Resident Services Incorporated EIN 26-1599249

Resident Services Incorporated

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Empowering individuals and families to build stronger communities. For fiscal year 2024 it reported $44K in revenue, $50K in expenses, and $28K in net assets.Pt I

Type
Public charity (501(c)(3)) · Housing
Location
Baltimore, MD
Filings
4 on file (2021–2024)
Revenue
$44KFY2024
Expenses
$50K
Net assets
$28K
People
5
Filings
4
Updates
0
More identity details & actions ⌄
EIN  26-1599249 Public charity (501(c)(3)) Baltimore, MD
Form 990 (PDF)
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Size
<$100K
What they do
Empowering individuals and families to build stronger communities.
Leadership
Janet Abrahams · Director/CEO
Money in and out
$44K revenue, $50K expenses
Bottom line
90% program efficiency
Where the money goes · FY2024
Total revenue
$44K
Pt VIII · Ln 12
Total expenses
$50K
Pt IX · Ln 25
Net assets
$28K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$6K
Where spending went · Part IX cols B–D
Program services $0.90 Management & general $0.10
Program efficiency
90%
of spending reaches programs▲ +85% vs prior filing year
Operating runway
27.0mo
months of highly liquid reserves at operating expense rate▲ +12% vs prior filing year
Surplus margin
-13%
revenue over expenses, this year▲ +88% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$44K
FY2024▲ +74%
Expenses
$50K
FY2024▼ -6%
Total assets
$112K
FY2024▲ +5%
Total liabilities
$84K
FY2024▲ +480%
Total revenue
$44K
Pt VIII · Ln 12
Total expenses
$50K
Pt IX · Ln 25
Net assets
$28K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$6K
Total assetsPt X · Ln 16$112K
Program-expense ratioPt IX · col B90%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

1 program service account for $45K of program spending, described in the organization's own filed words · FY2024.
01

Sponsor, facilitate and implement social services, employment training programs, community service proejcts that promote health and self-sufficiency among and improves the quality of life for public housing and other low income residents of baltimore city.

$45Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CResident Services Incorporated
EINHdr · item D26-1599249
Principal addressHdr · item CBaltimore, MD
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L80)
Ruling yearIRS BMFJul 2008

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Director/CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer/CFO
$0Pt VII · Sec A
Resident Agent
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants100%$44K
Investment income$10
Total revenueLn 12$44K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.90 Management & general $0.10
Program services90%$45K
Management & general10%$5K
Total functional expensesLn 25$50K

Balance Sheet

Part X · end of year
CashLn 1$112K
Total assetsLn 16$112K
Total liabilitiesLn 26$84K
Total net assetsLn 32$28K
Months of cash on handcomputed27.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $112K · Operating expenses/yr $50K
27.0 months
Where the money goes
Program services
Program services $45K · Total expenses $50K
90%
Management & General
Management & general $5K · Total expenses $50K
10%
Fundraising
Fundraising $0 · Total expenses $50K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $127K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $44K · Total revenue $44K
100%
Government reliance
Government grants — · Total revenue $44K
Earned-income share
Program service revenue $0 · Total revenue $44K
0%
Investment reliance
Investment income $10 · Total revenue $44K
+0.02%
Program self-sufficiency
Program service revenue $0 · Total expenses $50K
0%
Growth & trend
Revenue growth (YoY)
This year $44K · Prior year $25K
+74%
Net-asset trend (YoY)
End of year $28K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $44K · Expenses $50K
-13%
Liabilities-to-Assets
Total liabilities — · Total assets $112K
Net-asset ratio
Net assets $28K · Total assets $112K
25%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $112K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Janet Abrahams · Reported title DIRECTOR/CEO · Highest reported compensation $0 · Total expenses $50K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $50K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 90%
Overhead ratio 10%
Fundraising cost ratio 0%
Revenue growth 74%
Accounting fee ratio 5%

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.

Grants

Schedule I · funders on record
Grants received · FY2021
Total grants receivedfrom 1 funder$10K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$44K revenue · viewing · ⤓ 990 PDF
FY2023$25K revenue · ⤓ 990 PDF
FY2022$315K revenue · ⤓ 990 PDF
FY2021$226K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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