Residential Facilities Corp: FY2024 Nonprofit Profile & Form 990 (EIN 36-3682153)

Revenue by fiscal year
FY2020	$207K
FY2021	$160K
FY2022	$195K
FY2023	$196K
FY2024	$205K
FY2025	$209K

Expenses by fiscal year
FY2020	$180K
FY2021	$187K
FY2022	$187K
FY2023	$190K
FY2024	$186K
FY2025	$206K

Net assets by fiscal year
FY2020	−$477K
FY2021	−$504K
FY2022	−$496K
FY2023	−$490K
FY2024	−$471K
FY2025	−$468K

Is it real?

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

80%

20%

Program services 80% · $148K Management & general 20% · $38K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII

Steve Tibbitts

Vice Chairman

$0Pt VII · Sec A

David Garner

Chairman

$0Pt VII · Sec A

William Nelson

CEO/President

$0Pt VII · Sec A

Jason Duncan

Board Member

$0Pt VII · Sec A

Chris Butcher

Board Member

$0Pt VII · Sec A

Seth Minter

Board Member

$0Pt VII · Sec A

Staci Danner

Treasurer

$0Pt VII · Sec A

Jennifer Dalton

Secretary

$0Pt VII · Sec A

See Residential Facilities Corp executive salaries →

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 housing for elderly and disabled individuals.

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1 program · $148K · in their own filed words · FY2023

01

Operation of a 15 unit apartment project for disabled individuals pursuant to exempt purpose.

$148Kprogram expense

Funders

Who pays for it.

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

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs

Year ending Jun 2025 · $799K federal money spent

Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing ProjectsDepartment of Housing and Urban Development · ALN 14.155 · Direct$646K

Project-Based Rental Assistance (pbra)Department of Housing and Urban Development · ALN 14.195 · Direct$153K

The auditor reported no findings.

Year ending Jun 2024 · $818K federal money spent

Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing ProjectsDepartment of Housing and Urban Development · ALN 14.155 · Direct$665K

Project-Based Rental Assistance (pbra)Department of Housing and Urban Development · ALN 14.195 · Direct$153K

The auditor reported no findings.

Year ending Jun 2023 · $825K federal money spent

Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing ProjectsDepartment of Housing and Urban Development · ALN 14.155 · Direct$683K

Section 8 Housing Assistance Payments ProgramDepartment of Housing and Urban Development · ALN 14.195 · Direct$142K

The auditor reported no findings.

Year ending Jun 2022 · $842K federal money spent

Mortgage Insurance for the Purchase or Refinancing of Existing Multifamily Housing ProjectsDepartment of Housing and Urban Development · ALN 14.155 · Direct$700K

Section 8 Housing Assistance Payments ProgramDepartment of Housing and Urban Development · ALN 14.195 · Direct$142K

The auditor reported no findings.

