Haven Towers Development Corporation: Nonprofit Profile, Financials & Form 990 (EIN 36-4282964)

Revenue by fiscal year
FY2020	$1.0M
FY2021	$1.1M
FY2022	$1.1M
FY2023	$1.1M
FY2024	$1.2M
FY2025	$1.2M

Expenses by fiscal year
FY2020	$1.1M
FY2021	$1.1M
FY2022	$1.2M
FY2023	$1.3M
FY2024	$1.3M
FY2025	$1.5M

Net assets by fiscal year
FY2020	−$216K
FY2021	−$226K
FY2022	−$336K
FY2023	−$512K
FY2024	−$643K
FY2025	−$959K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1999.

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% · $1.2M Management & general 20% · $310K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation

Arlisha Kennedy

President

$0Pt VII · Sec A

Dr Derrius Colvin

Director

$0Pt VII · Sec A

Ann Williams

Secretary

$0Pt VII · Sec A

Pastor Reginald Johnson

Director

$0Pt VII · Sec A

See Haven Towers Development Corporation 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

Haven Towers Development Corporation is a housing nonprofit based in Chicago, IL, formed in 2003.

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1 program · $1.2M · in their own filed words · FY2024

01

The organization owns and operates an apartment complex for the elderly pursuant to section 202 of the national housing act.

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 36-4282964) · Dispute this line

$1.2Mprogram 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 2026 · $7.6M federal money spent

Supportive Housing for the ElderlyDepartment of Housing and Urban Development · ALN 14.157 · Direct$7.6M

The auditor reported no findings.

Year ending Jun 2025 · $7.4M federal money spent

Supportive Housing for the ElderlyDepartment of Housing and Urban Development · ALN 14.157 · Direct$7.4M

The auditor reported no findings.

Year ending Jun 2024 · $7.4M federal money spent

Supportive Housing for the ElderlyDepartment of Housing and Urban Development · ALN 14.157 · Direct$7.4M

The auditor reported no findings.

Year ending Jun 2023 · $7.4M federal money spent

Supportive Housing for the ElderlyDepartment of Housing and Urban Development · ALN 14.157 · Direct$7.4M

The auditor reported no findings.

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$1.2M

Ln 12

Gifts and grantsLn 1h$823K

Fees for servicesLn 2g$360K

Investment incomeLn 3$14K

Money outPt IX

$1.5M

Ln 25

Programscol B$1.2M

Managementcol C$310K

Owns and owesPt X

−$959K

net assets · Ln 32

Cash and savingsLn 1–2$2K

Total assetsLn 16$5.7M

LiabilitiesLn 26$6.7M

PeoplePt VI, VII

4

listed · VII A

PaidVII A0

Voting boardVI 1a4

IndependentVI 1b4

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$823K

Government grantsLn 1e$823K

Fees for servicesLn 2g$360K

Investment incomeLn 3$14K

Other incomeLn 4–11$4K

Total revenueLn 12$1.2M

Assets in detailPt X, end of year

CashLn 1$2K

Cash and savings togetherLn 1–2$2K

Pledges and grants receivableLn 3$12K

Prepaid expenses and deferred chargesLn 9$78K

Land, buildings, equipmentLn 10c$4.7M

Other assetsLn 15$914K

Total assetsLn 16$5.7M

LiabilitiesLn 26$6.7M

Net assetsLn 32−$959K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$19K	$2K
Land, buildings, equipmentLn 10c	$4.9M	$4.7M
Total assetsLn 16	$6.0M	$5.7M
LiabilitiesLn 26	$6.7M	$6.7M
Net assetsLn 32	−$643K	−$959K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$351K	$219K	$132K
Other employee benefitsLn 9	$46K	$46K
Payroll taxesLn 10	$45K	$45K
Management feesLn 11a	$70K		$70K
Accounting feesLn 11c	$15K		$15K
Advertising and promotionLn 12	$3K		$3K
Office expensesLn 13	$245K	$156K	$89K
OccupancyLn 16	$397K	$397K
InterestLn 20	$2K	$2K
Depreciation, depletion and amortizationLn 22	$235K	$235K
InsuranceLn 23	$109K	$109K
Other expenses (24a–d)Ln 24	$574		$574
Total functional expensesLn 25	$1.5M	$1.2M	$310K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest ViewingFiled with the IRS May 14, 2026	$1.2M	$1.5M	−$316K	−$959K	990 PDF
FY2024Filed with the IRS May 12, 2025	$1.2M	$1.3M	−$131K	−$643K	990 PDF
FY2023Filed with the IRS Jan 24, 2024	$1.1M	$1.3M	−$176K	−$512K	990 PDF
FY2022Filed with the IRS May 3, 2023	$1.1M	$1.2M	−$91K	−$336K	990 PDF
FY2021Filed with the IRS May 16, 2022	$1.1M	$1.1M	−$10K	−$226K	990 PDF
FY2020Filed with the IRS May 16, 2021	$1.0M	$1.1M	−$1K	−$216K	990 PDF

