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Area III Properties INC FY2021 filing

Not tax-deductible

Fort Wayne, INMutual-benefit / member-servingSince 2001Community Development EIN 35-2143576Revenue $596K in FY2021

On file with the IRS8101 W Jefferson Blvd, 46804-4163 · Fort Wayne, INTax-exempt since Nov 2001

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To hold title to property, collecting income therefrom and turning over the entire amount, less expenses, to aging and in-home services of northeast indiana, INC.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $82K a year · 13% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 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
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.8M
72% of total assets
Worth a look: liabilities are 72% of assets; over 65%.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$596K
+47% vs prior year
Spent
$461K
To programs
100%
Net assets
$697K
By yearFY2020–FY2025
Revenue
$596K
FY2021▲ +47%
Tap a bar for its year
Revenue by fiscal year
FY2020$406K
FY2021$596K
FY2022$596K
FY2023$618K
FY2024$645K
FY2025$1.0M
Expenses
$461K
FY2021▲ +25%
Tap a bar for its year
Expenses by fiscal year
FY2020$370K
FY2021$461K
FY2022$595K
FY2023$597K
FY2024$613K
FY2025$756K
Net assets
$697K
FY2021▲ +24%
Tap a bar for its year
Net assets by fiscal year
FY2020$562K
FY2021$697K
FY2022$698K
FY2023$719K
FY2024$752K
FY2025$1.0M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 2001.

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% · $461K

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

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Kelly Abouhalkah
Board Member
$0Pt VII · Sec A
Abraham Schwab
Board Member
$0Pt VII · Sec A
Fen-Lei Chang
Board Member
$0Pt VII · Sec A
Jesica Thorson
Board Member
$0Pt VII · Sec A
John W Rogers
Board Member
$0Pt VII · Sec A
Barbara Frymier
Board Member
$0Pt VII · Sec A
Mary Lee Mitchell
Board Member
$0Pt VII · Sec A
Zachary Benedict
Board Member
$0Pt VII · Sec A
See Area III Properties 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 15aYes

Programs and updates

Manages property, collects income, and gives it to aging and in-home services.

Questions for Area III Properties INC

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Provided by the organization

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1 program · $461K · in their own filed words · FY2020
01

Lease facilities to aging and in-home services of northeast indiana, inc. , a 501 (c) (3) organization that provides services to older adults and persons with disabilities.

$461Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$596K
Ln 12
Fees for servicesLn 2g$596K
Money outPt IX
$461K
Ln 25
Programscol B$461K
Owns and owesPt X
$697K
net assets · Ln 32
Cash and savingsLn 1–2$44K
Total assetsLn 16$2.5M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$596K
Total revenueLn 12$596K
Assets in detailPt X, end of year
CashLn 1$44K
Cash and savings togetherLn 1–2$44K
Land, buildings, equipmentLn 10c$2.3M
Total assetsLn 16$2.5M
LiabilitiesLn 26$1.8M
Net assetsLn 32$697K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$176K$44K
Land, buildings, equipmentLn 10c$2.4M$2.3M
Total assetsLn 16$2.6M$2.5M
LiabilitiesLn 26$2.0M$1.8M
Net assetsLn 32$562K$697K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$35K$35K
Other fees for servicesLn 11g$314$314
Office expensesLn 13$301$301
OccupancyLn 16$231K$231K
TravelLn 17$1$1
Conferences, conventions and meetingsLn 19$86$86
InterestLn 20$77K$77K
Depreciation, depletion and amortizationLn 22$113K$113K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$461K$461K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.0M$756K$264K$1.0M 990 PDF
FY2024 $645K$613K$32K$752K 990 PDF
FY2023 $618K$597K$21K$719K 990 PDF
FY2022 $596K$595K$1K$698K 990 PDF
FY2021 Viewing $596K$461K$135K$697K 990 PDF
FY2020 $406K$370K$36K$562K 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 FY2021 990 (6 parts)
Part I · Summary $596,124 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $444,546$596,124
I-10 Investment incomePrior year −$38,128$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $406,418$596,124
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$35,083
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $369,953$426,009
I-18 Total expensesPrior year $369,953$461,092
I-19 Revenue less expensesPrior year $36,465$135,032
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $596,124 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $596,124$596,124
VIII-12 Total revenueRelated to mission $596,124 · Unrelated business $0 · Excluded from tax $0$596,124
Part IX · Statement of functional expenses $461,092 across 10 lines filed
IX-7 Other salaries and wagesPrograms $35,083$35,083
IX-11g Other fees for servicesPrograms $314$314
IX-13 Office expensesPrograms $301$301
IX-16 OccupancyPrograms $230,810$230,810
IX-17 TravelPrograms $1$1
IX-19 Conferences, conventions and meetingsPrograms $86$86
IX-20 InterestPrograms $77,146$77,146
IX-22 Depreciation, depletion and amortizationPrograms $112,778$112,778
IX-23 InsurancePrograms $3,507$3,507
IX-24 Other expenses (24a–d)Programs $1,066$1,066
IX-25 Total functional expensesPrograms $461,092 · Management $0 · Fundraising $0$461,092
Part X · Balance sheet $2,525,984 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $176,300$43,641
X-4 Accounts receivableStart of year $0$199,557
X-10c Land, buildings and equipment, netStart of year $2,378,900$2,282,786
X-16 Total assetsStart of year $2,555,200$2,525,984
X-17 Accounts payable and accrued expensesStart of year $186,461$76,852
X-26 Total liabilitiesStart of year $1,993,282$1,829,034
X-27 Net assets without donor restrictionsStart of year $561,918$696,950
X-32 Total net assets or fund balancesStart of year $561,918$696,950
X-33 Total liabilities and net assetsStart of year $2,555,200$2,525,984
Part XI · Reconciliation of net assets $696,950 net assets at year end
XI-1 Total revenue$596,124
XI-2 Total expenses$461,092
XI-3 Revenue less expenses$135,032
XI-4 Net assets at start of year$561,918
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$696,950

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

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