Summerside Woods INC: FY2020 Nonprofit Profile & Form 990 (EIN 26-1913033)

Revenue by fiscal year
FY2020	$251K
FY2021	$250K
FY2022	$318K
FY2023	$273K
FY2024	$297K

Expenses by fiscal year
FY2020	$366K
FY2021	$373K
FY2022	$409K
FY2023	$395K
FY2024	$380K

Net assets by fiscal year
FY2020	$4.1M
FY2021	$3.9M
FY2022	$3.8M
FY2023	$3.7M
FY2024	$3.6M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2008.

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

Where the money goes

81 cents of each dollar spent went to programs.

81%

19%

Program services 81% · $298K Management & general 19% · $69K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation

Aaron Maus

Trustee

$0Pt VII · Sec A

Bonnie Batchler

Trustee

$0Pt VII · Sec A

John Thebout

Trustee

$0Pt VII · Sec A

Marilyn Hodges

Trustee

$0Pt VII · Sec A

Patti Louiso

Trustee

$0Pt VII · Sec A

Ron Gramke

Trustee

$0Pt VII · Sec A

Sandy Graham

Trustee

$0Pt VII · Sec A

Tim Rudd

Trustee

$0Pt VII · Sec A

See Summerside Woods 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 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Builds and manages affordable homes for seniors.

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Provided by the organization

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1 program · $298K · in their own filed words · FY2020

01

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

$298Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$251K

Ln 12

Fees for servicesLn 2g$241K

Other incomeLn 4–11$5K

Gifts and grantsLn 1h$5K

Money outPt IX

$366K

Ln 25

Programscol B$298K

Managementcol C$69K

Owns and owesPt X

$4.1M

net assets · Ln 32

Cash and savingsLn 1–2$260K

Total assetsLn 16$4.1M

LiabilitiesLn 26$70K

PeoplePt VI, VII

13

listed · VII A

PaidVII A0

Voting boardVI 1a11

IndependentVI 1b11

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$5K

Government grantsLn 1e$5K

Fees for servicesLn 2g$241K

Investment incomeLn 3$50

Other incomeLn 4–11$5K

Total revenueLn 12$251K

Assets in detailPt X, end of year

CashLn 1$9K

SavingsLn 2$252K

Cash and savings togetherLn 1–2$260K

Land, buildings, equipmentLn 10c$3.8M

Other assetsLn 15$18K

Total assetsLn 16$4.1M

LiabilitiesLn 26$70K

Net assetsLn 32$4.1M

OperationsPt I, VI

EmployeesI 50

VolunteersI 614

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$239K	$260K
Land, buildings, equipmentLn 10c	$4.0M	$3.8M
Total assetsLn 16	$4.2M	$4.1M
LiabilitiesLn 26	$57K	$70K
Net assetsLn 32	$4.2M	$4.1M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$44K	$22K	$22K
Other employee benefitsLn 9	$1K	$1K
Payroll taxesLn 10	$4K	$4K
Management feesLn 11a	$28K		$28K
Accounting feesLn 11c	$9K		$9K
Office expensesLn 13	$18K	$8K	$10K
OccupancyLn 16	$79K	$79K
Depreciation, depletion and amortizationLn 22	$125K	$125K
InsuranceLn 23	$10K	$10K
Other expenses (24a–d)Ln 24	$48K	$48K
Total functional expensesLn 25	$366K	$298K	$69K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$297K	$380K	−$83K	$3.6M	990 PDF
FY2023	$273K	$395K	−$121K	$3.7M	990 PDF
FY2022	$318K	$409K	−$91K	$3.8M	990 PDF
FY2021	$250K	$373K	−$123K	$3.9M	990 PDF
FY2020 Viewing	$251K	$366K	−$115K	$4.1M	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 FY2020 990 (6 parts)

Part I · Summary $251,482 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$5,000

I-9 Program service revenuePrior year $241,594$241,249

I-10 Investment incomePrior year $45$50

I-11 Other revenuePrior year $3,937$5,183

I-12 Total revenuePrior year $245,576$251,482

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 $46,100$48,995

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $306,365$317,402

I-18 Total expensesPrior year $352,465$366,397

I-19 Revenue less expensesPrior year −$106,889−$114,915

Part VI · Governance 11 of 11 board members independent, 5 to look at

VI-1a Voting members of the governing body11

VI-1b Independent voting members11

VI-2 Family or business relationship among officers or directorsYes

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

Part VIII · Statement of revenue $251,482 across 6 lines filed

VIII-1e Government grants$5,000

VIII-1h Total contributions, gifts and grants$5,000

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $241,249$241,249

VIII-3 Investment incomeExcluded from tax $50$50

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,887 · Excluded from tax $2,296$5,183

VIII-12 Total revenueRelated to mission $244,136 · Unrelated business $0 · Excluded from tax $2,346$251,482

Part IX · Statement of functional expenses $366,397 across 10 lines filed

IX-7 Other salaries and wagesPrograms $21,763 · Management $22,026$43,789

IX-9 Other employee benefitsPrograms $1,425$1,425

IX-10 Payroll taxesPrograms $3,781$3,781

IX-11a Management feesManagement $27,748$27,748

IX-11c Accounting feesManagement $9,063$9,063

IX-13 Office expensesPrograms $7,562 · Management $10,049$17,611

IX-16 OccupancyPrograms $79,377$79,377

IX-22 Depreciation, depletion and amortizationPrograms $125,426$125,426

IX-23 InsurancePrograms $9,911$9,911

IX-24 Other expenses (24a–d)Programs $48,266$48,266

IX-25 Total functional expensesPrograms $297,511 · Management $68,886 · Fundraising $0$366,397

Part X · Balance sheet $4,122,683 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $10,419$8,896

X-2 Savings and temporary cash investmentsStart of year $228,910$251,524

X-9 Prepaid expenses and deferred chargesStart of year $2,473$2,473

X-10c Land, buildings and equipment, netStart of year $3,966,929$3,841,503

X-15 Other assetsStart of year $16,299$18,287

X-16 Total assetsStart of year $4,225,030$4,122,683

X-17 Accounts payable and accrued expensesStart of year $40,784$53,202

X-25 Other liabilitiesStart of year $16,599$16,749

X-26 Total liabilitiesStart of year $57,383$69,951

X-27 Net assets without donor restrictionsStart of year −$1,057,131−$1,172,046

X-28 Net assets with donor restrictionsStart of year $5,224,778$5,224,778

X-32 Total net assets or fund balancesStart of year $4,167,647$4,052,732

X-33 Total liabilities and net assetsStart of year $4,225,030$4,122,683

Part XI · Reconciliation of net assets $4,052,732 net assets at year end

XI-1 Total revenue$251,482

XI-2 Total expenses$366,397

XI-3 Revenue less expenses−$114,915

XI-4 Net assets at start of year$4,167,647

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$4,052,732

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Summerside Woods INC FY2020 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Summerside Woods INC

By the numbers

Filing history

Schedules filed Part IV