Ihomes INC FY2021 filing

Tax-deductible

Columbia, MD501(c)(3)Since 2009HousingEIN 27-1254184Revenue $92K in FY2021

On file with the IRShumanim.org6355 Woodside CT, 21046-1071 · Columbia, MDTax-exempt since Apr 2010Publicly supported charity — 170(b)(1)(A)(vi)

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Ihomes, inc's primary exempt purpose is to acquire, develop and manage real estate which will be rented to adults with developmental disabilities and limited income.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
$20K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $251K a year · 54% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$20K
to officers and key staff · 17% of spending
Fine: pay to officers and key staff is 17% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $200K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.1M
82% of total assets
Concern: liabilities are 82% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$92K
-70% vs prior year
Spent
$113K
To programs
96%
Net assets
$444K
By yearFY2020–FY2024
Revenue
$92K
FY2021▼ -70%
Tap a bar for its year
Revenue by fiscal year
FY2020$305K
FY2021$92K
FY2022$346K
FY2023$108K
FY2024$1.5M
FY2024$751K
Expenses
$113K
FY2021▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$111K
FY2021$113K
FY2022$118K
FY2023$256K
FY2024$451K
FY2024$479K
Net assets
$444K
FY2021▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020$465K
FY2021$444K
FY2022$672K
FY2023$523K
FY2024$1.5M
FY2024$1.4M

From the FY2021 Form 990 (year ending June 2021) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Apr 2010.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $109K Management & general 4% · $4K

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

5 people listed on the 990; $20K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President
$19,712Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Patrick Lloyd’s $117K as Director of Community Development is at the 90th percentile of top reported officer pay among 851 $100K–1M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2022FY2021FY2020
Patrick Lloyd$116,878———
Judi Olinger——$19,712$25,841
Daniel Frasco—$11,538——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Ihomes 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develops and manages affordable rental housing for adults with developmental disabilities.

Provided by the organization

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1 program · $109K · in their own filed words · FY2020
01

During the period ended june 30, 2021 the organization operated residential units located in howard county. Each unit is licensed to be rented to up to 4 individuals with developmental disabilities and income limitations.

$109Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$200K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$92K
Ln 12
Gifts and grantsLn 1h$65K
Fees for servicesLn 2g$27K
Money outPt IX
$113K
Ln 25
Programscol B$109K
Managementcol C$4K
Owns and owesPt X
$444K
net assets · Ln 32
Cash and savingsLn 1–2$26K
Total assetsLn 16$2.5M
LiabilitiesLn 26$2.1M
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$65K
Government grantsLn 1e$65K
Fees for servicesLn 2g$27K
Total revenueLn 12$92K
Assets in detailPt X, end of year
CashLn 1$26K
Cash and savings togetherLn 1–2$26K
Land, buildings, equipmentLn 10c$2.3M
Other assetsLn 15$159K
Total assetsLn 16$2.5M
LiabilitiesLn 26$2.1M
Net assetsLn 32$444K
OperationsPt I, VI
EmployeesI 51
VolunteersI 65
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$100K$26K
Land, buildings, equipmentLn 10c$2.4M$2.3M
Total assetsLn 16$2.6M$2.5M
LiabilitiesLn 26$2.1M$2.1M
Net assetsLn 32$465K$444K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$25K$21K$4K
Payroll taxesLn 10$2K$2K$287
Legal feesLn 11b$456$456
OccupancyLn 16$34K$34K
Depreciation, depletion and amortizationLn 22$45K$45K
InsuranceLn 23$7K$7K
Total functional expensesLn 25$113K$109K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.5M$451K$1.0M$1.5M 990 PDF
FY2023 $108K$256K−$148K$523K 990 PDF
FY2022 $346K$118K$228K$672K 990 PDF
FY2021 Viewing $92K$113K−$21K$444K 990 PDF
FY2020 $305K$111K$194K$465K 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 $92,025 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $250,075$65,202
I-9 Program service revenuePrior year $55,311$26,823
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $305,386$92,025
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 $20,284$26,912
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $90,727$86,170
I-18 Total expensesPrior year $111,011$113,082
I-19 Revenue less expensesPrior year $194,375−$21,057
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $92,025 across 4 lines filed
VIII-1e Government grants$65,202
VIII-1h Total contributions, gifts and grants$65,202
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $26,823$26,823
VIII-12 Total revenueRelated to mission $26,823 · Unrelated business $0 · Excluded from tax $0$92,025
Part IX · Statement of functional expenses $113,082 across 6 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $21,250 · Management $3,750$25,000
IX-10 Payroll taxesPrograms $1,625 · Management $287$1,912
IX-11b Legal feesPrograms $456$456
IX-16 OccupancyPrograms $34,016$34,016
IX-22 Depreciation, depletion and amortizationPrograms $44,910$44,910
IX-23 InsurancePrograms $6,788$6,788
IX-25 Total functional expensesPrograms $109,045 · Management $4,037 · Fundraising $0$113,082
Part X · Balance sheet $2,525,165 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $100,063$25,679
X-4 Accounts receivableStart of year $10,841$1,313
X-9 Prepaid expenses and deferred chargesStart of year $230$230
X-10c Land, buildings and equipment, netStart of year $2,364,807$2,338,624
X-15 Other assetsStart of year $120,105$159,319
X-16 Total assetsStart of year $2,596,046$2,525,165
X-19 Deferred revenueStart of year $1,235,915$1,189,440
X-25 Other liabilitiesStart of year $1,877$1,877
X-26 Total liabilitiesStart of year $2,131,138$2,081,314
X-27 Net assets without donor restrictionsStart of year $464,908$443,851
X-32 Total net assets or fund balancesStart of year $464,908$443,851
X-33 Total liabilities and net assetsStart of year $2,596,046$2,525,165
Part XI · Reconciliation of net assets $443,851 net assets at year end
XI-1 Total revenue$92,025
XI-2 Total expenses$113,082
XI-3 Revenue less expenses−$21,057
XI-4 Net assets at start of year$464,908
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$443,851

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

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