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Cedarbrook Village Incorporated

Tax-deductible

New Hartford, NY501(c)(3)HousingEIN 20-0670083Revenue $2.9M in FY2024

On file with the IRSsitrin.com2050 Tilden Ave, 13413-3613 · New Hartford, NYTax-exempt since Sep 2004Publicly supported — 509(a)(2)

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Senior enriched housing and assisted living program.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$97K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
0 of 5
filings with a surplus
Average deficit $102K a year · 4% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$97K
to officers and key staff · 3% of spending
Top officer’s pay lower than 69% of similar orgs
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.3M
36% of total assets
Looks good: liabilities are 36% of assets; 50% or less.
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
$2.9M
+7% vs prior year
Spent
$2.9M
To programs
88%
Net assets
$4.0M
By yearFY2020–FY2024
Revenue
$2.9M
FY2024▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.3M
FY2021$2.3M
FY2022$2.4M
FY2023$2.7M
FY2024$2.9M
Expenses
$2.9M
FY2024▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.4M
FY2021$2.3M
FY2022$2.6M
FY2023$2.8M
FY2024$2.9M
Net assets
$4.0M
FY2024+0.1%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.3M
FY2021$4.3M
FY2022$4.0M
FY2023$4.0M
FY2024$4.0M

From the FY2024 Form 990 · 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 Sep 2004.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $2.5M Management & general 12% · $355K

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

16 people listed on the 990; $97K paid to officers and key staff.

Part VII, Section A · reportable compensation
David Wallace
VP of Assisted Living
$97,423Pt VII · Sec A
Chet Cohen
Director
$0Pt VII · Sec A
David Goldbas
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Smith
Vice Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A

David Wallace’s $97K as VP of Assisted Living is at the 31st percentile of top reported officer pay among 2036 $1–10M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
David Wallace$97,423$99,385$100,789$92,751$95,394

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Provides housing and assisted living services for seniors.

Questions for Cedarbrook Village Incorporated

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Provided by the organization

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1 program · $2.5M · in their own filed words · FY2024
01

Cedarbrook provides various levels of care to individuals 62 years of age and older so that they may live independently with support services available as their needs CHANGE.IN 2024, cedarbrook's total resident days were 19,098 with a total of 75 seniors served.

