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Sheraden Park Development INC FY2020 filing

Not tax-deductible

Pittsburgh, PA501(c)(4)Housing EIN 25-1145815Revenue $1.2M in FY2020

On file with the IRS3702 Allendale Cir, 15204-1206 · Pittsburgh, PATax-exempt since Sep 2021

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Sheraden Park Development, INC. Is a pennsylvania nonprofit corporation providing 188 affordable co-operative housing units along with community facilities to members on a non-profit basis. The property is situated on allendale circle in the city of pittsburgh. Roads are maintained by the city of pittsburgh and playgrounds are open to the community.

501(c)(4) social-welfare organization; gifts are not tax-deductible as charitable contributions.
86¢ 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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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
4 of 5
filings with a surplus
Average surplus $82K a year · 7% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$148K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 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
Spent
$1.1M
To programs
86%
Net assets
$2.0M
By yearFY2020–FY2024
Revenue
$1.2M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2021$1.2M
FY2022$1.2M
FY2023$1.3M
FY2024$1.3M
Expenses
$1.1M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$1.2M
FY2022$1.2M
FY2023$1.2M
FY2024$1.1M
Net assets
$2.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$2.0M
FY2021$2.1M
FY2022$2.0M
FY2023$2.2M
FY2024$2.4M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 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 Sep 2021.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $991K Management & general 14% · $159K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Leslie Beck
Vice Preside
$0Pt VII · Sec A
Linda Conley
Secretary
$0Pt VII · Sec A
Pat Woods
Assistant Se
$0Pt VII · Sec A
Jack Kudrav
Treasurer
$0Pt VII · Sec A
See Sheraden Park Development 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 co-op housing and community facilities for members.

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2 programs · $991K · in their own filed words · FY2020
01

The co-operative is funded by monthly carrying charges due on the first of the month by members of the cooperative corporation as defined in the occupancy agreement. Such charges are based on the size of the unit currently ranging from 488 to 536 monthly.

$961Kprogram expense
02

If a member desires to leave the project, he is to notify the co-op in writing and the co-op has a thirty day option to purchase the membership. In such case, the co-op will make necessary repairs and resell the membership.

$29Kprogram expense

By the numbers

The FY2020 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
Other incomeLn 4–11$19K
Investment incomeLn 3$209
Money outPt IX
$1.1M
Ln 25
Programscol B$991K
Managementcol C$159K
Owns and owesPt X
$2.0M
net assets · Ln 32
Cash and savingsLn 1–2$308K
Total assetsLn 16$2.2M
LiabilitiesLn 26$148K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$209
Other incomeLn 4–11$19K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$129K
SavingsLn 2$179K
Cash and savings togetherLn 1–2$308K
Land, buildings, equipmentLn 10c$1.9M
Other assetsLn 15$15K
Total assetsLn 16$2.2M
LiabilitiesLn 26$148K
Net assetsLn 32$2.0M
OperationsPt I, VI
EmployeesI 55
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 FY20End FY20
Cash and savingsLn 1–2$240K$308K
Land, buildings, equipmentLn 10c$1.9M$1.9M
Total assetsLn 16$2.1M$2.2M
LiabilitiesLn 26$184K$148K
Net assetsLn 32$2.0M$2.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$173K$171K$2K
Other employee benefitsLn 9$16K$16K
Payroll taxesLn 10$10K$10K
Management feesLn 11a$101K$101K
Accounting feesLn 11c$18K$18K
Other fees for servicesLn 11g$9K$9K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$18K$18K
Information technologyLn 14$6K$6K
OccupancyLn 16$600K$600K
Conferences, conventions and meetingsLn 19$183$183
InterestLn 20$1K$1K
Depreciation, depletion and amortizationLn 22$115K$115K
InsuranceLn 23$77K$77K
Total functional expensesLn 25$1.1M$991K$159K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.3M$1.1M$236K$2.4M 990 PDF
FY2023 $1.3M$1.2M$111K$2.2M 990 PDF
FY2022 $1.2M$1.2M−$3K$2.0M 990 PDF
FY2021 $1.2M$1.2M$25K$2.1M 990 PDF
FY2020 Viewing $1.2M$1.1M$40K$2.0M 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 FY2020 990 (6 parts)
Part I · Summary $1,190,159 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$1,170,845
I-10 Investment income$209
I-11 Other revenue$19,105
I-12 Total revenue$1,190,159
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$198,697
I-16a Professional fundraising fees$0
I-17 Other expenses$951,181
I-18 Total expenses$1,149,878
I-19 Revenue less expenses$40,281
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $1,190,159 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,170,845$1,170,845
VIII-3 Investment incomeExcluded from tax $209$209
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $19,105$19,105
VIII-12 Total revenueRelated to mission $1,170,845 · Excluded from tax $19,314$1,190,159
Part IX · Statement of functional expenses $1,149,878 across 14 lines filed
IX-7 Other salaries and wagesPrograms $171,358 · Management $1,681$173,039
IX-9 Other employee benefitsPrograms $15,594$15,594
IX-10 Payroll taxesPrograms $10,064$10,064
IX-11a Management feesManagement $100,921$100,921
IX-11c Accounting feesManagement $18,200$18,200
IX-11g Other fees for servicesManagement $9,437$9,437
IX-12 Advertising and promotionManagement $4,211$4,211
IX-13 Office expensesManagement $18,437$18,437
IX-14 Information technologyManagement $6,297$6,297
IX-16 OccupancyPrograms $600,320$600,320
IX-19 Conferences, conventions and meetingsManagement $183$183
IX-20 InterestPrograms $1,267$1,267
IX-22 Depreciation, depletion and amortizationPrograms $114,790$114,790
IX-23 InsurancePrograms $77,118$77,118
IX-25 Total functional expensesPrograms $990,511 · Management $159,367 · Fundraising $0$1,149,878
Part X · Balance sheet $2,193,065 assets, 12 lines filed
Asset lines not itemized here account for $75; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $98,740$128,991
X-2 Savings and temporary cash investmentsStart of year $141,121$179,071
X-4 Accounts receivableStart of year $10,925$7,839
X-10c Land, buildings and equipment, netStart of year $1,860,583$1,862,109
X-15 Other assetsStart of year $28,387$14,980
X-16 Total assetsStart of year $2,139,756$2,193,065
X-17 Accounts payable and accrued expensesStart of year $38,729$52,798
X-24 Unsecured notes and loans payableStart of year $45,636$10,496
X-25 Other liabilitiesStart of year $99,189$84,840
X-26 Total liabilitiesStart of year $183,554$148,134
X-32 Total net assets or fund balancesStart of year $1,956,202$2,044,931
X-33 Total liabilities and net assetsStart of year $2,139,756$2,193,065
Part XI · Reconciliation of net assets $2,044,931 net assets at year end
XI-1 Total revenue$1,190,159
XI-2 Total expenses$1,149,878
XI-3 Revenue less expenses$40,281
XI-4 Net assets at start of year$1,956,202
XI-9 Other changes in net assets$48,448
XI-10 Net assets at end of year$2,044,931

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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