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1490 Estates Housing Development Fund FY2022 filing

Buffalo, NYUnknown exempt organization EIN 16-1498651Revenue $406K in FY2022

On file with the IRS215 Broadway · Buffalo, NY

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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

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FY2022 · 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
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$149K
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
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
$406K
+4% vs prior year
Spent
$739K
To programs
92%
Net assets
$1.2M
By yearFY2020–FY2023
Revenue
$406K
FY2022▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$388K
FY2021$389K
FY2022$406K
FY2023$932K
Expenses
$739K
FY2022▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$538K
FY2021$595K
FY2022$739K
FY2023$564K
Net assets
$1.2M
FY2022▼ -21%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.8M
FY2021$1.6M
FY2022$1.2M
FY2023$0

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2023) →

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% · $682K Management & general 8% · $57K

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

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.

Questions for 1490 Estates Housing Development Fund

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Provided by the organization

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1 program · $682K · in their own filed words · FY2022
01

The company operates a hud regulated housing project fro lowe income elderly persons

$682Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$406K
Ln 12
Fees for servicesLn 2g$387K
Other incomeLn 4–11$17K
Gifts and grantsLn 1h$1K
Money outPt IX
$739K
Ln 25
Programscol B$682K
Managementcol C$57K
Owns and owesPt X
$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$78K
Total assetsLn 16$1.4M
LiabilitiesLn 26$149K
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$1K
Government grantsLn 1e$1K
Fees for servicesLn 2g$387K
Investment incomeLn 3$243
Other incomeLn 4–11$17K
Total revenueLn 12$406K
Assets in detailPt X, end of year
CashLn 1$78K
Cash and savings togetherLn 1–2$78K
Land, buildings, equipmentLn 10c$999K
Other assetsLn 15$295K
Total assetsLn 16$1.4M
LiabilitiesLn 26$149K
Net assetsLn 32$1.2M
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 FY22End FY22
Cash and savingsLn 1–2$3K$78K
Land, buildings, equipmentLn 10c$1.2M$999K
Total assetsLn 16$1.7M$1.4M
LiabilitiesLn 26$87K$149K
Net assetsLn 32$1.6M$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$114K$114K
Other employee benefitsLn 9$5K$5K
Payroll taxesLn 10$15K$15K
Management feesLn 11a$45K$45K
Legal feesLn 11b$6K$6K
Accounting feesLn 11c$13K$13K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$19K$19K
OccupancyLn 16$62K$62K
Depreciation, depletion and amortizationLn 22$157K$157K
InsuranceLn 23$32K$32K
Other expenses (24a–d)Ln 24$241K$241K
All other expensesLn 24e$27K$27K
Total functional expensesLn 25$739K$682K$57K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $932K$564K$368K$0 990 PDF
FY2022 Viewing $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 R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $405,830 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$1,499
I-9 Program service revenuePrior year $386,193$386,812
I-10 Investment incomePrior year $188$243
I-11 Other revenuePrior year $2,533$17,276
I-12 Total revenuePrior year $388,914$405,830
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 $135,748$132,955
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $458,819$606,508
I-18 Total expensesPrior year $594,567$739,463
I-19 Revenue less expensesPrior year −$205,653−$333,633
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsYes
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 $405,830 across 6 lines filed
VIII-1e Government grants$1,499
VIII-1h Total contributions, gifts and grants$1,499
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $386,812$386,812
VIII-3 Investment incomeExcluded from tax $243$243
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $14,119 · Excluded from tax $3,157$17,276
VIII-12 Total revenueRelated to mission $400,931 · Unrelated business $0 · Excluded from tax $3,400$405,830
Part IX · Statement of functional expenses $739,463 across 13 lines filed
IX-7 Other salaries and wagesPrograms $113,622$113,622
IX-9 Other employee benefitsPrograms $4,773$4,773
IX-10 Payroll taxesPrograms $14,560$14,560
IX-11a Management feesManagement $44,726$44,726
IX-11b Legal feesPrograms $5,785$5,785
IX-11c Accounting feesManagement $12,589$12,589
IX-12 Advertising and promotionPrograms $4,634$4,634
IX-13 Office expensesPrograms $19,268$19,268
IX-16 OccupancyPrograms $62,157$62,157
IX-22 Depreciation, depletion and amortizationPrograms $156,907$156,907
IX-23 InsurancePrograms $31,888$31,888
IX-24 Other expenses (24a–d)Programs $241,291$241,291
IX-24e All other expensesPrograms $27,263$27,263
IX-25 Total functional expensesPrograms $682,148 · Management $57,315 · Fundraising $0$739,463
Part X · Balance sheet $1,388,346 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $2,628$77,867
X-4 Accounts receivableStart of year $8,201$4,886
X-9 Prepaid expenses and deferred chargesStart of year $19,579$11,803
X-10c Land, buildings and equipment, netStart of year $1,155,546$998,639
X-15 Other assetsStart of year $473,876$295,151
X-16 Total assetsStart of year $1,659,830$1,388,346
X-17 Accounts payable and accrued expensesStart of year $70,272$130,462
X-19 Deferred revenue$4,290
X-25 Other liabilitiesStart of year $16,268$13,937
X-26 Total liabilitiesStart of year $86,540$148,689
X-27 Net assets without donor restrictionsStart of year $1,573,290$1,239,657
X-32 Total net assets or fund balancesStart of year $1,573,290$1,239,657
X-33 Total liabilities and net assetsStart of year $1,659,830$1,388,346
Part XI · Reconciliation of net assets $1,239,657 net assets at year end
XI-1 Total revenue$405,830
XI-2 Total expenses$739,463
XI-3 Revenue less expenses−$333,633
XI-4 Net assets at start of year$1,573,290
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,239,657

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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