Abbey Road INC FY2023 filing

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Abbey Road ("Abbey") is a nonprofit affordable housing development organization

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$322K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
6 of 6
filings with a surplus
Average surplus $985K a year · 41% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$322K
to officers and key staff · 20% of spending
Fine: pay to officers and key staff is 20% of spending; 15% to 20%.
Pt VII · Sec A
5 mo
of spending, in cash
Looks good: 5.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $420K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$11.0M
97% of total assets
Concern: liabilities are 97% of assets; over 80%.
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
$2.7M
+50% vs prior year
Spent
$1.6M
To programs
100%
Net assets
$360K
By yearFY2020–FY2025
Revenue
$2.7M
FY2023▲ +50%
Tap a bar for its year
Revenue by fiscal year
FY2020$978K
FY2021$1.5M
FY2022$1.8M
FY2023$2.7M
FY2024$2.3M
FY2025$5.0M
Expenses
$1.6M
FY2023▲ +27%
Tap a bar for its year
Expenses by fiscal year
FY2020$757K
FY2021$1.1M
FY2022$1.3M
FY2023$1.6M
FY2024$2.0M
FY2025$1.5M
Net assets
$360K
FY2023▲ +155%
Tap a bar for its year
Net assets by fiscal year
FY2020−$1.5M
FY2021−$1.1M
FY2022−$649K
FY2023$360K
FY2024$1.3M
FY2025$4.8M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2023 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 May 2010.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.6M

Form 990 Part IX, line 25. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

9 people listed on the 990; $322K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Director of Housing Servic
$211,657Pt VII · Sec A
Project Manager
$110,834Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary & Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Maura Johnson’s $238K as Director of Housing Services is at the 95th percentile of top reported officer pay among 3868 $1–10M human services 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.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022
Maura Johnson$237,833$209,593$211,657$177,325
Kenneth Bank$167,048$174,478——
Nicole Poole$125,163$119,544$110,834—
Sean Alred$107,596———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Abbey Road INC 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

Develops affordable housing for those in need.

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1 program · $1.6M · in their own filed words · FY2022
01

Rental and Development Activities

Identifying, developing, and operating property for low income, transitional and permanent housing, abbey road wholly owns 7 properties and holds a general partner interest in 7 properties totaling 623 units

