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Big Rapids Housing Commission FY2021 filing

Tax-deductible

Big Rapids, MI501(c)(3)Housing EIN 38-2884843Revenue $179K in FY2021

On file with the IRSbigrapidshousing.org9 Parkview Vlg, 49307-1515 · Big Rapids, MITax-exempt since Jan 2002Supporting organization — 509(a)(3)

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To provide affordable Housing

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · 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
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $30K a year · 43% 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
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
22 mo
of spending, in cash
Looks good: 22.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$435K
64% of total assets
Fine: liabilities are 64% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$179K
+148% vs prior year
Spent
$41K
To programs
75%
Net assets
$246K
By yearFY2020–FY2023
Revenue
$179K
FY2021▲ +148%
Tap a bar for its year
Revenue by fiscal year
FY2020$72K
FY2021$179K
FY2022$38K
FY2023−$10K
Expenses
$41K
FY2021▼ -8%
Tap a bar for its year
Expenses by fiscal year
FY2020$45K
FY2021$41K
FY2022$41K
FY2023$32K
Net assets
$246K
FY2021▲ +127%
Tap a bar for its year
Net assets by fiscal year
FY2020$109K
FY2021$246K
FY2022$165K
FY2023$123K

From the FY2021 Form 990 (year ending March 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Jan 2002.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $31K Management & general 25% · $10K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Mark Sochocki
Executive Di
$0Pt VII · Sec A
Dan Farrow
President
$0Pt VII · Sec A
Beth Krueger
Vice Preside
$0Pt VII · Sec A
Gwen Chapman
Director
$0Pt VII · Sec A
Ruth York
Director
$0Pt VII · Sec A
Susan Sims
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Big Rapids Housing Commission 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 15aYes

Programs and updates

Big Rapids Housing Commission is a housing supporting organization based in Big Rapids, MI.

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Provided by the organization

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1 program · $31K · in their own filed words · FY2020
01

Develop and operate affordable housing.

$31Kprogram expense

By the numbers

The FY2021 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$179K
Ln 12
Other incomeLn 4–11$110K
Investment incomeLn 3$41K
Fees for servicesLn 2g$28K
Money outPt IX
$41K
Ln 25
Programscol B$31K
Managementcol C$10K
Owns and owesPt X
$246K
net assets · Ln 32
Cash and savingsLn 1–2$77K
Total assetsLn 16$681K
LiabilitiesLn 26$435K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$28K
Investment incomeLn 3$41K
Other incomeLn 4–11$110K
Gains on assetsLn 7$41K
Total revenueLn 12$179K
Assets in detailPt X, end of year
CashLn 1$45K
SavingsLn 2$32K
Cash and savings togetherLn 1–2$77K
Land, buildings, equipmentLn 10c$599K
Total assetsLn 16$681K
LiabilitiesLn 26$435K
Net assetsLn 32$246K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$98K$77K
Land, buildings, equipmentLn 10c$739K$599K
Total assetsLn 16$840K$681K
LiabilitiesLn 26$731K$435K
Net assetsLn 32$109K$246K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1K$1K
Other employee benefitsLn 9$7K$7K
Accounting feesLn 11c$1K$1K
OccupancyLn 16$5K$5K
InterestLn 20$6K$6K
Depreciation, depletion and amortizationLn 22$12K$12K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$8K$7K$1K
All other expensesLn 24e$596$596
Total functional expensesLn 25$41K$31K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest −$10K$32K−$41K$123K 990 PDF
FY2022 $38K$41K−$3K$165K 990 PDF
FY2021 Viewing $179K$41K$138K$246K 990 PDF
FY2020 $72K$45K$27K$109K 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 FY2021 990 (6 parts)
Part I · Summary $179,067 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $30,550$28,185
I-10 Investment incomePrior year $24,841$41,215
I-11 Other revenuePrior year $16,727$109,667
I-12 Total revenuePrior year $72,118$179,067
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,270$7,929
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $41,627$33,461
I-18 Total expensesPrior year $44,897$41,390
I-19 Revenue less expensesPrior year $27,221$137,677
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $179,067 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $28,185$28,185
VIII-3 Investment incomeExcluded from tax $67$67
VIII-7 Net gain or loss on sales of assetsRelated to mission $41,148$41,148
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $103,772 · Excluded from tax $5,895$109,667
VIII-12 Total revenueRelated to mission $173,105 · Excluded from tax $5,962$179,067
Part IX · Statement of functional expenses $41,390 across 9 lines filed
IX-7 Other salaries and wagesManagement $1,310$1,310
IX-9 Other employee benefitsManagement $6,619$6,619
IX-11c Accounting feesManagement $1,001$1,001
IX-16 OccupancyPrograms $4,712$4,712
IX-20 InterestPrograms $6,245$6,245
IX-22 Depreciation, depletion and amortizationPrograms $11,579$11,579
IX-23 InsurancePrograms $1,137$1,137
IX-24 Other expenses (24a–d)Programs $6,778 · Management $1,413$8,191
IX-24e All other expensesPrograms $596$596
IX-25 Total functional expensesPrograms $31,047 · Management $10,343 · Fundraising $0$41,390
Part X · Balance sheet $681,042 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $65,584$45,145
X-2 Savings and temporary cash investmentsStart of year $32,080$32,136
X-3 Pledges and grants receivableStart of year $1,803$3,382
X-9 Prepaid expenses and deferred chargesStart of year $890$1,234
X-10c Land, buildings and equipment, netStart of year $739,428$599,145
X-16 Total assetsStart of year $839,850$681,042
X-17 Accounts payable and accrued expensesStart of year $32,465$10,245
X-25 Other liabilitiesStart of year $698,650$424,385
X-26 Total liabilitiesStart of year $731,115$434,630
X-27 Net assets without donor restrictionsStart of year $108,735$246,412
X-32 Total net assets or fund balancesStart of year $108,735$246,412
X-33 Total liabilities and net assetsStart of year $839,850$681,042
Part XI · Reconciliation of net assets $246,412 net assets at year end
XI-1 Total revenue$179,067
XI-2 Total expenses$41,390
XI-3 Revenue less expenses$137,677
XI-4 Net assets at start of year$108,735
XI-10 Net assets at end of year$246,412

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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