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Skylight Properties INC FY2021 filing

Not tax-deductible

Staten Island, NYMutual-benefit / member-serving EIN 13-3870857Revenue $80K in FY2021

On file with the IRS307 Saint Marks Pl, 10301-1805 · Staten Island, NYTax-exempt since Dec 1996

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Sky light Properties INC was incorporated in the state of new york to manage Properties IT rents to an affiliated exempt organization, sky light center, INC.

89¢ 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
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
2 of 5
filings with a surplus
Average deficit $92K a year · 112% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Plus $205K in investments, Pt X · Ln 11–13
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$462
0.07% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$80K
-21% vs prior year
Spent
$173K
To programs
89%
Net assets
$686K
By yearFY2020–FY2024
Revenue
$80K
FY2021▼ -21%
Tap a bar for its year
Revenue by fiscal year
FY2020$102K
FY2021$80K
FY2022$75K
FY2023$105K
FY2024$51K
Expenses
$173K
FY2021▼ -53%
Tap a bar for its year
Expenses by fiscal year
FY2020$365K
FY2021$173K
FY2022$296K
FY2023$20K
FY2024$19K
Net assets
$686K
FY2021▼ -10%
Tap a bar for its year
Net assets by fiscal year
FY2020$760K
FY2021$686K
FY2022$432K
FY2023$522K
FY2024$555K

From the FY2021 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1996.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $155K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Skylight Properties 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

Manages rental properties for an affiliated exempt organization.

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Provided by the organization

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3 programs · $155K · in their own filed words · FY2021
01

Payments made to affiliated organization, sky light center inc.

$155Kprogram expense
02

Revenue and expenses related to the rental and maintenance of the property located at 305/307 ST marks place, staten island ny.

Pt IX · col B
03

Investment income on funds held in RESERVE.REALIZED gain on funds held in reserve.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$80K
Ln 12
Other incomeLn 4–11$73K
Investment incomeLn 3$7K
Money outPt IX
$173K
Ln 25
Programscol B$155K
Owns and owesPt X
$686K
net assets · Ln 32
Cash and savingsLn 1–2$79K
Total assetsLn 16$686K
LiabilitiesLn 26$462
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$7K
Other incomeLn 4–11$73K
Total revenueLn 12$80K
Assets in detailPt X, end of year
CashLn 1$79K
Cash and savings togetherLn 1–2$79K
InvestmentsLn 11–13$205K
Land, buildings, equipmentLn 10c$403K
Total assetsLn 16$686K
LiabilitiesLn 26$462
Net assetsLn 32$686K
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 FY21End FY21
Cash and savingsLn 1–2$28K$79K
InvestmentsLn 11–13$310K$205K
Land, buildings, equipmentLn 10c$422K$403K
Total assetsLn 16$760K$686K
LiabilitiesLn 26$0$462
Net assetsLn 32$760K$686K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Payments to affiliatesLn 21$130K$130K
Depreciation, depletion and amortizationLn 22$19K
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$11K$11K
Total functional expensesLn 25$173K$155K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $51K$19K$33K$555K 990 PDF
FY2023 $105K$20K$85K$522K 990 PDF
FY2022 $75K$296K−$221K$432K 990 PDF
FY2021 Viewing $80K$173K−$93K$686K 990 PDF
FY2020 $102K$365K−$264K$760K 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 FY2021 990 (6 parts)
Part I · Summary $80,034 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 $7,035$7,117
I-11 Other revenuePrior year $94,792$72,917
I-12 Total revenuePrior year $101,827$80,034
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 $365,372$173,330
I-18 Total expensesPrior year $365,372$173,330
I-19 Revenue less expensesPrior year −$263,545−$93,296
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
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 $80,034 across 3 lines filed
VIII-3 Investment incomeRelated to mission $7,117$7,117
VIII-6 Net rental income or lossRelated to mission $72,917$72,917
VIII-12 Total revenueRelated to mission $80,034 · Unrelated business $0 · Excluded from tax $0$80,034
Part IX · Statement of functional expenses $173,330 across 4 lines filed
IX-21 Payments to affiliatesPrograms $130,000$130,000
IX-22 Depreciation, depletion and amortization$18,662
IX-23 InsurancePrograms $14,116$14,116
IX-24 Other expenses (24a–d)Programs $10,552$10,552
IX-25 Total functional expensesPrograms $154,668 · Management $0 · Fundraising $0$173,330
Part X · Balance sheet $686,498 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $27,846$78,868
X-10c Land, buildings and equipment, netStart of year $421,520$402,858
X-11 Publicly traded securitiesStart of year $310,324$204,772
X-16 Total assetsStart of year $759,690$686,498
X-17 Accounts payable and accrued expenses$462
X-26 Total liabilitiesStart of year $0$462
X-27 Net assets without donor restrictionsStart of year $759,690$686,036
X-32 Total net assets or fund balancesStart of year $759,690$686,036
X-33 Total liabilities and net assetsStart of year $759,690$686,498
Part XI · Reconciliation of net assets $686,036 net assets at year end
XI-1 Total revenue$80,034
XI-2 Total expenses$173,330
XI-3 Revenue less expenses−$93,296
XI-4 Net assets at start of year$759,690
XI-5 Net unrealized gains (losses) on investments$19,642
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$686,036

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

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