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Prospect Housing Properties INC

Tax-deductible

Lebanon, TN501(c)(3)Human ServicesEIN 20-5869855Revenue $66K in FY2025

On file with the IRS960 Maddox Simpson Pkwy, 37090-0751 · Lebanon, TNTax-exempt since Aug 2007Supporting organization — 509(a)(3)

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To provide group home living facilities to people with developmental disabilities.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · 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 $12K a year · 20% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Looks good: 11.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$18K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 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
$66K
-4% vs prior year
Spent
$87K
To programs
100%
Net assets
$735K
By yearFY2020–FY2025
Revenue
$66K
FY2025▼ -4%
Tap a bar for its year
Revenue by fiscal year
FY2020$50K
FY2021$54K
FY2022$61K
FY2023$67K
FY2024$69K
FY2025$66K
Expenses
$87K
FY2025▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$71K
FY2021$66K
FY2022$64K
FY2023$71K
FY2024$83K
FY2025$87K
Net assets
$735K
FY2025▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$789K
FY2021$778K
FY2022$773K
FY2023$769K
FY2024$755K
FY2025$735K

From the FY2025 Form 990 (year ending June 2025) · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2007.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $87K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Leon Wright
Chairman
$0Pt VII · Sec A
John Pfeiffer
Vice-Chair
$0Pt VII · Sec A
Deana Farris
Secretary
$0Pt VII · Sec A
See Prospect Housing Properties INC 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 group homes for people with developmental disabilities.

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Provided by the organization

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1 program · $87K · in their own filed words · FY2024
01

Supported living homesthree supported living homes are provided to people with developmental disabilities in wilson county, tennessee. The homes are designed to be handicapped accessible and affordable for people on fixed incomes. The funding for these homes was provided through a grant from hud.

$87Kprogram expense

By the numbers

The FY2025 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$66K
Ln 12
Fees for servicesLn 2g$42K
Gifts and grantsLn 1h$24K
Investment incomeLn 3$191
Money outPt IX
$87K
Ln 25
Programscol B$87K
Owns and owesPt X
$735K
net assets · Ln 32
Cash and savingsLn 1–2$81K
Total assetsLn 16$753K
LiabilitiesLn 26$18K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$24K
Government grantsLn 1e$24K
Fees for servicesLn 2g$42K
Investment incomeLn 3$191
Total revenueLn 12$66K
Assets in detailPt X, end of year
CashLn 1$81K
Cash and savings togetherLn 1–2$81K
Land, buildings, equipmentLn 10c$672K
Total assetsLn 16$753K
LiabilitiesLn 26$18K
Net assetsLn 32$735K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
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 FY25End FY25
Cash and savingsLn 1–2$77K$81K
Land, buildings, equipmentLn 10c$685K$672K
Total assetsLn 16$770K$753K
LiabilitiesLn 26$15K$18K
Net assetsLn 32$755K$735K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$4K$4K
Other employee benefitsLn 9$687$687
Accounting feesLn 11c$10K$10K
OccupancyLn 16$22K$22K
Depreciation, depletion and amortizationLn 22$27K$27K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$8K$8K
Total functional expensesLn 25$87K$87K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $66K$87K−$21K$735K 990 PDF
FY2024 $69K$83K−$14K$755K 990 PDF
FY2023 $67K$71K−$4K$769K 990 PDF
FY2022 $61K$64K−$3K$773K 990 PDF
FY2021 $54K$66K−$12K$778K 990 PDF
FY2020 $50K$71K−$22K$789K 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 FY2025 990 (6 parts)
Part I · Summary $66,226 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $26,283$23,752
I-9 Program service revenuePrior year $42,014$42,283
I-10 Investment incomePrior year $567$191
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $68,864$66,226
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 $4,900$5,078
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $78,113$82,194
I-18 Total expensesPrior year $83,013$87,272
I-19 Revenue less expensesPrior year −$14,149−$21,046
Part VI · Governance 3 of 3 board members independent, no flags
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $66,226 across 5 lines filed
VIII-1e Government grants$23,752
VIII-1h Total contributions, gifts and grants$23,752
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $42,283$42,283
VIII-3 Investment incomeRelated to mission $191$191
VIII-12 Total revenueRelated to mission $42,474 · Unrelated business $0 · Excluded from tax $0$66,226
Part IX · Statement of functional expenses $87,272 across 7 lines filed
IX-7 Other salaries and wagesPrograms $4,391$4,391
IX-9 Other employee benefitsPrograms $687$687
IX-11c Accounting feesPrograms $10,367$10,367
IX-16 OccupancyPrograms $21,525$21,525
IX-22 Depreciation, depletion and amortizationPrograms $27,100$27,100
IX-23 InsurancePrograms $15,637$15,637
IX-24 Other expenses (24a–d)Programs $7,565$7,565
IX-25 Total functional expensesPrograms $87,272 · Management $0 · Fundraising $0$87,272
Part X · Balance sheet $752,650 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $76,632$80,553
X-10c Land, buildings and equipment, netStart of year $684,651$672,097
X-16 Total assetsStart of year $770,112$752,650
X-17 Accounts payable and accrued expensesStart of year $15,105$18,026
X-26 Total liabilitiesStart of year $15,105$18,026
X-27 Net assets without donor restrictionsStart of year $143,239$147,869
X-28 Net assets with donor restrictionsStart of year $611,768$586,755
X-32 Total net assets or fund balancesStart of year $755,007$734,624
X-33 Total liabilities and net assetsStart of year $770,112$752,650
Part XI · Reconciliation of net assets $734,624 net assets at year end
XI-1 Total revenue$66,226
XI-2 Total expenses$87,272
XI-3 Revenue less expenses−$21,046
XI-4 Net assets at start of year$755,007
XI-8 Prior period adjustments$663
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$734,624

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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