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Independence Park INC FY2021 filing

Tax-deductible

Sharon, PA501(c)(3)HousingEIN 25-1880558Revenue $83K in FY2021

On file with the IRScapmercer.org215 S Water Ave, 16146-1304 · Sharon, PATax-exempt since May 2001Publicly supported charity — 170(b)(1)(A)(vi)

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To provide housing to qualified physically disabled individuals in cooperation with the US dept of housing and urban development.

501(c)(3) charity; gifts are tax-deductible.
66¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
0 of 5
filings with a surplus
Average deficit $24K a year · 27% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$807K
174% of total assets
Concern: liabilities are 174% 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
$83K
Spent
$97K
To programs
66%
Net assets
−$342K
By yearFY2021–FY2025
Revenue
$83K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$83K
FY2022$85K
FY2023$89K
FY2024$94K
FY2025$101K
Expenses
$97K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$97K
FY2022$110K
FY2023$113K
FY2024$132K
FY2025$120K
Net assets
−$342K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021−$342K
FY2022−$367K
FY2023−$391K
FY2024−$429K
FY2025−$449K

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 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 May 2001.

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

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $65K Management & general 34% · $33K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Karen Winner Sed
Vice-President
$0Pt VII · Sec A
Fran Billen
Secretary
$0Pt VII · Sec A
Bob Lucas
President
$0Pt VII · Sec A
Alan Nathan
Board Member
$0Pt VII · Sec A
Lizette Olsen
Treasurer
$0Pt VII · Sec A
Jeffrey Simmons
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Independence Park 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

Offers housing to qualified physically disabled individuals.

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Provided by the organization

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1 program · $65K · in their own filed words · FY2020
01

Providing low cost or subsidized housing to qualified physically disabled individuals

$65Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$83K
Ln 12
Fees for servicesLn 2g$81K
Other incomeLn 4–11$2K
Investment incomeLn 3$3
Money outPt IX
$97K
Ln 25
Programscol B$65K
Managementcol C$33K
Owns and owesPt X
−$342K
net assets · Ln 32
Cash and savingsLn 1–2$150
Total assetsLn 16$465K
LiabilitiesLn 26$807K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$81K
Investment incomeLn 3$3
Other incomeLn 4–11$2K
Total revenueLn 12$83K
Assets in detailPt X, end of year
CashLn 1$150
Cash and savings togetherLn 1–2$150
Land, buildings, equipmentLn 10c$443K
Other assetsLn 15$22K
Total assetsLn 16$465K
LiabilitiesLn 26$807K
Net assetsLn 32−$342K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$2K$150
Land, buildings, equipmentLn 10c$467K$443K
Total assetsLn 16$498K$465K
LiabilitiesLn 26$826K$807K
Net assetsLn 32−$328K−$342K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$19K$3K$17K
Other employee benefitsLn 9$5K$5K
Payroll taxesLn 10$1K$1K
Management feesLn 11a$5K$5K
Accounting feesLn 11c$7K$7K
Office expensesLn 13$4K$4K
Conferences, conventions and meetingsLn 19$43$43
Depreciation, depletion and amortizationLn 22$23K$23K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$30K$30K
All other expensesLn 24e$541$234$307
Total functional expensesLn 25$97K$65K$33K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $101K$120K−$19K−$449K 990 PDF
FY2024 $94K$132K−$38K−$429K 990 PDF
FY2023 $89K$113K−$24K−$391K 990 PDF
FY2022 $85K$110K−$25K−$367K 990 PDF
FY2021 Viewing $83K$97K−$14K−$342K 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
See the full FY2021 990 (6 parts)
Part I · Summary $83,161 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $79,160$80,805
I-10 Investment incomePrior year $3$3
I-11 Other revenuePrior year $0$2,353
I-12 Total revenuePrior year $79,163$83,161
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 $27,460$25,789
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $67,896$71,604
I-18 Total expensesPrior year $95,356$97,393
I-19 Revenue less expensesPrior year −$16,193−$14,232
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $83,161 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $80,805$80,805
VIII-3 Investment incomeExcluded from tax $3$3
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,353$2,353
VIII-12 Total revenueRelated to mission $83,158 · Unrelated business $0 · Excluded from tax $3$83,161
Part IX · Statement of functional expenses $97,393 across 11 lines filed
IX-7 Other salaries and wagesPrograms $2,568 · Management $16,759$19,327
IX-9 Other employee benefitsPrograms $5,158$5,158
IX-10 Payroll taxesPrograms $1,304$1,304
IX-11a Management feesManagement $5,340$5,340
IX-11c Accounting feesManagement $6,710$6,710
IX-13 Office expensesManagement $3,711$3,711
IX-19 Conferences, conventions and meetingsPrograms $43$43
IX-22 Depreciation, depletion and amortizationPrograms $23,494$23,494
IX-23 InsurancePrograms $1,456$1,456
IX-24 Other expenses (24a–d)Programs $30,309$30,309
IX-24e All other expensesPrograms $234 · Management $307$541
IX-25 Total functional expensesPrograms $64,566 · Management $32,827 · Fundraising $0$97,393
Part X · Balance sheet $464,895 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $2,055$150
X-10c Land, buildings and equipment, netStart of year $466,730$443,236
X-15 Other assetsStart of year $28,265$21,509
X-16 Total assetsStart of year $497,696$464,895
X-17 Accounts payable and accrued expensesStart of year $108,915$90,178
X-19 Deferred revenueStart of year $225$229
X-25 Other liabilitiesStart of year $2,035$2,199
X-26 Total liabilitiesStart of year $825,875$807,306
X-27 Net assets without donor restrictionsStart of year −$328,179−$342,411
X-32 Total net assets or fund balancesStart of year −$328,179−$342,411
X-33 Total liabilities and net assetsStart of year $497,696$464,895
Part XI · Reconciliation of net assets −$342,411 net assets at year end
XI-1 Total revenue$83,161
XI-2 Total expenses$97,393
XI-3 Revenue less expenses−$14,232
XI-4 Net assets at start of year−$328,179
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$342,411

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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