$2.5Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.9M
Ln 12
Fees for servicesLn 2g$2.7M
Gifts and grantsLn 1h$64K
Investment incomeLn 3$44K
Money outPt IX
$2.9M
Ln 25
Programscol B$2.5M
Managementcol C$355K
Owns and owesPt X
$4.0M
net assets · Ln 32
Cash and savingsLn 1–2$1.7M
Total assetsLn 16$6.2M
LiabilitiesLn 26$2.3M
PeoplePt VI, VII
16
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$64K
Government grantsLn 1e$64K
Fees for servicesLn 2g$2.7M
Investment incomeLn 3$44K
Other incomeLn 4–11$8K
Gains on assetsLn 7$7K
Total revenueLn 12$2.9M
Assets in detailPt X, end of year
CashLn 1$350K
SavingsLn 2$1.4M
Cash and savings togetherLn 1–2$1.7M
Land, buildings, equipmentLn 10c$3.9M
Other assetsLn 15$179K
Total assetsLn 16$6.2M
LiabilitiesLn 26$2.3M
Net assetsLn 32$4.0M
OperationsPt I, VI
EmployeesI 568
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 FY24End FY24
Cash and savingsLn 1–2$1.4M$1.7M
Land, buildings, equipmentLn 10c$4.2M$3.9M
Total assetsLn 16$6.1M$6.2M
LiabilitiesLn 26$2.1M$2.3M
Net assetsLn 32$4.0M$4.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$134K$134K
Other salaries and wagesLn 7$1.2M$1.2M
Pension plan contributionsLn 8$12K$11K$1K
Other employee benefitsLn 9$119K$107K$12K
Payroll taxesLn 10$97K$86K$10K
Management feesLn 11a$225K$101K$124K
Accounting feesLn 11c$13K$13K
Investment management feesLn 11f$7K$7K
Other fees for servicesLn 11g$93K$93K$430
Advertising and promotionLn 12$597$597
Office expensesLn 13$15K$15K
Information technologyLn 14$22K$22K
OccupancyLn 16$147K$146K$1K
TravelLn 17$6K$6K
Conferences, conventions and meetingsLn 19$8K$8K
InterestLn 20$74K$74K$635
Depreciation, depletion and amortizationLn 22$522K$518K$4K
Other expenses (24a–d)Ln 24$215K$215K
All other expensesLn 24e$3K$606$2K
Total functional expensesLn 25$2.9M$2.5M$355K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $2.9M$2.9M−$38K$4.0M 990 PDF
FY2023 $2.7M$2.8M−$102K$4.0M 990 PDF
FY2022 $2.4M$2.6M−$235K$4.0M 990 PDF
FY2021 $2.3M$2.3M−$12K$4.3M 990 PDF
FY2020 $2.3M$2.4M−$120K$4.3M 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 $2,853,493 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $24,873$63,894
I-9 Program service revenuePrior year $2,583,683$2,738,372
I-10 Investment incomePrior year $60,589$43,623
I-11 Other revenuePrior year $6,981$7,604
I-12 Total revenuePrior year $2,676,126$2,853,493
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 $1,499,656$1,542,151
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,278,891$1,349,808
I-18 Total expensesPrior year $2,778,547$2,891,959
I-19 Revenue less expensesPrior year −$102,421−$38,466
Part VI · Governance 14 of 14 board members independent, no flags
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
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 $2,853,493 across 7 lines filed
Lines not itemized here account for $601 of total revenue; see the IRS return.
VIII-1e Government grants$63,894
VIII-1h Total contributions, gifts and grants$63,894
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,738,372$2,738,372
VIII-3 Investment incomeExcluded from tax $36,362$36,362
VIII-7 Net gain or loss on sales of assetsExcluded from tax $7,261$7,261
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $7,003$7,003
VIII-12 Total revenueRelated to mission $2,745,976 · Unrelated business $0 · Excluded from tax $43,623$2,853,493
Part IX · Statement of functional expenses $2,891,959 across 19 lines filed
IX-5 Pay of current officers, directors and key staffManagement $134,238$134,238
IX-7 Other salaries and wagesPrograms $1,180,366$1,180,366
IX-8 Pension plan contributionsPrograms $11,113 · Management $1,264$12,377
IX-9 Other employee benefitsPrograms $106,990 · Management $11,616$118,606
IX-10 Payroll taxesPrograms $86,260 · Management $10,304$96,564
IX-11a Management feesPrograms $101,250 · Management $123,750$225,000
IX-11c Accounting feesManagement $12,512$12,512
IX-11f Investment management feesManagement $7,207$7,207
IX-11g Other fees for servicesPrograms $92,967 · Management $430$93,397
IX-12 Advertising and promotionManagement $597$597
IX-13 Office expensesManagement $14,863$14,863
IX-14 Information technologyManagement $21,686$21,686
IX-16 OccupancyPrograms $146,347 · Management $1,092$147,439
IX-17 TravelPrograms $5,708$5,708
IX-19 Conferences, conventions and meetingsManagement $8,180$8,180
IX-20 InterestPrograms $73,632 · Management $635$74,267
IX-22 Depreciation, depletion and amortizationPrograms $517,500 · Management $4,200$521,700
IX-24 Other expenses (24a–d)Programs $214,681$214,681
IX-24e All other expensesPrograms $606 · Management $1,965$2,571
IX-25 Total functional expensesPrograms $2,537,420 · Management $354,539 · Fundraising $0$2,891,959
Part X · Balance sheet $6,224,953 assets, 16 lines filed
Asset lines not itemized here account for $325,520; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $129,029$349,524
X-2 Savings and temporary cash investmentsStart of year $1,281,084$1,385,283
X-4 Accounts receivableStart of year $42,409$76,185
X-8 Inventories for sale or useStart of year $9,567$10,025
X-9 Prepaid expenses and deferred chargesStart of year $13,846$19,926
X-10c Land, buildings and equipment, netStart of year $4,248,639$3,879,897
X-15 Other assetsStart of year $130,908$178,593
X-16 Total assetsStart of year $6,054,513$6,224,953
X-17 Accounts payable and accrued expensesStart of year $111,299$162,161
X-19 Deferred revenue$179,790
X-20 Tax-exempt bond liabilitiesStart of year $1,861,481$1,748,046
X-25 Other liabilitiesStart of year $130,688$178,593
X-26 Total liabilitiesStart of year $2,103,468$2,268,590
X-27 Net assets without donor restrictionsStart of year $3,951,045$3,956,363
X-32 Total net assets or fund balancesStart of year $3,951,045$3,956,363
X-33 Total liabilities and net assetsStart of year $6,054,513$6,224,953
Part XI · Reconciliation of net assets $3,956,363 net assets at year end
XI-1 Total revenue$2,853,493
XI-2 Total expenses$2,891,959
XI-3 Revenue less expenses−$38,466
XI-4 Net assets at start of year$3,951,045
XI-5 Net unrealized gains (losses) on investments$43,784
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,956,363

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

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