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Grandview Second Corporation

Tax-deductible

Providence, RI501(c)(3)Since 1987HousingEIN 22-2812929

To provide low income housing facilities to individuals with chronic mental illness, designed to meet occupants' physical, social and psychological needs; in conjunction with and in support of the providence center, INC.; a related internal revenue code section 501(c)(3) tax-exempt affiliate.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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 $12K a year · 4% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$512K
59% of total assets
Fine: liabilities are 59% of assets; 50% to 65%.
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
$263K
-4% vs prior year
Spent
$407K
To programs
90%
Net assets
$361K
By yearFY2020–FY2024
Revenue
$263K
FY2024▼ -4%
Revenue by fiscal year
FY2020$248K
FY2021$470K
FY2022$327K
FY2023$291K
FY2024$273K
FY2024$263K
Expenses
$407K
FY2024▲ +1%
Expenses by fiscal year
FY2020$261K
FY2021$326K
FY2022$311K
FY2023$371K
FY2024$401K
FY2024$407K
Net assets
$361K
FY2024▼ -32%
Net assets by fiscal year
FY2020$677K
FY2021$796K
FY2022$787K
FY2023$682K
FY2024$530K
FY2024$361K

From the FY2024 Form 990 · see the original

Give Claim

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CGrandview Second Corporation
EINHdr · item D22-2812929
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFDec 1991
Year of formationHdr · item L1987
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CProvidence, RI
NTEE classificationIRS BMFHousing (L210)
WebsiteHdr · item Jwww.theprovidencecenter.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.10
Program services90%$366K
Management & general10%$41K
Total functional expensesLn 25$407K

Finances

Money in and out, what it owns and owes

Spent on programs
90%
of spending reaches programs>-0.01% vs prior filing year
Months of spending covered by cash
0.8mo
months of spending covered by cash and easy-to-sell investments0% vs prior filing year
Surplus or deficit
-54%
as % of revenue, this year▼ -17% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$873K
FY2024▲ +0.6%
Total assets by fiscal year
FY2020$917K
FY2021$910K
FY2022$966K
FY2023$896K
FY2024$867K
FY2024$873K
Total liabilities
$512K
FY2024▲ +51%
Total liabilities by fiscal year
FY2020$240K
FY2021$114K
FY2022$180K
FY2023$214K
FY2024$338K
FY2024$512K
Revenue less expensesPt I · Ln 19−$143K
Total assetsPt X · Ln 16$873K
Spent on programsPt IX · col B90%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 42

Balance Sheet

Part X · end of year
CashLn 1$28K
Total assetsLn 16$873K
Total liabilitiesLn 26$512K
Total net assetsLn 32$361K
Months of cash on handcomputed0.8

Statement of Revenue

Part VIII
Program service revenue100%$263K
Investment income$573
Total revenueLn 12$263K

Money in detail

Form 990 · FY2024 · each figure shown with the dollars behind it
Cash and giving out
Months of spending covered by cash
Cash and easy-to-sell investments $28K · Operating expenses/yr $407K
0.8 months
Where the money goes
Program services
Program services $366K · Total expenses $407K
90%
Management & General
Management & general $41K · Total expenses $407K
10%
Fundraising
Fundraising $0 · Total expenses $407K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $263K
0%
Government reliance
Government grants — · Total revenue $263K
—
Earned-income share
Program service revenue $263K · Total revenue $263K
100%
Investment reliance
Investment income $573 · Total revenue $263K
+0.2%
Program self-sufficiency
Program service revenue $263K · Total expenses $407K
65%
Growth & trend
Revenue change from last year
This year $263K · Prior year $273K
-4%
Revenue, average yearly change over 5 years
FY2019 $248K · FY2024 $263K
+1%
Net assets change over the year
End of year $361K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus or deficit, as % of revenue
Revenue $263K · Expenses $407K
-54%
Debts compared to what it owns
Total liabilities — · Total assets $873K
—
Net assets compared to what it owns
Net assets $361K · Total assets $873K
41%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $873K
0%
People & payroll
Highest Reported Total Compensation
Individual Mary Marran · Reported title PRESIDENT - TRUSTEE · Highest reported compensation $0 · Total expenses $407K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $407K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Spent on programs 90%——
Spent on management, % of spending 10%——
Revenue growth -4%——

Straight from the Form 990 — descriptive, not an evaluation. A share is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Mary Marran
President - Trustee
$0Pt VII · Sec A
Stephen E Burke
VP of Finance
$0Pt VII · Sec A
Patricia Cawley Affleck
Secretary - Trustee
$0Pt VII · Sec A
Jana M Planka
Treasurer - Trustee
$0Pt VII · Sec A
See Grandview Second Corporation executive salaries →

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Governance & Policies

Part VI
  • 3Voting board membersPt VI · Ln 1a
  • 2Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Administers a HUD Section 811 mortgage to support the Providence Center.

Provided by the organization

This section is blank until Grandview Second Corporation claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $366K of program spending, described in the organization's own filed words · FY2024.
01

Expenses incurred in managing 19 units of low-income housing for individuals with chronic mental illness.

$366Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $273K$401K-6% 990 PDF
FY2023 $291K$371K-11% 990 PDF
FY2022 $327K$311K-30% 990 PDF
FY2021 $470K$326K+89% 990 PDF
FY2020 $248K$261K 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

Full filing: Form 990 for FY2024

Every line we hold from the return, cited to its Part and line.
Part VIII · Statement of revenue $263,437 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $262,864$262,864
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $573$573
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $262,864 · Unrelated business $0 · Excluded from tax $573$263,437
Part IX · Statement of functional expenses $406,823 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management feesPrograms $16,375 · Management $1,819$18,194
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $15,244 · Management $1,694$16,938
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $20,481 · Management $2,276$22,757
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $17,456 · Management $1,940$19,396
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $73,204 · Management $8,134$81,338
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $45,338 · Management $5,038$50,376
IX-23 InsurancePrograms $1,619 · Management $180$1,799
IX-24 Other expenses (24a–d)Programs $176,422 · Management $19,603$196,025
IX-25 Total functional expensesPrograms $366,139 · Management $40,684 · Fundraising $0$406,823
Part X · Balance sheet $872,848 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $27,603$28,437
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$424
X-10c Land, buildings and equipment, netStart of year $526,150$552,771
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $313,725$291,216
X-16 Total assetsStart of year $867,478$872,848
X-17 Accounts payable and accrued expensesStart of year $24,519$21,104
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $30$116
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $313,169$490,284
X-26 Total liabilitiesStart of year $337,718$511,504
X-27 Net assets without donor restrictionsStart of year $143,192−$194
X-28 Net assets with donor restrictionsStart of year $386,568$361,538
X-32 Total net assets or fund balancesStart of year $529,760$361,344
X-33 Total liabilities and net assetsStart of year $867,478$872,848
Part XI · Reconciliation of net assets $361,344 net assets at year end
XI-1 Total revenue$263,437
XI-2 Total expenses$406,823
XI-3 Revenue less expenses−$143,386
XI-4 Net assets at start of year$529,760
XI-9 Other changes in net assets−$25,030
XI-10 Net assets at end of year$361,344

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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