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Riverview Apartments INC FY2020 filing

Not tax-deductible

La Crescent, MN501(c)(4)Since 1971 EIN 39-1204471Revenue $137K in FY2020

On file with the IRS412 S 3rd St, 55947-1329 · La Crescent, MNTax-exempt since Oct 1983

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To provide low income housing.

501(c)(4) social-welfare organization; gifts are not tax-deductible as charitable contributions.
88¢ 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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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
1 of 6
filings with a surplus
Average deficit $17K a year · 9% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$719K
104% of total assets
Concern: liabilities are 104% of assets; over 80%.
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
$137K
Spent
$190K
To programs
88%
Net assets
−$29K
By yearFY2020–FY2025
Revenue
$137K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$137K
FY2021$161K
FY2022$164K
FY2023$176K
FY2024$210K
FY2025$228K
Expenses
$190K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$190K
FY2021$171K
FY2022$180K
FY2023$201K
FY2024$197K
FY2025$237K
Net assets
−$29K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$29K
FY2021−$39K
FY2022−$55K
FY2023−$80K
FY2024−$67K
FY2025−$76K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 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 Oct 1983.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $167K Management & general 12% · $22K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Earl Adams
Vice President
$0Pt VII · Sec A
Lorene Harris
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Riverview Apartments INC 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

Riverview Apartments INC is a membership association based in La Crescent, MN, formed in 1971.

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Provided by the organization

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1 program · $167K · in their own filed words · FY2020
01

Provide low income housing

$167Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$137K
Ln 12
Fees for servicesLn 2g$137K
Investment incomeLn 3$128
Other incomeLn 4–11$30
Money outPt IX
$190K
Ln 25
Programscol B$167K
Managementcol C$22K
Owns and owesPt X
−$29K
net assets · Ln 32
Cash and savingsLn 1–2$103K
Total assetsLn 16$690K
LiabilitiesLn 26$719K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$137K
Investment incomeLn 3$128
Other incomeLn 4–11$30
Total revenueLn 12$137K
Assets in detailPt X, end of year
CashLn 1$26K
SavingsLn 2$77K
Cash and savings togetherLn 1–2$103K
Land, buildings, equipmentLn 10c$582K
Total assetsLn 16$690K
LiabilitiesLn 26$719K
Net assetsLn 32−$29K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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$114K$103K
Land, buildings, equipmentLn 10c$612K$582K
Total assetsLn 16$726K$690K
LiabilitiesLn 26$702K$719K
Net assetsLn 32$24K−$29K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$26K$26K
Management feesLn 11a$17K$17K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$540$540
Other fees for servicesLn 11g$51$51
Advertising and promotionLn 12$163$163
Office expensesLn 13$1K$1K
OccupancyLn 16$80K$80K
InterestLn 20$14K$14K
Depreciation, depletion and amortizationLn 22$41K$41K
InsuranceLn 23$5K$5K
Total functional expensesLn 25$190K$167K$22K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $228K$237K−$9K−$76K 990 PDF
FY2024Filed with the IRS May 21, 2025 $210K$197K$13K−$67K 990 PDF
FY2023Filed with the IRS Nov 15, 2024 $176K$201K−$25K−$80K 990 PDF
FY2022Filed with the IRS Nov 15, 2024 $164K$180K−$16K−$55K 990 PDF
FY2021Filed with the IRS Nov 9, 2022 $161K$171K−$10K−$39K 990 PDF
FY2020 ViewingFiled with the IRS Jul 21, 2021 $137K$190K−$52K−$29K 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 FY2020 990 (6 parts)
Part I · Summary $137,260 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $153,771$137,102
I-10 Investment incomePrior year $328$128
I-11 Other revenuePrior year $400$30
I-12 Total revenuePrior year $154,499$137,260
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $17,063$26,255
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $150,394$163,474
I-18 Total expensesPrior year $167,457$189,729
I-19 Revenue less expensesPrior year −$12,958−$52,469
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-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 $137,260 across 6 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $137,102 · Unrelated business $0 · Excluded from tax $0$137,102
VIII-3 Investment incomeRelated to mission $128 · Unrelated business $0 · Excluded from tax $0$128
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $30 · Unrelated business $0 · Excluded from tax $0$30
VIII-12 Total revenueRelated to mission $137,260 · Unrelated business $0 · Excluded from tax $0$137,260
Part IX · Statement of functional expenses $189,729 across 11 lines filed
IX-7 Other salaries and wagesPrograms $26,255$26,255
IX-11a Management feesManagement $16,756$16,756
IX-11b Legal feesManagement $4,927$4,927
IX-11c Accounting feesManagement $540$540
IX-11g Other fees for servicesManagement $51$51
IX-12 Advertising and promotionPrograms $163$163
IX-13 Office expensesPrograms $1,029$1,029
IX-16 OccupancyPrograms $79,682$79,682
IX-20 InterestPrograms $13,765$13,765
IX-22 Depreciation, depletion and amortizationPrograms $41,344$41,344
IX-23 InsurancePrograms $5,217$5,217
IX-25 Total functional expensesPrograms $167,455 · Management $22,274 · Fundraising $0$189,729
Part X · Balance sheet $689,718 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $35,598$25,716
X-2 Savings and temporary cash investmentsStart of year $78,539$76,810
X-4 Accounts receivableStart of year $0$5,035
X-10c Land, buildings and equipment, netStart of year $611,806$582,157
X-16 Total assetsStart of year $725,943$689,718
X-17 Accounts payable and accrued expensesStart of year $0$20,970
X-19 Deferred revenue$6,263
X-26 Total liabilitiesStart of year $701,577$718,931
X-27 Net assets without donor restrictionsStart of year $24,366−$29,213
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $24,366−$29,213
X-33 Total liabilities and net assetsStart of year $725,943$689,718
Part XI · Reconciliation of net assets −$29,213 net assets at year end
XI-1 Total revenue$137,260
XI-2 Total expenses$189,729
XI-3 Revenue less expenses−$52,469
XI-4 Net assets at start of year$24,366
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments−$1,110
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$29,213

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

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