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$205K

Ln 12

Fees for servicesLn 2g$209K

Investment incomeLn 3$18

Money outPt IX

$186K

Ln 25

Programscol B$148K

Managementcol C$38K

Owns and owesPt X

−$471K

net assets · Ln 32

Cash and savingsLn 1–2$7K

Total assetsLn 16$266K

LiabilitiesLn 26$737K

PeoplePt VI, VII

8

listed · VII A

PaidVII A0

Voting boardVI 1a6

IndependentVI 1b5

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$209K

Investment incomeLn 3$18

Gains on assetsLn 7−$5K

Total revenueLn 12$205K

Assets in detailPt X, end of year

CashLn 1$7K

Cash and savings togetherLn 1–2$7K

Land, buildings, equipmentLn 10c$205K

Other assetsLn 15$37K

Total assetsLn 16$266K

LiabilitiesLn 26$737K

Net assetsLn 32−$471K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$6K	$7K
Land, buildings, equipmentLn 10c	$218K	$205K
Total assetsLn 16	$270K	$266K
LiabilitiesLn 26	$760K	$737K
Net assetsLn 32	−$490K	−$471K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$18K	$14K	$4K
Management feesLn 11a	$15K		$15K
Accounting feesLn 11c	$13K		$13K
Office expensesLn 13	$5K		$5K
OccupancyLn 16	$20K	$20K
Conferences, conventions and meetingsLn 19	$59		$59
InterestLn 20	$39K	$39K
Depreciation, depletion and amortizationLn 22	$16K	$16K
InsuranceLn 23	$18K	$18K
Other expenses (24a–d)Ln 24	$40K	$40K	$163
Total functional expensesLn 25	$186K	$148K	$38K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 LatestFiled with the IRS Mar 31, 2026	$209K	$206K	$3K	−$468K	990 PDF
FY2024 ViewingFiled with the IRS Jan 31, 2025	$205K	$186K	$19K	−$471K	990 PDF
FY2023Filed with the IRS Feb 14, 2024	$196K	$190K	$6K	−$490K	990 PDF
FY2022Filed with the IRS Feb 8, 2023	$195K	$187K	$7K	−$496K	990 PDF
FY2021Filed with the IRS Feb 1, 2022	$160K	$187K	−$27K	−$504K	990 PDF
FY2020Filed with the IRS Jan 11, 2021	$207K	$180K	$28K	−$477K	990 PDF

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 $204,999 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $195,959$209,092

I-10 Investment incomePrior year $11−$5,101

I-11 Other revenuePrior year $211$1,008

I-12 Total revenuePrior year $196,181$204,999

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 $17,603$18,275

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

I-17 Other expensesPrior year $172,402$167,651

I-18 Total expensesPrior year $190,005$185,926

I-19 Revenue less expensesPrior year $6,176$19,073

Part VI · Governance 5 of 6 board members independent, 2 to look at

VI-1a Voting members of the governing body6

VI-1b Independent voting members5

VI-13 Written whistleblower policyNo

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-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $204,999 across 5 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $209,092$209,092

VIII-3 Investment incomeExcluded from tax $18$18

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$5,119−$5,119

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,008$1,008

VIII-12 Total revenueRelated to mission $209,092 · Unrelated business $0 · Excluded from tax −$4,093$204,999

Part IX · Statement of functional expenses $185,926 across 10 lines filed

IX-7 Other salaries and wagesPrograms $14,250 · Management $4,025$18,275

IX-11a Management feesManagement $14,842$14,842

IX-11c Accounting feesManagement $13,374$13,374

IX-13 Office expensesManagement $5,331$5,331

IX-16 OccupancyPrograms $20,278$20,278

IX-19 Conferences, conventions and meetingsManagement $59$59

IX-20 InterestPrograms $39,299$39,299

IX-22 Depreciation, depletion and amortizationPrograms $16,347$16,347

IX-23 InsurancePrograms $17,679$17,679

IX-24 Other expenses (24a–d)Programs $40,279 · Management $163$40,442

IX-25 Total functional expensesPrograms $148,132 · Management $37,794 · Fundraising $0$185,926

Part X · Balance sheet $265,821 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $6,493$7,209

X-4 Accounts receivableStart of year $311$464

X-9 Prepaid expenses and deferred chargesStart of year $15,713$16,443

X-10c Land, buildings and equipment, netStart of year $217,550$204,950

X-15 Other assetsStart of year $29,730$36,755

X-16 Total assetsStart of year $269,797$265,821

X-17 Accounts payable and accrued expensesStart of year $107,635$103,051

X-25 Other liabilitiesStart of year $4,730$3,840

X-26 Total liabilitiesStart of year $760,073$737,024

X-27 Net assets without donor restrictionsStart of year −$490,276−$471,203

X-32 Total net assets or fund balancesStart of year −$490,276−$471,203

X-33 Total liabilities and net assetsStart of year $269,797$265,821

Part XI · Reconciliation of net assets −$471,203 net assets at year end

XI-1 Total revenue$204,999

XI-2 Total expenses$185,926

XI-3 Revenue less expenses$19,073

XI-4 Net assets at start of year−$490,276

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year−$471,203

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

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Residential Facilities Corp FY2024 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Residential Facilities Corp

Funders

Federal money

By the numbers

Filing history

Schedules filed Part IV