Bethany Development Corporation

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Housing and related support services for low income, disabled and elderly individuals.

Form 990 Part I, line 1, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 23-2078064) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Run by 18 volunteers and 12 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
The latest return is for FY2024, 2 tax years back.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $168K a year · 11% of revenue · last 5 filings
A surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
89% of spending went to programs.
Pt IX · Ln 25 · col B
1.9 mo
of spending, in cash
1.9 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.1M
29% of total assets
Liabilities are 29% of assets.
Pt X · Ln 26
Independent board members
8
of 8 voting members
8 of 8 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$1.6M
+11% vs prior year
Spent
$1.3M
To programs
89%
Net assets
$2.7M
By yearFY2020–FY2024
Revenue
$1.6M
FY2024▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$1.4M
FY2022$1.5M
FY2023$1.5M
FY2024$1.6M
Expenses
$1.3M
FY2024▼ -5%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$1.3M
FY2022$1.3M
FY2023$1.4M
FY2024$1.3M
Net assets
$2.7M
FY2024▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.0M
FY2021$2.1M
FY2022$2.3M
FY2023$2.4M
FY2024$2.7M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2009.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $1.2M Management & general 11% · $140K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice-President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Trustee (thru 12/31/24)
$0Pt VII · Sec A
See Bethany Development Corporation executive salaries →

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

Provides housing and support services for low-income, disabled, and elderly individuals.

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1 program · $1.2M · in their own filed words · FY2024
01

Bethany Development is a multi-unit rental project of hud (149 units) for the purpose of providing housing and related facilities and services to low-income, disabled and elderly individuals and families.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 23-2078064) · Dispute this line
$1.2Mprogram expense

Funders

Who pays for it.

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

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Dec 2025 · $1.9M federal money spent
Section 8 Housing Assistance Payments ProgramDepartment of Housing and Urban Development · ALN 14.195 · Direct$1.4M
Project Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing ProjectsDepartment of Housing and Urban Development · ALN 14.155 · Direct$526K

The auditor reported no findings.

Year ending Dec 2024 · $1.5M federal money spent
Section 8 Housing Assistance Payments ProgramDepartment of Housing and Urban Development · ALN 14.195 · Direct$789K
Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing ProjectsDepartment of Housing and Urban Development · ALN 14.155 · Direct$693K

The auditor reported no findings.

Year ending Dec 2023 · $1.6M federal money spent
Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing ProjectsDepartment of Housing and Urban Development · ALN 14.155 · Direct$855K
Section 8 Housing Assistance Payments ProgramDepartment of Housing and Urban Development · ALN 14.195 · Direct$721K

The auditor reported no findings.

Year ending Dec 2022 · $1.8M federal money spent
Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing ProjectsDepartment of Housing and Urban Development · ALN 14.155 · Direct$1.0M
Section 8 Housing Assistance Payments ProgramDepartment of Housing and Urban Development · ALN 14.195 · Direct$760K

