Waterford Dublin Development INC FY2022 filing

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To acquire, construct, own and operate a 56-unit rental housing facility for low-income residents known as Waterford Estates located in Dublin, Georgia.

Form 990 Part I, line 1, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 27-1073302) · Dispute this line
501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
The IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $212K a year · 36% of revenue · last 6 filings
A surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
97%
of spending
97% of spending went to programs.
Pt IX · Ln 25 · col B
14.7 mo
of spending, in cash
14.7 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.3M
17% of total assets
Liabilities are 17% of assets.
Pt X · Ln 26
Independent board members
6
of 6 voting members
6 of 6 voting members are independent.
Pt VI · Ln 1a–1b
Revenue
$521K
+8% vs prior year
Spent
$804K
To programs
97%
Net assets
$6.2M
By yearFY2020–FY2025
Revenue
$521K
FY2022▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$495K
FY2021$483K
FY2022$521K
FY2023$602K
FY2024$638K
FY2025$801K
Expenses
$804K
FY2022▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$695K
FY2021$724K
FY2022$804K
FY2023$980K
FY2024$752K
FY2025$858K
Net assets
$6.2M
FY2022▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2020$6.7M
FY2021$6.4M
FY2022$6.2M
FY2023$5.8M
FY2024$5.7M
FY2025$5.6M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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 Aug 2011.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $778K Management & general 3% · $26K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice-President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Boardmember
$0Pt VII · Sec A
Boardmember
$0Pt VII · Sec A
Boardmember
$0Pt VII · Sec A
See Waterford Dublin Development INC executive salaries →

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

Provides affordable rental housing for low-income residents in Dublin, Georgia.

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1 program · $778K · in their own filed words · FY2022
01

The organization owns and operates a 56 unit rental facility for self-sufficient low-income residents.

Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 27-1073302) · Dispute this line
$778Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$521K
Ln 12
Fees for servicesLn 2g$518K
Investment incomeLn 3$3K
Money outPt IX
$804K
Ln 25
Programscol B$778K
Managementcol C$26K
Owns and owesPt X
$6.2M
net assets · Ln 32
Cash and savingsLn 1–2$985K
Total assetsLn 16$7.4M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$518K
Investment incomeLn 3$3K
Total revenueLn 12$521K
Assets in detailPt X, end of year
CashLn 1$336K
SavingsLn 2$648K
Cash and savings togetherLn 1–2$985K
Accounts receivableLn 4$18K
Land, buildings, equipmentLn 10c$6.3M
Intangible assetsLn 14$80K
Other assetsLn 15$11K
Total assetsLn 16$7.4M
LiabilitiesLn 26$1.3M
Net assetsLn 32$6.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$919K$985K
Land, buildings, equipmentLn 10c$6.6M$6.3M
Total assetsLn 16$7.7M$7.4M
LiabilitiesLn 26$1.2M$1.3M
Net assetsLn 32$6.4M$6.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$147K$147K
Management feesLn 11a$26K$26K
InterestLn 20$41K$41K
Depreciation, depletion and amortizationLn 22$292K$292K
InsuranceLn 23$87K$87K
Other expenses (24a–d)Ln 24$211K$211K
Total functional expensesLn 25$804K$778K$26K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Aug 5, 2026 $801K$858K−$57K$5.6M 990 PDF
FY2024Filed with the IRS Aug 11, 2025 $638K$752K−$115K$5.7M 990 PDF
FY2023Filed with the IRS Sep 10, 2024 $602K$980K−$378K$5.8M 990 PDF
FY2022 ViewingFiled with the IRS Nov 10, 2023 $521K$804K−$283K$6.2M 990 PDF
FY2021Filed with the IRS Nov 15, 2022 $483K$724K−$242K$6.4M 990 PDF
FY2020Filed with the IRS Oct 15, 2021 $495K$695K−$200K$6.7M 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2022 990
Part I · Summary $521,155 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $481,069$517,683
I-10 Investment incomePrior year $1,623$3,472
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $482,692$521,155
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 $0$147,063
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $724,282$656,738
I-18 Total expensesPrior year $724,282$803,801
I-19 Revenue less expensesPrior year −$241,590−$282,646
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $521,155 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $517,683$517,683
VIII-3 Investment incomeExcluded from tax $3,472$3,472
VIII-12 Total revenueRelated to mission $517,683 · Unrelated business $0 · Excluded from tax $3,472$521,155
Part IX · Statement of functional expenses $803,801 across 6 lines filed
IX-7 Other salaries and wagesPrograms $147,063$147,063
IX-11a Management feesManagement $26,251$26,251
IX-20 InterestPrograms $40,611$40,611
IX-22 Depreciation, depletion and amortizationPrograms $291,856$291,856
IX-23 InsurancePrograms $86,925$86,925
IX-24 Other expenses (24a–d)Programs $211,095$211,095
IX-25 Total functional expensesPrograms $777,550 · Management $26,251 · Fundraising $0$803,801
Part X · Balance sheet $7,437,177 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $378,141$336,455
X-2 Savings and temporary cash investmentsStart of year $540,695$648,435
X-4 Accounts receivableStart of year $32,548$18,221
X-10c Land, buildings and equipment, netStart of year $6,608,846$6,343,605
X-14 Intangible assetsStart of year $107,650$79,535
X-15 Other assetsStart of year $12,704$10,926
X-16 Total assetsStart of year $7,680,584$7,437,177
X-17 Accounts payable and accrued expensesStart of year $14,794$34,588
X-19 Deferred revenueStart of year $4,222$4,120
X-23 Secured mortgages and notes payableStart of year $640,642$639,442
X-25 Other liabilitiesStart of year $587,123$607,870
X-26 Total liabilitiesStart of year $1,246,781$1,286,020
X-27 Net assets without donor restrictionsStart of year $6,433,803$6,151,157
X-32 Total net assets or fund balancesStart of year $6,433,803$6,151,157
X-33 Total liabilities and net assetsStart of year $7,680,584$7,437,177
Part XI · Reconciliation of net assets $6,151,157 net assets at year end
XI-1 Total revenue$521,155
XI-2 Total expenses$803,801
XI-3 Revenue less expenses−$282,646
XI-4 Net assets at start of year$6,433,803
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,151,157

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

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