Euell Development Limited Dividend: Nonprofit Profile, Financials & Form 990 (EIN 22-2952177)

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2020.

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

Where the money goes

83 cents of each dollar spent went to programs.

83%

17%

Program services 83% · $85K Management & general 17% · $18K

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

1 person listed on the 990.

Part VII, Section A · reportable compensation

J Kenneth Pagano

Manager

$0Pt VII · Sec A

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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 9 low-income housing units in Jersey City, NJ.

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Provided by the organization

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1 program · $85K · in their own filed words · FY2020

01

Ownership & operation of a nine unit low income housing complex under NJ housing & mortage finance agency regulations

$85Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$63K

Ln 12

Fees for servicesLn 2g$63K

Investment incomeLn 3$50

Money outPt IX

$102K

Ln 25

Programscol B$85K

Managementcol C$18K

Owns and owesPt X

−$118K

net assets · Ln 32

Cash and savingsLn 1–2$2K

Total assetsLn 16$402K

LiabilitiesLn 26$519K

PeoplePt VI, VII

1

listed · VII A

PaidVII A0

Voting boardVI 1a1

IndependentVI 1b1

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$63K

Investment incomeLn 3$50

Total revenueLn 12$63K

Assets in detailPt X, end of year

CashLn 1$2K

Cash and savings togetherLn 1–2$2K

Land, buildings, equipmentLn 10c$380K

Other assetsLn 15$7K

Total assetsLn 16$402K

LiabilitiesLn 26$519K

Net assetsLn 32−$118K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

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

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$2K	$2K
Land, buildings, equipmentLn 10c	$400K	$380K
Total assetsLn 16	$431K	$402K
LiabilitiesLn 26	$427K	$519K
Net assetsLn 32	$4K	−$118K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Management feesLn 11a	$6K		$6K
Legal feesLn 11b	$2K		$2K
Accounting feesLn 11c	$8K		$8K
Other fees for servicesLn 11g	$2K	$645	$1K
Advertising and promotionLn 12	$588	$588
Office expensesLn 13	$586	$586
OccupancyLn 16	$18K	$18K
Depreciation, depletion and amortizationLn 22	$33K	$33K
InsuranceLn 23	$8K	$8K
Other expenses (24a–d)Ln 24	$24K	$24K
Total functional expensesLn 25	$102K	$85K	$18K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2020 Latest Viewing	$63K	$102K	−$40K	−$118K	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 $62,602 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $16,108$0

I-9 Program service revenuePrior year $67,632$62,552

I-10 Investment incomePrior year $180$50

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $83,920$62,602

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 $81,587$102,459

I-18 Total expensesPrior year $81,587$102,459

I-19 Revenue less expensesPrior year $2,333−$39,857

Part VI · Governance 1 of 1 board members independent, 4 to look at

VI-1a Voting members of the governing body1

VI-1b Independent voting members1

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $62,602 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $62,552$62,552

VIII-3 Investment incomeRelated to mission $50$50

VIII-12 Total revenueRelated to mission $62,602 · Unrelated business $0 · Excluded from tax $0$62,602

Part IX · Statement of functional expenses $102,459 across 10 lines filed

IX-11a Management feesManagement $6,000$6,000

IX-11b Legal feesManagement $2,357$2,357

IX-11c Accounting feesManagement $8,250$8,250

IX-11g Other fees for servicesPrograms $645 · Management $1,200$1,845

IX-12 Advertising and promotionPrograms $588$588

IX-13 Office expensesPrograms $586$586

IX-16 OccupancyPrograms $18,318$18,318

IX-22 Depreciation, depletion and amortizationPrograms $32,793$32,793

IX-23 InsurancePrograms $7,522$7,522

IX-24 Other expenses (24a–d)Programs $24,200$24,200

IX-25 Total functional expensesPrograms $84,652 · Management $17,807 · Fundraising $0$102,459

Part X · Balance sheet $401,650 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $2,049$2,009

X-4 Accounts receivableStart of year $7,579$6,460

X-9 Prepaid expenses and deferred chargesStart of year $4,484$6,349

X-10c Land, buildings and equipment, netStart of year $399,698$380,109

X-15 Other assetsStart of year $17,455$6,723

X-16 Total assetsStart of year $431,265$401,650

X-17 Accounts payable and accrued expensesStart of year $5,253$15,495

X-25 Other liabilitiesStart of year $422,163$503,713

X-26 Total liabilitiesStart of year $427,416$519,208

X-27 Net assets without donor restrictionsStart of year $3,849−$117,558

X-32 Total net assets or fund balancesStart of year $3,849−$117,558

X-33 Total liabilities and net assetsStart of year $431,265$401,650

Part XI · Reconciliation of net assets −$117,558 net assets at year end

XI-1 Total revenue$62,602

XI-2 Total expenses$102,459

XI-3 Revenue less expenses−$39,857

XI-4 Net assets at start of year$3,849

XI-8 Prior period adjustments−$81,550

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year−$117,558

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

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