Housing Resources INC FY2020 filing

Tax-deductible

Kalamazoo, MI501(c)(3)EIN 38-2474879Revenue $5.7M in FY2020

On file with the IRShousingresourcesinc.org643 W Crosstown Pkwy, 49008-1910 · Kalamazoo, MITax-exempt since Oct 1983Publicly supported charity — 170(b)(1)(A)(vi)

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To assure Housing for socially and economically vulnerable residents of kalamazoo county.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
$93K 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

FY2020 · 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
3 of 5
filings with a surplus
Average deficit $19K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$93K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $352K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$447K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.7M
Spent
$5.3M
To programs
94%
Net assets
$7.0M
By yearFY2020–FY2024
Revenue
$5.7M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$5.7M
FY2021$28.1M
FY2022$25.9M
FY2023$4.1M
FY2024$2.9M
Expenses
$5.3M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$5.3M
FY2021$27.6M
FY2022$25.9M
FY2023$4.6M
FY2024$3.3M
Net assets
$7.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$7.0M
FY2021$7.7M
FY2022$7.2M
FY2023$7.0M
FY2024$6.7M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1983.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $5.0M Management & general 5% · $258K Fundraising 1% · $37K

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

16 people listed on the 990; $93K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$92,643Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Michelle Davis$121,002$101,607$90,922$91,203$92,643

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.

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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 housing for vulnerable residents in Kalamazoo County.

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Provided by the organization

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2 programs · $5.0M · in their own filed words · FY2020
01

Housing stabilization program, housing resources, inc. Is kalamazoo county's lead housing agency for coordinated intake and assessment in providing information and referral, crisis intervention, shelter diversion, and homeless prevention activities to people faced with an eviction, condemnation or any other circumstances related to a…

$4.6Mprogram expense
02

Housing development and property services program, housing resources, inc. Also develops and manages four low-income housing tax credit properties, which include pinehurst townhomes, summit park apartments, kalamazoo rosewood, and rickman house and provides support services to tenants as needed.

$343Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 3 funders$352K
See all 3 funders →
Grants paid · 4 grants · $28.4M · 2021–2022
Integrated Services of KalamazooFY2022$9,956,231
Open Doors KalamazooMI · FY2022$4,790,121
Integrated Services of KalamazooFY2021$7,998,081
Open Doors KalamazooMI · FY2021$5,674,867

