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Cardinal Homes INC

Tax-deductible

Fergus Falls, MN501(c)(3)HousingEIN 41-0986512

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Furnishing subsidized housing to low income, disabled, and elderly persons.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 6 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
3 of 4
filings with a surplus
Average surplus $49K a year · 8% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
14 mo
of spending, in cash
Looks good: 13.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.6M
73% of total assets
Worth a look: liabilities are 73% of assets; over 65%.
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
$679K
+7% vs prior year
Spent
$565K
To programs
100%
Net assets
$595K
By yearFY2022–FY2025
Revenue
$679K
FY2025▲ +7%
Revenue by fiscal year
FY2022$510K
FY2023$543K
FY2024$633K
FY2025$679K
Expenses
$565K
FY2025▲ +2%
Expenses by fiscal year
FY2022$531K
FY2023$515K
FY2024$556K
FY2025$565K
Net assets
$595K
FY2025▲ +24%
Net assets by fiscal year
FY2022$375K
FY2023$403K
FY2024$481K
FY2025$595K

From the FY2025 Form 990 (year ending September 2025) · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1973.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $565K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Kevin Brennan
Vice President
$0Pt VII · Sec A
Mark Bertram
Director
$0Pt VII · Sec A
Leon Keller
President
$0Pt VII · Sec A
Robert Perry
Secretary/Treasurer
$0Pt VII · Sec A
Todd Johnson
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Amy Kelly
Director
$0Pt VII · Sec A
See Cardinal Homes 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 15aYes

Programs and updates

Provides affordable housing for low-income, disabled, and elderly individuals.

Provided by the organization

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1 program service account for $565K of program spending, described in the organization's own filed words · FY2024.
01

Furnishing subsidized housing to low income, disabled, and elderly persons.

$565Kprogram expense

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By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$679K
Ln 12
Fees for servicesLn 2g$658K
Investment incomeLn 3$21K
Money outPt IX
$565K
Ln 25
Programscol B$565K
Owns and owesPt X
$595K
net assets · Ln 32
Cash and savingsLn 1–2$655K
Total assetsLn 16$2.2M
LiabilitiesLn 26$1.6M
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$658K
Investment incomeLn 3$21K
Total revenueLn 12$679K
Assets in detailPt X, end of year
CashLn 1$158K
SavingsLn 2$497K
Cash and savings togetherLn 1–2$655K
Land, buildings, equipmentLn 10c$1.5M
Total assetsLn 16$2.2M
LiabilitiesLn 26$1.6M
Net assetsLn 32$595K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderSeptember
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 FY25End FY25
Cash and savingsLn 1–2$543K$655K
Land, buildings, equipmentLn 10c$1.6M$1.5M
Total assetsLn 16$2.2M$2.2M
LiabilitiesLn 26$1.7M$1.6M
Net assetsLn 32$481K$595K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$51K$51K
Legal feesLn 11b$65$65
Accounting feesLn 11c$7K$7K
Advertising and promotionLn 12$4K$4K
Office expensesLn 13$9K$9K
OccupancyLn 16$3K$3K
InterestLn 20$1K$1K
Depreciation, depletion and amortizationLn 22$114K$114K
InsuranceLn 23$80K$80K
Other expenses (24a–d)Ln 24$295K$295K
Total functional expensesLn 25$565K$565K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $679K$565K$114K$595K 990 PDF
FY2024 $633K$556K$77K$481K 990 PDF
FY2023 $543K$515K$28K$403K 990 PDF
FY2022 $510K$531K−$22K$375K 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 FY2025 990 (4 parts)
Part VIII · Statement of revenue $679,195 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $658,197$658,197
VIII-3 Investment incomeExcluded from tax $20,998$20,998
VIII-12 Total revenueRelated to mission $658,197 · Unrelated business $0 · Excluded from tax $20,998$679,195
Part IX · Statement of functional expenses $564,776 across 10 lines filed
IX-11a Management feesPrograms $51,122$51,122
IX-11b Legal feesPrograms $65$65
IX-11c Accounting feesPrograms $7,250$7,250
IX-12 Advertising and promotionPrograms $4,083$4,083
IX-13 Office expensesPrograms $8,596$8,596
IX-16 OccupancyPrograms $3,398$3,398
IX-20 InterestPrograms $1,212$1,212
IX-22 Depreciation, depletion and amortizationPrograms $113,874$113,874
IX-23 InsurancePrograms $79,812$79,812
IX-24 Other expenses (24a–d)Programs $295,364$295,364
IX-25 Total functional expensesPrograms $564,776 · Management $0 · Fundraising $0$564,776
Part X · Balance sheet $2,185,930 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $139,067$158,143
X-2 Savings and temporary cash investmentsStart of year $403,694$497,268
X-4 Accounts receivableStart of year $2,883$11,749
X-9 Prepaid expenses and deferred chargesStart of year $49,622$33,078
X-10c Land, buildings and equipment, netStart of year $1,571,836$1,485,692
X-16 Total assetsStart of year $2,167,102$2,185,930
X-17 Accounts payable and accrued expensesStart of year $65,160$45,721
X-19 Deferred revenueStart of year $1,156$1,877
X-25 Other liabilitiesStart of year $15,325$16,788
X-26 Total liabilitiesStart of year $1,686,370$1,590,779
X-27 Net assets without donor restrictionsStart of year $480,470$594,966
X-28 Net assets with donor restrictionsStart of year $262$185
X-32 Total net assets or fund balancesStart of year $480,732$595,151
X-33 Total liabilities and net assetsStart of year $2,167,102$2,185,930
Part XI · Reconciliation of net assets $595,151 net assets at year end
XI-1 Total revenue$679,195
XI-2 Total expenses$564,776
XI-3 Revenue less expenses$114,419
XI-4 Net assets at start of year$480,732
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$595,151

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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