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Ahepa 37 INC

Tax-deductible

Syracuse, NY501(c)(3) EIN 22-2989708Revenue $667K in FY2025

On file with the IRS100 Ahepa Circle, 13215-1951 · Syracuse, NYTax-exempt since Jun 1994Publicly supported — 509(a)(2)

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The corporation was organized to construct, own, and operate an affordable housing apartment community.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Run by 8 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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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
6 of 6
filings with a surplus
Average surplus $98K a year · 16% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$971K
142% of total assets
Concern: liabilities are 142% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$667K
-0.7% vs prior year
Spent
$551K
To programs
90%
Net assets
−$287K
By yearFY2020–FY2025
Revenue
$667K
FY2025▼ -0.7%
Tap a bar for its year
Revenue by fiscal year
FY2020$577K
FY2021$576K
FY2022$617K
FY2023$626K
FY2024$672K
FY2025$667K
Expenses
$551K
FY2025▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$528K
FY2021$518K
FY2022$521K
FY2023$495K
FY2024$534K
FY2025$551K
Net assets
−$287K
FY2025▲ +29%
Tap a bar for its year
Net assets by fiscal year
FY2020−$825K
FY2021−$767K
FY2022−$672K
FY2023−$541K
FY2024−$403K
FY2025−$287K

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 Jun 1994.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $498K Management & general 10% · $53K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Mike Labatos
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Gus Kosmas
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Ahepa 37 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 15aNo

Programs and updates

Builds and manages affordable housing for residents.

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Provided by the organization

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1 program · $498K · in their own filed words · FY2024
01

Provide housing to low income individuals.

$498Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$667K
Ln 12
Fees for servicesLn 2g$664K
Investment incomeLn 3$2K
Other incomeLn 4–11$963
Money outPt IX
$551K
Ln 25
Programscol B$498K
Managementcol C$53K
Owns and owesPt X
−$287K
net assets · Ln 32
Total assetsLn 16$684K
LiabilitiesLn 26$971K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$664K
Investment incomeLn 3$2K
Other incomeLn 4–11$963
Total revenueLn 12$667K
Assets in detailPt X, end of year
Land, buildings, equipmentLn 10c$363K
Other assetsLn 15$265K
Total assetsLn 16$684K
LiabilitiesLn 26$971K
Net assetsLn 32−$287K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Land, buildings, equipmentLn 10c$390K$363K
Total assetsLn 16$724K$684K
LiabilitiesLn 26$1.1M$971K
Net assetsLn 32−$403K−$287K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$40K$40K
Accounting feesLn 11c$9K$9K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$5K$5K
Information technologyLn 14$6K$6K
OccupancyLn 16$39K$39K
Conferences, conventions and meetingsLn 19$4K$4K
InterestLn 20$82K$82K
Depreciation, depletion and amortizationLn 22$52K$52K
InsuranceLn 23$63K$63K
Other expenses (24a–d)Ln 24$230K$230K
All other expensesLn 24e$18K$18K
Total functional expensesLn 25$551K$498K$53K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $667K$551K$116K−$287K 990 PDF
FY2024 $672K$534K$138K−$403K 990 PDF
FY2023 $626K$495K$131K−$541K 990 PDF
FY2022 $617K$521K$96K−$672K 990 PDF
FY2021 $576K$518K$58K−$767K 990 PDF
FY2020 $577K$528K$49K−$825K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $666,825 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $643,812$664,206
I-10 Investment incomePrior year $617$1,656
I-11 Other revenuePrior year $27,220$963
I-12 Total revenuePrior year $671,649$666,825
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 $533,948$550,936
I-18 Total expensesPrior year $533,948$550,936
I-19 Revenue less expensesPrior year $137,701$115,889
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $666,825 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $664,206$664,206
VIII-3 Investment incomeExcluded from tax $1,656$1,656
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $963$963
VIII-12 Total revenueRelated to mission $664,206 · Unrelated business $0 · Excluded from tax $2,619$666,825
Part IX · Statement of functional expenses $550,936 across 12 lines filed
IX-11a Management feesManagement $40,293$40,293
IX-11c Accounting feesManagement $8,510$8,510
IX-12 Advertising and promotionPrograms $1,603$1,603
IX-13 Office expensesPrograms $5,454$5,454
IX-14 Information technologyPrograms $6,479$6,479
IX-16 OccupancyPrograms $38,938$38,938
IX-19 Conferences, conventions and meetingsManagement $3,983$3,983
IX-20 InterestPrograms $81,529$81,529
IX-22 Depreciation, depletion and amortizationPrograms $52,445$52,445
IX-23 InsurancePrograms $63,455$63,455
IX-24 Other expenses (24a–d)Programs $229,987$229,987
IX-24e All other expensesPrograms $18,260$18,260
IX-25 Total functional expensesPrograms $498,150 · Management $52,786 · Fundraising $0$550,936
Part X · Balance sheet $683,879 assets, 13 lines filed
X-4 Accounts receivableStart of year $6,227$962
X-9 Prepaid expenses and deferred chargesStart of year $11,244$55,661
X-10c Land, buildings and equipment, netStart of year $389,603$362,512
X-15 Other assetsStart of year $312,582$264,744
X-16 Total assetsStart of year $723,770$683,879
X-17 Accounts payable and accrued expensesStart of year $83,972$32,172
X-19 Deferred revenueStart of year $2,928$3,290
X-24 Unsecured notes and loans payableStart of year $1,018,734$916,891
X-25 Other liabilitiesStart of year $21,109$18,610
X-26 Total liabilitiesStart of year $1,126,743$970,963
X-27 Net assets without donor restrictionsStart of year −$402,973−$287,084
X-32 Total net assets or fund balancesStart of year −$402,973−$287,084
X-33 Total liabilities and net assetsStart of year $723,770$683,879
Part XI · Reconciliation of net assets −$287,084 net assets at year end
XI-1 Total revenue$666,825
XI-2 Total expenses$550,936
XI-3 Revenue less expenses$115,889
XI-4 Net assets at start of year−$402,973
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$287,084

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

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