Pilgrim Partners INC: Nonprofit Profile, Financials & Form 990 (EIN 34-1889800)

Revenue by fiscal year
FY2020	$336K
FY2021	$364K
FY2022	$348K
FY2023	$363K
FY2024	$393K
FY2025	$394K

Expenses by fiscal year
FY2020	$407K
FY2021	$466K
FY2022	$471K
FY2023	$456K
FY2024	$484K
FY2025	$507K

Net assets by fiscal year
FY2020	−$1.4M
FY2021	−$1.5M
FY2022	−$1.7M
FY2023	−$1.8M
FY2024	−$1.9M
FY2025	−$2.0M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2000.

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

Where the money goes

87 cents of each dollar spent went to programs.

87%

13%

Program services 87% · $444K Management & general 13% · $64K

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

2 people listed on the 990.

Part VII, Section A · reportable compensation

Rev Raymond J Bishop JR

President

$0Pt VII · Sec A

Leronya Drayton

Secretary

$0Pt VII · Sec A

See Pilgrim Partners 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 15aNo

Programs and updates

Offers affordable homes to people with low and moderate incomes.

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Provided by the organization

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1 program · $444K · in their own filed words · FY2025

01

The sole purpose is to provide subsidized moderate and low-income apartment rental housing for elderly persons through the us department of hud sections 202 and 8 programs.

$444Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$394K

Ln 12

Fees for servicesLn 2g$222K

Gifts and grantsLn 1h$163K

Investment incomeLn 3$6K

Money outPt IX

$507K

Ln 25

Programscol B$444K

Managementcol C$64K

Owns and owesPt X

−$2.0M

net assets · Ln 32

Cash and savingsLn 1–2$293K

Total assetsLn 16$2.6M

LiabilitiesLn 26$4.6M

PeoplePt VI, VII

2

listed · VII A

PaidVII A0

Voting boardVI 1a2

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$163K

Government grantsLn 1e$163K

Fees for servicesLn 2g$222K

Investment incomeLn 3$6K

Other incomeLn 4–11$4K

Total revenueLn 12$394K

Assets in detailPt X, end of year

CashLn 1$264

SavingsLn 2$292K

Cash and savings togetherLn 1–2$293K

Land, buildings, equipmentLn 10c$2.3M

Other assetsLn 15$32K

Total assetsLn 16$2.6M

LiabilitiesLn 26$4.6M

Net assetsLn 32−$2.0M

OperationsPt I, VI

EmployeesI 50

VolunteersI 62

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$282K	$293K
Land, buildings, equipmentLn 10c	$2.4M	$2.3M
Total assetsLn 16	$2.7M	$2.6M
LiabilitiesLn 26	$4.6M	$4.6M
Net assetsLn 32	−$1.9M	−$2.0M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Management feesLn 11a	$45K		$45K
Legal feesLn 11b	$150	$150
Accounting feesLn 11c	$19K		$19K
Other fees for servicesLn 11g	$66K	$66K
Advertising and promotionLn 12	$694	$694
Office expensesLn 13	$39K	$39K
OccupancyLn 16	$136K	$136K
Depreciation, depletion and amortizationLn 22	$110K	$110K
InsuranceLn 23	$49	$49
Other expenses (24a–d)Ln 24	$91K	$91K
Total functional expensesLn 25	$507K	$444K	$64K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$394K	$507K	−$114K	−$2.0M	990 PDF
FY2024	$393K	$484K	−$91K	−$1.9M	990 PDF
FY2023	$363K	$456K	−$93K	−$1.8M	990 PDF
FY2022	$348K	$471K	−$123K	−$1.7M	990 PDF
FY2021	$364K	$466K	−$102K	−$1.5M	990 PDF
FY2020	$336K	$407K	−$71K	−$1.4M	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 FY2025 990 (6 parts)

Part I · Summary $393,629 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $161,685$162,509

I-9 Program service revenuePrior year $221,965$221,944

I-10 Investment incomePrior year $5,853$5,522

I-11 Other revenuePrior year $3,650$3,654

I-12 Total revenuePrior year $393,153$393,629

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 $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $483,876$507,473

I-18 Total expensesPrior year $483,876$507,473

I-19 Revenue less expensesPrior year −$90,723−$113,844

Part VI · Governance 2 of 2 board members independent, 4 to look at

VI-1a Voting members of the governing body2

VI-1b Independent voting members2

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

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

Part VIII · Statement of revenue $393,629 across 6 lines filed

VIII-1e Government grants$162,509

VIII-1h Total contributions, gifts and grants$162,509

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $221,944$221,944

VIII-3 Investment incomeExcluded from tax $5,522$5,522

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,654$3,654

VIII-12 Total revenueRelated to mission $225,598 · Unrelated business $0 · Excluded from tax $5,522$393,629

Part IX · Statement of functional expenses $507,473 across 10 lines filed

IX-11a Management feesManagement $44,799$44,799

IX-11b Legal feesPrograms $150$150

IX-11c Accounting feesManagement $18,944$18,944

IX-11g Other fees for servicesPrograms $66,441$66,441

IX-12 Advertising and promotionPrograms $694$694

IX-13 Office expensesPrograms $38,901$38,901

IX-16 OccupancyPrograms $136,437$136,437

IX-22 Depreciation, depletion and amortizationPrograms $110,299$110,299

IX-23 InsurancePrograms $49$49

IX-24 Other expenses (24a–d)Programs $90,759$90,759

IX-25 Total functional expensesPrograms $443,730 · Management $63,743 · Fundraising $0$507,473

Part X · Balance sheet $2,641,130 assets, 14 lines filed

X-1 Cash, non-interest-bearingStart of year $5,400$264

X-2 Savings and temporary cash investmentsStart of year $277,045$292,240

X-4 Accounts receivableStart of year $118$592

X-9 Prepaid expenses and deferred chargesStart of year $3,030$2,311

X-10c Land, buildings and equipment, netStart of year $2,423,620$2,313,321

X-15 Other assetsStart of year $18,231$32,402

X-16 Total assetsStart of year $2,727,444$2,641,130

X-17 Accounts payable and accrued expensesStart of year $49,453$72,671

X-19 Deferred revenueStart of year $30$3,757

X-25 Other liabilitiesStart of year $16,379$16,964

X-26 Total liabilitiesStart of year $4,578,162$4,605,692

X-27 Net assets without donor restrictionsStart of year −$1,850,718−$1,964,562

X-32 Total net assets or fund balancesStart of year −$1,850,718−$1,964,562

X-33 Total liabilities and net assetsStart of year $2,727,444$2,641,130

Part XI · Reconciliation of net assets −$1,964,562 net assets at year end

XI-1 Total revenue$393,629

XI-2 Total expenses$507,473

XI-3 Revenue less expenses−$113,844

XI-4 Net assets at start of year−$1,850,718

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year−$1,964,562

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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