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Hadley Terrace INC FY2021 filing

Tax-deductible

Milwaukee, WI501(c)(3) EIN 39-1780021Revenue $628K in FY2021

On file with the IRShadleyterrace.org3515 W Hadley Street, 53210-2563 · Milwaukee, WITax-exempt since May 1994Supporting organization — 509(a)(3)

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Provide low income housing to the elderly

501(c)(3) charity; gifts are tax-deductible.
79¢ 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
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
0 of 5
filings with a surplus
Average deficit $116K a year · 17% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$53K
3% of total assets
Looks good: liabilities are 3% 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
$628K
Spent
$759K
To programs
79%
Net assets
$1.7M
By yearFY2021–FY2025
Revenue
$628K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$628K
FY2022$662K
FY2023$697K
FY2024$741K
FY2025$763K
Expenses
$759K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$759K
FY2022$791K
FY2023$813K
FY2024$829K
FY2025$877K
Net assets
$1.7M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$1.7M
FY2022$1.6M
FY2023$1.5M
FY2024$1.4M
FY2025$1.3M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 May 1994.

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $596K Management & general 21% · $163K

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 (FY2020); the FY2021 filing did not itemize Part VII
William Bode
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Gary Messing
Treasurer
$0Pt VII · Sec A
Sister Grace Mary Croft
VP & Sponsorship Representative
$0Pt VII · Sec A
$0Pt VII · Sec A
See Hadley Terrace 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

Builds and manages affordable homes for seniors.

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1 program · $596K · in their own filed words · FY2020
01

Hadley terrace, inc. Is a nonprofit, nonstock corporation which operates an apartment project in milwaukee, wi, consisting of 60 apartments which are rented to low-income elderly persons. The corporation is operated under section 202 of the national housing act and regulated by the U.S.

$596Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$628K
Ln 12
Gifts and grantsLn 1h$414K
Fees for servicesLn 2g$209K
Other incomeLn 4–11$5K
Money outPt IX
$759K
Ln 25
Programscol B$596K
Managementcol C$163K
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$161K
Total assetsLn 16$1.8M
LiabilitiesLn 26$53K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$414K
Government grantsLn 1e$414K
Fees for servicesLn 2g$209K
Investment incomeLn 3$27
Other incomeLn 4–11$5K
Gains on assetsLn 7−$2K
Total revenueLn 12$628K
Assets in detailPt X, end of year
CashLn 1$4K
SavingsLn 2$157K
Cash and savings togetherLn 1–2$161K
Land, buildings, equipmentLn 10c$1.6M
Total assetsLn 16$1.8M
LiabilitiesLn 26$53K
Net assetsLn 32$1.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$165K$161K
Land, buildings, equipmentLn 10c$1.7M$1.6M
Total assetsLn 16$1.9M$1.8M
LiabilitiesLn 26$37K$53K
Net assetsLn 32$1.9M$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$39K$39K
Legal feesLn 11b$105$105
Accounting feesLn 11c$21K$21K
Other fees for servicesLn 11g$275K$275K
Advertising and promotionLn 12$481$481
Office expensesLn 13$33K$17K$16K
OccupancyLn 16$56K$51K$5K
Depreciation, depletion and amortizationLn 22$154K$154K
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$165K$85K$80K
All other expensesLn 24e$951$951
Total functional expensesLn 25$759K$596K$163K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $763K$877K−$114K$1.3M 990 PDF
FY2024 $741K$829K−$88K$1.4M 990 PDF
FY2023 $697K$813K−$116K$1.5M 990 PDF
FY2022 $662K$791K−$129K$1.6M 990 PDF
FY2021 Viewing $628K$759K−$131K$1.7M 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 $628,380 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $426,760$413,789
I-9 Program service revenuePrior year $218,544$209,117
I-10 Investment incomePrior year $35−$2,233
I-11 Other revenuePrior year $5,580$7,707
I-12 Total revenuePrior year $650,919$628,380
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 $156,733$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $574,413$759,348
I-18 Total expensesPrior year $731,146$759,348
I-19 Revenue less expensesPrior year −$80,227−$130,968
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction 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
Part VIII · Statement of revenue $628,380 across 7 lines filed
Lines not itemized here account for $1,006 of total revenue; see the IRS return.
VIII-1e Government grants$413,789
VIII-1h Total contributions, gifts and grants$413,789
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $209,117$209,117
VIII-3 Investment incomeExcluded from tax $27$27
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$2,260−$2,260
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $6,701$6,701
VIII-12 Total revenueRelated to mission $209,117 · Unrelated business $0 · Excluded from tax $5,474$628,380
Part IX · Statement of functional expenses $759,348 across 11 lines filed
IX-11a Management feesManagement $39,180$39,180
IX-11b Legal feesManagement $105$105
IX-11c Accounting feesManagement $20,840$20,840
IX-11g Other fees for servicesPrograms $275,381$275,381
IX-12 Advertising and promotionManagement $481$481
IX-13 Office expensesPrograms $16,568 · Management $15,940$32,508
IX-16 OccupancyPrograms $51,221 · Management $5,121$56,342
IX-22 Depreciation, depletion and amortizationPrograms $154,099$154,099
IX-23 InsurancePrograms $14,296$14,296
IX-24 Other expenses (24a–d)Programs $84,913 · Management $80,252$165,165
IX-24e All other expensesManagement $951$951
IX-25 Total functional expensesPrograms $596,478 · Management $162,870 · Fundraising $0$759,348
Part X · Balance sheet $1,789,356 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $18,233$4,073
X-2 Savings and temporary cash investmentsStart of year $146,729$157,223
X-4 Accounts receivableStart of year $2,387$827
X-9 Prepaid expenses and deferred chargesStart of year $100$652
X-10c Land, buildings and equipment, netStart of year $1,737,328$1,626,581
X-16 Total assetsStart of year $1,904,777$1,789,356
X-17 Accounts payable and accrued expensesStart of year $37,136$35,502
X-19 Deferred revenueStart of year $355$815
X-25 Other liabilitiesStart of year $0$16,721
X-26 Total liabilitiesStart of year $37,491$53,038
X-27 Net assets without donor restrictionsStart of year −$1,742,114−$1,873,082
X-28 Net assets with donor restrictionsStart of year $3,609,400$3,609,400
X-32 Total net assets or fund balancesStart of year $1,867,286$1,736,318
X-33 Total liabilities and net assetsStart of year $1,904,777$1,789,356
Part XI · Reconciliation of net assets $1,736,318 net assets at year end
XI-1 Total revenue$628,380
XI-2 Total expenses$759,348
XI-3 Revenue less expenses−$130,968
XI-4 Net assets at start of year$1,867,286
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,736,318

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

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