$1.6Mprogram 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
Total grants receivedfrom 2 funders$420K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$2.7M
Ln 12
Fees for servicesLn 2g$1.3M
Other incomeLn 4–11$1.0M
Gifts and grantsLn 1h$327K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.6M
Owns and owesPt X
$360K
net assets · Ln 32
Cash and savingsLn 1–2$694K
Total assetsLn 16$11.3M
LiabilitiesLn 26$11.0M
PeoplePt VI, VII
9
listed · VII A
PaidVII A2
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$327K
Government grantsLn 1e$88K
Noncash giftsLn 1g$158K
Fees for servicesLn 2g$1.3M
Investment incomeLn 3$13K
Other incomeLn 4–11$1.0M
Total revenueLn 12$2.7M
Assets in detailPt X, end of year
CashLn 1$694K
Cash and savings togetherLn 1–2$694K
InvestmentsLn 11–13$339K
Land, buildings, equipmentLn 10c$5.2M
Other assetsLn 15$5.1M
Total assetsLn 16$11.3M
LiabilitiesLn 26$11.0M
Net assetsLn 32$360K
OperationsPt I, VI
EmployeesI 55
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$158K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$577K$694K
InvestmentsLn 11–13$339K$339K
Land, buildings, equipmentLn 10c$5.3M$5.2M
Total assetsLn 16$9.1M$11.3M
LiabilitiesLn 26$9.8M$11.0M
Net assetsLn 32−$649K$360K
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$584K$584K
Other employee benefitsLn 9$44K$44K
Payroll taxesLn 10$39K$39K
Legal feesLn 11b$610$610
Accounting feesLn 11c$48K$48K
Advertising and promotionLn 12$8K$8K
Office expensesLn 13$102K$102K
OccupancyLn 16$92K$92K
TravelLn 17$3K$3K
Conferences, conventions and meetingsLn 19$1K$1K
InterestLn 20$94K$94K
Depreciation, depletion and amortizationLn 22$60K$60K
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$551K$551K
All other expensesLn 24e$15K$15K
Total functional expensesLn 25$1.6M$1.6M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Feb 17, 2026 $5.0M$1.5M$3.5M$4.8M 990 PDF
FY2024Filed with the IRS May 12, 2025 $2.3M$2.0M$343K$1.3M 990 PDF
FY2023 ViewingFiled with the IRS May 14, 2024 $2.7M$1.6M$1.0M$360K 990 PDF
FY2022Filed with the IRS May 12, 2023 $1.8M$1.3M$469K−$649K 990 PDF
FY2021Filed with the IRS May 13, 2022 $1.5M$1.1M$392K−$1.1M 990 PDF
FY2020Filed with the IRS May 17, 2021 $978K$757K$221K−$1.5M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $2,658,480 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $169,006$326,849
I-9 Program service revenuePrior year $1,394,054$1,272,014
I-10 Investment incomePrior year $171,479$13,099
I-11 Other revenuePrior year $38,274$1,046,518
I-12 Total revenuePrior year $1,772,813$2,658,480
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 $523,025$667,295
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $780,757$982,202
I-18 Total expensesPrior year $1,303,782$1,649,497
I-19 Revenue less expensesPrior year $469,031$1,008,983
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $2,658,480 across 9 lines filed
VIII-1e Government grants$88,333
VIII-1f All other contributions, gifts and grants$238,516
VIII-1g Noncash contributions (included above)$158,066
VIII-1h Total contributions, gifts and grants$326,849
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,272,014$1,272,014
VIII-3 Investment incomeRelated to mission $13,099$13,099
VIII-6 Net rental income or lossRelated to mission $1,044,019$1,044,019
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,499$2,499
VIII-12 Total revenueRelated to mission $2,331,631 · Unrelated business $0 · Excluded from tax $0$2,658,480
Part IX · Statement of functional expenses $1,649,497 across 15 lines filed
IX-7 Other salaries and wagesPrograms $584,491$584,491
IX-9 Other employee benefitsPrograms $43,951$43,951
IX-10 Payroll taxesPrograms $38,853$38,853
IX-11b Legal feesPrograms $610$610
IX-11c Accounting feesPrograms $48,365$48,365
IX-12 Advertising and promotionPrograms $7,678$7,678
IX-13 Office expensesPrograms $101,963$101,963
IX-16 OccupancyPrograms $91,828$91,828
IX-17 TravelPrograms $2,861$2,861
IX-19 Conferences, conventions and meetingsPrograms $1,435$1,435
IX-20 InterestPrograms $93,651$93,651
IX-22 Depreciation, depletion and amortizationPrograms $60,434$60,434
IX-23 InsurancePrograms $6,990$6,990
IX-24 Other expenses (24a–d)Programs $551,427$551,427
IX-24e All other expensesPrograms $14,960$14,960
IX-25 Total functional expensesPrograms $1,649,497 · Management $0 · Fundraising $0$1,649,497
Part X · Balance sheet $11,338,451 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $577,081$693,672
X-4 Accounts receivableStart of year $15,999$26,604
X-10c Land, buildings and equipment, netStart of year $5,253,137$5,192,703
X-12 Other securitiesStart of year $99,618$99,630
X-13 Program-related investmentsStart of year $239,595$239,788
X-15 Other assetsStart of year $2,918,251$5,086,054
X-16 Total assetsStart of year $9,103,681$11,338,451
X-17 Accounts payable and accrued expensesStart of year $46,985$447,166
X-25 Other liabilitiesStart of year $272,121$576,770
X-26 Total liabilitiesStart of year $9,752,649$10,978,436
X-27 Net assets without donor restrictionsStart of year −$648,968$360,015
X-32 Total net assets or fund balancesStart of year −$648,968$360,015
X-33 Total liabilities and net assetsStart of year $9,103,681$11,338,451
Part XI · Reconciliation of net assets $360,015 net assets at year end
XI-1 Total revenue$2,658,480
XI-2 Total expenses$1,649,497
XI-3 Revenue less expenses$1,008,983
XI-4 Net assets at start of year−$648,968
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$360,015

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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