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Hci Properties Nfp FY2021 filing

Elgin, ILUnknown exempt organizationEIN 20-3498601Revenue $225K in FY2021

On file with the IRS100 S Hawthorne St · Elgin, IL

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Hold title to affordable rental Properties for the benefit of housing continuum, INC.

Mission: Form 990 Part I, line 1

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $56K a year · 22% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
6 mo
of spending, in cash
Looks good: 6.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.9M
132% of total assets
Concern: liabilities are 132% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 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
$225K
Spent
$273K
Net assets
−$692K
By yearFY2021–FY2025
Revenue
$225K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$225K
FY2022$229K
FY2023$243K
FY2024$258K
FY2025$302K
Expenses
$273K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$273K
FY2022$291K
FY2023$299K
FY2024$340K
FY2025$332K
Net assets
−$692K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021−$692K
FY2022−$753K
FY2023−$809K
FY2024−$891K
FY2025−$922K

From the FY2021 Form 990 (year ending June 2021) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Jeff Volkman
President
$0Pt VII · Sec A
Doug Rio
Vice President
$0Pt VII · Sec A
David Shepard
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Lowell Tosch
Executive Director
$0Pt VII · Sec A
See Hci Properties Nfp 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

Owns affordable rental properties to support Housing Continuum, Inc.

Questions for Hci Properties Nfp

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Hci properties, NFP (hci properties) holds title to properties funded by the illinois housing trust fund. The purpose of hci properties is the acquisition, ownership, and leasing of residential homes to be rented to income eligible families through the scattered site rental program.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$225K
Ln 12
Fees for servicesLn 2g$224K
Other incomeLn 4–11$665
Investment incomeLn 3$45
Money outPt IX
$273K
Ln 25
Owns and owesPt X
−$692K
net assets · Ln 32
Cash and savingsLn 1–2$143K
Total assetsLn 16$2.2M
LiabilitiesLn 26$2.9M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$224K
Investment incomeLn 3$45
Other incomeLn 4–11$665
Total revenueLn 12$225K
Assets in detailPt X, end of year
CashLn 1$143K
Cash and savings togetherLn 1–2$143K
Land, buildings, equipmentLn 10c$1.8M
Other assetsLn 15$253K
Total assetsLn 16$2.2M
LiabilitiesLn 26$2.9M
Net assetsLn 32−$692K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$70K$143K
Land, buildings, equipmentLn 10c$1.9M$1.8M
Total assetsLn 16$2.2M$2.2M
LiabilitiesLn 26$2.9M$2.9M
Net assetsLn 32−$644K−$692K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$16K
Accounting feesLn 11c$2K
Other fees for servicesLn 11g$52
InterestLn 20$8K
Depreciation, depletion and amortizationLn 22$110K
InsuranceLn 23$21K
Other expenses (24a–d)Ln 24$117K
Total functional expensesLn 25$273K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $302K$332K−$31K−$922K 990 PDF
FY2024 $258K$340K−$82K−$891K 990 PDF
FY2023 $243K$299K−$56K−$809K 990 PDF
FY2022 $229K$291K−$62K−$753K 990 PDF
FY2021 Viewing $225K$273K−$48K−$692K 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 FY2021 990 (6 parts)
Part I · Summary $225,182 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $219,844$224,472
I-10 Investment incomePrior year $2,499$45
I-11 Other revenuePrior year $2,595$665
I-12 Total revenuePrior year $224,938$225,182
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $266,638$273,212
I-18 Total expensesPrior year $266,638$273,212
I-19 Revenue less expensesPrior year −$41,700−$48,030
Part VI · Governance 4 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $225,182 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $224,472$224,472
VIII-3 Investment incomeExcluded from tax $45$45
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $665$665
VIII-12 Total revenueRelated to mission $225,137 · Unrelated business $0 · Excluded from tax $45$225,182
Part IX · Statement of functional expenses $273,212 across 7 lines filed
IX-11a Management fees$15,713
IX-11c Accounting fees$2,450
IX-11g Other fees for services$52
IX-20 Interest$7,513
IX-22 Depreciation, depletion and amortization$109,605
IX-23 Insurance$20,946
IX-24 Other expenses (24a–d)$116,933
IX-25 Total functional expenses$273,212
Part X · Balance sheet $2,171,496 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $70,120$143,114
X-4 Accounts receivable$2,421
X-9 Prepaid expenses and deferred chargesStart of year $6,752$7,071
X-10c Land, buildings and equipment, netStart of year $1,862,715$1,765,888
X-15 Other assetsStart of year $246,250$253,002
X-16 Total assetsStart of year $2,238,120$2,171,496
X-17 Accounts payable and accrued expensesStart of year $92,139$93,476
X-25 Other liabilitiesStart of year $16,365$20,547
X-26 Total liabilitiesStart of year $2,881,783$2,863,189
X-27 Net assets without donor restrictionsStart of year −$643,663−$691,693
X-32 Total net assets or fund balancesStart of year −$643,663−$691,693
X-33 Total liabilities and net assetsStart of year $2,238,120$2,171,496
Part XI · Reconciliation of net assets −$691,693 net assets at year end
XI-1 Total revenue$225,182
XI-2 Total expenses$273,212
XI-3 Revenue less expenses−$48,030
XI-4 Net assets at start of year−$643,663
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$691,693

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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