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Chestnut Commons INC FY2021 filing

State College, PA · Public charity (501(c)(3)) · Housing

✓ Tax-deductible Latest data FY2021
Revenue
$27K
Net assets
$-87K
Form 990 (PDF) Claim this org
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Form 990 for the fiscal year ending June 2021 (IRS tax year 2020).

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
Not on file
Spent on programs?
Not on file
Size and trend
<$100K
Legal name (IRS)Hdr · item CChestnut Commons INC
EINHdr · item D25-1789744
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFOct 1996
Latest filingForm 990FY2025 · Form 990-EZ
Principal addressHdr · item CState College, PA
NTEE classificationIRS BMFHousing (L22Z)

Financial health

Revenue & expenses by yearFY2021–FY2025
Revenue
$27K
FY2021
Operating runway
14.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
-54%
revenue over expenses, this year
Donor-funded
39%
of revenue is gifts & grants

Summary of the Filing

Part I · fiscal year 2021 · Form 990-EZ
Revenue less expensesPt I · Ln 19—
Total assetsPt X · Ln 16—
Program-expense ratioPt IX · col B—
Voting members of governing bodyPt I · Ln 3pending
Independent voting membersPt I · Ln 4pending

Balance Sheet

Part X · end of year
CashLn 1—
Total assetsLn 16—
Total liabilitiesLn 26$306K
Total net assetsLn 32$-87K

Statement of Revenue

Part VIII
Other revenue100%$27K
Total revenueLn 12$27K

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $48K · Operating expenses/yr $41K
14.0 months
Where the money goes
Program services
not reported
Management & General
not reported
Fundraising
not reported
Cost to raise $1
not reported
Where the money comes from
Contribution dependence
Contributions & grants $10K · Total revenue $27K
39%
Government reliance
not reported
Earned-income share
Program service revenue $16K · Total revenue $27K
61%
Investment reliance
Investment income — · Total revenue $27K
—
Program self-sufficiency
Program service revenue $16K · Total expenses $41K
40%
Growth & trend
Revenue growth (YoY)
This year $27K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $-87K · Beginning of year $-73K
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $27K · Expenses $41K
-54%
Liabilities-to-Assets
Total liabilities $306K · Total assets $219K
140%
Net-asset ratio
Net assets $-87K · Total assets $219K
-40%
People & payroll
Highest Reported Total Compensation
Individual Billie Willits · Reported title PAST CHAIRPERSON · Highest reported compensation $0 · Total expenses $41K
0%
Personnel share
Salaries & benefits $1K · Total expenses $41K
3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown. Peer cohort: .

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Billie Willits
Past Chairperson
$0Pt VII · Sec A
Sharon Jones
Director
$0Pt VII · Sec A
Matt Fox
Director
$0Pt VII · Sec A
Maria Brandt
Director
$0Pt VII · Sec A
Eric Toggart
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Martin Malone
Chairperson
$0Pt VII · Sec A
See Chestnut Commons INC executive salaries →

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Mission and programs

A housing nonprofit based in State College, PA.

Provided by the organization

This section is blank until Chestnut Commons INC claims this page.

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Filing history

YearRevenueExpensesChangeFiling
FY2025 Latest $24K—-5% 990 PDF
FY2024 $26K—+0.3% 990 PDF
FY2023 $25K—+52% 990 PDF
FY2022 $17K—-37% 990 PDF
FY2021 Viewing $27K— 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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