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Partners for Lancaster County FY2021 filing

Irvington, VAUnknown exempt organizationEIN 26-3109559Revenue $162K in FY2021

On file with the IRSP O Box 144 · Irvington, VA

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To build an affordable apartment complex for teachers and other public employees, to encourage qualified workers to move to the area.

99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 3
filings with a surplus
Average deficit $173K a year · 131% of revenue · last 3 filings
Concern: a surplus in 0 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.0M
67% of total assets
Worth a look: liabilities are 67% of assets; over 65%.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$162K
-17% vs prior year
Spent
$201K
To programs
99%
Net assets
$500K
By yearFY2020–FY2022
Revenue
$162K
FY2021▼ -17%
Tap a bar for its year
Revenue by fiscal year
FY2020$194K
FY2021$162K
FY2022$42K
Expenses
$201K
FY2021▲ +0.8%
Tap a bar for its year
Expenses by fiscal year
FY2020$200K
FY2021$201K
FY2022$516K
Net assets
$500K
FY2021▼ -6%
Tap a bar for its year
Net assets by fiscal year
FY2020$533K
FY2021$500K
FY2022$0

From the FY2021 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $199K Management & general 1% · $2K

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

14 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Jason D Bellows
Board Member
$0Pt VII · Sec A
Tara Booth
President
$0Pt VII · Sec A
Cindy Clarke
Board Member
$0Pt VII · Sec A
Jessica Davis
Vice Preside
$0Pt VII · Sec A
Julie Duvall
Board Member
$0Pt VII · Sec A
Kelvin Evans
Boad Member
$0Pt VII · Sec A
Mitchell Evans
Board Member
$0Pt VII · Sec A
See Partners for Lancaster County 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

Builds affordable apartments for teachers and public employees to attract workers.

Questions for Partners for Lancaster County

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Provided by the organization

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1 program · $199K · in their own filed words · FY2021
01

To manage and maintain an affordable rental apartment complex for teachers and public employees.

$199Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2022
First Citizens Foundation INC Co FirstFY2022$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 1 grant · $3K · 2022–2022
Lancaster County Virginia Education Foundation INCVA · FY2022$3,136

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$162K
Ln 12
Fees for servicesLn 2g$151K
Investment incomeLn 3$6K
Gifts and grantsLn 1h$4K
Money outPt IX
$201K
Ln 25
Programscol B$199K
Managementcol C$2K
Owns and owesPt X
$500K
net assets · Ln 32
Cash and savingsLn 1–2$22K
Total assetsLn 16$1.5M
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4K
Fees for servicesLn 2g$151K
Investment incomeLn 3$6K
Gains on assetsLn 7$4K
Total revenueLn 12$162K
Assets in detailPt X, end of year
CashLn 1$20K
SavingsLn 2$2K
Cash and savings togetherLn 1–2$22K
InvestmentsLn 11–13$122K
Land, buildings, equipmentLn 10c$1.3M
Other assetsLn 15$32K
Total assetsLn 16$1.5M
LiabilitiesLn 26$1.0M
Net assetsLn 32$500K
OperationsPt I, VI
EmployeesI 51
VolunteersI 615
Fiscal year endsHeaderDecember
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$29K$22K
InvestmentsLn 11–13$127K$122K
Land, buildings, equipmentLn 10c$1.4M$1.3M
Total assetsLn 16$1.6M$1.5M
LiabilitiesLn 26$1.1M$1.0M
Net assetsLn 32$533K$500K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$3K$3K
Investment management feesLn 11f$350$350
OccupancyLn 16$39K$39K
InterestLn 20$36K$36K
Depreciation, depletion and amortizationLn 22$59K$59K
Other expenses (24a–d)Ln 24$63K$61K$2K
All other expensesLn 24e$559$503$56
Total functional expensesLn 25$201K$199K$2K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $42K$516K−$474K$0 990 PDF
FY2021 Viewing $162K$201K−$40K$500K 990 PDF
FY2020 $194K$200K−$6K$533K 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 $161,806 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $7,973$4,441
I-9 Program service revenuePrior year $146,116$151,103
I-10 Investment incomePrior year $10,983$6,262
I-11 Other revenuePrior year $28,739$0
I-12 Total revenuePrior year $193,811$161,806
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $199,775$201,331
I-18 Total expensesPrior year $199,775$201,331
I-19 Revenue less expensesPrior year −$5,964−$39,525
Part VI · Governance 14 of 14 board members independent, 3 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
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 $161,806 across 6 lines filed
VIII-1f All other contributions, gifts and grants$4,441
VIII-1h Total contributions, gifts and grants$4,441
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $151,103$151,103
VIII-3 Investment incomeExcluded from tax $2,283$2,283
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,979$3,979
VIII-12 Total revenueRelated to mission $151,103 · Excluded from tax $6,262$161,806
Part IX · Statement of functional expenses $201,331 across 7 lines filed
IX-11c Accounting feesPrograms $3,020$3,020
IX-11f Investment management feesManagement $350$350
IX-16 OccupancyPrograms $39,333$39,333
IX-20 InterestPrograms $35,581$35,581
IX-22 Depreciation, depletion and amortizationPrograms $59,413$59,413
IX-24 Other expenses (24a–d)Programs $61,267 · Management $1,808$63,075
IX-24e All other expensesPrograms $503 · Management $56$559
IX-25 Total functional expensesPrograms $199,117 · Management $2,214 · Fundraising $0$201,331
Part X · Balance sheet $1,521,321 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $21,176$19,590
X-2 Savings and temporary cash investmentsStart of year $7,955$1,984
X-4 Accounts receivableStart of year $516$122
X-10c Land, buildings and equipment, netStart of year $1,387,768$1,329,210
X-11 Publicly traded securitiesStart of year $126,575$122,485
X-14 Intangible assetsStart of year $17,255$16,401
X-15 Other assetsStart of year $26,827$31,529
X-16 Total assetsStart of year $1,588,072$1,521,321
X-17 Accounts payable and accrued expensesStart of year $4,698$3,437
X-25 Other liabilitiesStart of year $15,669$17,034
X-26 Total liabilitiesStart of year $1,055,474$1,021,208
X-27 Net assets without donor restrictionsStart of year $532,598$500,113
X-32 Total net assets or fund balancesStart of year $532,598$500,113
X-33 Total liabilities and net assetsStart of year $1,588,072$1,521,321
Part XI · Reconciliation of net assets $500,113 net assets at year end
XI-1 Total revenue$161,806
XI-2 Total expenses$201,331
XI-3 Revenue less expenses−$39,525
XI-4 Net assets at start of year$532,598
XI-5 Net unrealized gains (losses) on investments$7,040
XI-10 Net assets at end of year$500,113

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

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