$0Pt VII · Sec A
Maya Kurien
Director
$0Pt VII · Sec A
See Muscoota 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

Provides affordable housing for low and moderate-income individuals.

Provided by the organization

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1 program · in their own filed words · FY2020
01

Housing for low and moderate income individuals.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$40K
Ln 12
Investment incomeLn 3$40K
Money outPt IX
$37K
Ln 25
Owns and owesPt X
−$414K
net assets · Ln 32
Cash and savingsLn 1–2$279
Total assetsLn 16$4.6M
LiabilitiesLn 26$5.0M
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$40K
Total revenueLn 12$40K
Assets in detailPt X, end of year
CashLn 1$279
Cash and savings togetherLn 1–2$279
Total assetsLn 16$4.6M
LiabilitiesLn 26$5.0M
Net assetsLn 32−$414K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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$304$279
Total assetsLn 16$4.5M$4.6M
LiabilitiesLn 26$5.0M$5.0M
Net assetsLn 32−$417K−$414K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$4K
InterestLn 20$33K
Other expenses (24a–d)Ln 24$25
Total functional expensesLn 25$37K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $43K$223$43K−$371K 990 PDF
FY2021 Viewing $40K$37K$4K−$414K 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 $40,496 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $38,096$40,496
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $38,096$40,496
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 $31,234$36,691
I-18 Total expensesPrior year $31,234$36,691
I-19 Revenue less expensesPrior year $6,862$3,805
Part VI · Governance 14 of 14 board members independent, 2 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
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-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $40,496 across 2 lines filed
VIII-3 Investment incomeExcluded from tax $40,496$40,496
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $40,496$40,496
Part IX · Statement of functional expenses $36,691 across 3 lines filed
IX-11c Accounting fees$3,640
IX-20 Interest$33,026
IX-24 Other expenses (24a–d)$25
IX-25 Total functional expenses$36,691
Part X · Balance sheet $4,589,747 assets, 8 lines filed
Asset lines not itemized here account for $4,589,468; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $304$279
X-16 Total assetsStart of year $4,549,275$4,589,747
X-17 Accounts payable and accrued expensesStart of year $440,412$444,215
X-19 Deferred revenueStart of year $3,903,631$3,903,631
X-26 Total liabilitiesStart of year $4,966,655$5,003,484
X-27 Net assets without donor restrictionsStart of year −$417,380−$413,737
X-32 Total net assets or fund balancesStart of year −$417,380−$413,737
X-33 Total liabilities and net assetsStart of year $4,549,275$4,589,747
Part XI · Reconciliation of net assets −$413,737 net assets at year end
XI-1 Total revenue$40,496
XI-2 Total expenses$36,691
XI-3 Revenue less expenses$3,805
XI-4 Net assets at start of year−$417,380
XI-8 Prior period adjustments−$162
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$413,737

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

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