Summerside Woods INC EIN 26-1913033 Form 990 (PDF) Claim this org

Summerside Woods INC

Not yet claimed Claim this org →

Builds and manages affordable homes for seniors. For fiscal year 2024 it reported $297K in revenue, $380K in expenses, and $3.6M in net assets.Pt I

Type
Public charity (501(c)(3)) · Housing
Location
Cincinnati, OH
Filings
5 on file (2020–2024)
Revenue
$297KFY2024
Expenses
$380K
Net assets
$3.6M
People
11
Filings
5
Updates
0
More identity details & actions ⌄
EIN  26-1913033 Public charity (501(c)(3)) Cincinnati, OH
Form 990 (PDF)
Compare with another nonprofit →
Is this your organization?
Claim this profile to manage it and share your story.
Claim
Provided by the organization

This section is blank until Summerside Woods INC claims this page.

Know this organization? Claim it to add your story

Size
$100K–1M
What they do
Builds and manages affordable homes for seniors.
Leadership
Marilyn Hodges · Trustee
Money in and out
$297K revenue, $380K expenses
Bottom line
70% program efficiency
Where the money goes · FY2024
Total revenue
$297K
Pt VIII · Ln 12
Total expenses
$380K
Pt IX · Ln 25
Net assets
$3.6M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$83K
Where spending went · Part IX cols B–D
Program services $0.70 Management & general $0.30
Program efficiency
70%
of spending reaches programs▼ -12% vs prior filing year
Operating runway
9.6mo
months of highly liquid reserves at operating expense rate▲ +12% vs prior filing year
Surplus margin
-28%
revenue over expenses, this year▲ +37% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$297K
FY2024▲ +9%
Expenses
$380K
FY2024▼ -4%
Total assets
$3.7M
FY2024▼ -3%
Total liabilities
$40K
FY2024▼ -31%
Total revenue
$297K
Pt VIII · Ln 12
Total expenses
$380K
Pt IX · Ln 25
Net assets
$3.6M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$83K
Total assetsPt X · Ln 16$3.7M
Program-expense ratioPt IX · col B70%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSummerside Woods INC
EINHdr · item D26-1913033
Principal addressHdr · item CCincinnati, OH
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L22)
Ruling yearIRS BMFMar 2008

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
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
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Treasurer/Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Summerside Woods INC executive salaries →

Are you one of these people? Claim this org to confirm your role

Mission & Programs · Part III

Where the work happens

1 program service account for $265K of program spending, described in the organization's own filed words · FY2024.
01

Summerside Woods, Inc. is a 45 unit apartment complex organized to provide affordable housing to the elderly.

$265Kprogram expense

Run this program? Claim this org to tell your story

Statement of Revenue

Part VIII
Program service revenue$272K · 91%
Other revenue$26K · 9%
Program service revenue91%$272K
Other revenue9%$26K
Total revenueLn 12$297K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.70 Management & general $0.30
Program services70%$265K
Management & general30%$115K
Total functional expensesLn 25$380K

Balance Sheet

Part X · end of year
CashLn 1$305K
Total assetsLn 16$3.7M
Total liabilitiesLn 26$40K
Total net assetsLn 32$3.6M
Months of cash on handcomputed9.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $305K · Operating expenses/yr $380K
9.6 months
Where the money goes
Program services
Program services $265K · Total expenses $380K
70%
Management & General
Management & general $115K · Total expenses $380K
30%
Fundraising
Fundraising $0 · Total expenses $380K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $297K
0%
Government reliance
Government grants — · Total revenue $297K
Earned-income share
Program service revenue $272K · Total revenue $297K
91%
Investment reliance
Investment income $0 · Total revenue $297K
0%
Program self-sufficiency
Program service revenue $272K · Total expenses $380K
71%
Growth & trend
Revenue growth (YoY)
This year $297K · Prior year $273K
+9%
Revenue CAGR
FY2020 $251K · FY2024 $297K
+4%
Net-asset trend (YoY)
End of year $3.6M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $297K · Expenses $380K
-28%
Liabilities-to-Assets
Total liabilities — · Total assets $3.7M
Net-asset ratio
Net assets $3.6M · Total assets $3.7M
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $3.7M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Marilyn Hodges · Reported title Trustee · Highest reported compensation $0 · Total expenses $380K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $64K · Total expenses $380K
17%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 70%
Overhead ratio 30%
Revenue growth 9%
Legal fee ratio 6%
Accounting fee ratio 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.

Similar Organizations

Closest in mission — by what they do
See all organizations like Summerside Woods INC →

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

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)$297K revenue · viewing · ⤓ 990 PDF
FY2023$273K revenue · ⤓ 990 PDF
FY2022$318K revenue · ⤓ 990 PDF
FY2021$250K revenue · ⤓ 990 PDF
FY2020$251K revenue · ⤓ 990 PDF

Want to add your own materials alongside these filings? Claim this org

Sources

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

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.