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Skills Development INC FY2024 filing

Tax-deductible

State College, PA501(c)(3)Unclassified EIN 25-1620804Revenue $176K in FY2024

On file with the IRS901 University Dr Ste 3, 16801-6627 · State College, PATax-exempt since Dec 1990Publicly supported charity — 170(b)(1)(A)(vi)

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To provide low income housing to qualified individuals

501(c)(3) charity; gifts are tax-deductible.
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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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
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
4 of 5
filings with a surplus
Average surplus $8K a year · 5% 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
22 mo
of spending, in cash
Looks good: 22.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$482K
95% of total assets
Concern: liabilities are 95% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$176K
-0.8% vs prior year
Spent
$153K
To programs
86%
Net assets
$25K
By yearFY2021–FY2025
Revenue
$176K
FY2024▼ -0.8%
Tap a bar for its year
Revenue by fiscal year
FY2021$175K
FY2022$178K
FY2023$178K
FY2024$176K
FY2025$159K
Expenses
$153K
FY2024▼ -7%
Tap a bar for its year
Expenses by fiscal year
FY2021$169K
FY2022$160K
FY2023$166K
FY2024$153K
FY2025$177K
Net assets
$25K
FY2024▲ ×10
Tap a bar for its year
Net assets by fiscal year
FY2021−$28K
FY2022−$10K
FY2023$2K
FY2024$25K
FY2025$7K

From the FY2024 Form 990 (year ending June 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 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 Dec 1990.

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% · $132K Management & general 14% · $21K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
James Cimino
Ex. Officio Director
$0Pt VII · Sec A
Eric Malone
Community Member
$0Pt VII · Sec A
Ron Springer
Community Member
$0Pt VII · Sec A
Chris Knarr
Ex. Officio Director
$0Pt VII · Sec A
Val Berner
Ex. Officio Director
$0Pt VII · Sec A
Matt Fox
Director
$0Pt VII · Sec A
See Skills 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

Builds and manages affordable homes for low-income people.

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Provided by the organization

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1 program · $132K · in their own filed words · FY2023
01

The organization provides low income housing to qualified individuals in an 18 unit H.U.D. Project located in altoona, pa

$132Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$176K
Ln 12
Gifts and grantsLn 1h$121K
Fees for servicesLn 2g$54K
Other incomeLn 4–11$586
Money outPt IX
$153K
Ln 25
Programscol B$132K
Managementcol C$21K
Owns and owesPt X
$25K
net assets · Ln 32
Cash and savingsLn 1–2$287K
Total assetsLn 16$508K
LiabilitiesLn 26$482K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$121K
Government grantsLn 1e$121K
Fees for servicesLn 2g$54K
Investment incomeLn 3$400
Other incomeLn 4–11$586
Total revenueLn 12$176K
Assets in detailPt X, end of year
CashLn 1$287K
Cash and savings togetherLn 1–2$287K
Land, buildings, equipmentLn 10c$218K
Total assetsLn 16$508K
LiabilitiesLn 26$482K
Net assetsLn 32$25K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
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$273K$287K
Land, buildings, equipmentLn 10c$246K$218K
Total assetsLn 16$520K$508K
LiabilitiesLn 26$518K$482K
Net assetsLn 32$2K$25K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$4K$4K
Other salaries and wagesLn 7$2K$2K
Management feesLn 11a$12K$12K
Accounting feesLn 11c$7K$7K
OccupancyLn 16$27K$27K
InterestLn 20$39K$39K
Depreciation, depletion and amortizationLn 22$28K$28K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$31K$29K$2K
Total functional expensesLn 25$153K$132K$21K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $159K$177K−$18K$7K 990 PDF
FY2024 Viewing $176K$153K$23K$25K 990 PDF
FY2023 $178K$166K$12K$2K 990 PDF
FY2022 $178K$160K$18K−$10K 990 PDF
FY2021 $175K$169K$6K−$28K 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 $176,425 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $122,507$121,456
I-9 Program service revenuePrior year $48,867$53,983
I-10 Investment incomePrior year $417$400
I-11 Other revenuePrior year $6,096$586
I-12 Total revenuePrior year $177,887$176,425
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 $7,040$6,187
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $158,610$147,236
I-18 Total expensesPrior year $165,650$153,423
I-19 Revenue less expensesPrior year $12,237$23,002
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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 $176,425 across 6 lines filed
VIII-1e Government grants$121,456
VIII-1h Total contributions, gifts and grants$121,456
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $53,983$53,983
VIII-3 Investment incomeExcluded from tax $400$400
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $586$586
VIII-12 Total revenueRelated to mission $53,983 · Unrelated business $586 · Excluded from tax $400$176,425
Part IX · Statement of functional expenses $153,423 across 9 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $4,004$4,004
IX-7 Other salaries and wagesPrograms $2,183$2,183
IX-11a Management feesManagement $11,915$11,915
IX-11c Accounting feesManagement $7,100$7,100
IX-16 OccupancyPrograms $27,034$27,034
IX-20 InterestPrograms $39,032$39,032
IX-22 Depreciation, depletion and amortizationPrograms $28,155$28,155
IX-23 InsurancePrograms $2,996$2,996
IX-24 Other expenses (24a–d)Programs $28,984 · Management $2,020$31,004
IX-25 Total functional expensesPrograms $132,388 · Management $21,035 · Fundraising $0$153,423
Part X · Balance sheet $507,695 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $272,741$287,484
X-4 Accounts receivableStart of year $1,321$2,020
X-10c Land, buildings and equipment, netStart of year $246,346$218,191
X-16 Total assetsStart of year $520,408$507,695
X-17 Accounts payable and accrued expensesStart of year $2,041$4,745
X-24 Unsecured notes and loans payableStart of year $486,837$447,965
X-25 Other liabilitiesStart of year $29,042$29,495
X-26 Total liabilitiesStart of year $517,920$482,205
X-27 Net assets without donor restrictionsStart of year $2,488$25,490
X-32 Total net assets or fund balancesStart of year $2,488$25,490
X-33 Total liabilities and net assetsStart of year $520,408$507,695
Part XI · Reconciliation of net assets $25,490 net assets at year end
XI-1 Total revenue$176,425
XI-2 Total expenses$153,423
XI-3 Revenue less expenses$23,002
XI-4 Net assets at start of year$2,488
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$25,490

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

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