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Perry Farm Development Co FY2023 filing

Tax-deductible

Harbor Spgs, MI501(c)(3)Housing EIN 35-2183523Revenue $2.6M in FY2023

On file with the IRSpvm.org4241 Village Cir, 49740-9040 · Harbor Spgs, MITax-exempt since Aug 2004Publicly supported charity — 170(b)(1)(A)(vi)

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To serve seniors of all faiths & to create new possibilities for quality senior living.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
$68K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · 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
2 of 5
filings with a surplus
Average deficit $74K a year · 4% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$68K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $53K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$801K
69% of total assets
Worth a look: liabilities are 69% of assets; over 65%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.6M
+85% vs prior year
Spent
$2.6M
To programs
72%
Net assets
$359K
By yearFY2020–FY2024
Revenue
$2.6M
FY2023▲ +85%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$1.4M
FY2022$1.4M
FY2023$2.6M
FY2024$3.1M
Expenses
$2.6M
FY2023▲ +56%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.4M
FY2021$1.4M
FY2022$1.7M
FY2023$2.6M
FY2024$3.1M
Net assets
$359K
FY2023▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2020$670K
FY2021$709K
FY2022$409K
FY2023$359K
FY2024$297K

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 Aug 2004.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $1.9M Management & general 28% · $730K

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

12 people listed on the 990; $68K paid to officers and key staff.

Part VII, Section A · reportable compensation
Barbara Woodward-Boonstra
Executive Director
$68,241Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Emil Muccino
Director
$0Pt VII · Sec A
Tim Knapp
Director
$0Pt VII · Sec A
Mark Slater
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Edy Stoughton
Secretary
$0Pt VII · Sec A

Barbara Bear’s $69K as Executive Director is at the 12th 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 · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Barbara Bear$69,378————
Barbara Woodward-Boonstra—$68,241$54,749——
Mary Catherine Hannah———$24,953$25,415

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

Programs and updates

Provides quality senior living options and services for older adults of all faiths.

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Provided by the organization

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1 program · $1.9M · in their own filed words · FY2023
01

Perry farm center consists of six assisted living units, a wellness center and a community center. It provides certain programs, services, and assisted living care to the residents and older persons in the surrounding area. Perry farm development co opened a memory care facility housing 20 beds in january 2023.

