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Galvan Housing Resources INC

Tax-deductible

Hudson, NY501(c)(3)Community DevelopmentEIN 14-1664264Revenue $819K in FY2024

On file with the IRShousingresources.org64 Green St, 12534-2328 · Hudson, NYTax-exempt since Mar 1987Publicly supported charity — 170(b)(1)(A)(vi)

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To improve Housing conditions and increase Housing choices throughout columbia county.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
4 of 5
filings with a surplus
Average surplus $54K a year · 10% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.4M
72% of total assets
Worth a look: liabilities are 72% of assets; over 65%.
Pt X · Ln 26
Independent board members
3
of 5 voting members
Looks good: 3 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
$819K
+20% vs prior year
Spent
$774K
To programs
97%
Net assets
$942K
By yearFY2020–FY2024
Revenue
$819K
FY2024▲ +20%
Tap a bar for its year
Revenue by fiscal year
FY2020$506K
FY2021$424K
FY2022$405K
FY2023$683K
FY2024$819K
Expenses
$774K
FY2024▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$343K
FY2021$383K
FY2022$327K
FY2023$737K
FY2024$774K
Net assets
$942K
FY2024▼ -45%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.5M
FY2021$2.0M
FY2022$2.1M
FY2023$1.7M
FY2024$942K

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1987.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $751K Management & general 3% · $24K

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 (FY2023); the FY2024 filing did not itemize Part VII
Daniel Kent
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Rafal Markwat
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Galvan Housing Resources 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 15aYes

Programs and updates

Improves housing conditions and increases housing choices across Columbia County.

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Provided by the organization

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1 program · $751K · in their own filed words · FY2023
01

Housing resources of columbia county, inc. Has as its stated objectives the following: 1) reduce the incidence of substandard housing: 2) improve the opportunity for owner occupies housing: 3) develop a long-range planfor addressing community housing needs: 4) increase the inventory of resources available to address the community's…

$751Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$819K
Ln 12
Fees for servicesLn 2g$567K
Gifts and grantsLn 1h$246K
Investment incomeLn 3$6K
Money outPt IX
$774K
Ln 25
Programscol B$751K
Managementcol C$24K
Owns and owesPt X
$942K
net assets · Ln 32
Cash and savingsLn 1–2$142K
Total assetsLn 16$3.3M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$246K
Government grantsLn 1e$246K
Fees for servicesLn 2g$567K
Investment incomeLn 3$6K
Total revenueLn 12$819K
Assets in detailPt X, end of year
CashLn 1$142K
Cash and savings togetherLn 1–2$142K
Land, buildings, equipmentLn 10c$2.5M
Other assetsLn 15$577K
Total assetsLn 16$3.3M
LiabilitiesLn 26$2.4M
Net assetsLn 32$942K
OperationsPt I, VI
EmployeesI 54
Fiscal year endsHeaderJune
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$109K$142K
Land, buildings, equipmentLn 10c$2.7M$2.5M
Total assetsLn 16$4.3M$3.3M
LiabilitiesLn 26$2.6M$2.4M
Net assetsLn 32$1.7M$942K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$80K$72K$8K
Management feesLn 11a$5K$5K
Other fees for servicesLn 11g$117K$105K$12K
Office expensesLn 13$22K$20K$2K
OccupancyLn 16$146K$146K
TravelLn 17$1K$1K$112
InterestLn 20$34K$34K$591
Depreciation, depletion and amortizationLn 22$152K$152K
InsuranceLn 23$8K$7K$771
Other expenses (24a–d)Ln 24$138K$138K
All other expensesLn 24e$72K$72K$219
Total functional expensesLn 25$774K$751K$24K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $819K$774K$45K$942K 990 PDF
FY2023 $683K$737K−$54K$1.7M 990 PDF
FY2022 $405K$327K$79K$2.1M 990 PDF
FY2021 $424K$383K$41K$2.0M 990 PDF
FY2020 $506K$343K$162K$1.5M 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 FY2024 990 (6 parts)
Part I · Summary $818,828 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $199,555$245,677
I-9 Program service revenuePrior year $460,658$567,172
I-10 Investment incomePrior year $15,700$5,979
I-11 Other revenuePrior year $6,953$0
I-12 Total revenuePrior year $682,866$818,828
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $135,649$80,225
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $601,715$694,059
I-18 Total expensesPrior year $737,364$774,284
I-19 Revenue less expensesPrior year −$54,498$44,544
Part VI · Governance 3 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members3
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 $818,828 across 5 lines filed
VIII-1e Government grants$245,677
VIII-1h Total contributions, gifts and grants$245,677
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $567,172$567,172
VIII-3 Investment incomeExcluded from tax $5,979$5,979
VIII-12 Total revenueRelated to mission $567,172 · Excluded from tax $5,979$818,828
Part IX · Statement of functional expenses $774,284 across 11 lines filed
IX-7 Other salaries and wagesPrograms $72,202 · Management $8,023$80,225
IX-11a Management feesPrograms $4,700$4,700
IX-11g Other fees for servicesPrograms $105,217 · Management $11,691$116,908
IX-13 Office expensesPrograms $19,813 · Management $2,202$22,015
IX-16 OccupancyPrograms $145,589$145,589
IX-17 TravelPrograms $1,009 · Management $112$1,121
IX-20 InterestPrograms $33,658 · Management $591$34,249
IX-22 Depreciation, depletion and amortizationPrograms $151,759$151,759
IX-23 InsurancePrograms $6,941 · Management $771$7,712
IX-24 Other expenses (24a–d)Programs $137,766$137,766
IX-24e All other expensesPrograms $72,021 · Management $219$72,240
IX-25 Total functional expensesPrograms $750,675 · Management $23,609 · Fundraising $0$774,284
Part X · Balance sheet $3,336,939 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $109,393$142,116
X-3 Pledges and grants receivableStart of year $42,204$10,000
X-4 Accounts receivableStart of year $16,774$68,352
X-9 Prepaid expenses and deferred chargesStart of year $5,294$9,580
X-10c Land, buildings and equipment, netStart of year $2,681,579$2,529,819
X-15 Other assetsStart of year $1,472,987$577,072
X-16 Total assetsStart of year $4,328,231$3,336,939
X-17 Accounts payable and accrued expensesStart of year $197,389$108,696
X-25 Other liabilitiesStart of year $149,182$144,465
X-26 Total liabilitiesStart of year $2,624,665$2,395,060
X-27 Net assets without donor restrictionsStart of year $1,703,566$941,879
X-32 Total net assets or fund balancesStart of year $1,703,566$941,879
X-33 Total liabilities and net assetsStart of year $4,328,231$3,336,939
Part XI · Reconciliation of net assets $941,879 net assets at year end
XI-1 Total revenue$818,828
XI-2 Total expenses$774,284
XI-3 Revenue less expenses$44,544
XI-4 Net assets at start of year$1,703,566
XI-8 Prior period adjustments$130,000
XI-9 Other changes in net assets−$936,231
XI-10 Net assets at end of year$941,879

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

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