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Scottish Rite Tower Development Corporation FY2023 filing

Tax-deductible

Duarte, CA501(c)(3)HousingEIN 23-2741112Revenue $1.2M in FY2023

On file with the IRS1900 Huntington Dr, 91010-2694 · Duarte, CATax-exempt since Jan 1994Publicly supported charity — 170(b)(1)(A)(vi)

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Scottish Rite Tower Development Corporation owns and operates a 107 unit apartment project for low and moderate income senior citizens and handicapped persons. The project is operated under section 202 of the national housing act and regulated by the u.s. Department of housing and urban Development.

501(c)(3) charity; gifts are tax-deductible.
79¢ 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
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
0 of 6
filings with a surplus
Average deficit $423K a year · 35% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Plus $167K in investments, Pt X · Ln 11–13
Fine: 0.9 months of spending in cash, plus $167K in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$235K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+0.7% vs prior year
Spent
$1.7M
To programs
79%
Net assets
$3.8M
By yearFY2020–FY2025
Revenue
$1.2M
FY2023▲ +0.7%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$1.2M
FY2022$1.2M
FY2023$1.2M
FY2024$1.3M
FY2025$1.3M
Expenses
$1.7M
FY2023▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.6M
FY2021$1.6M
FY2022$1.6M
FY2023$1.7M
FY2024$1.7M
FY2025$1.6M
Net assets
$3.8M
FY2023▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.2M
FY2021$4.7M
FY2022$4.3M
FY2023$3.8M
FY2024$3.3M
FY2025$3.0M

From the FY2023 Form 990 (year ending March 2023) · figures checked against the IRS filing · 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 Jan 1994.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $1.3M Management & general 21% · $349K

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

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Melvin J Bazemore
Chairman & C
$0Pt VII · Sec A
Sidney Broadnax
Vice Chairma
$0Pt VII · Sec A
Edward Brooks
Secretary
$0Pt VII · Sec A
Ivory M Buck
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Roy Mays
Director
$0Pt VII · Sec A
See Scottish Rite Tower Development Corporation 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 15aYes

Programs and updates

Provides affordable apartments for low-income seniors and handicapped individuals.

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Provided by the organization

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1 program · $1.3M · in their own filed words · FY2022
01

Successfully provided affordable housing to low to moderate income senior citizens and handicapped residents for 107 units.

