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Independence Park INC FY2022 filing

Tax-deductible

Sharon, PA501(c)(3)Housing EIN 25-1880558Revenue $85K in FY2022

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.
71¢ 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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FY2022 · 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
71%
of spending
Fine: 71% 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
$810K
183% of total assets
Concern: liabilities are 183% 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
$85K
+2% vs prior year
Spent
$110K
To programs
71%
Net assets
−$367K
By yearFY2021–FY2025
Revenue
$85K
FY2022▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2021$83K
FY2022$85K
FY2023$89K
FY2024$94K
FY2025$101K
Expenses
$110K
FY2022▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2021$97K
FY2022$110K
FY2023$113K
FY2024$132K
FY2025$120K
Net assets
−$367K
FY2022▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2021−$342K
FY2022−$367K
FY2023−$391K
FY2024−$429K
FY2025−$449K

From the FY2022 Form 990 (year ending June 2022) · see the original

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You’re viewing the FY2022 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

71 cents of each dollar spent went to programs.

Program services 71% · $78K Management & general 29% · $32K

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 (FY2021); the FY2022 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 · $78K · in their own filed words · FY2021
01

Providing low cost or subsidized housing to qualified physically disabled individuals

$78Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$85K
Ln 12
Fees for servicesLn 2g$85K
Other incomeLn 4–11$97
Investment incomeLn 3$3
Money outPt IX
$110K
Ln 25
Programscol B$78K
Managementcol C$32K
Owns and owesPt X
−$367K
net assets · Ln 32
Cash and savingsLn 1–2$190
Total assetsLn 16$443K
LiabilitiesLn 26$810K
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$85K
Investment incomeLn 3$3
Other incomeLn 4–11$97
Total revenueLn 12$85K
Assets in detailPt X, end of year
CashLn 1$190
Cash and savings togetherLn 1–2$190
Land, buildings, equipmentLn 10c$420K
Other assetsLn 15$22K
Total assetsLn 16$443K
LiabilitiesLn 26$810K
Net assetsLn 32−$367K
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 FY22End FY22
Cash and savingsLn 1–2$150$190
Land, buildings, equipmentLn 10c$443K$420K
Total assetsLn 16$465K$443K
LiabilitiesLn 26$807K$810K
Net assetsLn 32−$342K−$367K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of disqualified personsLn 6$20K$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$2K$2K
Conferences, conventions and meetingsLn 19$323$323
Depreciation, depletion and amortizationLn 22$23K$23K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$43K$43K
All other expensesLn 24e$522$310$212
Total functional expensesLn 25$110K$78K$32K$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 Viewing $85K$110K−$25K−$367K 990 PDF
FY2021 $83K$97K−$14K−$342K 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 FY2022 990 (6 parts)
Part I · Summary $84,980 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $80,805$84,880
I-10 Investment incomePrior year $3$3
I-11 Other revenuePrior year $2,353$97
I-12 Total revenuePrior year $83,161$84,980
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 $25,789$26,841
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $71,604$82,993
I-18 Total expensesPrior year $97,393$109,834
I-19 Revenue less expensesPrior year −$14,232−$24,854
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 $84,980 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $84,880$84,880
VIII-3 Investment incomeExcluded from tax $3$3
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $97$97
VIII-12 Total revenueRelated to mission $84,977 · Unrelated business $0 · Excluded from tax $3$84,980
Part IX · Statement of functional expenses $109,834 across 11 lines filed
IX-6 Pay of disqualified personsPrograms $3,475 · Management $16,840$20,315
IX-9 Other employee benefitsPrograms $5,141$5,141
IX-10 Payroll taxesPrograms $1,385$1,385
IX-11a Management feesManagement $5,340$5,340
IX-11c Accounting feesManagement $6,872$6,872
IX-13 Office expensesManagement $2,440$2,440
IX-19 Conferences, conventions and meetingsPrograms $323$323
IX-22 Depreciation, depletion and amortizationPrograms $22,969$22,969
IX-23 InsurancePrograms $1,659$1,659
IX-24 Other expenses (24a–d)Programs $42,868$42,868
IX-24e All other expensesPrograms $310 · Management $212$522
IX-25 Total functional expensesPrograms $78,130 · Management $31,704 · Fundraising $0$109,834
Part X · Balance sheet $442,916 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $150$190
X-10c Land, buildings and equipment, netStart of year $443,236$420,267
X-15 Other assetsStart of year $21,509$22,459
X-16 Total assetsStart of year $464,895$442,916
X-19 Deferred revenueStart of year $229$259
X-25 Other liabilitiesStart of year $2,199$93,308
X-26 Total liabilitiesStart of year $807,306$810,181
X-27 Net assets without donor restrictionsStart of year −$342,411−$367,265
X-32 Total net assets or fund balancesStart of year −$342,411−$367,265
X-33 Total liabilities and net assetsStart of year $464,895$442,916
Part XI · Reconciliation of net assets −$367,265 net assets at year end
XI-1 Total revenue$84,980
XI-2 Total expenses$109,834
XI-3 Revenue less expenses−$24,854
XI-4 Net assets at start of year−$342,411
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$367,265

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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