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McCormick County Housing for Aging INC

Tax-deductible

McCormick, SC501(c)(3)EIN 23-7377946Revenue $750K in FY2024

On file with the IRS21 Wright Street, 29835-0000 · McCormick, SCTax-exempt since May 1974Publicly supported — 509(a)(2)

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McCormick County Housing for the Aging, INC., a south carolina not-for-profit corporation, was incorporated on april 1, 1974, and is a tax exempt organization under section 501(c)(3) of the internal revenue code. The corporation was formed to construct, own, and operate apartment communities pursuant to sections 515(b) and 521(a) of the national Housing act, as amended. The corporation operates cherry valley (a 24 unit complex), cherry manor (a 20 unit complex) and westowne (a 40 unit complex), all located in McCormick, south carolina. Mortgage loans are provided by rural development, department of agriculture, under section 515(b) and 521(a) of the national Housing act. In addition, the corporation has entered into Housing assistance payment contracts (hap) with the department of Housing and urban development.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
5 of 5
filings with a surplus
Average surplus $97K a year · 13% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$511K
35% of total assets
Looks good: liabilities are 35% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$750K
-3% vs prior year
Spent
$689K
To programs
89%
Net assets
$942K
By yearFY2020–FY2024
Revenue
$750K
FY2024▼ -3%
Tap a bar for its year
Revenue by fiscal year
FY2020$727K
FY2021$740K
FY2022$804K
FY2023$775K
FY2024$750K
Expenses
$689K
FY2024▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$675K
FY2021$702K
FY2022$615K
FY2023$633K
FY2024$689K
Net assets
$942K
FY2024▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$512K
FY2021$550K
FY2022$739K
FY2023$880K
FY2024$942K

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

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1974.

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% · $610K Management & general 11% · $79K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
Oscar New
President
$0Pt VII · Sec A
Kasandra M Harper
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Angela Martin
Assistant Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See McCormick County Housing for Aging 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

Provides affordable apartment communities for seniors.

Questions for McCormick County Housing for Aging INC

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1 program · $610K · in their own filed words · FY2024
01

Mccormick county housing for the aging, inc., a south carolina not-for-profit corporation, was incorporated on april 1, 1974, and is a tax exempt organization under section 501(c)(3) of the internal revenue code.

$610Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$750K
Ln 12
Gifts and grantsLn 1h$616K
Fees for servicesLn 2g$133K
Other incomeLn 4–11$1K
Money outPt IX
$689K
Ln 25
Programscol B$610K
Managementcol C$79K
Owns and owesPt X
$942K
net assets · Ln 32
Cash and savingsLn 1–2$349K
Total assetsLn 16$1.5M
LiabilitiesLn 26$511K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$616K
Government grantsLn 1e$616K
Fees for servicesLn 2g$133K
Investment incomeLn 3$149
Other incomeLn 4–11$1K
Total revenueLn 12$750K
Assets in detailPt X, end of year
CashLn 1$349K
Cash and savings togetherLn 1–2$349K
InvestmentsLn 11–13$385K
Land, buildings, equipmentLn 10c$580K
Other assetsLn 15$18K
Total assetsLn 16$1.5M
LiabilitiesLn 26$511K
Net assetsLn 32$942K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$384K$349K
InvestmentsLn 11–13$353K$385K
Land, buildings, equipmentLn 10c$612K$580K
Total assetsLn 16$1.5M$1.5M
LiabilitiesLn 26$585K$511K
Net assetsLn 32$880K$942K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$64K$64K
Accounting feesLn 11c$11K$11K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$28K$28K
OccupancyLn 16$435K$435K
Depreciation, depletion and amortizationLn 22$48K$48K
InsuranceLn 23$29K$29K
Other expenses (24a–d)Ln 24$70K$70K
Total functional expensesLn 25$689K$610K$79K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $750K$689K$62K$942K 990 PDF
FY2023 $775K$633K$141K$880K 990 PDF
FY2022 $804K$615K$189K$739K 990 PDF
FY2021 $740K$702K$38K$550K 990 PDF
FY2020 $727K$675K$52K$512K 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 FY2024 990 (6 parts)
Part I · Summary $750,267 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $622,924$616,032
I-9 Program service revenuePrior year $140,591$132,837
I-10 Investment incomePrior year $70$149
I-11 Other revenuePrior year $10,979$1,249
I-12 Total revenuePrior year $774,564$750,267
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 $633,274$688,585
I-18 Total expensesPrior year $633,274$688,585
I-19 Revenue less expensesPrior year $141,290$61,682
Part VI · Governance 10 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $750,267 across 6 lines filed
VIII-1e Government grants$616,032
VIII-1h Total contributions, gifts and grants$616,032
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $132,837$132,837
VIII-3 Investment incomeExcluded from tax $149$149
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,249$1,249
VIII-12 Total revenueRelated to mission $132,837 · Unrelated business $0 · Excluded from tax $1,398$750,267
Part IX · Statement of functional expenses $688,585 across 8 lines filed
IX-11a Management feesManagement $64,192$64,192
IX-11c Accounting feesManagement $10,830$10,830
IX-12 Advertising and promotionManagement $3,924$3,924
IX-13 Office expensesPrograms $28,108$28,108
IX-16 OccupancyPrograms $434,608$434,608
IX-22 Depreciation, depletion and amortizationPrograms $48,111$48,111
IX-23 InsurancePrograms $28,859$28,859
IX-24 Other expenses (24a–d)Programs $69,953$69,953
IX-25 Total functional expensesPrograms $609,639 · Management $78,946 · Fundraising $0$688,585
Part X · Balance sheet $1,452,723 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $383,961$348,651
X-4 Accounts receivableStart of year $43,588$56,408
X-9 Prepaid expenses and deferred chargesStart of year $58,353$63,991
X-10c Land, buildings and equipment, netStart of year $612,426$580,324
X-13 Program-related investmentsStart of year $352,508$385,027
X-15 Other assetsStart of year $15,084$18,322
X-16 Total assetsStart of year $1,465,920$1,452,723
X-17 Accounts payable and accrued expensesStart of year $2,617$2,655
X-19 Deferred revenueStart of year $2,159$3,817
X-25 Other liabilitiesStart of year $17,176$18,425
X-26 Total liabilitiesStart of year $585,432$510,553
X-27 Net assets without donor restrictionsStart of year $880,488$942,170
X-32 Total net assets or fund balancesStart of year $880,488$942,170
X-33 Total liabilities and net assetsStart of year $1,465,920$1,452,723
Part XI · Reconciliation of net assets $942,170 net assets at year end
XI-1 Total revenue$750,267
XI-2 Total expenses$688,585
XI-3 Revenue less expenses$61,682
XI-4 Net assets at start of year$880,488
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$942,170

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

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