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Leelanau Reach FY2020 filing

Traverse City, MIUnknown exempt organizationEIN 20-1190609

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The corporation is organized exclusively for charitable, educational, and scientific purposes, including to plan and develop decent affordable homeownership and rental housing opportunities for low and moderate income families by such methods deemed appropriate by the board of directors. This includes but is not limited to the receiving, collecting and disbursing the monies from grants, contributions, gifts, bequests, and legacies for the purpose of planning, developing, sponsoring, owning, operating and managing housing facilities, and to construct, buy, sell, lease, hold, improve, and otherwise deal in real and personal property incidental to such purposes, and perform all other lawful actions consistent with the other purposes of the corporation.

Mission: Form 990 Part I, line 1

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
528 mo
of spending, in cash
Looks good: 527.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $500
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2K
Spent
$571
To programs
0%
Net assets
$25K
By yearFY2020–FY2022
Revenue
$2K
FY2020
Revenue by fiscal year
FY2020$2K
FY2021$345
FY2022Not on file
Net assets
$25K
FY2020
Net assets by fiscal year
FY2020$25K
FY2021$20K
FY2022Not on file

From the FY2020 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Exemption reinstated (2011-05-15). Per the IRS revocation list. Latest filing on record: FY2022.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $571

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Bill Collins
Vice Chair
$0Pt VII · Sec A
Emily Kelly
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Chris Frey
Director
$0Pt VII · Sec A
Bob Hawley
Director
$0Pt VII · Sec A
Kathy Koch
Director
$0Pt VII · Sec A
See Leelanau Reach 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

Develops and provides affordable housing opportunities for low and moderate-income families.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2020.
01

Constructing decent affordable homeownership and rental housing opportunities for low and moderate income families.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2019
Michael Chetcuti FoundationFY2019$500
Total grants receivedfrom 1 funder$500

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2K
Ln 12
Gifts and grantsLn 1h$6K
Investment incomeLn 3$1
Money outPt IX
$571
Ln 25
Managementcol C$571
Owns and owesPt X
$25K
net assets · Ln 32
Cash and savingsLn 1–2$25K
Total assetsLn 16$25K
LiabilitiesLn 26$0
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$6K
Investment incomeLn 3$1
Gains on assetsLn 7−$4K
Total revenueLn 12$2K
Assets in detailPt X, end of year
CashLn 1$25K
Cash and savings togetherLn 1–2$25K
Total assetsLn 16$25K
LiabilitiesLn 26$0
Net assetsLn 32$25K
OperationsPt I, VI
EmployeesI 50
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 FY20End FY20
Cash and savingsLn 1–2$12K$25K
Total assetsLn 16$407K$25K
LiabilitiesLn 26$383K$0
Net assetsLn 32$24K$25K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Office expensesLn 13$420$420
Other expenses (24a–d)Ln 24$151$151
Total functional expensesLn 25$571$0$571$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest 990 PDF
FY2021 $345$20K 990 PDF
FY2020 Viewing $2K$571$1K$25K 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 FY2020 990 (4 parts)
Part VIII · Statement of revenue $1,930 across 5 lines filed
VIII-1f All other contributions, gifts and grants$6,378
VIII-1h Total contributions, gifts and grants$6,378
VIII-3 Investment incomeRelated to mission $1$1
VIII-7 Net gain or loss on sales of assetsRelated to mission −$4,449−$4,449
VIII-12 Total revenueRelated to mission −$4,448$1,930
Part IX · Statement of functional expenses $571 across 2 lines filed
IX-13 Office expensesManagement $420$420
IX-24 Other expenses (24a–d)Management $151$151
IX-25 Total functional expensesPrograms $0 · Management $571 · Fundraising $0$571
Part X · Balance sheet $25,116 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $11,889$25,116
X-16 Total assetsStart of year $407,014$25,116
X-26 Total liabilitiesStart of year $383,257$0
X-27 Net assets without donor restrictionsStart of year $23,757$25,116
X-32 Total net assets or fund balancesStart of year $23,757$25,116
X-33 Total liabilities and net assetsStart of year $407,014$25,116
Part XI · Reconciliation of net assets $25,116 net assets at year end
XI-1 Total revenue$1,930
XI-2 Total expenses$571
XI-3 Revenue less expenses$1,359
XI-4 Net assets at start of year$23,757
XI-10 Net assets at end of year$25,116

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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