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Three Oaks Circle INC FY2021 filing

Tax-deductible

Waukesha, WI501(c)(3)Since 1999HousingEIN 39-1959616

To provide housing for low income elderly individuals.

501(c)(3) charity; gifts are tax-deductible.
69¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
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
0 of 4
filings with a surplus
Average deficit $108K a year · 31% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
69%
of spending
Fine: 69% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.8M
197% of total assets
Concern: liabilities are 197% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$337K
Spent
$419K
To programs
69%
Net assets
−$1.9M
By yearFY2021–FY2024
Revenue
$337K
FY2021
Revenue by fiscal year
FY2021$337K
FY2022$332K
FY2023$353K
FY2024$362K
FY2024$378K
Expenses
$419K
FY2021
Expenses by fiscal year
FY2021$419K
FY2022$453K
FY2023$474K
FY2024$472K
FY2024$508K
Net assets
−$1.9M
FY2021
Net assets by fiscal year
FY2021−$1.9M
FY2022−$2.0M
FY2023−$2.1M
FY2024−$2.2M
FY2024−$2.4M

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

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You’re viewing the FY2021 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 Jun 1999.

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

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $290K Management & general 31% · $129K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Ms Lisa Mecha
Treasurer/Di
$0Pt VII · Sec A
Mr Jerome Neary
Chair/Direct
$0Pt VII · Sec A
$0Pt VII · Sec A
See Three Oaks Circle 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

Offers housing to low-income seniors.

Provided by the organization

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1 program service account for $290K of program spending, described in the organization's own filed words · FY2020.
01

Three oaks circle, inc. Constructed and operates a 49 unit rental housing project for qualified low income elderly individuals.

$290Kprogram expense

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By the numbers

The FY2021 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$337K
Ln 12
Fees for servicesLn 2g$332K
Other incomeLn 4–11$6K
Investment incomeLn 3$163
Money outPt IX
$419K
Ln 25
Programscol B$290K
Managementcol C$129K
Owns and owesPt X
−$1.9M
net assets · Ln 32
Cash and savingsLn 1–2$70K
Total assetsLn 16$1.9M
LiabilitiesLn 26$3.8M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$332K
Investment incomeLn 3$163
Other incomeLn 4–11$6K
Total revenueLn 12$337K
Assets in detailPt X, end of year
CashLn 1$70K
Cash and savings togetherLn 1–2$70K
Land, buildings, equipmentLn 10c$1.7M
Other assetsLn 15$151K
Total assetsLn 16$1.9M
LiabilitiesLn 26$3.8M
Net assetsLn 32−$1.9M
OperationsPt I, VI
EmployeesI 50
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$101K$70K
Land, buildings, equipmentLn 10c$1.8M$1.7M
Total assetsLn 16$2.0M$1.9M
LiabilitiesLn 26$3.9M$3.8M
Net assetsLn 32−$1.8M−$1.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$29K$29K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$9K$9K
Other fees for servicesLn 11g$79K$19K$60K
Advertising and promotionLn 12$223$223
Office expensesLn 13$13K$13K
Depreciation, depletion and amortizationLn 22$155K$155K
InsuranceLn 23$25K$25K
Other expenses (24a–d)Ln 24$86K$86K
All other expensesLn 24e$16K$6K$10K
Total functional expensesLn 25$419K$290K$129K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $362K$472K−$110K−$2.2M 990 PDF
FY2023 $353K$474K−$121K−$2.1M 990 PDF
FY2022 $332K$453K−$121K−$2.0M 990 PDF
FY2021 Viewing $337K$419K−$82K−$1.9M 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $337,288 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $331,622$331,622
VIII-3 Investment incomeRelated to mission $163$163
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $5,503$5,503
VIII-12 Total revenueRelated to mission $331,785 · Excluded from tax $5,503$337,288
Part IX · Statement of functional expenses $418,834 across 10 lines filed
IX-11a Management feesManagement $28,812$28,812
IX-11b Legal feesManagement $7,940$7,940
IX-11c Accounting feesManagement $9,047$9,047
IX-11g Other fees for servicesPrograms $19,126 · Management $59,919$79,045
IX-12 Advertising and promotionManagement $223$223
IX-13 Office expensesManagement $12,741$12,741
IX-22 Depreciation, depletion and amortizationPrograms $154,965$154,965
IX-23 InsurancePrograms $24,642$24,642
IX-24 Other expenses (24a–d)Programs $85,586$85,586
IX-24e All other expensesPrograms $6,004 · Management $9,829$15,833
IX-25 Total functional expensesPrograms $290,323 · Management $128,511 · Fundraising $0$418,834
Part X · Balance sheet $1,944,562 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $101,139$69,985
X-4 Accounts receivableStart of year $1,300$862
X-9 Prepaid expenses and deferred chargesStart of year $2,563$2,557
X-10c Land, buildings and equipment, netStart of year $1,791,041$1,704,339
X-14 Intangible assetsStart of year $16,906$15,324
X-15 Other assetsStart of year $133,619$151,495
X-16 Total assetsStart of year $2,046,568$1,944,562
X-17 Accounts payable and accrued expensesStart of year $101,214$80,722
X-25 Other liabilitiesStart of year $14,656$14,688
X-26 Total liabilitiesStart of year $3,858,370$3,837,910
X-27 Net assets without donor restrictionsStart of year −$1,811,802−$1,893,348
X-32 Total net assets or fund balancesStart of year −$1,811,802−$1,893,348
X-33 Total liabilities and net assetsStart of year $2,046,568$1,944,562
Part XI · Reconciliation of net assets −$1,893,348 net assets at year end
XI-1 Total revenue$337,288
XI-2 Total expenses$418,834
XI-3 Revenue less expenses−$81,546
XI-4 Net assets at start of year−$1,811,802
XI-10 Net assets at end of year−$1,893,348

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

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