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Otsar Corp

Tax-deductible

Oneonta, NY501(c)(3)Human ServicesEIN 22-2319181Revenue $168K in FY2024

On file with the IRSarcotsego.orgPo Box 490, 13820-0490 · Oneonta, NYTax-exempt since Jul 1981Publicly supported charity — 170(b)(1)(A)(vi)

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Otsar serves developmentally disabled persons by providing facilities to nysarc, INC. Otsego county chapter, a related exempt organization.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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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
4 of 5
filings with a surplus
Average surplus $38K a year · 20% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 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
22 mo
of spending, in cash
Looks good: 22.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$875K
51% of total assets
Fine: liabilities are 51% of assets; 50% to 65%.
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
$168K
-15% vs prior year
Spent
$183K
To programs
100%
Net assets
$834K
By yearFY2020–FY2024
Revenue
$168K
FY2024▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2020$147K
FY2021$202K
FY2022$216K
FY2023$197K
FY2024$168K
Expenses
$183K
FY2024▲ +17%
Tap a bar for its year
Expenses by fiscal year
FY2020$118K
FY2021$151K
FY2022$133K
FY2023$156K
FY2024$183K
Net assets
$834K
FY2024▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$674K
FY2021$725K
FY2022$808K
FY2023$849K
FY2024$834K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jul 1981.

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% · $183K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Peter Lilja
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Walter Hogan
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Sara Hanlon
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Otsar Corp 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

Provides facilities for developmentally disabled persons.

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Provided by the organization

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1 program · $183K · in their own filed words · FY2024
01

Provides residences for nysarc, inc. Otsego county chapter.

$183Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$168K
Ln 12
Fees for servicesLn 2g$168K
Money outPt IX
$183K
Ln 25
Programscol B$183K
Owns and owesPt X
$834K
net assets · Ln 32
Cash and savingsLn 1–2$340K
Total assetsLn 16$1.7M
LiabilitiesLn 26$875K
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$168K
Total revenueLn 12$168K
Assets in detailPt X, end of year
CashLn 1$340K
Cash and savings togetherLn 1–2$340K
Land, buildings, equipmentLn 10c$1.1M
Other assetsLn 15$52K
Total assetsLn 16$1.7M
LiabilitiesLn 26$875K
Net assetsLn 32$834K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
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$321K$340K
Land, buildings, equipmentLn 10c$1.2M$1.1M
Total assetsLn 16$1.9M$1.7M
LiabilitiesLn 26$1.0M$875K
Net assetsLn 32$849K$834K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$5K$5K
InterestLn 20$9K$9K
Depreciation, depletion and amortizationLn 22$156K$156K
Other expenses (24a–d)Ln 24$13K$13K
Total functional expensesLn 25$183K$183K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $168K$183K−$15K$834K 990 PDF
FY2023 $197K$156K$42K$849K 990 PDF
FY2022 $216K$133K$83K$808K 990 PDF
FY2021 $202K$151K$51K$725K 990 PDF
FY2020 $147K$118K$29K$674K 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 $167,592 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $197,319$167,592
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $197,319$167,592
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 $155,802$182,954
I-18 Total expensesPrior year $155,802$182,954
I-19 Revenue less expensesPrior year $41,517−$15,362
Part VI · Governance 4 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
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 $167,592 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $167,592$167,592
VIII-12 Total revenueRelated to mission $167,592 · Unrelated business $0 · Excluded from tax $0$167,592
Part IX · Statement of functional expenses $182,954 across 4 lines filed
IX-11b Legal feesPrograms $4,525$4,525
IX-20 InterestPrograms $9,448$9,448
IX-22 Depreciation, depletion and amortizationPrograms $155,997$155,997
IX-24 Other expenses (24a–d)Programs $12,984$12,984
IX-25 Total functional expensesPrograms $182,954 · Management $0 · Fundraising $0$182,954
Part X · Balance sheet $1,708,625 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $321,068$339,944
X-9 Prepaid expenses and deferred chargesStart of year $251,400$251,400
X-10c Land, buildings and equipment, netStart of year $1,220,852$1,064,855
X-15 Other assetsStart of year $67,730$52,426
X-16 Total assetsStart of year $1,861,050$1,708,625
X-20 Tax-exempt bond liabilitiesStart of year $434,026$311,877
X-25 Other liabilitiesStart of year $577,742$562,828
X-26 Total liabilitiesStart of year $1,011,768$874,705
X-27 Net assets without donor restrictionsStart of year $849,282$833,920
X-32 Total net assets or fund balancesStart of year $849,282$833,920
X-33 Total liabilities and net assetsStart of year $1,861,050$1,708,625
Part XI · Reconciliation of net assets $833,920 net assets at year end
XI-1 Total revenue$167,592
XI-2 Total expenses$182,954
XI-3 Revenue less expenses−$15,362
XI-4 Net assets at start of year$849,282
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$833,920

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

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