's' Elect Homes: FY2021 Nonprofit Profile & Form 990 (EIN 41-0854545)

Revenue by fiscal year
FY2020	$176K
FY2021	$61K
FY2022	$40K

Expenses by fiscal year
FY2020	$194K
FY2021	$61K
FY2022	$70K

Net assets by fiscal year
FY2020	$436K
FY2021	$450K
FY2022	$449K

Is it real?

No. The IRS revoked its tax exemption. Latest filing we have: FY2021. IRS ruling in Aug 1964.

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

Where the money goes

99 cents of each dollar spent went to programs.

99%

Program services 99% · $61K Management & general 1% · $716

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

Something off? Claim to add context

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation

Blair Mahan

Trustee

$0Pt VII · Sec A

Ryan O'Rourke

President

$0Pt VII · Sec A

David Orman

Trustee

$0Pt VII · Sec A

Don Smith

Chairman

$0Pt VII · Sec A

See 's' Elect Homes executive salaries →

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

's' Elect Homes is a membership association based in Duluth, MN.

Questions for 's' Elect Homes

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1 program · $61K · in their own filed words · FY2020

01

Provide elderly housing.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 41-0854545) · Dispute this line

$61Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$61K

Ln 12

Fees for servicesLn 2g$60K

Other incomeLn 4–11$319

Investment incomeLn 3$23

Money outPt IX

$61K

Ln 25

Programscol B$61K

Managementcol C$716

Owns and owesPt X

$450K

net assets · Ln 32

Cash and savingsLn 1–2$13K

Total assetsLn 16$550K

LiabilitiesLn 26$100K

PeoplePt VI, VII

4

listed · VII A

PaidVII A0

Voting boardVI 1a4

IndependentVI 1b4

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$60K

Investment incomeLn 3$23

Other incomeLn 4–11$319

Total revenueLn 12$61K

Assets in detailPt X, end of year

CashLn 1$13K

Cash and savings togetherLn 1–2$13K

Land, buildings, equipmentLn 10c$537K

Total assetsLn 16$550K

LiabilitiesLn 26$100K

Net assetsLn 32$450K

OperationsPt I, VI

EmployeesI 50

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$5K	$13K
Land, buildings, equipmentLn 10c	$562K	$537K
Total assetsLn 16	$567K	$550K
LiabilitiesLn 26	$131K	$100K
Net assetsLn 32	$436K	$450K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Legal feesLn 11b	$216		$216
Accounting feesLn 11c	$500		$500
InterestLn 20	$5K	$5K
Depreciation, depletion and amortizationLn 22	$25K	$25K
InsuranceLn 23	$19K	$19K
Other expenses (24a–d)Ln 24	$12K	$12K
Total functional expensesLn 25	$61K	$61K	$716	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2022 LatestFiled with the IRS Dec 6, 2022	$40K	$70K	−$30K	$449K	990 PDF
FY2021 ViewingFiled with the IRS Dec 1, 2021	$61K	$61K	−$848	$450K	990 PDF
FY2020Filed with the IRS May 12, 2021	$176K	$194K	−$19K	$436K	990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations

See the full FY2021 990

Part I · Summary $60,633 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenuePrior year $175,826$60,291

I-10 Investment incomePrior year $27$23

I-11 Other revenue$319

I-12 Total revenuePrior year $175,853$60,633

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $22,565$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $171,842$61,481

I-18 Total expensesPrior year $194,407$61,481

I-19 Revenue less expensesPrior year −$18,554−$848

Part VI · Governance 4 of 4 board members independent, 2 to look at

VI-1a Voting members of the governing body4

VI-1b Independent voting members4

VI-13 Written whistleblower 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

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $60,633 across 4 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $60,291$60,291

VIII-3 Investment incomeExcluded from tax $23$23

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $319$319

VIII-12 Total revenueRelated to mission $60,610 · Excluded from tax $23$60,633

Part IX · Statement of functional expenses $61,481 across 6 lines filed

IX-11b Legal feesManagement $216$216

IX-11c Accounting feesManagement $500$500

IX-20 InterestPrograms $5,421$5,421

IX-22 Depreciation, depletion and amortizationPrograms $24,812$24,812

IX-23 InsurancePrograms $18,639$18,639

IX-24 Other expenses (24a–d)Programs $11,893$11,893

IX-25 Total functional expensesPrograms $60,765 · Management $716 · Fundraising $0$61,481

Part X · Balance sheet $550,100 assets, 9 lines filed

X-1 Cash, non-interest-bearingStart of year $5,000$12,749

X-10c Land, buildings and equipment, netStart of year $562,163$537,351

X-16 Total assetsStart of year $567,163$550,100

X-17 Accounts payable and accrued expensesStart of year $28,691$32,600

X-23 Secured mortgages and notes payableStart of year $101,980$67,651

X-26 Total liabilitiesStart of year $130,671$100,251

X-27 Net assets without donor restrictionsStart of year $436,492$449,849

X-32 Total net assets or fund balancesStart of year $436,492$449,849

X-33 Total liabilities and net assetsStart of year $567,163$550,100

Part XI · Reconciliation of net assets $449,849 net assets at year end

XI-1 Total revenue$60,633

XI-2 Total expenses$61,481

XI-3 Revenue less expenses−$848

XI-4 Net assets at start of year$436,492

XI-8 Prior period adjustments$14,205

XI-10 Net assets at end of year$449,849

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

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's' Elect Homes FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for 's' Elect Homes

By the numbers

Filing history

Schedules filed Part IV

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