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Armitage Commons Preservation Nfp

Tax-deductible

Chicago, IL501(c)(3)HousingEIN 20-3859675Revenue $1.6M in FY2024

On file with the IRS325 N Wells 8th Floor, 60654-7024 · Chicago, ILTax-exempt since Aug 2007Publicly supported — 509(a)(2)

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To provide safe, decent and sanitary rental housing for low and moderate income tenants.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
Run by 2 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

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
1 of 5
filings with a surplus
Average deficit $140K a year · 9% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10.4M
213% of total assets
Concern: liabilities are 213% of assets; over 80%.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
-6% vs prior year
Spent
$1.6M
To programs
86%
Net assets
−$5.5M
By yearFY2020–FY2024
Revenue
$1.6M
FY2024▼ -6%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.5M
FY2021$1.5M
FY2022$1.5M
FY2023$1.7M
FY2024$1.6M
Expenses
$1.6M
FY2024▲ +1%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.6M
FY2021$1.8M
FY2022$1.8M
FY2023$1.6M
FY2024$1.6M
Net assets
−$5.5M
FY2024▼ -0.6%
Tap a bar for its year
Net assets by fiscal year
FY2020−$5.0M
FY2021−$5.3M
FY2022−$5.6M
FY2023−$5.5M
FY2024−$5.5M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2007.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $1.4M Management & general 14% · $232K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Paul Slade
Secretary
$0Pt VII · Sec A
Hank Mendoza
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Stephen Porras
Vice-President
$0Pt VII · Sec A
$0Pt VII · Sec A
Sheri Tucker
Director of Public Housing
$0Pt VII · Sec A
$0Pt VII · Sec A
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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 safe, decent, and sanitary rental housing for low and moderate-income tenants.

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Provided by the organization

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1 program · $1.4M · in their own filed words · FY2024
01

The corporation operates an apartment complex in chicago, il, occupied by low income tenants. 111 families were served in 2024. The sponsor of this project is hispanic housing development corporation, which is a tax exempt organization.

$1.4Mprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.6M
Ln 12
Fees for servicesLn 2g$1.6M
Gifts and grantsLn 1h$27K
Investment incomeLn 3$1K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.4M
Managementcol C$232K
Owns and owesPt X
−$5.5M
net assets · Ln 32
Cash and savingsLn 1–2$60K
Total assetsLn 16$4.9M
LiabilitiesLn 26$10.4M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$27K
Government grantsLn 1e$27K
Fees for servicesLn 2g$1.6M
Investment incomeLn 3$1K
Other incomeLn 4–11$767
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$60K
Cash and savings togetherLn 1–2$60K
Land, buildings, equipmentLn 10c$4.3M
Other assetsLn 15$423K
Total assetsLn 16$4.9M
LiabilitiesLn 26$10.4M
Net assetsLn 32−$5.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 62
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$2K$60K
Land, buildings, equipmentLn 10c$4.5M$4.3M
Total assetsLn 16$5.1M$4.9M
LiabilitiesLn 26$10.6M$10.4M
Net assetsLn 32−$5.5M−$5.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$203K$203K
Other employee benefitsLn 9$55K$55K
Payroll taxesLn 10$14K$14K
Management feesLn 11a$91K$91K
Accounting feesLn 11c$32K$32K
Other fees for servicesLn 11g$8K$8K
Office expensesLn 13$48K$48K
OccupancyLn 16$353K$353K
InterestLn 20$345K$257K$87K
Depreciation, depletion and amortizationLn 22$284K$284K
InsuranceLn 23$158K$158K
Other expenses (24a–d)Ln 24$21K$8K$13K
Total functional expensesLn 25$1.6M$1.4M$232K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.6M$1.6M−$31K−$5.5M 990 PDF
FY2023 $1.7M$1.6M$96K−$5.5M 990 PDF
FY2022 $1.5M$1.8M−$320K−$5.6M 990 PDF
FY2021 $1.5M$1.8M−$266K−$5.3M 990 PDF
FY2020 $1.5M$1.6M−$180K−$5.0M 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 $1,580,410 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $75,680$26,832
I-9 Program service revenuePrior year $1,493,232$1,551,391
I-10 Investment incomePrior year $1,690$1,420
I-11 Other revenuePrior year $119,069$767
I-12 Total revenuePrior year $1,689,671$1,580,410
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 $272,400$272,044
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,321,360$1,339,624
I-18 Total expensesPrior year $1,593,760$1,611,668
I-19 Revenue less expensesPrior year $95,911−$31,258
Part VI · Governance 2 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
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-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,580,410 across 6 lines filed
VIII-1e Government grants$26,832
VIII-1h Total contributions, gifts and grants$26,832
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,551,391$1,551,391
VIII-3 Investment incomeExcluded from tax $1,420$1,420
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $767$767
VIII-12 Total revenueRelated to mission $1,552,158 · Unrelated business $0 · Excluded from tax $1,420$1,580,410
Part IX · Statement of functional expenses $1,611,668 across 12 lines filed
IX-7 Other salaries and wagesPrograms $203,368$203,368
IX-9 Other employee benefitsPrograms $55,019$55,019
IX-10 Payroll taxesPrograms $13,657$13,657
IX-11a Management feesManagement $91,459$91,459
IX-11c Accounting feesManagement $31,673$31,673
IX-11g Other fees for servicesManagement $8,118$8,118
IX-13 Office expensesPrograms $47,911$47,911
IX-16 OccupancyPrograms $353,109$353,109
IX-20 InterestPrograms $257,453 · Management $87,158$344,611
IX-22 Depreciation, depletion and amortizationPrograms $283,895$283,895
IX-23 InsurancePrograms $157,520$157,520
IX-24 Other expenses (24a–d)Programs $7,861 · Management $13,467$21,328
IX-25 Total functional expensesPrograms $1,379,793 · Management $231,875 · Fundraising $0$1,611,668
Part X · Balance sheet $4,876,779 assets, 12 lines filed
Asset lines not itemized here account for $43,066; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,784$59,530
X-4 Accounts receivableStart of year $71,100$36,370
X-9 Prepaid expenses and deferred chargesStart of year $12,338$15,527
X-10c Land, buildings and equipment, netStart of year $4,516,217$4,299,721
X-15 Other assetsStart of year $416,197$422,565
X-16 Total assetsStart of year $5,059,412$4,876,779
X-17 Accounts payable and accrued expensesStart of year $205,041$127,645
X-25 Other liabilitiesStart of year $97,016$78,266
X-26 Total liabilitiesStart of year $10,552,782$10,401,407
X-27 Net assets without donor restrictionsStart of year −$5,493,370−$5,524,628
X-32 Total net assets or fund balancesStart of year −$5,493,370−$5,524,628
X-33 Total liabilities and net assetsStart of year $5,059,412$4,876,779
Part XI · Reconciliation of net assets −$5,524,628 net assets at year end
XI-1 Total revenue$1,580,410
XI-2 Total expenses$1,611,668
XI-3 Revenue less expenses−$31,258
XI-4 Net assets at start of year−$5,493,370
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$5,524,628

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

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