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Thresholds Housing INC FY2023 filing

Tax-deductible

Chicago, IL501(c)(3)Since 1980Mental HealthEIN 36-3071248Revenue $116K in FY2023

On file with the IRSthresholds.org4101 N Ravenswood Ave, 60613-2193 · Chicago, ILTax-exempt since Aug 1980Supporting organization — 509(a)(3)

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Thresholds Housing, INC. (project) is a nonprofit social service agency which provides Housing facilities and services specially designed to meet the physical, social and psychological needs of individuals facing the challenge of recovery from severe and persistent mental illness.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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 $14K a year · 9% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$556K
82% of total assets
Concern: liabilities are 82% of assets; over 80%.
Pt X · Ln 26
Independent board members
47
of 47 voting members
Looks good: 47 of 47 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$116K
-32% vs prior year
Spent
$174K
To programs
89%
Net assets
$124K
By yearFY2020–FY2024
Revenue
$116K
FY2023▼ -32%
Tap a bar for its year
Revenue by fiscal year
FY2020$167K
FY2021$169K
FY2022$172K
FY2023$116K
FY2024$174K
FY2024$184K
Expenses
$174K
FY2023▼ -17%
Tap a bar for its year
Expenses by fiscal year
FY2020$151K
FY2021$144K
FY2022$209K
FY2023$174K
FY2024$191K
FY2024$184K
Net assets
$124K
FY2023▼ -32%
Tap a bar for its year
Net assets by fiscal year
FY2020$195K
FY2021$220K
FY2022$183K
FY2023$124K
FY2024$107K
FY2024$107K

From the FY2023 Form 990 (year ending June 2023) · 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 1980.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $154K Management & general 11% · $20K

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

60 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Suzet M McKinney Drph Mph
President - Thru 12/31
$0Pt VII · Sec A
Cynthia Jones
President - Beg 12/31
$0Pt VII · Sec A
Dr Ven Mothkur
Vice President - Thru 12/31
$0Pt VII · Sec A
Dr Inger Burnett-Zeigler
Secretary - Thru 12/31
$0Pt VII · Sec A
$0Pt VII · Sec A
James Kolar
Assistant Treasurer
$0Pt VII · Sec A
Minal Varma
Asst. Sec.-Thru 12/31; Sec.-Beg 12/31
$0Pt VII · Sec A
Dr Garth Walker MD, Mph
Assistant Secretary - Beg 12/31
$0Pt VII · Sec A
See Thresholds Housing 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

Provides supportive housing and tailored services to help individuals in Chicago recover from severe and persistent mental illness.

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Provided by the organization

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1 program · $154K · in their own filed words · FY2022
01

Thresholds housing, INC.(PROJECT) is a nonprofit social service agency which provides housing facilities and services specially designed to meet the physical, social and psychological needs of individuals facing the challenge of recovery from severe and persistent mental illness.

$154Kprogram 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 · FY2022
Bank of America Charitable Foundation INCFY2022$1K
Total grants receivedfrom 1 funder$1K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$116K
Ln 12
Fees for servicesLn 2g$116K
Investment incomeLn 3$10
Money outPt IX
$174K
Ln 25
Programscol B$154K
Managementcol C$20K
Owns and owesPt X
$124K
net assets · Ln 32
Cash and savingsLn 1–2$75K
Total assetsLn 16$680K
LiabilitiesLn 26$556K
PeoplePt VI, VII
60
listed · VII A
PaidVII A0
Voting boardVI 1a47
IndependentVI 1b47
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$116K
Investment incomeLn 3$10
Total revenueLn 12$116K
Assets in detailPt X, end of year
CashLn 1$16K
SavingsLn 2$59K
Cash and savings togetherLn 1–2$75K
Land, buildings, equipmentLn 10c$606K
Total assetsLn 16$680K
LiabilitiesLn 26$556K
Net assetsLn 32$124K
OperationsPt I, VI
EmployeesI 50
VolunteersI 651
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 FY23End FY23
Cash and savingsLn 1–2$179K$75K
Land, buildings, equipmentLn 10c$568K$606K
Total assetsLn 16$746K$680K
LiabilitiesLn 26$564K$556K
Net assetsLn 32$183K$124K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$13K$6K$7K
Other employee benefitsLn 9$3K$1K$1K
Management feesLn 11a$7K$7K
Accounting feesLn 11c$4K$4K
Office expensesLn 13$545$545
OccupancyLn 16$84K$84K
InterestLn 20$32K$32K
Depreciation, depletion and amortizationLn 22$16K$16K
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$7K$7K
Total functional expensesLn 25$174K$154K$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $174K$191K−$17K$107K 990 PDF
FY2023 Viewing $116K$174K−$58K$124K 990 PDF
FY2022 $172K$209K−$37K$183K 990 PDF
FY2021 $169K$144K$25K$220K 990 PDF
FY2020 $167K$151K$16K$195K 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 FY2023 990 (6 parts)
Part I · Summary $116,338 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $171,694$116,328
I-10 Investment incomePrior year $13$10
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $171,707$116,338
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 $16,687$16,277
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $191,987$157,810
I-18 Total expensesPrior year $208,674$174,087
I-19 Revenue less expensesPrior year −$36,967−$57,749
Part VI · Governance 47 of 47 board members independent, 1 to look at
VI-1a Voting members of the governing body47
VI-1b Independent voting members47
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 $116,338 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $116,328$116,328
VIII-3 Investment incomeExcluded from tax $10$10
VIII-12 Total revenueRelated to mission $116,328 · Unrelated business $0 · Excluded from tax $10$116,338
Part IX · Statement of functional expenses $174,087 across 10 lines filed
IX-7 Other salaries and wagesPrograms $6,371 · Management $7,055$13,426
IX-9 Other employee benefitsPrograms $1,353 · Management $1,498$2,851
IX-11a Management feesManagement $6,914$6,914
IX-11c Accounting feesManagement $4,141$4,141
IX-13 Office expensesPrograms $545$545
IX-16 OccupancyPrograms $84,085$84,085
IX-20 InterestPrograms $31,515$31,515
IX-22 Depreciation, depletion and amortizationPrograms $16,263$16,263
IX-23 InsurancePrograms $7,269$7,269
IX-24 Other expenses (24a–d)Programs $7,078$7,078
IX-25 Total functional expensesPrograms $154,479 · Management $19,608 · Fundraising $0$174,087
Part X · Balance sheet $680,258 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $47,312$15,824
X-2 Savings and temporary cash investmentsStart of year $131,361$59,336
X-4 Accounts receivableStart of year −$11,200−$11,182
X-10c Land, buildings and equipment, netStart of year $567,914$606,132
X-14 Intangible assetsStart of year $10,828$10,148
X-16 Total assetsStart of year $746,215$680,258
X-17 Accounts payable and accrued expensesStart of year $3,600$1,785
X-25 Other liabilitiesStart of year $16,450$20,347
X-26 Total liabilitiesStart of year $563,562$555,873
X-27 Net assets without donor restrictionsStart of year $182,653$124,385
X-32 Total net assets or fund balancesStart of year $182,653$124,385
X-33 Total liabilities and net assetsStart of year $746,215$680,258
Part XI · Reconciliation of net assets $124,385 net assets at year end
XI-1 Total revenue$116,338
XI-2 Total expenses$174,087
XI-3 Revenue less expenses−$57,749
XI-4 Net assets at start of year$182,653
XI-8 Prior period adjustments−$519
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$124,385

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

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