Stoneboro Development Corporation: FY2024 Nonprofit Profile & Form 990 (EIN 25-1419863)

Revenue by fiscal year
FY2021	$395K
FY2022	$369K
FY2023	$456K
FY2024	$462K
FY2025	$453K

Expenses by fiscal year
FY2021	$423K
FY2022	$421K
FY2023	$468K
FY2024	$402K
FY2025	$433K

Net assets by fiscal year
FY2021	−$1.2M
FY2022	−$1.3M
FY2023	−$1.3M
FY2024	−$1.2M
FY2025	−$1.2M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1988.

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

Where the money goes

96 cents of each dollar spent went to programs.

96%

Program services 96% · $386K Management & general 4% · $16K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII

Elena Reither

President

$0Pt VII · Sec A

Patricia Henry

Vice President

$0Pt VII · Sec A

Janet Pratt

Treasurer

$0Pt VII · Sec A

Melissa Johnson

Secretary

$0Pt VII · Sec A

William Everall

Director

$0Pt VII · Sec A

See Stoneboro 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 subsidized housing for low-income seniors.

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1 program · $386K · in their own filed words · FY2023

01

Stoneboro development corporation D/B/A lakeview manor (corporation) operates a 50-UNIT apartment complex located in mercer county, pennsylvania under section 202 of the national housing act (act), which provides housing for low income elderly individuals. The corporation is regulated by the U.S.

$386Kprogram 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 Jun 2026 · $1.7M federal money spent

Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing ProjectsDepartment of Housing and Urban Development · ALN 14.155 · Direct$1.4M

Project-Based Rental Assistance (pbra)Department of Housing and Urban Development · ALN 14.195 · Direct$291K

The auditor reported 2 findings: a weakness in money controls, questioned costs.

Year ending Jun 2025 · $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$1.5M

Project-Based Rental Assistance (pbra)Department of Housing and Urban Development · ALN 14.195 · Direct$253K

The auditor reported 1 finding: doubt the group can keep going, questioned costs.

Year ending Jun 2024 · $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$1.6M

Project-Based Rental Assistance (pbra)Department of Housing and Urban Development · ALN 14.195 · Direct$240K

The auditor reported 2 findings: doubt the group can keep going, questioned costs.

Year ending Jun 2023 · $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$1.6M

Project-Based Rental Assistance (pbra)Department of Housing and Urban Development · ALN 14.195 · Direct$234K

The auditor reported 6 findings: doubt the group can keep going, a material weakness in money controls, questioned costs.