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$5.7M
Ln 12
Gifts and grantsLn 1h$5.3M
Fees for servicesLn 2g$187K
Investment incomeLn 3$169K
Money outPt IX
$5.3M
Ln 25
Programscol B$5.0M
Managementcol C$258K
Fundraisingcol D$37K
Owns and owesPt X
$7.0M
net assets · Ln 32
Cash and savingsLn 1–2$820K
Total assetsLn 16$7.4M
LiabilitiesLn 26$447K
PeoplePt VI, VII
16
listed · VII A
PaidVII A1
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.3M
Government grantsLn 1e$4.3M
Fundraising eventsLn 1c$176K
Fees for servicesLn 2g$187K
Investment incomeLn 3$169K
Gains on assetsLn 7$111K
Total revenueLn 12$5.7M
Assets in detailPt X, end of year
CashLn 1$820K
Cash and savings togetherLn 1–2$820K
InvestmentsLn 11–13$4.6M
Land, buildings, equipmentLn 10c$284K
Other assetsLn 15$642K
Total assetsLn 16$7.4M
LiabilitiesLn 26$447K
Net assetsLn 32$7.0M
OperationsPt I, VI
EmployeesI 563
VolunteersI 6120
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 FY20End FY20
Cash and savingsLn 1–2$161K$820K
InvestmentsLn 11–13$4.0M$4.6M
Land, buildings, equipmentLn 10c$273K$284K
Total assetsLn 16$6.4M$7.4M
LiabilitiesLn 26$97K$447K
Net assetsLn 32$6.3M$7.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$104K$89K$12K$3K
Other salaries and wagesLn 7$1.1M$941K$129K$30K
Pension plan contributionsLn 8$8K$6K$2K$544
Other employee benefitsLn 9$142K$133K$8K$2K
Payroll taxesLn 10$89K$75K$12K$3K
Legal feesLn 11b$9K$4K$6K
Accounting feesLn 11c$32K$13K$19K
Investment management feesLn 11f$19K$8K$11K
Other fees for servicesLn 11g$205K$187K$18K
Office expensesLn 13$60K$41K$19K
OccupancyLn 16$56K$45K$12K
Conferences, conventions and meetingsLn 19$4K$2K$2K
InterestLn 20$1K$1K
Depreciation, depletion and amortizationLn 22$14K$11K$3K
InsuranceLn 23$23K$21K$2K
Other expenses (24a–d)Ln 24$3.4M$3.4M$4K
Total functional expensesLn 25$5.3M$5.0M$258K$37K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.9M$3.3M−$467K$6.7M 990 PDF
FY2023 $4.1M$4.6M−$570K$7.0M 990 PDF
FY2022 $25.9M$25.9M$15K$7.2M 990 PDF
FY2021 $28.1M$27.6M$525K$7.7M 990 PDF
FY2020 Viewing $5.7M$5.3M$400K$7.0M 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 FY2020 990 (6 parts)
Part I · Summary $5,667,348 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,130,182$5,327,893
I-9 Program service revenuePrior year $151,324$187,262
I-10 Investment incomePrior year $273,255$168,876
I-11 Other revenuePrior year −$17,732−$16,683
I-12 Total revenuePrior year $3,537,029$5,667,348
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 $1,205,169$1,442,904
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,935,908$3,824,087
I-18 Total expensesPrior year $4,141,077$5,266,991
I-19 Revenue less expensesPrior year −$604,048$400,357
Part VI · Governance 15 of 15 board members independent, no flags
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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 $5,667,348 across 9 lines filed
VIII-1c Fundraising events$176,262
VIII-1e Government grants$4,264,051
VIII-1f All other contributions, gifts and grants$887,580
VIII-1h Total contributions, gifts and grants$5,327,893
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $187,262$187,262
VIII-3 Investment incomeExcluded from tax $57,900$57,900
VIII-7 Net gain or loss on sales of assetsExcluded from tax $110,976$110,976
VIII-8 Net income from fundraising eventsExcluded from tax −$16,683−$16,683
VIII-12 Total revenueRelated to mission $187,262 · Unrelated business $0 · Excluded from tax $152,193$5,667,348
Part IX · Statement of functional expenses $5,266,991 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $88,605 · Management $12,370 · Fundraising $2,913$103,888
IX-7 Other salaries and wagesPrograms $941,057 · Management $128,748 · Fundraising $29,541$1,099,346
IX-8 Pension plan contributionsPrograms $6,042 · Management $1,556 · Fundraising $544$8,142
IX-9 Other employee benefitsPrograms $133,069 · Management $7,536 · Fundraising $1,546$142,151
IX-10 Payroll taxesPrograms $75,116 · Management $11,671 · Fundraising $2,590$89,377
IX-11b Legal feesPrograms $3,761 · Management $5,641$9,402
IX-11c Accounting feesPrograms $12,680 · Management $19,020$31,700
IX-11f Investment management feesPrograms $7,554 · Management $11,330$18,884
IX-11g Other fees for servicesPrograms $186,607 · Management $18,247$204,854
IX-13 Office expensesPrograms $41,314 · Management $18,999$60,313
IX-16 OccupancyPrograms $44,595 · Management $11,649$56,244
IX-19 Conferences, conventions and meetingsPrograms $1,711 · Management $2,198$3,909
IX-20 InterestManagement $1,360$1,360
IX-22 Depreciation, depletion and amortizationPrograms $11,045 · Management $2,761$13,806
IX-23 InsurancePrograms $21,234 · Management $1,653$22,887
IX-24 Other expenses (24a–d)Programs $3,397,068 · Management $3,660$3,400,728
IX-25 Total functional expensesPrograms $4,971,458 · Management $258,399 · Fundraising $37,134$5,266,991
Part X · Balance sheet $7,409,707 assets, 15 lines filed
Asset lines not itemized here account for $579,333; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $161,287$819,970
X-3 Pledges and grants receivableStart of year $728,044$494,801
X-9 Prepaid expenses and deferred chargesStart of year $32,450$36,584
X-10c Land, buildings and equipment, netStart of year $272,881$283,902
X-12 Other securitiesStart of year $2,450,526$2,829,629
X-13 Program-related investmentsStart of year $1,569,305$1,723,987
X-15 Other assetsStart of year $590,385$641,501
X-16 Total assetsStart of year $6,379,000$7,409,707
X-17 Accounts payable and accrued expensesStart of year $96,708$121,866
X-19 Deferred revenue$324,966
X-26 Total liabilitiesStart of year $96,708$446,832
X-27 Net assets without donor restrictionsStart of year $5,936,261$6,555,843
X-28 Net assets with donor restrictionsStart of year $346,031$407,032
X-32 Total net assets or fund balancesStart of year $6,282,292$6,962,875
X-33 Total liabilities and net assetsStart of year $6,379,000$7,409,707
Part XI · Reconciliation of net assets $6,962,875 net assets at year end
XI-1 Total revenue$5,667,348
XI-2 Total expenses$5,266,991
XI-3 Revenue less expenses$400,357
XI-4 Net assets at start of year$6,282,292
XI-5 Net unrealized gains (losses) on investments$280,226
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,962,875

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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