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Central Alabama Development Corporation

Tax-deductible

Alex City, AL501(c)(3)Since 2016 EIN 36-4850606Revenue $70K in FY2025

On file with the IRSalexcityhousing.org2110 County Rd, 35010-3800 · Alex City, ALTax-exempt since Feb 2021Publicly supported charity — 170(b)(1)(A)(vi)

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To provide decent, safe and sanitary housing for low- and moderate-income persons by acquiring, managing, or otherwise dealing with real property for the betterment of the community in the owning, renting, managing, selling, or financing homes, apartments, or other housing for persons of low income, including families, elderly, handicapped or disabled persons.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Run by 6 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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FY2025 · 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
2 of 4
filings with a surplus
Average deficit $293 a year · under 1% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
22 mo
of spending, in cash
Plus $265K in investments, Pt X · Ln 11–13
Looks good: 21.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2K
0.4% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$70K
+0.3% vs prior year
Spent
$81K
To programs
95%
Net assets
$629K
By yearFY2022–FY2025
Revenue
$70K
FY2025+0.3%
Tap a bar for its year
Revenue by fiscal year
FY2022$52K
FY2023$65K
FY2024$70K
FY2025$70K
Expenses
$81K
FY2025▲ +22%
Tap a bar for its year
Expenses by fiscal year
FY2022$54K
FY2023$57K
FY2024$66K
FY2025$81K
Net assets
$629K
FY2025▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2022$628K
FY2023$636K
FY2024$640K
FY2025$629K

From the FY2025 Form 990 (year ending September 2025) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2021.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $77K Management & general 5% · $4K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Carl Worthy
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Tuggle
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Scott Blake
Director
$0Pt VII · Sec A
Darold Sterling
President, Treasurer & Secretary
$0Pt VII · Sec A
See Central Alabama Development Corporation 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 15aNo

Programs and updates

Builds, manages, and finances affordable housing for low-income individuals and families.

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1 program · $77K · in their own filed words · FY2024
01

To provide decent, safe and sanitary housing for low- and moderate-income persons by acquiring, managing, or otherwise dealing with real property for the betterment of the community in the owning, renting, managing, selling, or financing homes, apartments, or other housing for persons of low income, including families, elderly…

$77Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$70K
Ln 12
Fees for servicesLn 2g$36K
Investment incomeLn 3$32K
Other incomeLn 4–11$2K
Money outPt IX
$81K
Ln 25
Programscol B$77K
Managementcol C$4K
Owns and owesPt X
$629K
net assets · Ln 32
Cash and savingsLn 1–2$146K
Total assetsLn 16$631K
LiabilitiesLn 26$2K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$36K
Investment incomeLn 3$32K
Other incomeLn 4–11$2K
Gains on assetsLn 7$22K
Total revenueLn 12$70K
Assets in detailPt X, end of year
CashLn 1$146K
Cash and savings togetherLn 1–2$146K
InvestmentsLn 11–13$265K
Land, buildings, equipmentLn 10c$209K
Total assetsLn 16$631K
LiabilitiesLn 26$2K
Net assetsLn 32$629K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderSeptember
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 FY25End FY25
Cash and savingsLn 1–2$154K$146K
InvestmentsLn 11–13$100K$265K
Land, buildings, equipmentLn 10c$370K$209K
Total assetsLn 16$643K$631K
LiabilitiesLn 26$3K$2K
Net assetsLn 32$640K$629K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$3K$3K
Other employee benefitsLn 9$1K$1K
Management feesLn 11a$8K$8K
Accounting feesLn 11c$5K$5K
Office expensesLn 13$2K$2K
OccupancyLn 16$859$859
Depreciation, depletion and amortizationLn 22$18K$18K
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$37K$37K
Total functional expensesLn 25$81K$77K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $70K$81K−$11K$629K 990 PDF
FY2024 $70K$66K$4K$640K 990 PDF
FY2023 $65K$57K$8K$636K 990 PDF
FY2022 $52K$54K−$2K$628K 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 FY2025 990 (6 parts)
Part I · Summary $69,867 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $53,880$35,683
I-10 Investment incomePrior year $12,000$32,259
I-11 Other revenuePrior year $3,787$1,925
I-12 Total revenuePrior year $69,667$69,867
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 $3,811$3,734
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $62,097$76,933
I-18 Total expensesPrior year $65,908$80,667
I-19 Revenue less expensesPrior year $3,759−$10,800
Part VI · Governance 6 of 6 board members independent, 1 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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 $69,867 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $35,683$35,683
VIII-3 Investment incomeExcluded from tax $10,376$10,376
VIII-7 Net gain or loss on sales of assetsExcluded from tax $21,883$21,883
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,925$1,925
VIII-12 Total revenueRelated to mission $37,608 · Unrelated business $0 · Excluded from tax $32,259$69,867
Part IX · Statement of functional expenses $80,667 across 9 lines filed
IX-7 Other salaries and wagesManagement $2,605$2,605
IX-9 Other employee benefitsManagement $1,129$1,129
IX-11a Management feesPrograms $8,047$8,047
IX-11c Accounting feesPrograms $4,838$4,838
IX-13 Office expensesPrograms $1,798$1,798
IX-16 OccupancyPrograms $859$859
IX-22 Depreciation, depletion and amortizationPrograms $17,543$17,543
IX-23 InsurancePrograms $6,510$6,510
IX-24 Other expenses (24a–d)Programs $37,338$37,338
IX-25 Total functional expensesPrograms $76,933 · Management $3,734 · Fundraising $0$80,667
Part X · Balance sheet $631,424 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $153,773$146,133
X-4 Accounts receivableStart of year $13,773$4,985
X-9 Prepaid expenses and deferred chargesStart of year $5,317$5,964
X-10c Land, buildings and equipment, netStart of year $370,002$209,342
X-13 Program-related investmentsStart of year $100,000$265,000
X-16 Total assetsStart of year $642,865$631,424
X-17 Accounts payable and accrued expensesStart of year $102$11
X-25 Other liabilitiesStart of year $3,000$2,450
X-26 Total liabilitiesStart of year $3,102$2,461
X-27 Net assets without donor restrictionsStart of year $639,763$628,963
X-32 Total net assets or fund balancesStart of year $639,763$628,963
X-33 Total liabilities and net assetsStart of year $642,865$631,424
Part XI · Reconciliation of net assets $628,963 net assets at year end
XI-1 Total revenue$69,867
XI-2 Total expenses$80,667
XI-3 Revenue less expenses−$10,800
XI-4 Net assets at start of year$639,763
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$628,963

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

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