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Sky Development Corporation FY2020 filing

Tax-deductible

Mobile, AL501(c)(3)Housing EIN 31-1653360Revenue $85K in FY2020

On file with the IRSvoase.org1204 Hillcrest Rd, 36695-3930 · Mobile, ALTax-exempt since Apr 2012Publicly supported — 509(a)(2)

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To own and operate a 24-unit apartment project located in cullman, alabama that provides housing and supportive services to low-income elderly people.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · 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
0 of 5
filings with a surplus
Average deficit $38K a year · 41% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$75K
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$85K
Spent
$115K
To programs
100%
Net assets
$695K
By yearFY2020–FY2024
Revenue
$85K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$85K
FY2021$84K
FY2022$87K
FY2023$97K
FY2024$116K
Expenses
$115K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$115K
FY2021$116K
FY2022$127K
FY2023$142K
FY2024$160K
Net assets
$695K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$695K
FY2021$663K
FY2022$623K
FY2023$578K
FY2024$534K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Exemption reinstated (2010-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Apr 2012.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $115K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Susan Knight
Director
$0Pt VII · Sec A
Ken Cumbie
Secretary/Treasurer
$0Pt VII · Sec A
Lee Metzger
Director
$0Pt VII · Sec A
Benita Johnson
Assistant Secretary
$0Pt VII · Sec A
See Sky Development Corporation 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

Provides housing and support to low-income seniors in Cullman, Alabama.

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1 program · $115K · in their own filed words · FY2020
01

To own and operate a 24-UNIT apartment project located in cullman, alabama that provides housing and supportive services to low-income elderly people.

$115Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$85K
Ln 12
Fees for servicesLn 2g$84K
Other incomeLn 4–11$969
Investment incomeLn 3$7
Money outPt IX
$115K
Ln 25
Programscol B$115K
Owns and owesPt X
$695K
net assets · Ln 32
Cash and savingsLn 1–2$3K
Total assetsLn 16$770K
LiabilitiesLn 26$75K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$84K
Investment incomeLn 3$7
Other incomeLn 4–11$969
Total revenueLn 12$85K
Assets in detailPt X, end of year
CashLn 1$3K
Cash and savings togetherLn 1–2$3K
Land, buildings, equipmentLn 10c$690K
Other assetsLn 15$72K
Total assetsLn 16$770K
LiabilitiesLn 26$75K
Net assetsLn 32$695K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$2K$3K
Land, buildings, equipmentLn 10c$724K$690K
Total assetsLn 16$799K$770K
LiabilitiesLn 26$74K$75K
Net assetsLn 32$725K$695K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$10K$10K
Other employee benefitsLn 9$409$409
Payroll taxesLn 10$821$821
Management feesLn 11a$13K$13K
Accounting feesLn 11c$6K$6K
Advertising and promotionLn 12$74$74
Office expensesLn 13$5K$5K
OccupancyLn 16$32K$32K
Conferences, conventions and meetingsLn 19$323$323
Depreciation, depletion and amortizationLn 22$36K$36K
InsuranceLn 23$11K$11K
Other expenses (24a–d)Ln 24$72$72
Total functional expensesLn 25$115K$115K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $116K$160K−$44K$534K 990 PDF
FY2023 $97K$142K−$45K$578K 990 PDF
FY2022 $87K$127K−$40K$623K 990 PDF
FY2021 $84K$116K−$32K$663K 990 PDF
FY2020 Viewing $85K$115K−$30K$695K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $84,945 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $76,304$83,969
I-10 Investment incomePrior year $6$7
I-11 Other revenuePrior year $787$969
I-12 Total revenuePrior year $77,097$84,945
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 $10,584$11,196
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $102,294$103,769
I-18 Total expensesPrior year $112,878$114,965
I-19 Revenue less expensesPrior year −$35,781−$30,020
Part VI · Governance 9 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $84,945 across 4 lines filed
Lines not itemized here account for $37,863 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $46,106$46,106
VIII-3 Investment incomeExcluded from tax $7$7
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $969$969
VIII-12 Total revenueRelated to mission $84,938 · Unrelated business $0 · Excluded from tax $7$84,945
Part IX · Statement of functional expenses $114,965 across 12 lines filed
IX-7 Other salaries and wagesPrograms $9,966$9,966
IX-9 Other employee benefitsPrograms $409$409
IX-10 Payroll taxesPrograms $821$821
IX-11a Management feesPrograms $13,315$13,315
IX-11c Accounting feesPrograms $6,100$6,100
IX-12 Advertising and promotionPrograms $74$74
IX-13 Office expensesPrograms $5,130$5,130
IX-16 OccupancyPrograms $32,376$32,376
IX-19 Conferences, conventions and meetingsPrograms $323$323
IX-22 Depreciation, depletion and amortizationPrograms $35,541$35,541
IX-23 InsurancePrograms $10,838$10,838
IX-24 Other expenses (24a–d)Programs $72$72
IX-25 Total functional expensesPrograms $114,965 · Management $0 · Fundraising $0$114,965
Part X · Balance sheet $770,197 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,544$2,811
X-4 Accounts receivableStart of year $83$122
X-9 Prepaid expenses and deferred chargesStart of year $6,089$5,384
X-10c Land, buildings and equipment, netStart of year $723,779$689,789
X-15 Other assetsStart of year $67,519$72,091
X-16 Total assetsStart of year $799,014$770,197
X-17 Accounts payable and accrued expensesStart of year $73,807$75,075
X-19 Deferred revenueStart of year $69$4
X-26 Total liabilitiesStart of year $73,876$75,079
X-27 Net assets without donor restrictionsStart of year $725,138$695,118
X-32 Total net assets or fund balancesStart of year $725,138$695,118
X-33 Total liabilities and net assetsStart of year $799,014$770,197
Part XI · Reconciliation of net assets $695,118 net assets at year end
XI-1 Total revenue$84,945
XI-2 Total expenses$114,965
XI-3 Revenue less expenses−$30,020
XI-4 Net assets at start of year$725,138
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$695,118

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

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