Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Aug 2000.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
79 cents of each dollar spent went to programs.
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
9 people listed on the 990; $150K paid to officers and key staff.
Cornelius Sanders’s $125K as Executive Director is at the 55th percentile of top reported officer pay among 2036 $1–10M 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 · 4 named individuals · Part VII
| Name | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|
| Cornelius Sanders | $124,668 | $124,307 | $96,660 | $98,254 | — |
| C Sanders | — | — | — | — | $94,815 |
| Marcie Fisher | — | $24,465 | $46,711 | — | — |
| Reva Marshall | $25,017 | — | — | — | — |
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.
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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
- Loans to or from officersSch L · Pt II1 listed
Programs and updates
Builds and preserves housing, fosters economic growth, and strengthens community life.
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Provided affordable housing to 160 clients in the north memphis community. Our wholly-owned subsidiary, harmony woods, L.P., provided affordable housing to 80 tenants. We also manage april woods apartments and cypress gardens, which consist of 118 units and 24 units
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $102K | $59K |
| InvestmentsLn 11–13 | $100 | $100 |
| Land, buildings, equipmentLn 10c | $6.5M | $6.8M |
| Total assetsLn 16 | $7.2M | $7.2M |
| LiabilitiesLn 26 | $902K | $869K |
| Net assetsLn 32 | $6.2M | $6.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $150K | $150K | ||
| Other salaries and wagesLn 7 | $622K | $314K | $309K | |
| Other employee benefitsLn 9 | $39K | $3K | $36K | |
| Payroll taxesLn 10 | $52K | $52K | ||
| Legal feesLn 11b | $31K | $3K | $28K | |
| Accounting feesLn 11c | $3K | $255 | $2K | |
| Advertising and promotionLn 12 | $7K | $7K | ||
| OccupancyLn 16 | $593K | $593K | ||
| TravelLn 17 | $57K | $46K | $11K | |
| InterestLn 20 | $24K | $24K | ||
| Depreciation, depletion and amortizationLn 22 | $273K | $219K | $55K | |
| InsuranceLn 23 | $215K | $172K | $43K | |
| Other expenses (24a–d)Ln 24 | $1.3M | $1.1M | $190K | |
| All other expensesLn 24e | $99K | $60K | $39K | |
| Total functional expensesLn 25 | $3.5M | $2.7M | $713K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2023 Latest Viewing | $3.5M | $3.5M | $49K | $6.3M | 990 PDF |
| FY2022 | $4.3M | $3.2M | $1.1M | $6.2M | 990 PDF |
| FY2021 | $3.0M | $3.0M | $59K | $5.2M | 990 PDF |
| FY2020 | $3.7M | $2.8M | $945K | $5.1M | 990 PDF |
| FY2019 | $2.5M | $2.4M | $136K | $4.2M | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (5 parts)
Part I · Summary $3,499,542 revenue, 12 lines filed
Part VIII · Statement of revenue $3,499,542 across 5 lines filed
Part IX · Statement of functional expenses $3,450,236 across 14 lines filed
Part X · Balance sheet $7,218,735 assets, 12 lines filed
Part XI · Reconciliation of net assets $6,349,710 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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