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Three Oaks Circle INC FY2024 filing

Tax-deductible

Waukesha, WI501(c)(3)Since 1999HousingEIN 39-1959616Revenue $362K in FY2024

On file with the IRScapricommunities.com20875 Crossroads Cir Ste 400, 53186-4026 · Waukesha, WITax-exempt since Jun 1999Publicly supported — 509(a)(2)

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To provide housing for low income elderly individuals.

501(c)(3) charity; gifts are tax-deductible.
68¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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
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
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.8M
248% of total assets
Concern: liabilities are 248% of assets; over 80%.
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
$362K
+3% vs prior year
Spent
$472K
To programs
68%
Net assets
−$2.2M
By yearFY2021–FY2024
Revenue
$362K
FY2024▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2021$337K
FY2022$332K
FY2023$353K
FY2024$362K
FY2024$378K
Expenses
$472K
FY2024-0.3%
Tap a bar for its year
Expenses by fiscal year
FY2021$419K
FY2022$453K
FY2023$474K
FY2024$472K
FY2024$508K
Net assets
−$2.2M
FY2024▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2021−$1.9M
FY2022−$2.0M
FY2023−$2.1M
FY2024−$2.2M
FY2024−$2.4M

From the FY2024 Form 990 (year ending June 2024) · see the original

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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

68 cents of each dollar spent went to programs.

Program services 68% · $322K Management & general 32% · $151K

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 (FY2023); the FY2024 filing did not itemize Part VII
Katherine Andersen
Secretary/Di
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mr Jerome Neary
President/Di
$0Pt VII · Sec A
Wayne Rappold
Treasurer/Di
$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.

Questions for Three Oaks Circle INC

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Provided by the organization

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1 program · $322K · in their own filed words · FY2023
01

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

$322Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$362K
Ln 12
Fees for servicesLn 2g$354K
Other incomeLn 4–11$5K
Investment incomeLn 3$3K
Money outPt IX
$472K
Ln 25
Programscol B$322K
Managementcol C$151K
Owns and owesPt X
−$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$10K
Total assetsLn 16$1.5M
LiabilitiesLn 26$3.8M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$354K
Investment incomeLn 3$3K
Other incomeLn 4–11$5K
Total revenueLn 12$362K
Assets in detailPt X, end of year
CashLn 1$10K
Cash and savings togetherLn 1–2$10K
Land, buildings, equipmentLn 10c$1.4M
Other assetsLn 15$129K
Total assetsLn 16$1.5M
LiabilitiesLn 26$3.8M
Net assetsLn 32−$2.2M
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 FY24End FY24
Cash and savingsLn 1–2$31K$10K
Land, buildings, equipmentLn 10c$1.5M$1.4M
Total assetsLn 16$1.7M$1.5M
LiabilitiesLn 26$3.8M$3.8M
Net assetsLn 32−$2.1M−$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$32K$32K
Legal feesLn 11b$25$25
Accounting feesLn 11c$10K$10K
Other fees for servicesLn 11g$71K$14K$57K
Advertising and promotionLn 12$916$916
Office expensesLn 13$16K$16K
Depreciation, depletion and amortizationLn 22$171K$171K
InsuranceLn 23$28K$28K
Other expenses (24a–d)Ln 24$122K$94K$28K
All other expensesLn 24e$22K$15K$7K
Total functional expensesLn 25$472K$322K$151K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $362K$472K−$110K−$2.2M 990 PDF
FY2023 $353K$474K−$121K−$2.1M 990 PDF
FY2022 $332K$453K−$121K−$2.0M 990 PDF
FY2021 $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 FY2024 990 (6 parts)
Part I · Summary $362,248 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $345,577$354,443
I-10 Investment incomePrior year $1,722$2,979
I-11 Other revenuePrior year $5,410$4,826
I-12 Total revenuePrior year $352,709$362,248
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $473,956$472,375
I-18 Total expensesPrior year $473,956$472,375
I-19 Revenue less expensesPrior year −$121,247−$110,127
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 $362,248 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $354,443$354,443
VIII-3 Investment incomeRelated to mission $2,979$2,979
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $4,826$4,826
VIII-12 Total revenueRelated to mission $357,422 · Excluded from tax $4,826$362,248
Part IX · Statement of functional expenses $472,375 across 10 lines filed
IX-11a Management feesManagement $31,581$31,581
IX-11b Legal feesManagement $25$25
IX-11c Accounting feesManagement $9,967$9,967
IX-11g Other fees for servicesPrograms $13,508 · Management $57,379$70,887
IX-12 Advertising and promotionManagement $916$916
IX-13 Office expensesManagement $15,636$15,636
IX-22 Depreciation, depletion and amortizationPrograms $170,944$170,944
IX-23 InsurancePrograms $28,247$28,247
IX-24 Other expenses (24a–d)Programs $94,401 · Management $27,731$122,132
IX-24e All other expensesPrograms $14,692 · Management $7,348$22,040
IX-25 Total functional expensesPrograms $321,792 · Management $150,583 · Fundraising $0$472,375
Part X · Balance sheet $1,521,718 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $30,789$9,677
X-4 Accounts receivableStart of year $1,273$795
X-9 Prepaid expenses and deferred chargesStart of year $2,726$2,171
X-10c Land, buildings and equipment, netStart of year $1,472,521$1,380,141
X-15 Other assetsStart of year $180,202$128,934
X-16 Total assetsStart of year $1,687,511$1,521,718
X-17 Accounts payable and accrued expensesStart of year $75,123$20,328
X-19 Deferred revenueStart of year $1,336$8
X-25 Other liabilitiesStart of year $15,911$14,787
X-26 Total liabilitiesStart of year $3,822,707$3,767,040
X-27 Net assets without donor restrictionsStart of year −$2,135,196−$2,245,322
X-32 Total net assets or fund balancesStart of year −$2,135,196−$2,245,322
X-33 Total liabilities and net assetsStart of year $1,687,511$1,521,718
Part XI · Reconciliation of net assets −$2,245,322 net assets at year end
XI-1 Total revenue$362,248
XI-2 Total expenses$472,375
XI-3 Revenue less expenses−$110,127
XI-4 Net assets at start of year−$2,135,196
XI-9 Other changes in net assets$1
XI-10 Net assets at end of year−$2,245,322

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

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