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Db Housing INC FY2021 filing

Tax-deductible

Dorchester, MA501(c)(3) EIN 22-3042334Revenue $4.2M in FY2021

On file with the IRSdbedc.org594 Columbia Road, 02125-3436 · Dorchester, MATax-exempt since Nov 1990Supporting organization — 509(a)(3)

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Low-income Housing development

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · 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
1 of 5
filings with a surplus
Average deficit $77K a year · 5% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% 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: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.1M
65% of total assets
Fine: liabilities are 65% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.2M
+350% vs prior year
Spent
$4.4M
To programs
94%
Net assets
$583K
By yearFY2020–FY2024
Revenue
$4.2M
FY2021▲ +350%
Tap a bar for its year
Revenue by fiscal year
FY2020$929K
FY2021$4.2M
FY2022$1.3M
FY2023$833K
FY2024$1.1M
Expenses
$4.4M
FY2021▲ +318%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$4.4M
FY2022$1.1M
FY2023$884K
FY2024$1.2M
Net assets
$583K
FY2021▼ -27%
Tap a bar for its year
Net assets by fiscal year
FY2020$801K
FY2021$583K
FY2022$1.0M
FY2023$956K
FY2024$813K

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1990.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $4.1M Management & general 6% · $260K

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

23 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Paul Black
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Rosalyn Johnson
Board Member
$0Pt VII · Sec A
Phil Hillman
Board Member
$0Pt VII · Sec A
Daryl Wright
Board Member
$0Pt VII · Sec A
Mary Walker
Board Member
$0Pt VII · Sec A
See Db Housing 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

Develops and rehabilitates real estate to create and preserve affordable housing and commercial spaces, improving neighborhoods and preventing displacement.

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Provided by the organization

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1 program · $4.1M · in their own filed words · FY2021
01

Project development acquires, constructs and redevelops real estate in our service area with the goal of reducing blight, improving the neighborhood, creating and preserving affordable housing, as well as commercial space that provides jobs, services and places for businesses to grow and thrive.

$4.1Mprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$4.2M
Ln 12
Fees for servicesLn 2g$3.9M
Gifts and grantsLn 1h$252K
Other incomeLn 4–11$5K
Money outPt IX
$4.4M
Ln 25
Programscol B$4.1M
Managementcol C$260K
Owns and owesPt X
$583K
net assets · Ln 32
Cash and savingsLn 1–2$336K
Total assetsLn 16$1.7M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
23
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$252K
Fees for servicesLn 2g$3.9M
Investment incomeLn 3$559
Other incomeLn 4–11$5K
Total revenueLn 12$4.2M
Assets in detailPt X, end of year
CashLn 1$293K
SavingsLn 2$44K
Cash and savings togetherLn 1–2$336K
InvestmentsLn 11–13$230K
Land, buildings, equipmentLn 10c$1.1M
Other assetsLn 15$30K
Total assetsLn 16$1.7M
LiabilitiesLn 26$1.1M
Net assetsLn 32$583K
OperationsPt I, VI
EmployeesI 50
VolunteersI 616
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$317K$336K
InvestmentsLn 11–13$485K$230K
Land, buildings, equipmentLn 10c$1.1M$1.1M
Total assetsLn 16$1.9M$1.7M
LiabilitiesLn 26$1.1M$1.1M
Net assetsLn 32$801K$583K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$617K$617K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$9K$9K
Other fees for servicesLn 11g$26K$26K
Office expensesLn 13$1K$1K
OccupancyLn 16$31K$31K
InterestLn 20$19K$19K
Payments to affiliatesLn 21$3.4M$3.4M
Depreciation, depletion and amortizationLn 22$29K$29K
InsuranceLn 23$23K$23K
Other expenses (24a–d)Ln 24$267K$15K$252K
Total functional expensesLn 25$4.4M$4.1M$260K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$1.2M−$143K$813K 990 PDF
FY2023 $833K$884K−$51K$956K 990 PDF
FY2022 $1.3M$1.1M$149K$1.0M 990 PDF
FY2021 Viewing $4.2M$4.4M−$218K$583K 990 PDF
FY2020 $929K$1.1M−$123K$801K 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 FY2021 990 (6 parts)
Part I · Summary $4,180,799 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $270,989$251,896
I-9 Program service revenuePrior year $656,712$3,923,245
I-10 Investment incomePrior year $1,151$559
I-11 Other revenuePrior year $0$5,099
I-12 Total revenuePrior year $928,852$4,180,799
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 $1,052,205$4,398,523
I-18 Total expensesPrior year $1,052,205$4,398,523
I-19 Revenue less expensesPrior year −$123,353−$217,724
Part VI · Governance 16 of 16 board members independent, 1 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $4,180,799 across 6 lines filed
VIII-1d Related organizations$251,896
VIII-1h Total contributions, gifts and grants$251,896
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,923,245$3,923,245
VIII-3 Investment incomeExcluded from tax $559$559
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $5,099$5,099
VIII-12 Total revenueRelated to mission $3,928,344 · Unrelated business $0 · Excluded from tax $559$4,180,799
Part IX · Statement of functional expenses $4,398,523 across 11 lines filed
IX-11a Management feesPrograms $617,073$617,073
IX-11b Legal feesPrograms $2,157$2,157
IX-11c Accounting feesManagement $8,600$8,600
IX-11g Other fees for servicesPrograms $25,678$25,678
IX-13 Office expensesPrograms $1,044$1,044
IX-16 OccupancyPrograms $30,549$30,549
IX-20 InterestPrograms $18,814$18,814
IX-21 Payments to affiliatesPrograms $3,375,218$3,375,218
IX-22 Depreciation, depletion and amortizationPrograms $29,318$29,318
IX-23 InsurancePrograms $22,997$22,997
IX-24 Other expenses (24a–d)Programs $15,179 · Management $251,896$267,075
IX-25 Total functional expensesPrograms $4,138,027 · Management $260,496 · Fundraising $0$4,398,523
Part X · Balance sheet $1,680,138 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $278,137$292,851
X-2 Savings and temporary cash investmentsStart of year $38,828$43,599
X-4 Accounts receivableStart of year $3,627$2,489
X-9 Prepaid expenses and deferred chargesStart of year $1,690$3,109
X-10c Land, buildings and equipment, netStart of year $1,107,221$1,077,903
X-13 Program-related investmentsStart of year $485,383$230,318
X-15 Other assetsStart of year $29,869$29,869
X-16 Total assetsStart of year $1,944,755$1,680,138
X-17 Accounts payable and accrued expensesStart of year $38,467$19,563
X-26 Total liabilitiesStart of year $1,143,956$1,097,063
X-27 Net assets without donor restrictionsStart of year $800,799$583,075
X-32 Total net assets or fund balancesStart of year $800,799$583,075
X-33 Total liabilities and net assetsStart of year $1,944,755$1,680,138
Part XI · Reconciliation of net assets $583,075 net assets at year end
XI-1 Total revenue$4,180,799
XI-2 Total expenses$4,398,523
XI-3 Revenue less expenses−$217,724
XI-4 Net assets at start of year$800,799
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$583,075

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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