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Forest Acres INC FY2024 filing

Tax-deductible

Sioux City, IA501(c)(3)Human Services EIN 36-3671316Revenue $199K in FY2024

On file with the IRS3100 W 4th St, 51103-3202 · Sioux City, IATax-exempt since Nov 1994Publicly supported charity — 170(b)(1)(A)(vi)

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To provide housing to the physically and mentally disabled and the elderly.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2024 · 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
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
1 of 6
filings with a surplus
Average deficit $26K a year · 12% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$653K
269% of total assets
Concern: liabilities are 269% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$199K
-6% vs prior year
Spent
$294K
To programs
80%
Net assets
−$410K
By yearFY2020–FY2025
Revenue
$199K
FY2024▼ -6%
Tap a bar for its year
Revenue by fiscal year
FY2020$210K
FY2021$214K
FY2022$218K
FY2023$211K
FY2024$199K
FY2025$232K
Expenses
$294K
FY2024▲ +38%
Tap a bar for its year
Expenses by fiscal year
FY2020$208K
FY2021$230K
FY2022$226K
FY2023$213K
FY2024$294K
FY2025$269K
Net assets
−$410K
FY2024▼ -30%
Tap a bar for its year
Net assets by fiscal year
FY2020−$290K
FY2021−$306K
FY2022−$313K
FY2023−$315K
FY2024−$410K
FY2025−$447K

From the FY2024 Form 990 (year ending June 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 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 1994.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $236K Management & general 20% · $58K

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

17 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Dan Pecaut
Director
$0Pt VII · Sec A
Ed Arshem
Director
$0Pt VII · Sec A
Dale Jans
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Will Poulson
Director
$0Pt VII · Sec A
See Forest Acres 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 housing for physically/mentally disabled and elderly individuals.

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Provided by the organization

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1 program · $236K · in their own filed words · FY2023
01

Expenses incurred to operate a 21 unit apartment complex which provides housing for the physically and mentally disabled and the elderly - financed by hud under section 202 of the housing act of 1959.

$236Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$199K
Ln 12
Gifts and grantsLn 1h$121K
Fees for servicesLn 2g$78K
Investment incomeLn 3$515
Money outPt IX
$294K
Ln 25
Programscol B$236K
Managementcol C$58K
Owns and owesPt X
−$410K
net assets · Ln 32
Cash and savingsLn 1–2$39K
Total assetsLn 16$243K
LiabilitiesLn 26$653K
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$121K
Government grantsLn 1e$121K
Fees for servicesLn 2g$78K
Investment incomeLn 3$515
Total revenueLn 12$199K
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$36K
Cash and savings togetherLn 1–2$39K
Land, buildings, equipmentLn 10c$195K
Total assetsLn 16$243K
LiabilitiesLn 26$653K
Net assetsLn 32−$410K
OperationsPt I, VI
EmployeesI 50
VolunteersI 617
Fiscal year endsHeaderJune
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 FY24End FY24
Cash and savingsLn 1–2$55K$39K
Land, buildings, equipmentLn 10c$221K$195K
Total assetsLn 16$286K$243K
LiabilitiesLn 26$601K$653K
Net assetsLn 32−$315K−$410K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$43K$11K$32K
Legal feesLn 11b$811$811
Accounting feesLn 11c$13K$13K
Advertising and promotionLn 12$958$958
Office expensesLn 13$7K$7K
OccupancyLn 16$97K$97K
TravelLn 17$2K$2K
Conferences, conventions and meetingsLn 19$694$694
Depreciation, depletion and amortizationLn 22$27K$27K
Other expenses (24a–d)Ln 24$102K$102K
All other expensesLn 24e$503$503
Total functional expensesLn 25$294K$236K$58K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $232K$269K−$37K−$447K 990 PDF
FY2024 Viewing $199K$294K−$95K−$410K 990 PDF
FY2023 $211K$213K−$2K−$315K 990 PDF
FY2022 $218K$226K−$7K−$313K 990 PDF
FY2021 $214K$230K−$16K−$306K 990 PDF
FY2020 $210K$208K$2K−$290K 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 FY2024 990 (6 parts)
Part I · Summary $199,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $129,120$120,955
I-9 Program service revenuePrior year $82,067$77,530
I-10 Investment incomePrior year $16$515
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $211,203$199,000
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 $213,324$293,762
I-18 Total expensesPrior year $213,324$293,762
I-19 Revenue less expensesPrior year −$2,121−$94,762
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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 $199,000 across 5 lines filed
VIII-1e Government grants$120,955
VIII-1h Total contributions, gifts and grants$120,955
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $77,530$77,530
VIII-3 Investment incomeExcluded from tax $515$515
VIII-12 Total revenueRelated to mission $77,530 · Unrelated business $0 · Excluded from tax $515$199,000
Part IX · Statement of functional expenses $293,762 across 11 lines filed
IX-11a Management feesPrograms $10,579 · Management $32,310$42,889
IX-11b Legal feesManagement $811$811
IX-11c Accounting feesManagement $13,147$13,147
IX-12 Advertising and promotionManagement $958$958
IX-13 Office expensesManagement $7,246$7,246
IX-16 OccupancyPrograms $96,827$96,827
IX-17 TravelManagement $2,203$2,203
IX-19 Conferences, conventions and meetingsManagement $694$694
IX-22 Depreciation, depletion and amortizationPrograms $26,906$26,906
IX-24 Other expenses (24a–d)Programs $101,578$101,578
IX-24e All other expensesManagement $503$503
IX-25 Total functional expensesPrograms $235,890 · Management $57,872 · Fundraising $0$293,762
Part X · Balance sheet $242,847 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $26,955$2,419
X-2 Savings and temporary cash investmentsStart of year $27,549$36,372
X-4 Accounts receivableStart of year $20$306
X-9 Prepaid expenses and deferred chargesStart of year $10,075$8,826
X-10c Land, buildings and equipment, netStart of year $221,051$194,924
X-16 Total assetsStart of year $285,650$242,847
X-17 Accounts payable and accrued expensesStart of year $20,190$22,096
X-19 Deferred revenueStart of year $2,385$1,732
X-25 Other liabilitiesStart of year $96,006$180,377
X-26 Total liabilitiesStart of year $600,897$652,856
X-27 Net assets without donor restrictionsStart of year −$315,247−$410,009
X-32 Total net assets or fund balancesStart of year −$315,247−$410,009
X-33 Total liabilities and net assetsStart of year $285,650$242,847
Part XI · Reconciliation of net assets −$410,009 net assets at year end
XI-1 Total revenue$199,000
XI-2 Total expenses$293,762
XI-3 Revenue less expenses−$94,762
XI-4 Net assets at start of year−$315,247
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$410,009

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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