$1.9Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Presbyterian Villages of Michigan FoundationFY2024$53K
Total grants receivedfrom 1 funder$53K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.6M
Ln 12
Fees for servicesLn 2g$2.3M
Other incomeLn 4–11$148K
Investment incomeLn 3$94K
Money outPt IX
$2.6M
Ln 25
Programscol B$1.9M
Managementcol C$730K
Owns and owesPt X
$359K
net assets · Ln 32
Cash and savingsLn 1–2$178K
Total assetsLn 16$1.2M
LiabilitiesLn 26$801K
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$52K
Fees for servicesLn 2g$2.3M
Investment incomeLn 3$94K
Other incomeLn 4–11$148K
Gains on assetsLn 7$94K
Total revenueLn 12$2.6M
Assets in detailPt X, end of year
CashLn 1$101K
SavingsLn 2$77K
Cash and savings togetherLn 1–2$178K
Land, buildings, equipmentLn 10c$830K
Other assetsLn 15$17K
Total assetsLn 16$1.2M
LiabilitiesLn 26$801K
Net assetsLn 32$359K
OperationsPt I, VI
EmployeesI 551
VolunteersI 617
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 FY23End FY23
Cash and savingsLn 1–2$182K$178K
Land, buildings, equipmentLn 10c$1.3M$830K
Total assetsLn 16$1.6M$1.2M
LiabilitiesLn 26$1.2M$801K
Net assetsLn 32$409K$359K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$70K$67K$3K
Other salaries and wagesLn 7$895K$861K$34K
Pension plan contributionsLn 8$6K$6K$240
Other employee benefitsLn 9$64K$61K$2K
Payroll taxesLn 10$69K$66K$3K
Management feesLn 11a$101K$101K
Legal feesLn 11b$3K$3K
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$241K$241K
Advertising and promotionLn 12$74K$74K
Office expensesLn 13$75K$51K$24K
OccupancyLn 16$259K$251K$8K
TravelLn 17$7K$7K
InterestLn 20$40K$40K
Depreciation, depletion and amortizationLn 22$92K$92K
InsuranceLn 23$22K$22K
Other expenses (24a–d)Ln 24$613K$188K$424K
Total functional expensesLn 25$2.6M$1.9M$730K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.1M$3.1M−$61K$297K 990 PDF
FY2023 Viewing $2.6M$2.6M−$50K$359K 990 PDF
FY2022 $1.4M$1.7M−$300K$409K 990 PDF
FY2021 $1.4M$1.4M$39K$709K 990 PDF
FY2020 $1.4M$1.4M$5K$670K 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 FY2023 990 (6 parts)
Part I · Summary $2,586,180 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $14,800$52,033
I-9 Program service revenuePrior year $1,290,894$2,291,865
I-10 Investment incomePrior year $34$93,928
I-11 Other revenuePrior year $88,699$148,354
I-12 Total revenuePrior year $1,394,427$2,586,180
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 $780,686$1,104,003
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $913,868$1,532,503
I-18 Total expensesPrior year $1,694,554$2,636,506
I-19 Revenue less expensesPrior year −$300,127−$50,326
Part VI · Governance 11 of 11 board members independent, 3 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,586,180 across 7 lines filed
Lines not itemized here account for $150,244 of total revenue; see the IRS return.
VIII-1d Related organizations$52,033
VIII-1h Total contributions, gifts and grants$52,033
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,143,181$2,143,181
VIII-3 Investment incomeExcluded from tax $67$67
VIII-7 Net gain or loss on sales of assetsExcluded from tax $93,861$93,861
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $146,794$146,794
VIII-12 Total revenueRelated to mission $2,440,219 · Unrelated business $0 · Excluded from tax $93,928$2,586,180
Part IX · Statement of functional expenses $2,636,506 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $67,192 · Management $2,671$69,863
IX-7 Other salaries and wagesPrograms $860,734 · Management $34,210$894,944
IX-8 Pension plan contributionsPrograms $6,027 · Management $240$6,267
IX-9 Other employee benefitsPrograms $61,397 · Management $2,440$63,837
IX-10 Payroll taxesPrograms $66,451 · Management $2,641$69,092
IX-11a Management feesManagement $100,742$100,742
IX-11b Legal feesManagement $3,024$3,024
IX-11c Accounting feesManagement $5,750$5,750
IX-11g Other fees for servicesPrograms $240,569$240,569
IX-12 Advertising and promotionManagement $74,235$74,235
IX-13 Office expensesPrograms $50,976 · Management $23,786$74,762
IX-16 OccupancyPrograms $251,222 · Management $8,216$259,438
IX-17 TravelManagement $7,266$7,266
IX-20 InterestManagement $40,374$40,374
IX-22 Depreciation, depletion and amortizationPrograms $91,840$91,840
IX-23 InsurancePrograms $21,944$21,944
IX-24 Other expenses (24a–d)Programs $188,448 · Management $424,111$612,559
IX-25 Total functional expensesPrograms $1,906,800 · Management $729,706 · Fundraising $0$2,636,506
Part X · Balance sheet $1,160,128 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $98,588$100,799
X-2 Savings and temporary cash investmentsStart of year $83,674$77,427
X-4 Accounts receivableStart of year $51,671$134,672
X-10c Land, buildings and equipment, netStart of year $1,319,879$829,890
X-15 Other assetsStart of year $12,838$17,340
X-16 Total assetsStart of year $1,566,650$1,160,128
X-17 Accounts payable and accrued expensesStart of year $283,838$87,393
X-25 Other liabilitiesStart of year $8,000$7,220
X-26 Total liabilitiesStart of year $1,157,606$801,410
X-27 Net assets without donor restrictionsStart of year $409,044$358,718
X-32 Total net assets or fund balancesStart of year $409,044$358,718
X-33 Total liabilities and net assetsStart of year $1,566,650$1,160,128
Part XI · Reconciliation of net assets $358,718 net assets at year end
XI-1 Total revenue$2,586,180
XI-2 Total expenses$2,636,506
XI-3 Revenue less expenses−$50,326
XI-4 Net assets at start of year$409,044
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$358,718

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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