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$462K

Ln 12

Gifts and grantsLn 1h$230K

Fees for servicesLn 2g$221K

Other incomeLn 4–11$11K

Money outPt IX

$402K

Ln 25

Programscol B$386K

Managementcol C$16K

Owns and owesPt X

−$1.2M

net assets · Ln 32

Cash and savingsLn 1–2$32K

Total assetsLn 16$466K

LiabilitiesLn 26$1.7M

PeoplePt VI, VII

5

listed · VII A

PaidVII A0

Voting boardVI 1a5

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$230K

Government grantsLn 1e$230K

Fees for servicesLn 2g$221K

Investment incomeLn 3$320

Other incomeLn 4–11$11K

Total revenueLn 12$462K

Assets in detailPt X, end of year

CashLn 1$32K

Cash and savings togetherLn 1–2$32K

Land, buildings, equipmentLn 10c$331K

Other assetsLn 15$60K

Total assetsLn 16$466K

LiabilitiesLn 26$1.7M

Net assetsLn 32−$1.2M

OperationsPt I, VI

EmployeesI 50

VolunteersI 65

Fiscal year endsHeaderJune

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$3K	$32K
Land, buildings, equipmentLn 10c	$374K	$331K
Total assetsLn 16	$493K	$466K
LiabilitiesLn 26	$1.8M	$1.7M
Net assetsLn 32	−$1.3M	−$1.2M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Management feesLn 11a	$29K	$29K
Legal feesLn 11b	$195	$195
Accounting feesLn 11c	$12K		$12K
Advertising and promotionLn 12	$600	$600
Office expensesLn 13	$7K	$7K
OccupancyLn 16	$62K	$62K
Conferences, conventions and meetingsLn 19	$1K	$1K
InterestLn 20	$59K	$59K
Depreciation, depletion and amortizationLn 22	$57K	$57K
InsuranceLn 23	$17K	$17K
Other expenses (24a–d)Ln 24	$123K	$123K
All other expensesLn 24e	$35K	$32K	$4K
Total functional expensesLn 25	$402K	$386K	$16K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 LatestFiled with the IRS Feb 23, 2026	$453K	$433K	$20K	−$1.2M	990 PDF
FY2024 ViewingFiled with the IRS May 15, 2025	$462K	$402K	$60K	−$1.2M	990 PDF
FY2023Filed with the IRS Dec 11, 2024	$456K	$468K	−$13K	−$1.3M	990 PDF
FY2022Filed with the IRS Jan 16, 2024	$369K	$421K	−$52K	−$1.3M	990 PDF
FY2021Filed with the IRS May 13, 2022	$395K	$423K	−$28K	−$1.2M	990 PDF

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 $462,371 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $234,095$230,471

I-9 Program service revenuePrior year $195,048$220,565

I-10 Investment incomePrior year $148$320

I-11 Other revenuePrior year $26,336$11,015

I-12 Total revenuePrior year $455,627$462,371

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 $468,296$402,020

I-18 Total expensesPrior year $468,296$402,020

I-19 Revenue less expensesPrior year −$12,669$60,351

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 $462,371 across 6 lines filed

VIII-1e Government grants$230,471

VIII-1h Total contributions, gifts and grants$230,471

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $220,565$220,565

VIII-3 Investment incomeExcluded from tax $320$320

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $11,015$11,015

VIII-12 Total revenueRelated to mission $231,580 · Unrelated business $0 · Excluded from tax $320$462,371

Part IX · Statement of functional expenses $402,020 across 12 lines filed

IX-11a Management feesPrograms $28,625$28,625

IX-11b Legal feesPrograms $195$195

IX-11c Accounting feesManagement $12,250$12,250

IX-12 Advertising and promotionPrograms $600$600

IX-13 Office expensesPrograms $6,749$6,749

IX-16 OccupancyPrograms $62,067$62,067

IX-19 Conferences, conventions and meetingsPrograms $1,134$1,134

IX-20 InterestPrograms $58,922$58,922

IX-22 Depreciation, depletion and amortizationPrograms $56,519$56,519

IX-23 InsurancePrograms $16,679$16,679

IX-24 Other expenses (24a–d)Programs $122,895$122,895

IX-24e All other expensesPrograms $31,501 · Management $3,884$35,385

IX-25 Total functional expensesPrograms $385,886 · Management $16,134 · Fundraising $0$402,020

Part X · Balance sheet $465,526 assets, 14 lines filed

X-1 Cash, non-interest-bearingStart of year $2,592$32,458

X-4 Accounts receivableStart of year $3,248$2,005

X-9 Prepaid expenses and deferred chargesStart of year $11,236$11,236

X-10c Land, buildings and equipment, netStart of year $373,784$330,909

X-14 Intangible assetsStart of year $31,013$29,314

X-15 Other assetsStart of year $70,646$59,604

X-16 Total assetsStart of year $492,519$465,526

X-17 Accounts payable and accrued expensesStart of year $61,322$34,254

X-19 Deferred revenueStart of year $0$259

X-25 Other liabilitiesStart of year $16,001$14,303

X-26 Total liabilitiesStart of year $1,795,791$1,708,447

X-27 Net assets without donor restrictionsStart of year −$1,303,272−$1,242,921

X-32 Total net assets or fund balancesStart of year −$1,303,272−$1,242,921

X-33 Total liabilities and net assetsStart of year $492,519$465,526

Part XI · Reconciliation of net assets −$1,242,921 net assets at year end

XI-1 Total revenue$462,371

XI-2 Total expenses$402,020

XI-3 Revenue less expenses$60,351

XI-4 Net assets at start of year−$1,303,272

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year−$1,242,921

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

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Stoneboro Development Corporation FY2024 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Stoneboro Development Corporation

Funders

Federal money

By the numbers

Filing history

Schedules filed Part IV