Keystone Housing Development Corporation

Tax-deductible

Philadelphia, PA501(c)(3)Since 2002HousingEIN 22-3864577

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Organized to acquire, rehabilitate, construct, own and operate affordable Housing project in philadelphia for the purposes of providing low income, safe, affordable and permanent Housing for the disabled as may be identified by federal, state or county officials.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
$971K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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
0 of 5
filings with a surplus
Average deficit $42K a year · 59% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$971K
to officers and key staff · 596% of spending
Top officer’s pay higher than 98% of similar orgs
Concern: pay to officers and key staff is 596% of spending; over 30%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$354K
76% of total assets
Worth a look: liabilities are 76% of assets; over 65%.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$87K
-11% vs prior year
Spent
$163K
To programs
93%
Net assets
$111K
By yearFY2020–FY2024
Revenue
$87K
FY2024▼ -11%
Revenue by fiscal year
FY2020$66K
FY2021$62K
FY2022$68K
FY2023$66K
FY2024$97K
FY2024$87K
Expenses
$163K
FY2024▲ +25%
Expenses by fiscal year
FY2020$91K
FY2021$109K
FY2022$119K
FY2023$122K
FY2024$131K
FY2024$163K
Net assets
$111K
FY2024▼ -41%
Net assets by fiscal year
FY2020$375K
FY2021$328K
FY2022$277K
FY2023$221K
FY2024$187K
FY2024$111K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2002.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $152K Management & general 7% · $11K

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

7 people listed on the 990; $971K paid to officers and key staff.

Part VII, Section A · reportable compensation
Chairperson
$328,568Pt VII · Sec A
President and Chief Executive Officer
$220,088Pt VII · Sec A
Vice President and Chief Financial Officer
$219,534Pt VII · Sec A
Vice President and Chief Operating Officer
$203,203Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Vice Chairperson
$0Pt VII · Sec A
Vice President and Assistant Secretary
$0Pt VII · Sec A

John Unger’s $329K as Chairperson is at the 98th percentile of top reported officer pay among 141 <$100K housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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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 15aYes

Programs and updates

Provides safe, affordable, permanent housing for disabled individuals in Philadelphia.

Provided by the organization

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1 program · $152K · in their own filed words · FY2024
01

Established to provide disabled persons with housing facilities and services designed to meet their physical, social and psychological needs. During the year ended 06/30/2025, the organization provided 11 housing units to disabled persons.

$152Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$87K
Ln 12
Fees for servicesLn 2g$87K
Investment incomeLn 3$132
Other incomeLn 4–11$1
Money outPt IX
$163K
Ln 25
Programscol B$152K
Managementcol C$11K
Owns and owesPt X
$111K
net assets · Ln 32
Cash and savingsLn 1–2$1K
Total assetsLn 16$465K
LiabilitiesLn 26$354K
PeoplePt VI, VII
7
listed · VII A
PaidVII A4
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$87K
Investment incomeLn 3$132
Other incomeLn 4–11$1
Total revenueLn 12$87K
Assets in detailPt X, end of year
CashLn 1$1K
Cash and savings togetherLn 1–2$1K
Land, buildings, equipmentLn 10c$402K
Other assetsLn 15$59K
Total assetsLn 16$465K
LiabilitiesLn 26$354K
Net assetsLn 32$111K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY24End FY24
Cash and savingsLn 1–2$2K$1K
Land, buildings, equipmentLn 10c$401K$402K
Total assetsLn 16$502K$465K
LiabilitiesLn 26$315K$354K
Net assetsLn 32$187K$111K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$32K$32K
Other employee benefitsLn 9$7K$7K
Payroll taxesLn 10$3K$3K
Management feesLn 11a$7K$7K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$150$150
OccupancyLn 16$28K$28K
Depreciation, depletion and amortizationLn 22$22K$22K
Other expenses (24a–d)Ln 24$53K$52K$564
Total functional expensesLn 25$163K$152K$11K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $97K$131K−$34K$187K 990 PDF
FY2023 $66K$122K−$56K$221K 990 PDF
FY2022 $68K$119K−$51K$277K 990 PDF
FY2021 $62K$109K−$47K$328K 990 PDF
FY2020 $66K$91K−$25K$375K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $86,709 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $86,576$86,576
VIII-3 Investment incomeExcluded from tax $132$132
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1$1
VIII-12 Total revenueRelated to mission $86,577 · Unrelated business $0 · Excluded from tax $132$86,709
Part IX · Statement of functional expenses $163,040 across 10 lines filed
IX-7 Other salaries and wagesPrograms $32,067$32,067
IX-9 Other employee benefitsPrograms $7,462$7,462
IX-10 Payroll taxesPrograms $2,762$2,762
IX-11a Management feesPrograms $7,259$7,259
IX-11b Legal feesPrograms $1,000$1,000
IX-11c Accounting feesManagement $10,176$10,176
IX-11g Other fees for servicesManagement $150$150
IX-16 OccupancyPrograms $27,731$27,731
IX-22 Depreciation, depletion and amortizationPrograms $21,862$21,862
IX-24 Other expenses (24a–d)Programs $52,007 · Management $564$52,571
IX-25 Total functional expensesPrograms $152,150 · Management $10,890 · Fundraising $0$163,040
Part X · Balance sheet $465,051 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $2,122$1,034
X-4 Accounts receivableStart of year $37,822$3,637
X-9 Prepaid expenses and deferred chargesStart of year $562$95
X-10c Land, buildings and equipment, netStart of year $401,476$401,612
X-15 Other assetsStart of year $59,990$58,673
X-16 Total assetsStart of year $501,972$465,051
X-17 Accounts payable and accrued expensesStart of year $311,947$351,334
X-19 Deferred revenueStart of year $531$359
X-25 Other liabilitiesStart of year $2,037$2,232
X-26 Total liabilitiesStart of year $314,515$353,925
X-27 Net assets without donor restrictionsStart of year −$710,346−$786,677
X-28 Net assets with donor restrictionsStart of year $897,803$897,803
X-32 Total net assets or fund balancesStart of year $187,457$111,126
X-33 Total liabilities and net assetsStart of year $501,972$465,051
Part XI · Reconciliation of net assets $111,126 net assets at year end
XI-1 Total revenue$86,709
XI-2 Total expenses$163,040
XI-3 Revenue less expenses−$76,331
XI-4 Net assets at start of year$187,457
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$111,126

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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