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Myrtle Davis Senior Complex Corporation

Tax-deductible

Milwaukee, WI501(c)(3)HousingEIN 39-2026028

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To provide safe and affordable housing for elderly individuals.

501(c)(3) charity; gifts are tax-deductible.
78¢ 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 5
filings with a surplus
Average deficit $28K a year · 46% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$787K
214% of total assets
Concern: liabilities are 214% 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
$63K
+9% vs prior year
Spent
$92K
To programs
78%
Net assets
−$419K
By yearFY2020–FY2024
Revenue
$63K
FY2024▲ +9%
Revenue by fiscal year
FY2020$56K
FY2021$54K
FY2022$65K
FY2023$58K
FY2024$63K
Expenses
$92K
FY2024▼ -1%
Expenses by fiscal year
FY2020$86K
FY2021$84K
FY2022$79K
FY2023$93K
FY2024$92K
Net assets
−$419K
FY2024▼ -7%
Net assets by fiscal year
FY2020−$312K
FY2021−$342K
FY2022−$356K
FY2023−$391K
FY2024−$419K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2001.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $72K Management & general 22% · $20K

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
$0Pt VII · Sec A
$0Pt VII · Sec A
Rugenia Davis
President
$0Pt VII · Sec A
Mary Ann Hall
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Myrtle Davis Senior Complex 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

Provides safe, affordable housing for elderly individuals.

Provided by the organization

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1 program service account for $72K of program spending, described in the organization's own filed words · FY2024.
01

Myrtle davis senior complex corporation constructed and operates an 8 unit rental housing project for elderly tenants.

$72Kprogram expense

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$63K
Ln 12
Fees for servicesLn 2g$62K
Other incomeLn 4–11$920
Investment incomeLn 3$4
Money outPt IX
$92K
Ln 25
Programscol B$72K
Managementcol C$20K
Owns and owesPt X
−$419K
net assets · Ln 32
Cash and savingsLn 1–2$579
Total assetsLn 16$368K
LiabilitiesLn 26$787K
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$62K
Investment incomeLn 3$4
Other incomeLn 4–11$920
Total revenueLn 12$63K
Assets in detailPt X, end of year
CashLn 1$579
Cash and savings togetherLn 1–2$579
Land, buildings, equipmentLn 10c$339K
Other assetsLn 15$23K
Total assetsLn 16$368K
LiabilitiesLn 26$787K
Net assetsLn 32−$419K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
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$716$579
Land, buildings, equipmentLn 10c$349K$339K
Total assetsLn 16$390K$368K
LiabilitiesLn 26$780K$787K
Net assetsLn 32−$391K−$419K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$5K$5K
Accounting feesLn 11c$7K$7K
Other fees for servicesLn 11g$2K$225$2K
Office expensesLn 13$3K$3K
Depreciation, depletion and amortizationLn 22$23K$23K
InsuranceLn 23$9K$9K
Other expenses (24a–d)Ln 24$37K$36K$2K
All other expensesLn 24e$5K$4K$1K
Total functional expensesLn 25$92K$72K$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $63K$92K−$28K−$419K 990 PDF
FY2023 $58K$93K−$35K−$391K 990 PDF
FY2022 $65K$79K−$14K−$356K 990 PDF
FY2021 $54K$84K−$30K−$342K 990 PDF
FY2020 $56K$86K−$30K−$312K 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 (4 parts)
Part VIII · Statement of revenue $63,376 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $62,452$62,452
VIII-3 Investment incomeExcluded from tax $4$4
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $920$920
VIII-12 Total revenueRelated to mission $62,452 · Excluded from tax $924$63,376
Part IX · Statement of functional expenses $91,800 across 8 lines filed
IX-11a Management feesManagement $4,704$4,704
IX-11c Accounting feesManagement $6,675$6,675
IX-11g Other fees for servicesPrograms $225 · Management $2,215$2,440
IX-13 Office expensesManagement $3,018$3,018
IX-22 Depreciation, depletion and amortizationPrograms $23,282$23,282
IX-23 InsurancePrograms $9,017$9,017
IX-24 Other expenses (24a–d)Programs $35,646 · Management $1,852$37,498
IX-24e All other expensesPrograms $3,775 · Management $1,391$5,166
IX-25 Total functional expensesPrograms $71,945 · Management $19,855 · Fundraising $0$91,800
Part X · Balance sheet $368,109 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $716$579
X-4 Accounts receivableStart of year $1,678$1,145
X-9 Prepaid expenses and deferred chargesStart of year $2,993$747
X-10c Land, buildings and equipment, netStart of year $349,106$339,317
X-14 Intangible assetsStart of year $4,194$3,701
X-15 Other assetsStart of year $30,845$22,620
X-16 Total assetsStart of year $389,532$368,109
X-17 Accounts payable and accrued expensesStart of year $23,232$28,597
X-19 Deferred revenueStart of year $184$1,080
X-25 Other liabilitiesStart of year $1,837$2,576
X-26 Total liabilitiesStart of year $780,153$787,153
X-27 Net assets without donor restrictionsStart of year −$390,621−$419,044
X-32 Total net assets or fund balancesStart of year −$390,621−$419,044
X-33 Total liabilities and net assetsStart of year $389,532$368,109
Part XI · Reconciliation of net assets −$419,044 net assets at year end
XI-1 Total revenue$63,376
XI-2 Total expenses$91,800
XI-3 Revenue less expenses−$28,424
XI-4 Net assets at start of year−$390,621
XI-9 Other changes in net assets$1
XI-10 Net assets at end of year−$419,044

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

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