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Ahepa 37 INC FY2023 filing

Tax-deductible

Syracuse, NY501(c)(3) EIN 22-2989708Revenue $626K in FY2023

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.
91¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.2M
178% of total assets
Concern: liabilities are 178% 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
$626K
+1% vs prior year
Spent
$495K
To programs
91%
Net assets
−$541K
By yearFY2020–FY2025
Revenue
$626K
FY2023▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2020$577K
FY2021$576K
FY2022$617K
FY2023$626K
FY2024$672K
FY2025$667K
Expenses
$495K
FY2023▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$528K
FY2021$518K
FY2022$521K
FY2023$495K
FY2024$534K
FY2025$551K
Net assets
−$541K
FY2023▲ +20%
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 FY2023 Form 990 (year ending June 2023) · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

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

91 cents of each dollar spent went to programs.

Program services 91% · $451K Management & general 9% · $44K

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 (FY2022); the FY2023 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
$0Pt VII · Sec A
Gus Kosmas
Director
$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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1 program · $451K · in their own filed words · FY2022
01

Provide housing to low income individuals.

$451Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$626K
Ln 12
Fees for servicesLn 2g$606K
Other incomeLn 4–11$19K
Investment incomeLn 3$23
Money outPt IX
$495K
Ln 25
Programscol B$451K
Managementcol C$44K
Owns and owesPt X
−$541K
net assets · Ln 32
Cash and savingsLn 1–2$16K
Total assetsLn 16$696K
LiabilitiesLn 26$1.2M
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$606K
Investment incomeLn 3$23
Other incomeLn 4–11$19K
Total revenueLn 12$626K
Assets in detailPt X, end of year
CashLn 1$16K
Cash and savings togetherLn 1–2$16K
Land, buildings, equipmentLn 10c$398K
Other assetsLn 15$268K
Total assetsLn 16$696K
LiabilitiesLn 26$1.2M
Net assetsLn 32−$541K
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 FY23End FY23
Cash and savingsLn 1–2$33K$16K
Land, buildings, equipmentLn 10c$429K$398K
Total assetsLn 16$709K$696K
LiabilitiesLn 26$1.4M$1.2M
Net assetsLn 32−$672K−$541K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$34K$34K
Accounting feesLn 11c$8K$8K
Advertising and promotionLn 12$728$728
Office expensesLn 13$6K$6K
Information technologyLn 14$6K$6K
OccupancyLn 16$38K$38K
Conferences, conventions and meetingsLn 19$2K$2K
InterestLn 20$97K$97K
Depreciation, depletion and amortizationLn 22$49K$49K
InsuranceLn 23$57K$57K
Other expenses (24a–d)Ln 24$184K$184K
All other expensesLn 24e$14K$14K
Total functional expensesLn 25$495K$451K$44K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $667K$551K$116K−$287K 990 PDF
FY2024 $672K$534K$138K−$403K 990 PDF
FY2023 Viewing $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 FY2023 990 (6 parts)
Part I · Summary $625,707 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $603,384$606,195
I-10 Investment incomePrior year $27$23
I-11 Other revenuePrior year $13,630$19,489
I-12 Total revenuePrior year $617,041$625,707
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 $521,315$494,694
I-18 Total expensesPrior year $521,315$494,694
I-19 Revenue less expensesPrior year $95,726$131,013
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 $625,707 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $606,195$606,195
VIII-3 Investment incomeExcluded from tax $23$23
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $19,489$19,489
VIII-12 Total revenueRelated to mission $606,195 · Unrelated business $0 · Excluded from tax $19,512$625,707
Part IX · Statement of functional expenses $494,694 across 12 lines filed
IX-11a Management feesManagement $33,636$33,636
IX-11c Accounting feesManagement $8,278$8,278
IX-12 Advertising and promotionPrograms $728$728
IX-13 Office expensesPrograms $5,509$5,509
IX-14 Information technologyPrograms $6,475$6,475
IX-16 OccupancyPrograms $37,596$37,596
IX-19 Conferences, conventions and meetingsManagement $2,219$2,219
IX-20 InterestPrograms $96,918$96,918
IX-22 Depreciation, depletion and amortizationPrograms $48,559$48,559
IX-23 InsurancePrograms $56,772$56,772
IX-24 Other expenses (24a–d)Programs $183,594$183,594
IX-24e All other expensesPrograms $14,410$14,410
IX-25 Total functional expensesPrograms $450,561 · Management $44,133 · Fundraising $0$494,694
Part X · Balance sheet $696,280 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $32,568$15,840
X-4 Accounts receivableStart of year $3,123$1,545
X-9 Prepaid expenses and deferred chargesStart of year $9,624$13,072
X-10c Land, buildings and equipment, netStart of year $429,122$397,540
X-15 Other assetsStart of year $234,101$268,283
X-16 Total assetsStart of year $708,538$696,280
X-17 Accounts payable and accrued expensesStart of year $158,609$101,232
X-19 Deferred revenueStart of year $3,252$3,525
X-24 Unsecured notes and loans payableStart of year $1,198,752$1,112,505
X-25 Other liabilitiesStart of year $19,612$19,692
X-26 Total liabilitiesStart of year $1,380,225$1,236,954
X-27 Net assets without donor restrictionsStart of year −$671,687−$540,674
X-32 Total net assets or fund balancesStart of year −$671,687−$540,674
X-33 Total liabilities and net assetsStart of year $708,538$696,280
Part XI · Reconciliation of net assets −$540,674 net assets at year end
XI-1 Total revenue$625,707
XI-2 Total expenses$494,694
XI-3 Revenue less expenses$131,013
XI-4 Net assets at start of year−$671,687
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$540,674

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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