$1.3Mprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$3K
Other incomeLn 4–11$894
Money outPt IX
$1.7M
Ln 25
Programscol B$1.3M
Managementcol C$349K
Owns and owesPt X
$3.8M
net assets · Ln 32
Cash and savingsLn 1–2$126K
Total assetsLn 16$4.0M
LiabilitiesLn 26$235K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$3K
Other incomeLn 4–11$894
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$44K
SavingsLn 2$82K
Cash and savings togetherLn 1–2$126K
InvestmentsLn 11–13$167K
Land, buildings, equipmentLn 10c$3.7M
Other assetsLn 15$4K
Total assetsLn 16$4.0M
LiabilitiesLn 26$235K
Net assetsLn 32$3.8M
OperationsPt I, VI
EmployeesI 56
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aNo
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$188K$126K
InvestmentsLn 11–13$184K$167K
Land, buildings, equipmentLn 10c$4.1M$3.7M
Total assetsLn 16$4.5M$4.0M
LiabilitiesLn 26$177K$235K
Net assetsLn 32$4.3M$3.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$391K$220K$172K
Pension plan contributionsLn 8$10K$10K
Other employee benefitsLn 9$55K$55K
Payroll taxesLn 10$24K$24K
Management feesLn 11a$76K$76K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$29K$29K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$54K$54K
OccupancyLn 16$179K$166K$13K
Conferences, conventions and meetingsLn 19$218$218
Depreciation, depletion and amortizationLn 22$497K$497K
InsuranceLn 23$118K$118K
Other expenses (24a–d)Ln 24$206K$206K
All other expensesLn 24e$35K$33K$2K
Total functional expensesLn 25$1.7M$1.3M$349K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.3M$1.6M−$322K$3.0M 990 PDF
FY2024 $1.3M$1.7M−$413K$3.3M 990 PDF
FY2023 Viewing $1.2M$1.7M−$507K$3.8M 990 PDF
FY2022 $1.2M$1.6M−$442K$4.3M 990 PDF
FY2021 $1.2M$1.6M−$423K$4.7M 990 PDF
FY2020 $1.1M$1.6M−$434K$5.2M 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 $1,172,344 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,776$0
I-9 Program service revenuePrior year $1,153,906$1,168,032
I-10 Investment incomePrior year $3,568$3,418
I-11 Other revenuePrior year $1,291$894
I-12 Total revenuePrior year $1,164,541$1,172,344
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $468,310$480,460
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,137,846$1,198,919
I-18 Total expensesPrior year $1,606,156$1,679,379
I-19 Revenue less expensesPrior year −$441,615−$507,035
Part VI · Governance 15 of 15 board members independent, 3 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,172,344 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,168,032$1,168,032
VIII-3 Investment incomeExcluded from tax $3,418$3,418
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $894$894
VIII-12 Total revenueRelated to mission $1,168,032 · Excluded from tax $4,312$1,172,344
Part IX · Statement of functional expenses $1,679,379 across 15 lines filed
IX-7 Other salaries and wagesPrograms $219,971 · Management $171,526$391,497
IX-8 Pension plan contributionsPrograms $9,671$9,671
IX-9 Other employee benefitsPrograms $55,392$55,392
IX-10 Payroll taxesPrograms $23,900$23,900
IX-11a Management feesManagement $76,077$76,077
IX-11b Legal feesManagement $2,607$2,607
IX-11c Accounting feesManagement $29,037$29,037
IX-12 Advertising and promotionManagement $1,170$1,170
IX-13 Office expensesManagement $53,997$53,997
IX-16 OccupancyPrograms $166,496 · Management $12,989$179,485
IX-19 Conferences, conventions and meetingsManagement $218$218
IX-22 Depreciation, depletion and amortizationPrograms $497,348$497,348
IX-23 InsurancePrograms $118,394$118,394
IX-24 Other expenses (24a–d)Programs $205,963$205,963
IX-24e All other expensesPrograms $32,925 · Management $1,698$34,623
IX-25 Total functional expensesPrograms $1,330,060 · Management $349,319 · Fundraising $0$1,679,379
Part X · Balance sheet $3,985,705 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $55,773$43,947
X-2 Savings and temporary cash investmentsStart of year $132,023$81,852
X-4 Accounts receivableStart of year $1,780$2,174
X-9 Prepaid expenses and deferred chargesStart of year $7,427$7,193
X-10c Land, buildings and equipment, netStart of year $4,066,155$3,679,664
X-13 Program-related investmentsStart of year $183,936$167,270
X-15 Other assetsStart of year $5,807$3,605
X-16 Total assetsStart of year $4,452,901$3,985,705
X-17 Accounts payable and accrued expensesStart of year $136,073$198,781
X-19 Deferred revenueStart of year $3,003$2,558
X-25 Other liabilitiesStart of year $37,973$33,689
X-26 Total liabilitiesStart of year $177,049$235,028
X-27 Net assets without donor restrictionsStart of year $4,275,852$3,750,677
X-32 Total net assets or fund balancesStart of year $4,275,852$3,750,677
X-33 Total liabilities and net assetsStart of year $4,452,901$3,985,705
Part XI · Reconciliation of net assets $3,750,677 net assets at year end
XI-1 Total revenue$1,172,344
XI-2 Total expenses$1,679,379
XI-3 Revenue less expenses−$507,035
XI-4 Net assets at start of year$4,275,852
XI-5 Net unrealized gains (losses) on investments−$18,140
XI-10 Net assets at end of year$3,750,677

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

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