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Reba Place Development Corporation

Tax-deductible

Evanston, IL501(c)(3)Housing EIN 36-3994092Revenue $426K in FY2024

On file with the IRS737 Reba Place Basement, 60202-4155 · Evanston, ILTax-exempt since Oct 1996Publicly supported — 509(a)(2)

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To provide housing to low to moderate income individuals and families.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Run by 8 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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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
4 of 5
filings with a surplus
Average surplus $37K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $18K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$924K
61% of total assets
Fine: liabilities are 61% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 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
$426K
-11% vs prior year
Spent
$348K
To programs
82%
Net assets
$601K
By yearFY2020–FY2024
Revenue
$426K
FY2024▼ -11%
Tap a bar for its year
Revenue by fiscal year
FY2020$381K
FY2021$419K
FY2022$396K
FY2023$478K
FY2024$426K
Expenses
$348K
FY2024▼ -20%
Tap a bar for its year
Expenses by fiscal year
FY2020$349K
FY2021$423K
FY2022$359K
FY2023$436K
FY2024$348K
Net assets
$601K
FY2024▲ +15%
Tap a bar for its year
Net assets by fiscal year
FY2020$440K
FY2021$435K
FY2022$480K
FY2023$522K
FY2024$601K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1996.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $286K Management & general 18% · $62K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
Rob Bady
Director
$0Pt VII · Sec A
Sam Cavner
Director
$0Pt VII · Sec A
Dan Coyne
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
John Powell
Vice Preside
$0Pt VII · Sec A
Kia Sutton
Treasurer
$0Pt VII · Sec A

Keith Alan Banks’s $66K as Ex. Officio is at the 56th percentile of top reported officer pay among 852 $100K–1M 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.

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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 affordable housing for low and moderate-income individuals and families.

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Provided by the organization

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1 program · $286K · in their own filed words · FY2024
01

To maintain affordable rental and coop housing for several households in various apartment buildings located in evanston illinois. The organization also develops with the assistance of governmental entities affordable housing for sale to qualified low income families and individuals.

$286Kprogram 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
Evanston Lighthouse Rotary Club FoundationFY2024$18K
Total grants receivedfrom 1 funder$18K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$426K
Ln 12
Fees for servicesLn 2g$401K
Gifts and grantsLn 1h$23K
Investment incomeLn 3$2K
Money outPt IX
$348K
Ln 25
Programscol B$286K
Managementcol C$62K
Owns and owesPt X
$601K
net assets · Ln 32
Cash and savingsLn 1–2$31K
Total assetsLn 16$1.5M
LiabilitiesLn 26$924K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$23K
Fees for servicesLn 2g$401K
Investment incomeLn 3$2K
Total revenueLn 12$426K
Assets in detailPt X, end of year
CashLn 1$31K
Cash and savings togetherLn 1–2$31K
Land, buildings, equipmentLn 10c$855K
Other assetsLn 15$330K
Total assetsLn 16$1.5M
LiabilitiesLn 26$924K
Net assetsLn 32$601K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
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$117K$31K
Land, buildings, equipmentLn 10c$892K$855K
Total assetsLn 16$1.5M$1.5M
LiabilitiesLn 26$1.0M$924K
Net assetsLn 32$522K$601K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$91K$73K$18K
Accounting feesLn 11c$12K$10K$2K
Office expensesLn 13$3K$2K$593
OccupancyLn 16$31K$25K$6K
InterestLn 20$15K$12K$3K
Depreciation, depletion and amortizationLn 22$38K$38K
InsuranceLn 23$16K$13K$3K
Other expenses (24a–d)Ln 24$142K$113K$28K
Total functional expensesLn 25$348K$286K$62K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $426K$348K$79K$601K 990 PDF
FY2023 $478K$436K$42K$522K 990 PDF
FY2022 $396K$359K$37K$480K 990 PDF
FY2021 $419K$423K−$5K$435K 990 PDF
FY2020 $381K$349K$32K$440K 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 $426,198 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $121,344$23,325
I-9 Program service revenuePrior year $355,224$400,617
I-10 Investment incomePrior year $1,193$2,256
I-11 Other revenue$0
I-12 Total revenuePrior year $477,761$426,198
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $155,783$90,851
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $279,764$256,679
I-18 Total expensesPrior year $435,547$347,530
I-19 Revenue less expensesPrior year $42,214$78,668
Part VI · Governance 8 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $426,198 across 5 lines filed
VIII-1f All other contributions, gifts and grants$23,325
VIII-1h Total contributions, gifts and grants$23,325
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $400,617$400,617
VIII-3 Investment incomeExcluded from tax $2,256$2,256
VIII-12 Total revenueRelated to mission $400,617 · Excluded from tax $2,256$426,198
Part IX · Statement of functional expenses $347,530 across 8 lines filed
IX-7 Other salaries and wagesPrograms $72,681 · Management $18,170$90,851
IX-11c Accounting feesPrograms $9,764 · Management $2,441$12,205
IX-13 Office expensesPrograms $2,371 · Management $593$2,964
IX-16 OccupancyPrograms $24,809 · Management $6,203$31,012
IX-20 InterestPrograms $11,953 · Management $2,988$14,941
IX-22 Depreciation, depletion and amortizationPrograms $37,998$37,998
IX-23 InsurancePrograms $12,772 · Management $3,193$15,965
IX-24 Other expenses (24a–d)Programs $113,276 · Management $28,318$141,594
IX-25 Total functional expensesPrograms $285,624 · Management $61,906 · Fundraising $0$347,530
Part X · Balance sheet $1,524,514 assets, 12 lines filed
Asset lines not itemized here account for $298,664; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $117,319$30,627
X-4 Accounts receivableStart of year $12,531$3,785
X-9 Prepaid expenses and deferred charges$6,516
X-10c Land, buildings and equipment, netStart of year $891,978$854,752
X-15 Other assetsStart of year $179,783$330,170
X-16 Total assetsStart of year $1,528,149$1,524,514
X-17 Accounts payable and accrued expensesStart of year $73,496$9,507
X-25 Other liabilitiesStart of year $932,764$914,450
X-26 Total liabilitiesStart of year $1,006,260$923,957
X-27 Net assets without donor restrictionsStart of year $521,889$600,557
X-32 Total net assets or fund balancesStart of year $521,889$600,557
X-33 Total liabilities and net assetsStart of year $1,528,149$1,524,514
Part XI · Reconciliation of net assets $600,557 net assets at year end
XI-1 Total revenue$426,198
XI-2 Total expenses$347,530
XI-3 Revenue less expenses$78,668
XI-4 Net assets at start of year$521,889
XI-10 Net assets at end of year$600,557

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

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