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Embrace Living Development

Tax-deductible

Oak Brook, IL501(c)(3)Foundations & GrantmakersEIN 36-3729609Revenue $3.4M in FY2024

On file with the IRSembraceliving.org1900 Spring Rd Ste 450, 60523-1481 · Oak Brook, ILTax-exempt since Oct 1995Publicly supported charity — 170(b)(1)(A)(vi)

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To provide actively aging adults affordable welcoming homes in communities that Embrace Living.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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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
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
5 of 5
filings with a surplus
Average surplus $24.1M a year · 99% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
184 mo
of spending, in cash
Looks good: 183.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$345K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.4M
-76% vs prior year
Spent
$248K
To programs
0%
Net assets
$11.0M
By yearFY2020–FY2024
Revenue
$3.4M
FY2024▼ -76%
Tap a bar for its year
Revenue by fiscal year
FY2020$106K
FY2021$32.8M
FY2022$70.6M
FY2023$14.3M
FY2024$3.4M
Expenses
$248K
FY2024▼ -18%
Tap a bar for its year
Expenses by fiscal year
FY2020$29K
FY2021$20K
FY2022$336K
FY2023$302K
FY2024$248K
Net assets
$11.0M
FY2024▼ -67%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.5M
FY2021$36.9M
FY2022$114.8M
FY2023$32.9M
FY2024$11.0M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1995.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $248K

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
Irv Woods
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Scott Meyer
Chairman
$0Pt VII · Sec A
Ruth Carlson
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Tonya Pitts
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Ralph Gaines
President & CEO
$0Pt VII · Sec A
See Embrace Living Development 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

Offers affordable, welcoming homes for active seniors in supportive communities.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Embrace living development was incorporated as a not-fo-profit corporation in the state of illinois in 1990. It was formed to provide housing for low-income elderly and handicapped persons as defined by the national housing act of 1959.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.4M
Ln 12
Fees for servicesLn 2g$3.3M
Investment incomeLn 3$48K
Other incomeLn 4–11$25K
Money outPt IX
$248K
Ln 25
Managementcol C$248K
Owns and owesPt X
$11.0M
net assets · Ln 32
Cash and savingsLn 1–2$3.8M
Total assetsLn 16$11.3M
LiabilitiesLn 26$345K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$3.3M
Investment incomeLn 3$48K
Other incomeLn 4–11$25K
Total revenueLn 12$3.4M
Assets in detailPt X, end of year
CashLn 1$3.8M
Cash and savings togetherLn 1–2$3.8M
Other assetsLn 15$6.9M
Total assetsLn 16$11.3M
LiabilitiesLn 26$345K
Net assetsLn 32$11.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$10.4M$3.8M
Total assetsLn 16$34.1M$11.3M
LiabilitiesLn 26$1.2M$345K
Net assetsLn 32$32.9M$11.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$27K$27K
Office expensesLn 13$226$226
OccupancyLn 16$215K$215K
Conferences, conventions and meetingsLn 19$3K$3K
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$248K$0$248K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $3.4M$248K$3.2M$11.0M 990 PDF
FY2023 $14.3M$302K$14.0M$32.9M 990 PDF
FY2022 $70.6M$336K$70.3M$114.8M 990 PDF
FY2021 $32.8M$20K$32.8M$36.9M 990 PDF
FY2020 $106K$29K$77K$1.5M 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 FY2024 990 (6 parts)
Part I · Summary $3,411,971 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $6,982,374$3,339,254
I-10 Investment incomePrior year $4,306,723$47,614
I-11 Other revenuePrior year $3,017,628$25,103
I-12 Total revenuePrior year $14,306,725$3,411,971
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 $301,901$247,609
I-18 Total expensesPrior year $301,901$247,609
I-19 Revenue less expensesPrior year $14,004,824$3,164,362
Part VI · Governance 7 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members7
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 $3,411,971 across 3 lines filed
Lines not itemized here account for $25,103 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,339,254$3,339,254
VIII-3 Investment incomeRelated to mission $47,614$47,614
VIII-12 Total revenueRelated to mission $3,411,971 · Unrelated business $0 · Excluded from tax $0$3,411,971
Part IX · Statement of functional expenses $247,609 across 5 lines filed
IX-11c Accounting feesManagement $27,494$27,494
IX-13 Office expensesManagement $226$226
IX-16 OccupancyManagement $214,970$214,970
IX-19 Conferences, conventions and meetingsManagement $3,032$3,032
IX-24 Other expenses (24a–d)Management $1,887$1,887
IX-25 Total functional expensesPrograms $0 · Management $247,609 · Fundraising $0$247,609
Part X · Balance sheet $11,316,316 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $10,416,397$3,794,165
X-4 Accounts receivableStart of year $2,501,487$285,720
X-14 Intangible assets$335,925
X-15 Other assetsStart of year $21,199,376$6,900,506
X-16 Total assetsStart of year $34,117,260$11,316,316
X-17 Accounts payable and accrued expensesStart of year $958,509$6,273
X-25 Other liabilitiesStart of year $271,980$339,101
X-26 Total liabilitiesStart of year $1,230,489$345,374
X-27 Net assets without donor restrictionsStart of year $32,886,771$10,970,942
X-32 Total net assets or fund balancesStart of year $32,886,771$10,970,942
X-33 Total liabilities and net assetsStart of year $34,117,260$11,316,316
Part XI · Reconciliation of net assets $10,970,942 net assets at year end
XI-1 Total revenue$3,411,971
XI-2 Total expenses$247,609
XI-3 Revenue less expenses$3,164,362
XI-4 Net assets at start of year$32,886,771
XI-9 Other changes in net assets−$25,080,191
XI-10 Net assets at end of year$10,970,942

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

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