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Hong Lok FY2020 filing

Tax-deductible

Phoenix, AZ501(c)(3)HousingEIN 32-0255598Revenue $334K in FY2020

On file with the IRS2330 W Mission Ln Ste 10, 85021-2816 · Phoenix, AZTax-exempt since Feb 2009Publicly supported — 509(a)(2)

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To provide housing and support services for elderly and handicapped persons.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
1 of 5
filings with a surplus
Average deficit $105K a year · 29% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$30K
0.8% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$334K
Spent
$407K
To programs
86%
Net assets
$4.0M
By yearFY2020–FY2024
Revenue
$334K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$334K
FY2021$430K
FY2022$292K
FY2023$357K
FY2024$400K
Expenses
$407K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$407K
FY2021$422K
FY2022$512K
FY2023$502K
FY2024$496K
Net assets
$4.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$4.0M
FY2021$4.0M
FY2022$3.8M
FY2023$3.7M
FY2024$3.6M

From the FY2020 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2009.

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

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $350K Management & general 14% · $56K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Tony Tang
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Teresa Yung
Vice Chair
$0Pt VII · Sec A
Brenda Fung
Secretary
$0Pt VII · Sec A
Rudy Yee
Treasurer
$0Pt VII · Sec A
Joe Yue
Auditor
$0Pt VII · Sec A
See Hong Lok 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

Offers housing and support services to elderly and handicapped individuals.

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Provided by the organization

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1 program · $350K · in their own filed words · FY2020
01

This organization provided housing to elderly persons through the operation of a 42-UNIT hud 202 prac multifamily housing community in phoenix, arizona. The organization provided decent, safe, sanitary and affordable housing to 65 residents: 2% under 62; 60% between the ages 62-81; and 38% between the ages 82-93.

$350Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$334K
Ln 12
Fees for servicesLn 2g$334K
Investment incomeLn 3$41
Other incomeLn 4–11$15
Money outPt IX
$407K
Ln 25
Programscol B$350K
Managementcol C$56K
Owns and owesPt X
$4.0M
net assets · Ln 32
Cash and savingsLn 1–2$105K
Total assetsLn 16$4.1M
LiabilitiesLn 26$30K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$334K
Investment incomeLn 3$41
Other incomeLn 4–11$15
Total revenueLn 12$334K
Assets in detailPt X, end of year
CashLn 1$105K
Cash and savings togetherLn 1–2$105K
Land, buildings, equipmentLn 10c$3.6M
Other assetsLn 15$291K
Total assetsLn 16$4.1M
LiabilitiesLn 26$30K
Net assetsLn 32$4.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
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 FY20End FY20
Cash and savingsLn 1–2$105K$105K
Land, buildings, equipmentLn 10c$3.8M$3.6M
Total assetsLn 16$4.1M$4.1M
LiabilitiesLn 26$53K$30K
Net assetsLn 32$4.1M$4.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of disqualified personsLn 6$99K$95K$4K
Other employee benefitsLn 9$25K$24K$877
Payroll taxesLn 10$9K$9K$325
Management feesLn 11a$22K$22K
Legal feesLn 11b$146$146
Accounting feesLn 11c$12K$12K
Other fees for servicesLn 11g$29K$29K
Office expensesLn 13$16K$16K
OccupancyLn 16$40K$40K
TravelLn 17$284$284
Conferences, conventions and meetingsLn 19$210$210
Depreciation, depletion and amortizationLn 22$115K$115K
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$25K$24K$244
Total functional expensesLn 25$407K$350K$56K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $400K$496K−$96K$3.6M 990 PDF
FY2023 $357K$502K−$145K$3.7M 990 PDF
FY2022 $292K$512K−$219K$3.8M 990 PDF
FY2021 $430K$422K$8K$4.0M 990 PDF
FY2020 Viewing $334K$407K−$73K$4.0M 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 FY2020 990 (6 parts)
Part I · Summary $333,567 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $320,583$333,511
I-10 Investment incomePrior year −$10,041$41
I-11 Other revenuePrior year $15$15
I-12 Total revenuePrior year $310,557$333,567
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 $123,469$132,808
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $269,427$273,707
I-18 Total expensesPrior year $392,896$406,515
I-19 Revenue less expensesPrior year −$82,339−$72,948
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $333,567 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $333,511$333,511
VIII-3 Investment incomeExcluded from tax $41$41
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $15$15
VIII-12 Total revenueRelated to mission $333,511 · Unrelated business $0 · Excluded from tax $56$333,567
Part IX · Statement of functional expenses $406,515 across 14 lines filed
IX-6 Pay of disqualified personsPrograms $95,458 · Management $3,517$98,975
IX-9 Other employee benefitsPrograms $23,811 · Management $877$24,688
IX-10 Payroll taxesPrograms $8,820 · Management $325$9,145
IX-11a Management feesManagement $22,176$22,176
IX-11b Legal feesManagement $146$146
IX-11c Accounting feesManagement $12,487$12,487
IX-11g Other fees for servicesPrograms $29,200$29,200
IX-13 Office expensesManagement $15,818$15,818
IX-16 OccupancyPrograms $40,126$40,126
IX-17 TravelManagement $284$284
IX-19 Conferences, conventions and meetingsManagement $210$210
IX-22 Depreciation, depletion and amortizationPrograms $115,011$115,011
IX-23 InsurancePrograms $13,659$13,659
IX-24 Other expenses (24a–d)Programs $24,346 · Management $244$24,590
IX-25 Total functional expensesPrograms $350,431 · Management $56,084 · Fundraising $0$406,515
Part X · Balance sheet $4,050,081 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $105,267$105,231
X-4 Accounts receivableStart of year $554$545
X-9 Prepaid expenses and deferred chargesStart of year $6,137$7,314
X-10c Land, buildings and equipment, netStart of year $3,761,114$3,646,103
X-15 Other assetsStart of year $272,814$290,888
X-16 Total assetsStart of year $4,145,886$4,050,081
X-17 Accounts payable and accrued expensesStart of year $39,396$16,050
X-19 Deferred revenueStart of year $103$104
X-25 Other liabilitiesStart of year $6,650$6,650
X-26 Total liabilitiesStart of year $53,327$30,470
X-27 Net assets without donor restrictionsStart of year $4,092,559$4,019,611
X-32 Total net assets or fund balancesStart of year $4,092,559$4,019,611
X-33 Total liabilities and net assetsStart of year $4,145,886$4,050,081
Part XI · Reconciliation of net assets $4,019,611 net assets at year end
XI-1 Total revenue$333,567
XI-2 Total expenses$406,515
XI-3 Revenue less expenses−$72,948
XI-4 Net assets at start of year$4,092,559
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,019,611

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

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