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Db Housing INC FY2023 filing

Tax-deductible

Dorchester, MA501(c)(3) EIN 22-3042334Revenue $833K in FY2023

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.
75¢ 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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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
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
75%
of spending
Fine: 75% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 5.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$788K
45% of total assets
Looks good: liabilities are 45% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$833K
-33% vs prior year
Spent
$884K
To programs
75%
Net assets
$956K
By yearFY2020–FY2024
Revenue
$833K
FY2023▼ -33%
Tap a bar for its year
Revenue by fiscal year
FY2020$929K
FY2021$4.2M
FY2022$1.3M
FY2023$833K
FY2024$1.1M
Expenses
$884K
FY2023▼ -20%
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
$956K
FY2023▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020$801K
FY2021$583K
FY2022$1.0M
FY2023$956K
FY2024$813K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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

75 cents of each dollar spent went to programs.

Program services 75% · $661K Management & general 25% · $223K

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
Paul Black
President
$0Pt VII · Sec A
Leighton Richardson
Vice President
$0Pt VII · Sec A
Brian Welch
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Phil Hillman
Board Member
$0Pt VII · Sec A
Mary Walker
Board Member
$0Pt VII · Sec A
Eileen Kenner
Board Member
$0Pt VII · Sec A
Rosalyn Johnson
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 · $661K · in their own filed words · FY2023
01

Real estate development, including but not limited to project development, acquisition,construction, and redevelopment 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…

$661Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$833K
Ln 12
Fees for servicesLn 2g$615K
Gifts and grantsLn 1h$215K
Investment incomeLn 3$2K
Money outPt IX
$884K
Ln 25
Programscol B$661K
Managementcol C$223K
Owns and owesPt X
$956K
net assets · Ln 32
Cash and savingsLn 1–2$421K
Total assetsLn 16$1.7M
LiabilitiesLn 26$788K
PeoplePt VI, VII
23
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$215K
Fees for servicesLn 2g$615K
Investment incomeLn 3$2K
Other incomeLn 4–11$1K
Total revenueLn 12$833K
Assets in detailPt X, end of year
CashLn 1$372K
SavingsLn 2$49K
Cash and savings togetherLn 1–2$421K
InvestmentsLn 11–13$244K
Land, buildings, equipmentLn 10c$1.0M
Other assetsLn 15$10K
Total assetsLn 16$1.7M
LiabilitiesLn 26$788K
Net assetsLn 32$956K
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 FY23End FY23
Cash and savingsLn 1–2$178K$421K
InvestmentsLn 11–13$368K$244K
Land, buildings, equipmentLn 10c$1.1M$1.0M
Total assetsLn 16$1.6M$1.7M
LiabilitiesLn 26$640K$788K
Net assetsLn 32$1.0M$956K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$328K$328K
Legal feesLn 11b$6K$6K
Accounting feesLn 11c$9K$9K
Other fees for servicesLn 11g$11K$11K
Office expensesLn 13$7K$7K
OccupancyLn 16$68K$68K
InterestLn 20$3K$3K
Payments to affiliatesLn 21$183K$183K
Depreciation, depletion and amortizationLn 22$32K$32K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$230K$15K$215K
Total functional expensesLn 25$884K$661K$223K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$1.2M−$143K$813K 990 PDF
FY2023 Viewing $833K$884K−$51K$956K 990 PDF
FY2022 $1.3M$1.1M$149K$1.0M 990 PDF
FY2021 $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 FY2023 990 (6 parts)
Part I · Summary $832,659 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $170,084$214,789
I-9 Program service revenuePrior year $1,075,426$615,178
I-10 Investment incomePrior year $1,283$1,550
I-11 Other revenuePrior year $3,237$1,142
I-12 Total revenuePrior year $1,250,030$832,659
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 $1,100,664$884,080
I-18 Total expensesPrior year $1,100,664$884,080
I-19 Revenue less expensesPrior year $149,366−$51,421
Part VI · Governance 14 of 14 board members independent, 1 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
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 $832,659 across 6 lines filed
VIII-1d Related organizations$214,789
VIII-1h Total contributions, gifts and grants$214,789
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $615,178$615,178
VIII-3 Investment incomeExcluded from tax $1,550$1,550
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,142$1,142
VIII-12 Total revenueRelated to mission $616,320 · Unrelated business $0 · Excluded from tax $1,550$832,659
Part IX · Statement of functional expenses $884,080 across 11 lines filed
IX-11a Management feesPrograms $328,191$328,191
IX-11b Legal feesPrograms $5,560$5,560
IX-11c Accounting feesManagement $8,600$8,600
IX-11g Other fees for servicesPrograms $11,343$11,343
IX-13 Office expensesPrograms $6,553$6,553
IX-16 OccupancyPrograms $68,381$68,381
IX-20 InterestPrograms $2,727$2,727
IX-21 Payments to affiliatesPrograms $182,516$182,516
IX-22 Depreciation, depletion and amortizationPrograms $32,251$32,251
IX-23 InsurancePrograms $7,944$7,944
IX-24 Other expenses (24a–d)Programs $15,225 · Management $214,789$230,014
IX-25 Total functional expensesPrograms $660,691 · Management $223,389 · Fundraising $0$884,080
Part X · Balance sheet $1,743,709 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $125,630$372,138
X-2 Savings and temporary cash investmentsStart of year $52,433$49,272
X-4 Accounts receivableStart of year $15,918$24,573
X-9 Prepaid expenses and deferred chargesStart of year $2,119$4,551
X-10c Land, buildings and equipment, netStart of year $1,061,338$1,038,917
X-13 Program-related investmentsStart of year $367,953$244,389
X-15 Other assetsStart of year $21,669$9,869
X-16 Total assetsStart of year $1,647,060$1,743,709
X-17 Accounts payable and accrued expensesStart of year $30,386$37,798
X-25 Other liabilitiesStart of year $0$176,947
X-26 Total liabilitiesStart of year $639,628$787,698
X-27 Net assets without donor restrictionsStart of year $1,007,432$956,011
X-32 Total net assets or fund balancesStart of year $1,007,432$956,011
X-33 Total liabilities and net assetsStart of year $1,647,060$1,743,709
Part XI · Reconciliation of net assets $956,011 net assets at year end
XI-1 Total revenue$832,659
XI-2 Total expenses$884,080
XI-3 Revenue less expenses−$51,421
XI-4 Net assets at start of year$1,007,432
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$956,011

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

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