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Ebc Housing III FY2020 filing

Tax-deductible

Cleveland, OH501(c)(3)HousingEIN 20-4525971Revenue $337K in FY2020

On file with the IRS1350 Addison Road, 44103-2700 · Cleveland, OHTax-exempt since Jun 2006Publicly supported — 509(a)(2)

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EBC Housing III provides subsidized senior housing and related services for low income elderly.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
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 6
filings with a surplus
Average deficit $151K a year · 40% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4.8M
174% of total assets
Concern: liabilities are 174% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$337K
Spent
$505K
To programs
81%
Net assets
−$2.0M
By yearFY2020–FY2025
Revenue
$337K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$337K
FY2021$361K
FY2022$372K
FY2023$443K
FY2024$351K
FY2025$378K
Expenses
$505K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$505K
FY2021$492K
FY2022$475K
FY2023$526K
FY2024$539K
FY2025$610K
Net assets
−$2.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$2.0M
FY2021−$2.2M
FY2022−$2.3M
FY2023−$2.4M
FY2024−$2.6M
FY2025−$2.9M

From the FY2020 Form 990 (year ending June 2020) · see the original

990 PDF Claim
You’re viewing the FY2020 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 ruling in Jun 2006.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $410K Management & general 19% · $95K

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 · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Rufus Heard
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Denita Bonhart
2nd Vice Chair
$0Pt VII · Sec A
Barbara Bray
Recording Secretary
$0Pt VII · Sec A
Danielle Sydnor
Board Chair
$0Pt VII · Sec A
Cecil Lipscomb
1st Vice Chair
$0Pt VII · Sec A
Danny Williams
President and CEO
$0Pt VII · Sec A
Deborah Enty
Chief Operating Officer
$0Pt VII · Sec A

Danny Williams Former CEO’s $133K is at the 93rd percentile of top reported officer pay among 852 $100K–1M 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.

See Ebc Housing III 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 15aYes

Programs and updates

Offers affordable housing and support services for low-income seniors.

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Provided by the organization

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1 program · $410K · in their own filed words · FY2019
01

EBC Housing III Corp is a nonprofit 501(c)(3) philanthropic organization which provides subsidized senior housing (45 unit independent living facility) through the HUD Section 202 Program for low income elderly.

$410Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$337K
Ln 12
Fees for servicesLn 2g$331K
Other incomeLn 4–11$3K
Gifts and grantsLn 1h$3K
Money outPt IX
$505K
Ln 25
Programscol B$410K
Managementcol C$95K
Owns and owesPt X
−$2.0M
net assets · Ln 32
Cash and savingsLn 1–2$3K
Total assetsLn 16$2.8M
LiabilitiesLn 26$4.8M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3K
Fees for servicesLn 2g$331K
Investment incomeLn 3$551
Other incomeLn 4–11$3K
Total revenueLn 12$337K
Assets in detailPt X, end of year
CashLn 1$3K
Cash and savings togetherLn 1–2$3K
Land, buildings, equipmentLn 10c$2.7M
Other assetsLn 15$84K
Total assetsLn 16$2.8M
LiabilitiesLn 26$4.8M
Net assetsLn 32−$2.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
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 FY20End FY20
Cash and savingsLn 1–2$11K$3K
Land, buildings, equipmentLn 10c$2.8M$2.7M
Total assetsLn 16$2.9M$2.8M
LiabilitiesLn 26$4.8M$4.8M
Net assetsLn 32−$1.9M−$2.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$24K$24K
Accounting feesLn 11c$13K$13K
Office expensesLn 13$7K$3K$4K
OccupancyLn 16$81K$81K
Depreciation, depletion and amortizationLn 22$172K$172K
InsuranceLn 23$16K$15K$1K
Other expenses (24a–d)Ln 24$191K$138K$53K
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$505K$410K$95K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $378K$610K−$232K−$2.9M 990 PDF
FY2024 $351K$539K−$188K−$2.6M 990 PDF
FY2023 $443K$526K−$83K−$2.4M 990 PDF
FY2022 $372K$475K−$103K−$2.3M 990 PDF
FY2021 $361K$492K−$131K−$2.2M 990 PDF
FY2020 Viewing $337K$505K−$167K−$2.0M 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 FY2020 990 (6 parts)
Part I · Summary $337,173 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$2,764
I-9 Program service revenuePrior year $302,844$330,758
I-10 Investment incomePrior year $696$551
I-11 Other revenuePrior year $2,786$3,100
I-12 Total revenuePrior year $306,326$337,173
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefits$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $456,613$504,639
I-18 Total expensesPrior year $456,613$504,639
I-19 Revenue less expensesPrior year −$150,287−$167,466
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $337,173 across 8 lines filed
VIII-1f All other contributions, gifts and grants$2,764
VIII-1h Total contributions, gifts and grants$2,764
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $330,758$330,758
VIII-3 Investment incomeExcluded from tax $551$551
VIII-6 Net rental income or loss$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,100$3,100
VIII-12 Total revenueRelated to mission $333,858 · Unrelated business $0 · Excluded from tax $551$337,173
Part IX · Statement of functional expenses $504,639 across 8 lines filed
IX-11a Management feesManagement $23,760$23,760
IX-11c Accounting feesManagement $12,558$12,558
IX-13 Office expensesPrograms $2,944 · Management $4,288$7,232
IX-16 OccupancyPrograms $81,495$81,495
IX-22 Depreciation, depletion and amortizationPrograms $172,387$172,387
IX-23 InsurancePrograms $14,810 · Management $1,078$15,888
IX-24 Other expenses (24a–d)Programs $137,988 · Management $53,331$191,319
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $409,624 · Management $95,015 · Fundraising $0$504,639
Part X · Balance sheet $2,765,466 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $11,483$2,980
X-9 Prepaid expenses and deferred chargesStart of year $2,379$687
X-10c Land, buildings and equipment, netStart of year $2,845,368$2,677,555
X-15 Other assetsStart of year $74,888$84,244
X-16 Total assetsStart of year $2,934,118$2,765,466
X-17 Accounts payable and accrued expensesStart of year $82,878$82,106
X-25 Other liabilitiesStart of year $444,993$444,993
X-26 Total liabilitiesStart of year $4,809,313$4,808,127
X-32 Total net assets or fund balancesStart of year −$1,875,195−$2,042,661
X-33 Total liabilities and net assetsStart of year $2,934,118$2,765,466
Part XI · Reconciliation of net assets −$2,042,661 net assets at year end
XI-1 Total revenue$337,173
XI-2 Total expenses$504,639
XI-3 Revenue less expenses−$167,466
XI-4 Net assets at start of year−$1,875,195
XI-10 Net assets at end of year−$2,042,661

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

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