Schedules filed Part IV

A · Public support B · Donors D · Assets and endowments O · Explanations

See the full FY2025 990

Part I · Summary $1,201,873 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $830,476$823,325

I-9 Program service revenuePrior year $357,472$360,437

I-10 Investment incomePrior year $15,974$14,066

I-11 Other revenuePrior year $4,552$4,045

I-12 Total revenuePrior year $1,208,474$1,201,873

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 $366,094$441,066

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

I-17 Other expensesPrior year $973,592$1,076,580

I-18 Total expensesPrior year $1,339,686$1,517,646

I-19 Revenue less expensesPrior year −$131,212−$315,773

Part VI · Governance 4 of 4 board members independent, 4 to look at

VI-1a Voting members of the governing body4

VI-1b Independent voting members4

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 $1,201,873 across 6 lines filed

VIII-1e Government grants$823,325

VIII-1h Total contributions, gifts and grants$823,325

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $360,437$360,437

VIII-3 Investment incomeExcluded from tax $14,066$14,066

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $4,045$4,045

VIII-12 Total revenueRelated to mission $360,437 · Unrelated business $0 · Excluded from tax $18,111$1,201,873

Part IX · Statement of functional expenses $1,517,646 across 12 lines filed

IX-7 Other salaries and wagesPrograms $219,142 · Management $131,531$350,673

IX-9 Other employee benefitsPrograms $45,694$45,694

IX-10 Payroll taxesPrograms $44,699$44,699

IX-11a Management feesManagement $70,363$70,363

IX-11c Accounting feesManagement $15,048$15,048

IX-12 Advertising and promotionManagement $3,315$3,315

IX-13 Office expensesPrograms $156,005 · Management $88,895$244,900

IX-16 OccupancyPrograms $397,222$397,222

IX-20 InterestPrograms $1,519$1,519

IX-22 Depreciation, depletion and amortizationPrograms $234,785$234,785

IX-23 InsurancePrograms $108,854$108,854

IX-24 Other expenses (24a–d)Management $574$574

IX-25 Total functional expensesPrograms $1,207,920 · Management $309,726 · Fundraising $0$1,517,646

Part X · Balance sheet $5,696,985 assets, 14 lines filed

X-1 Cash, non-interest-bearingStart of year $18,718$2,211

X-3 Pledges and grants receivableStart of year $2,858$11,707

X-9 Prepaid expenses and deferred chargesStart of year $74,091$78,071

X-10c Land, buildings and equipment, netStart of year $4,926,157$4,691,372

X-15 Other assetsStart of year $985,920$913,624

X-16 Total assetsStart of year $6,007,744$5,696,985

X-17 Accounts payable and accrued expensesStart of year $35,128$38,802

X-19 Deferred revenueStart of year $682$1,432

X-23 Secured mortgages and notes payableStart of year $6,591,300$6,591,300

X-25 Other liabilitiesStart of year $24,063$24,653

X-26 Total liabilitiesStart of year $6,651,173$6,656,187

X-27 Net assets without donor restrictionsStart of year −$643,429−$959,202

X-32 Total net assets or fund balancesStart of year −$643,429−$959,202

X-33 Total liabilities and net assetsStart of year $6,007,744$5,696,985

Part XI · Reconciliation of net assets −$959,202 net assets at year end

XI-1 Total revenue$1,201,873

XI-2 Total expenses$1,517,646

XI-3 Revenue less expenses−$315,773

XI-4 Net assets at start of year−$643,429

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year−$959,202

Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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Haven Towers Development Corporation

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 Haven Towers Development Corporation

Funders

Federal money

By the numbers

Filing history

Schedules filed Part IV