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Bethany Housing Corp

Tax-deductible

Tolland, CT501(c)(3)EIN 22-2573806

The corporation owns and operates 39 units of low income, elderly housing which is subsidized by rural development, a division of the US department of agriculture.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Run by 11 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
2 of 5
filings with a surplus
Average deficit $37K a year · 11% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 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
15 mo
of spending, in cash
Looks good: 14.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.9M
256% of total assets
Concern: liabilities are 256% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$380K
+9% vs prior year
Spent
$374K
To programs
81%
Net assets
−$1.1M
By yearFY2020–FY2024
Revenue
$380K
FY2024▲ +9%
Revenue by fiscal year
FY2020$296K
FY2021$317K
FY2022$320K
FY2023$347K
FY2024$380K
Expenses
$374K
FY2024▲ +11%
Expenses by fiscal year
FY2020$452K
FY2021$329K
FY2022$358K
FY2023$335K
FY2024$374K
Net assets
−$1.1M
FY2024▲ +0.5%
Net assets by fiscal year
FY2020−$1.1M
FY2021−$1.1M
FY2022−$1.2M
FY2023−$1.1M
FY2024−$1.1M

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1985.

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% · $302K Management & general 19% · $72K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
James Gannuscio
Vice Preseident
$0Pt VII · Sec A
Eric Rennie
Secretary
$0Pt VII · Sec A
Daniel Kelly
Director
$0Pt VII · Sec A
Jean Ryan
Director
$0Pt VII · Sec A
Alice Kelly
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Bethany Housing 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 15aNo

Programs and updates

Provides subsidized housing for low-income seniors.

Provided by the organization

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1 program service account for $302K of program spending, described in the organization's own filed words · FY2024.
01

The corporation owns and operates 39 units of rural development subsidized housing for the low-income lederly.

$302Kprogram expense

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$380K
Ln 12
Fees for servicesLn 2g$345K
Gifts and grantsLn 1h$34K
Investment incomeLn 3$631
Money outPt IX
$374K
Ln 25
Programscol B$302K
Managementcol C$72K
Owns and owesPt X
−$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$458K
Total assetsLn 16$730K
LiabilitiesLn 26$1.9M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$34K
Government grantsLn 1e$34K
Fees for servicesLn 2g$345K
Investment incomeLn 3$631
Total revenueLn 12$380K
Assets in detailPt X, end of year
CashLn 1$76K
SavingsLn 2$382K
Cash and savings togetherLn 1–2$458K
Land, buildings, equipmentLn 10c$268K
Total assetsLn 16$730K
LiabilitiesLn 26$1.9M
Net assetsLn 32−$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 611
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$408K$458K
Land, buildings, equipmentLn 10c$275K$268K
Total assetsLn 16$694K$730K
LiabilitiesLn 26$1.8M$1.9M
Net assetsLn 32−$1.1M−$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$55K$55K
Accounting feesLn 11c$9K$9K
Advertising and promotionLn 12$116$116
Office expensesLn 13$80$80
OccupancyLn 16$43K$34K$8K
InterestLn 20$56K$56K
Depreciation, depletion and amortizationLn 22$25K$25K
InsuranceLn 23$25K$25K
Other expenses (24a–d)Ln 24$161K$161K
Total functional expensesLn 25$374K$302K$72K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $380K$374K$6K−$1.1M 990 PDF
FY2023 $347K$335K$12K−$1.1M 990 PDF
FY2022 $320K$358K−$38K−$1.2M 990 PDF
FY2021 $317K$329K−$11K−$1.1M 990 PDF
FY2020 $296K$452K−$156K−$1.1M 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 (4 parts)
Part VIII · Statement of revenue $379,863 across 5 lines filed
VIII-1e Government grants$33,852
VIII-1h Total contributions, gifts and grants$33,852
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $345,380$345,380
VIII-3 Investment incomeExcluded from tax $631$631
VIII-12 Total revenueRelated to mission $345,380 · Unrelated business $0 · Excluded from tax $631$379,863
Part IX · Statement of functional expenses $373,674 across 9 lines filed
IX-11a Management feesManagement $54,864$54,864
IX-11c Accounting feesManagement $8,556$8,556
IX-12 Advertising and promotionManagement $116$116
IX-13 Office expensesPrograms $80$80
IX-16 OccupancyPrograms $34,231 · Management $8,322$42,553
IX-20 InterestPrograms $56,186$56,186
IX-22 Depreciation, depletion and amortizationPrograms $25,120$25,120
IX-23 InsurancePrograms $24,895$24,895
IX-24 Other expenses (24a–d)Programs $161,304$161,304
IX-25 Total functional expensesPrograms $301,816 · Management $71,858 · Fundraising $0$373,674
Part X · Balance sheet $729,759 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $24,387$76,217
X-2 Savings and temporary cash investmentsStart of year $383,840$382,228
X-4 Accounts receivableStart of year $855$798
X-9 Prepaid expenses and deferred chargesStart of year $7,668$2,076
X-10c Land, buildings and equipment, netStart of year $275,041$268,440
X-14 Intangible assetsStart of year $2,295$0
X-16 Total assetsStart of year $694,086$729,759
X-17 Accounts payable and accrued expensesStart of year $44,142$55,038
X-19 Deferred revenueStart of year $2,214$2,554
X-25 Other liabilitiesStart of year $19,467$20,184
X-26 Total liabilitiesStart of year $1,835,907$1,865,391
X-27 Net assets without donor restrictionsStart of year −$1,141,821−$1,135,632
X-32 Total net assets or fund balancesStart of year −$1,141,821−$1,135,632
X-33 Total liabilities and net assetsStart of year $694,086$729,759
Part XI · Reconciliation of net assets −$1,135,632 net assets at year end
XI-1 Total revenue$379,863
XI-2 Total expenses$373,674
XI-3 Revenue less expenses$6,189
XI-4 Net assets at start of year−$1,141,821
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,135,632

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

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