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Springhill Housing Corporation

Tax-deductible

Troy, MI501(c)(3)HousingEIN 38-2956439Revenue $823K in FY2024

On file with the IRS5505 Corporate Drive 300, 48098-2614 · Troy, MITax-exempt since Dec 1991Publicly supported — 509(a)(2)

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To provide low income Housing to individuals with disabilities.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Run by 7 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
4 of 5
filings with a surplus
Average surplus $363K a year · 30% of revenue · last 5 filings
Fine: a surplus in 4 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
Cash reserves
8 mo
of spending, in cash
Looks good: 7.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.4M
40% of total assets
Looks good: liabilities are 40% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$823K
-31% vs prior year
Spent
$968K
To programs
94%
Net assets
$3.6M
By yearFY2020–FY2024
Revenue
$823K
FY2024▼ -31%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$1.3M
FY2022$1.6M
FY2023$1.2M
FY2024$823K
Expenses
$968K
FY2024▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$769K
FY2021$822K
FY2022$863K
FY2023$897K
FY2024$968K
Net assets
$3.6M
FY2024▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.8M
FY2021$2.5M
FY2022$3.0M
FY2023$3.5M
FY2024$3.6M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1991.

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% · $907K Management & general 6% · $61K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Philip Clark
Secretary/Treasurer
$0Pt VII · Sec A
Derek Girton
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Marc Craig
Authorized Agent (ended 09/2024)
$0Pt VII · Sec A
Kirsten Elliott
Authorized Agent
$0Pt VII · Sec A
Carrie Mendoza
Authorized Agent
$0Pt VII · Sec A
Michelle Brinkmann
Authorized Agent
$0Pt VII · Sec A
See Springhill Housing 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

Offers affordable housing to people with disabilities.

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Provided by the organization

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2 programs · $907K · in their own filed words · FY2024
01

Providing low income housing to individuals with disabilities in the metro detroit area and providing affordable permanent housing options through the development of rental properties.

$617Kprogram expense
02

The corporation is the trustee for two special needs pooled trusts: springhill first-party pooled trust and the springhill third-party pooled trust. Proceeds from the trusts are used to further the corporation's mission.

$290Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$823K
Ln 12
Fees for servicesLn 2g$744K
Investment incomeLn 3$79K
Money outPt IX
$968K
Ln 25
Programscol B$907K
Managementcol C$61K
Owns and owesPt X
$3.6M
net assets · Ln 32
Cash and savingsLn 1–2$617K
Total assetsLn 16$6.1M
LiabilitiesLn 26$2.4M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$744K
Investment incomeLn 3$79K
Total revenueLn 12$823K
Assets in detailPt X, end of year
CashLn 1$617K
Cash and savings togetherLn 1–2$617K
InvestmentsLn 11–13$2.6M
Land, buildings, equipmentLn 10c$2.6M
Other assetsLn 15$99K
Total assetsLn 16$6.1M
LiabilitiesLn 26$2.4M
Net assetsLn 32$3.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$354K$617K
InvestmentsLn 11–13$2.7M$2.6M
Land, buildings, equipmentLn 10c$2.6M$2.6M
Total assetsLn 16$6.0M$6.1M
LiabilitiesLn 26$2.5M$2.4M
Net assetsLn 32$3.5M$3.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$157K$120K$37K
Management feesLn 11a$121K$121K
Legal feesLn 11b$22K$20K$2K
Accounting feesLn 11c$12K$12K
Investment management feesLn 11f$9K$9K
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$16K$16K
Office expensesLn 13$3K$562$2K
OccupancyLn 16$417K$417K
TravelLn 17$6K$6K
Conferences, conventions and meetingsLn 19$4K$4K
Depreciation, depletion and amortizationLn 22$135K$135K
Other expenses (24a–d)Ln 24$65K$63K$2K
Total functional expensesLn 25$968K$907K$61K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $823K$968K−$145K$3.6M 990 PDF
FY2023 $1.2M$897K$301K$3.5M 990 PDF
FY2022 $1.6M$863K$779K$3.0M 990 PDF
FY2021 $1.3M$822K$521K$2.5M 990 PDF
FY2020 $1.1M$769K$361K$1.8M 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 FY2024 990 (6 parts)
Part I · Summary $822,869 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $113,262$0
I-9 Program service revenuePrior year $1,022,418$743,696
I-10 Investment incomePrior year $62,983$79,173
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,198,663$822,869
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 $0$156,993
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $897,415$810,861
I-18 Total expensesPrior year $897,415$967,854
I-19 Revenue less expensesPrior year $301,248−$144,985
Part VI · Governance 4 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-13 Written whistleblower policyNo
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-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $822,869 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $743,696$743,696
VIII-3 Investment incomeExcluded from tax $79,173$79,173
VIII-12 Total revenueRelated to mission $743,696 · Unrelated business $0 · Excluded from tax $79,173$822,869
Part IX · Statement of functional expenses $967,854 across 13 lines filed
IX-7 Other salaries and wagesPrograms $120,401 · Management $36,592$156,993
IX-11a Management feesPrograms $120,640$120,640
IX-11b Legal feesPrograms $19,933 · Management $2,300$22,233
IX-11c Accounting feesManagement $11,750$11,750
IX-11f Investment management feesPrograms $8,771$8,771
IX-11g Other fees for servicesManagement $2,400$2,400
IX-12 Advertising and promotionPrograms $15,654$15,654
IX-13 Office expensesPrograms $562 · Management $2,477$3,039
IX-16 OccupancyPrograms $417,456$417,456
IX-17 TravelPrograms $6,019$6,019
IX-19 Conferences, conventions and meetingsManagement $3,694$3,694
IX-22 Depreciation, depletion and amortizationPrograms $134,529$134,529
IX-24 Other expenses (24a–d)Programs $63,062 · Management $1,614$64,676
IX-25 Total functional expensesPrograms $907,027 · Management $60,827 · Fundraising $0$967,854
Part X · Balance sheet $6,075,552 assets, 14 lines filed
Asset lines not itemized here account for $23,808; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $354,326$617,387
X-4 Accounts receivableStart of year $57,722$32,331
X-9 Prepaid expenses and deferred chargesStart of year $42,368$44,826
X-10c Land, buildings and equipment, netStart of year $2,649,577$2,609,299
X-13 Program-related investmentsStart of year $2,738,957$2,649,385
X-15 Other assetsStart of year $192,570$98,516
X-16 Total assetsStart of year $6,035,520$6,075,552
X-17 Accounts payable and accrued expensesStart of year $113,172$65,195
X-18 Grants payableStart of year $1,607,431$1,607,431
X-25 Other liabilitiesStart of year $10,694$11,960
X-26 Total liabilitiesStart of year $2,492,647$2,447,870
X-27 Net assets without donor restrictionsStart of year $3,542,873$3,627,682
X-32 Total net assets or fund balancesStart of year $3,542,873$3,627,682
X-33 Total liabilities and net assetsStart of year $6,035,520$6,075,552
Part XI · Reconciliation of net assets $3,627,682 net assets at year end
XI-1 Total revenue$822,869
XI-2 Total expenses$967,854
XI-3 Revenue less expenses−$144,985
XI-4 Net assets at start of year$3,542,873
XI-5 Net unrealized gains (losses) on investments$229,794
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,627,682

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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