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Seabury

Tax-deductible

St Paul, MN501(c)(3)Housing EIN 41-1997880Revenue $535K in FY2024

On file with the IRSehomesmn.org1830 University Avenue West, 55104-3578 · St Paul, MNTax-exempt since Jun 2001Publicly supported charity — 170(b)(1)(A)(vi)

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Provide low-income housing for seniors aged 62 and older.

501(c)(3) charity; gifts are tax-deductible.
79¢ of each $1 spent went to programs.
Run by 35 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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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 $241K a year · 49% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
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
$145K
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$535K
+6% vs prior year
Spent
$743K
To programs
79%
Net assets
$1.5M
By yearFY2020–FY2024
Revenue
$535K
FY2024▲ +6%
Tap a bar for its year
Revenue by fiscal year
FY2020$465K
FY2021$471K
FY2022$470K
FY2023$505K
FY2024$535K
Expenses
$743K
FY2024>-0.01%
Tap a bar for its year
Expenses by fiscal year
FY2020$693K
FY2021$729K
FY2022$745K
FY2023$743K
FY2024$743K
Net assets
$1.5M
FY2024▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.5M
FY2021$2.2M
FY2022$1.9M
FY2023$1.7M
FY2024$1.5M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

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

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

Where the money goes

79 cents of each dollar spent went to programs.

Program services 79% · $584K Management & general 21% · $159K

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

26 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Peter Gove
Chair (thru Nov)/Director
$0Pt VII · Sec A
Mary Lilja
Vice-Chair
$0Pt VII · Sec A
David Carlsen
Treasurer
$0Pt VII · Sec A
Brian Ostenso
Treasurer (thru Nov)
$0Pt VII · Sec A
Carol Forbes
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Seabury 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

Offers affordable homes for seniors aged 62 and older.

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Provided by the organization

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1 program · $584K · in their own filed words · FY2024
01

Seabury operates a 49-UNIT hud section 202 housing project for rental to low-income individuals age 62 or older.

$584Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$535K
Ln 12
Fees for servicesLn 2g$523K
Other incomeLn 4–11$12K
Gifts and grantsLn 1h$300
Money outPt IX
$743K
Ln 25
Programscol B$584K
Managementcol C$159K
Owns and owesPt X
$1.5M
net assets · Ln 32
Cash and savingsLn 1–2$121K
Total assetsLn 16$1.6M
LiabilitiesLn 26$145K
PeoplePt VI, VII
26
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$300
Fees for servicesLn 2g$523K
Investment incomeLn 3$175
Other incomeLn 4–11$12K
Total revenueLn 12$535K
Assets in detailPt X, end of year
CashLn 1$8K
SavingsLn 2$113K
Cash and savings togetherLn 1–2$121K
Land, buildings, equipmentLn 10c$1.5M
Total assetsLn 16$1.6M
LiabilitiesLn 26$145K
Net assetsLn 32$1.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 635
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$106K$121K
Land, buildings, equipmentLn 10c$1.7M$1.5M
Total assetsLn 16$1.8M$1.6M
LiabilitiesLn 26$131K$145K
Net assetsLn 32$1.7M$1.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$300$300
Other salaries and wagesLn 7$150K$91K$59K
Pension plan contributionsLn 8$4K$2K$1K
Other employee benefitsLn 9$19K$11K$8K
Payroll taxesLn 10$13K$8K$5K
Management feesLn 11a$41K$41K
Accounting feesLn 11c$15K$15K
Other fees for servicesLn 11g$30K$28K$2K
Office expensesLn 13$17K$2K$15K
Information technologyLn 14$9K$2K$8K
OccupancyLn 16$159K$159K
Conferences, conventions and meetingsLn 19$194$153$41
InterestLn 20$35$35
Depreciation, depletion and amortizationLn 22$231K$231K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$52K$49K$2K
All other expensesLn 24e$75$75
Total functional expensesLn 25$743K$584K$159K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $535K$743K−$208K$1.5M 990 PDF
FY2023 $505K$743K−$238K$1.7M 990 PDF
FY2022 $470K$745K−$274K$1.9M 990 PDF
FY2021 $471K$729K−$257K$2.2M 990 PDF
FY2020 $465K$693K−$228K$2.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $535,021 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$300
I-9 Program service revenuePrior year $495,066$522,990
I-10 Investment incomePrior year $206$175
I-11 Other revenuePrior year $9,584$11,556
I-12 Total revenuePrior year $504,856$535,021
I-13 Grants and similar amounts paidPrior year $0$300
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $174,051$186,500
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $568,659$555,873
I-18 Total expensesPrior year $742,710$742,673
I-19 Revenue less expensesPrior year −$237,854−$207,652
Part VI · Governance 16 of 16 board members independent, no flags
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $535,021 across 5 lines filed
Lines not itemized here account for $11,556 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$300
VIII-1h Total contributions, gifts and grants$300
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $522,990$522,990
VIII-3 Investment incomeExcluded from tax $175$175
VIII-12 Total revenueRelated to mission $522,990 · Unrelated business $0 · Excluded from tax $11,731$535,021
Part IX · Statement of functional expenses $742,673 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $300$300
IX-7 Other salaries and wagesPrograms $90,881 · Management $59,377$150,258
IX-8 Pension plan contributionsPrograms $2,152 · Management $1,491$3,643
IX-9 Other employee benefitsPrograms $11,445 · Management $7,933$19,378
IX-10 Payroll taxesPrograms $7,809 · Management $5,412$13,221
IX-11a Management feesManagement $41,327$41,327
IX-11c Accounting feesManagement $14,905$14,905
IX-11g Other fees for servicesPrograms $27,858 · Management $2,118$29,976
IX-13 Office expensesPrograms $2,182 · Management $14,737$16,919
IX-14 Information technologyPrograms $1,566 · Management $7,611$9,177
IX-16 OccupancyPrograms $158,858$158,858
IX-19 Conferences, conventions and meetingsPrograms $153 · Management $41$194
IX-20 InterestPrograms $35$35
IX-22 Depreciation, depletion and amortizationPrograms $231,360$231,360
IX-23 InsuranceManagement $1,324$1,324
IX-24 Other expenses (24a–d)Programs $49,466 · Management $2,257$51,723
IX-24e All other expensesManagement $75$75
IX-25 Total functional expensesPrograms $584,065 · Management $158,608 · Fundraising $0$742,673
Part X · Balance sheet $1,637,679 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $7,604$7,785
X-2 Savings and temporary cash investmentsStart of year $98,111$113,307
X-4 Accounts receivableStart of year $1,728$3,922
X-9 Prepaid expenses and deferred chargesStart of year $2,211$1,112
X-10c Land, buildings and equipment, netStart of year $1,721,640$1,511,553
X-16 Total assetsStart of year $1,831,294$1,637,679
X-17 Accounts payable and accrued expensesStart of year $54,109$49,474
X-19 Deferred revenueStart of year $500$0
X-25 Other liabilitiesStart of year $54,579$73,811
X-26 Total liabilitiesStart of year $131,027$145,064
X-27 Net assets without donor restrictionsStart of year −$3,725,853−$3,933,505
X-28 Net assets with donor restrictionsStart of year $5,426,120$5,426,120
X-32 Total net assets or fund balancesStart of year $1,700,267$1,492,615
X-33 Total liabilities and net assetsStart of year $1,831,294$1,637,679
Part XI · Reconciliation of net assets $1,492,615 net assets at year end
XI-1 Total revenue$535,021
XI-2 Total expenses$742,673
XI-3 Revenue less expenses−$207,652
XI-4 Net assets at start of year$1,700,267
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,492,615

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

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