Oconor Homes Incorporated FY2023 filing

Frederick, MD501(c)(3)Since 2005HousingEIN 20-2825758

To provide affordable housing to the chronically mentally disabled under section 811 of the national affordable housing act.

68¢ 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
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
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 4
filings with a surplus
Average deficit $32K a year · 51% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.1M
126% of total assets
Concern: liabilities are 126% of assets; over 80%.
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
$63K
+3% vs prior year
Spent
$97K
To programs
68%
Net assets
−$218K
By yearFY2021–FY2024
Revenue
$63K
FY2023▲ +3%
Revenue by fiscal year
FY2021$62K
FY2022$62K
FY2023$63K
FY2024$67K
FY2024$70K
Expenses
$97K
FY2023▼ -0.8%
Expenses by fiscal year
FY2021$88K
FY2022$98K
FY2023$97K
FY2024$100K
FY2024$124K
Net assets
−$218K
FY2023▼ -19%
Net assets by fiscal year
FY2021−$147K
FY2022−$184K
FY2023−$218K
FY2024−$251K
FY2024−$304K

From the FY2023 Form 990 (year ending June 2023) · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2006.

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

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $67K Management & general 32% · $31K

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

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Oconor Homes Incorporated 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

Offers affordable housing for the chronically mentally disabled.

Provided by the organization

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1 program service account for $67K of program spending, described in the organization's own filed words · FY2022.
01

Providing 13 units of affordable housing to persons with disabilities. The entity receives assistance under provision of section 811 of the national affordable housing act

$67Kprogram expense

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Funders

Who pays for it.

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

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$63K
Ln 12
Gifts and grantsLn 1h$39K
Fees for servicesLn 2g$24K
Investment incomeLn 3$5
Money outPt IX
$97K
Ln 25
Programscol B$67K
Managementcol C$31K
Owns and owesPt X
−$218K
net assets · Ln 32
Cash and savingsLn 1–2$62K
Total assetsLn 16$842K
LiabilitiesLn 26$1.1M
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$39K
Government grantsLn 1e$39K
Fees for servicesLn 2g$24K
Investment incomeLn 3$5
Total revenueLn 12$63K
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$59K
Cash and savings togetherLn 1–2$62K
Land, buildings, equipmentLn 10c$776K
Other assetsLn 15$2K
Total assetsLn 16$842K
LiabilitiesLn 26$1.1M
Net assetsLn 32−$218K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$57K$62K
Land, buildings, equipmentLn 10c$806K$776K
Total assetsLn 16$864K$842K
LiabilitiesLn 26$1.0M$1.1M
Net assetsLn 32−$184K−$218K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$9K$9K
Accounting feesLn 11c$12K$12K
Other fees for servicesLn 11g$23K$23K
Office expensesLn 13$925$925
OccupancyLn 16$13K$13K
Depreciation, depletion and amortizationLn 22$29K$29K
Other expenses (24a–d)Ln 24$10K$1K$8K
Total functional expensesLn 25$97K$67K$31K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $67K$100K−$33K−$251K 990 PDF
FY2023 Viewing $63K$97K−$34K−$218K 990 PDF
FY2022 $62K$98K−$36K−$184K 990 PDF
FY2021 $62K$88K−$26K−$147K 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 $63,231 across 5 lines filed
VIII-1e Government grants$39,483
VIII-1h Total contributions, gifts and grants$39,483
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $23,743$23,743
VIII-3 Investment incomeExcluded from tax $5$5
VIII-12 Total revenueRelated to mission $23,743 · Unrelated business $0 · Excluded from tax $5$63,231
Part IX · Statement of functional expenses $97,310 across 7 lines filed
IX-11a Management feesManagement $9,108$9,108
IX-11c Accounting feesManagement $12,235$12,235
IX-11g Other fees for servicesPrograms $23,013$23,013
IX-13 Office expensesManagement $925$925
IX-16 OccupancyPrograms $13,025$13,025
IX-22 Depreciation, depletion and amortizationPrograms $29,139$29,139
IX-24 Other expenses (24a–d)Programs $1,375 · Management $8,490$9,865
IX-25 Total functional expensesPrograms $66,552 · Management $30,758 · Fundraising $0$97,310
Part X · Balance sheet $841,788 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,532$2,312
X-2 Savings and temporary cash investmentsStart of year $55,305$59,308
X-4 Accounts receivableStart of year $308$1,700
X-10c Land, buildings and equipment, netStart of year $805,573$776,434
X-15 Other assetsStart of year $912$2,034
X-16 Total assetsStart of year $863,630$841,788
X-17 Accounts payable and accrued expensesStart of year $13,035$24,617
X-19 Deferred revenueStart of year $467$0
X-26 Total liabilitiesStart of year $1,047,397$1,059,634
X-27 Net assets without donor restrictionsStart of year −$263,767−$297,846
X-28 Net assets with donor restrictionsStart of year $80,000$80,000
X-32 Total net assets or fund balancesStart of year −$183,767−$217,846
X-33 Total liabilities and net assetsStart of year $863,630$841,788
Part XI · Reconciliation of net assets −$217,846 net assets at year end
XI-1 Total revenue$63,231
XI-2 Total expenses$97,310
XI-3 Revenue less expenses−$34,079
XI-4 Net assets at start of year−$183,767
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$217,846

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

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