Gran Signora Development Corp FY2021 filing

Tax-deductible

Ashtatabula, OH501(c)(3)EIN 34-1298874

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Provide low/moderate housing for the elderly or handicapped.

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $34K a year · 8% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.3M
347% of total assets
Concern: liabilities are 347% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$419K
-0.2% vs prior year
Spent
$378K
To programs
75%
Net assets
−$931K
By yearFY2020–FY2023
Revenue
$419K
FY2021-0.2%
Revenue by fiscal year
FY2020$420K
FY2021$419K
FY2022$397K
FY2023$427K
Expenses
$378K
FY2021▼ -3%
Expenses by fiscal year
FY2020$391K
FY2021$378K
FY2022$370K
FY2023$388K
Net assets
−$931K
FY2021▲ +4%
Net assets by fiscal year
FY2020−$972K
FY2021−$931K
FY2022−$905K
FY2023−$866K

From the FY2021 Form 990 · see the original

You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Jun 1980.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $284K Management & general 25% · $94K

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

7 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
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
See Gran Signora Development Corp 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 affordable housing for seniors and people with disabilities.

Provided by the organization

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1 program service account for $284K of program spending, described in the organization's own filed words · FY2021.
01

To provide housing for the elderly of handicapped who have low to moderate income.

$284Kprogram expense

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By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$419K
Ln 12
Gifts and grantsLn 1h$207K
Fees for servicesLn 2g$204K
Other incomeLn 4–11$8K
Money outPt IX
$378K
Ln 25
Programscol B$284K
Managementcol C$94K
Owns and owesPt X
−$931K
net assets · Ln 32
Cash and savingsLn 1–2$5K
Total assetsLn 16$377K
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$207K
Government grantsLn 1e$207K
Fees for servicesLn 2g$204K
Investment incomeLn 3$163
Other incomeLn 4–11$8K
Total revenueLn 12$419K
Assets in detailPt X, end of year
CashLn 1$5K
Cash and savings togetherLn 1–2$5K
Land, buildings, equipmentLn 10c$168K
Other assetsLn 15$186K
Total assetsLn 16$377K
LiabilitiesLn 26$1.3M
Net assetsLn 32−$931K
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$4K$5K
Land, buildings, equipmentLn 10c$171K$168K
Total assetsLn 16$372K$377K
LiabilitiesLn 26$1.3M$1.3M
Net assetsLn 32−$972K−$931K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$60K$20K$40K
Payroll taxesLn 10$6K$6K
Management feesLn 11a$28K$28K
Accounting feesLn 11c$7K$7K
Advertising and promotionLn 12$150$150
Office expensesLn 13$19K$19K
OccupancyLn 16$64K$64K
InterestLn 20$64K$64K
Depreciation, depletion and amortizationLn 22$8K$8K
InsuranceLn 23$27K$27K
Other expenses (24a–d)Ln 24$93K$93K
All other expensesLn 24e$3K$2K$731
Total functional expensesLn 25$378K$284K$94K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $427K$388K$39K−$866K 990 PDF
FY2022 $397K$370K$26K−$905K 990 PDF
FY2021 Viewing $419K$378K$41K−$931K 990 PDF
FY2020 $420K$391K$29K−$972K 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 (4 parts)
Part VIII · Statement of revenue $419,066 across 6 lines filed
VIII-1e Government grants$207,272
VIII-1h Total contributions, gifts and grants$207,272
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $203,811$203,811
VIII-3 Investment incomeRelated to mission $163$163
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $7,820$7,820
VIII-12 Total revenueRelated to mission $211,794$419,066
Part IX · Statement of functional expenses $378,315 across 12 lines filed
IX-7 Other salaries and wagesPrograms $20,250 · Management $39,500$59,750
IX-10 Payroll taxesPrograms $5,654$5,654
IX-11a Management feesManagement $27,625$27,625
IX-11c Accounting feesManagement $6,850$6,850
IX-12 Advertising and promotionManagement $150$150
IX-13 Office expensesManagement $19,266$19,266
IX-16 OccupancyPrograms $64,088$64,088
IX-20 InterestPrograms $64,155$64,155
IX-22 Depreciation, depletion and amortizationPrograms $8,291$8,291
IX-23 InsurancePrograms $27,121$27,121
IX-24 Other expenses (24a–d)Programs $92,634$92,634
IX-24e All other expensesPrograms $2,000 · Management $731$2,731
IX-25 Total functional expensesPrograms $284,193 · Management $94,122 · Fundraising $0$378,315
Part X · Balance sheet $376,779 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $4,009$5,481
X-9 Prepaid expenses and deferred chargesStart of year $16,850$18,052
X-10c Land, buildings and equipment, netStart of year $170,790$167,577
X-15 Other assetsStart of year $180,391$185,669
X-16 Total assetsStart of year $372,040$376,779
X-17 Accounts payable and accrued expensesStart of year $58,292$56,557
X-25 Other liabilitiesStart of year $17,291$16,511
X-26 Total liabilitiesStart of year $1,344,108$1,308,096
X-27 Net assets without donor restrictionsStart of year −$972,068−$931,317
X-32 Total net assets or fund balancesStart of year −$972,068−$931,317
X-33 Total liabilities and net assetsStart of year $372,040$376,779
Part XI · Reconciliation of net assets −$931,317 net assets at year end
XI-1 Total revenue$419,066
XI-2 Total expenses$378,315
XI-3 Revenue less expenses$40,751
XI-4 Net assets at start of year−$972,068
XI-10 Net assets at end of year−$931,317

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

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