1490 Estates Housing Development Fund

Buffalo, NYUnknown exempt organizationEIN 16-1498651

Provide housing for low income elderly persons.

92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $80K a year · 15% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$932K
+130% vs prior year
Spent
$564K
To programs
92%
Net assets
$0
By yearFY2020–FY2023
Revenue
$932K
FY2023▲ +130%
Revenue by fiscal year
FY2020$388K
FY2021$389K
FY2022$406K
FY2023$932K
Expenses
$564K
FY2023▼ -24%
Expenses by fiscal year
FY2020$538K
FY2021$595K
FY2022$739K
FY2023$564K
Net assets
$0
FY2023▼ -100%
Net assets by fiscal year
FY2020$1.8M
FY2021$1.6M
FY2022$1.2M
FY2023$0

From the FY2023 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $518K Management & general 8% · $46K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See 1490 Estates Housing Development Fund 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers housing for low-income seniors.

Provided by the organization

This section is blank until 1490 Estates Housing Development Fund claims this page.

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1 program service account for $518K of program spending, described in the organization's own filed words · FY2023.
01

The company operates a housing project for lower income elderly persons

$518Kprogram expense

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By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$932K
Ln 12
Fees for servicesLn 2g$566K
Investment incomeLn 3$355K
Gifts and grantsLn 1h$8K
Money outPt IX
$564K
Ln 25
Programscol B$518K
Managementcol C$46K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$8K
Government grantsLn 1e$8K
Fees for servicesLn 2g$566K
Investment incomeLn 3$355K
Other incomeLn 4–11$3K
Gains on assetsLn 7$355K
Total revenueLn 12$932K
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
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 FY23End FY23
Cash and savingsLn 1–2$78K$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$999K$0
Total assetsLn 16$1.4M$0
LiabilitiesLn 26$149K$0
Net assetsLn 32$1.2M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$91K$91K
Other employee benefitsLn 9$4K$4K
Payroll taxesLn 10$8K$8K
Management feesLn 11a$27K$27K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$18K$18K
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$13K$13K
Information technologyLn 14$3K$3K
OccupancyLn 16$33K$33K
TravelLn 17$7K$7K
Conferences, conventions and meetingsLn 19$5K$5K
Depreciation, depletion and amortizationLn 22$105K$105K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$220K$220K
All other expensesLn 24e$8K$8K$372
Total functional expensesLn 25$564K$518K$46K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $932K$564K$368K$0 990 PDF
FY2022 $406K$739K−$334K$1.2M 990 PDF
FY2021 $389K$595K−$206K$1.6M 990 PDF
FY2020 $388K$538K−$150K$1.8M 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $931,822 across 7 lines filed
VIII-1e Government grants$7,925
VIII-1h Total contributions, gifts and grants$7,925
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $566,266$566,266
VIII-3 Investment incomeExcluded from tax $387$387
VIII-7 Net gain or loss on sales of assetsExcluded from tax $354,679$354,679
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $418 · Excluded from tax $2,147$2,565
VIII-12 Total revenueRelated to mission $566,684 · Unrelated business $0 · Excluded from tax $357,213$931,822
Part IX · Statement of functional expenses $563,540 across 17 lines filed
IX-7 Other salaries and wagesPrograms $91,272$91,272
IX-9 Other employee benefitsPrograms $3,603$3,603
IX-10 Payroll taxesPrograms $8,089$8,089
IX-11a Management feesManagement $27,360$27,360
IX-11b Legal feesPrograms $1,105$1,105
IX-11c Accounting feesManagement $18,277$18,277
IX-11g Other fees for servicesPrograms $2,180$2,180
IX-12 Advertising and promotionPrograms $5,957$5,957
IX-13 Office expensesPrograms $12,988$12,988
IX-14 Information technologyPrograms $3,003$3,003
IX-16 OccupancyPrograms $33,260$33,260
IX-17 TravelPrograms $6,647$6,647
IX-19 Conferences, conventions and meetingsPrograms $5,176$5,176
IX-22 Depreciation, depletion and amortizationPrograms $104,622$104,622
IX-23 InsurancePrograms $11,512$11,512
IX-24 Other expenses (24a–d)Programs $220,229$220,229
IX-24e All other expensesPrograms $7,888 · Management $372$8,260
IX-25 Total functional expensesPrograms $517,531 · Management $46,009 · Fundraising $0$563,540
Part X · Balance sheet $0 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $77,867$0
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $4,886$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $11,803$0
X-10c Land, buildings and equipment, netStart of year $998,639$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $295,151$0
X-16 Total assetsStart of year $1,388,346$0
X-17 Accounts payable and accrued expensesStart of year $130,462$0
X-25 Other liabilitiesStart of year $13,937$0
X-26 Total liabilitiesStart of year $148,689$0
X-27 Net assets without donor restrictionsStart of year $1,239,657$0
X-32 Total net assets or fund balancesStart of year $1,239,657$0
X-33 Total liabilities and net assetsStart of year $1,388,346$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$931,822
XI-2 Total expenses$563,540
XI-3 Revenue less expenses$368,282
XI-4 Net assets at start of year$1,239,657
XI-9 Other changes in net assets−$1,607,939
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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