The auditor reported no findings.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$789K
Fees for servicesLn 2g$786K
Other incomeLn 4–11$35K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.2M
Managementcol C$140K
Owns and owesPt X
$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$205K
Total assetsLn 16$3.7M
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$789K
Government grantsLn 1e$789K
Fees for servicesLn 2g$786K
Investment incomeLn 3$14K
Other incomeLn 4–11$35K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$205K
Cash and savings togetherLn 1–2$205K
Accounts receivableLn 4$4K
Prepaid expenses and deferred chargesLn 9$15K
Land, buildings, equipmentLn 10c$939K
Other assetsLn 15$2.6M
Total assetsLn 16$3.7M
LiabilitiesLn 26$1.1M
Net assetsLn 32$2.7M
OperationsPt I, VI
EmployeesI 512
VolunteersI 618
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$177K$205K
Land, buildings, equipmentLn 10c$799K$939K
Total assetsLn 16$3.3M$3.7M
LiabilitiesLn 26$956K$1.1M
Net assetsLn 32$2.4M$2.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$88K$88K
Other fees for servicesLn 11g$5K$5K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$90K$90K
OccupancyLn 16$219K$219K
Conferences, conventions and meetingsLn 19$5K$5K
InterestLn 20$25K$25K
Depreciation, depletion and amortizationLn 22$64K$64K
InsuranceLn 23$58K$58K
Other expenses (24a–d)Ln 24$770K$729K$41K
Total functional expensesLn 25$1.3M$1.2M$140K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Aug 18, 2025 $1.6M$1.3M$300K$2.7M 990 PDF
FY2023Filed with the IRS Aug 22, 2024 $1.5M$1.4M$78K$2.4M 990 PDF
FY2022Filed with the IRS Sep 27, 2023 $1.5M$1.3M$212K$2.3M 990 PDF
FY2021Filed with the IRS Nov 15, 2022 $1.4M$1.3M$103K$2.1M 990 PDF
FY2020Filed with the IRS Nov 5, 2021 $1.4M$1.2M$147K$2.0M 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2024 990
Part I · Summary $1,624,716 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $720,993$789,416
I-9 Program service revenuePrior year $703,354$786,174
I-10 Investment incomePrior year $11,960$13,956
I-11 Other revenuePrior year $33,306$35,170
I-12 Total revenuePrior year $1,469,613$1,624,716
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 $1,391,494$1,325,124
I-18 Total expensesPrior year $1,391,494$1,325,124
I-19 Revenue less expensesPrior year $78,119$299,592
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $1,624,716 across 6 lines filed
VIII-1e Government grants$789,416
VIII-1h Total contributions, gifts and grants$789,416
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $786,174$786,174
VIII-3 Investment incomeExcluded from tax $13,956$13,956
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $35,170$35,170
VIII-12 Total revenueRelated to mission $821,344 · Unrelated business $0 · Excluded from tax $13,956$1,624,716
Part IX · Statement of functional expenses $1,325,124 across 10 lines filed
IX-11a Management feesManagement $88,104$88,104
IX-11g Other fees for servicesManagement $5,450$5,450
IX-12 Advertising and promotionPrograms $1,104$1,104
IX-13 Office expensesPrograms $90,458$90,458
IX-16 OccupancyPrograms $218,531$218,531
IX-19 Conferences, conventions and meetingsManagement $4,920$4,920
IX-20 InterestPrograms $24,782$24,782
IX-22 Depreciation, depletion and amortizationPrograms $64,008$64,008
IX-23 InsurancePrograms $57,938$57,938
IX-24 Other expenses (24a–d)Programs $728,695 · Management $41,134$769,829
IX-25 Total functional expensesPrograms $1,185,516 · Management $139,608 · Fundraising $0$1,325,124
Part X · Balance sheet $3,748,564 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $176,778$205,194
X-4 Accounts receivableStart of year $6,631$4,302
X-9 Prepaid expenses and deferred chargesStart of year $5,019$15,285
X-10c Land, buildings and equipment, netStart of year $799,374$938,587
X-15 Other assetsStart of year $2,321,246$2,585,196
X-16 Total assetsStart of year $3,309,048$3,748,564
X-17 Accounts payable and accrued expensesStart of year $219,583$530,554
X-19 Deferred revenueStart of year $14,059$406
X-23 Secured mortgages and notes payableStart of year $667,247$507,098
X-25 Other liabilitiesStart of year $54,632$57,387
X-26 Total liabilitiesStart of year $955,521$1,095,445
X-27 Net assets without donor restrictionsStart of year $2,353,527$2,653,119
X-32 Total net assets or fund balancesStart of year $2,353,527$2,653,119
X-33 Total liabilities and net assetsStart of year $3,309,048$3,748,564
Part XI · Reconciliation of net assets $2,653,119 net assets at year end
XI-1 Total revenue$1,624,716
XI-2 Total expenses$1,325,124
XI-3 Revenue less expenses$299,592
XI-4 Net assets at start of year$2,353,527
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,653,119

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

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