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Adel Manor INC

Adel, IAUnknown exempt organization EIN 42-0952944Revenue $286K in FY2023Latest return filed Nov 11, 2024

On file with the IRSAdel, IA

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Provide affordable housing to low-income, elderly or handicapped individuals in Adel, iowa.

Form 990 Part I, line 1, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 42-0952944) · Dispute this line
69¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
The latest return is for FY2023, 3 tax years back.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $72K a year · 16% of revenue · last 4 filings
A surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
69%
of spending
69% of spending went to programs.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
8
of 8 voting members
8 of 8 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$286K
-36% vs prior year
Spent
$219K
To programs
69%
Net assets
$0
By yearFY2020–FY2023
Revenue
$286K
FY2023▼ -36%
Tap a bar for its year
Revenue by fiscal year
FY2020$420K
FY2021$666K
FY2022$447K
FY2023$286K
Expenses
$219K
FY2023▼ -48%
Tap a bar for its year
Expenses by fiscal year
FY2020$420K
FY2021$473K
FY2022$418K
FY2023$219K
Net assets
$0
FY2023▼ -100%
Tap a bar for its year
Net assets by fiscal year
FY2020$28K
FY2021$221K
FY2022$250K
FY2023$0

From the FY2023 Form 990 · see the original

990 PDF Support Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

69 cents of each dollar spent went to programs.

Program services 69% · $151K Management & general 31% · $68K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
Dan Hawkins
President
$0Pt VII · Sec A
Jim Peters
Vice President
$0Pt VII · Sec A
Linda Fuller
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mary Hughes
Director
$0Pt VII · Sec A
See Adel Manor INC 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

Offers affordable housing to low-income, elderly, or handicapped individuals in Adel, Iowa.

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1 program · $151K · in their own filed words · FY2023
01

Adel manor, inc. Provides affordable housing to low-income, elderly and handicapped individuals through operation of 26-UNIT and 42-UNIT multifamily communities located in adel, iowa.

Form 990 Part III, line 4, FY2023. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 42-0952944) · Dispute this line
$151Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Dec 2022 · $1.2M federal money spent
Rural Rental Housing LoansDepartment of Agriculture · ALN 10.415 · Direct$1.1M
Rural Rental Assistance PaymentsDepartment of Agriculture · ALN 10.427 · Direct$138K

The auditor reported no findings.

Year ending Dec 2021 · $1.2M federal money spent
Rural Rental Housing LoansDepartment of Agriculture · ALN 10.415 · Direct$1.1M
Rural Rental Assistance PaymentsDepartment of Agriculture · ALN 10.427 · Direct$130K

The auditor reported no findings.

Year ending Dec 2020 · $1.3M federal money spent
Rural Rental Housing LoansDepartment of Agriculture · ALN 10.415 · Direct$1.2M
Rural Rental Assistance PaymentsDepartment of Agriculture · ALN 10.427 · Direct$115K

The auditor reported no findings.

Year ending Dec 2019 · $1.3M federal money spent
Rural Rental Housing LoansDepartment of Agriculture · ALN 10.415 · Direct$1.2M
Rural Rental Assistance PaymentsDepartment of Agriculture · ALN 10.427 · Direct$92K

The auditor reported no findings.

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$286K
Ln 12
Fees for servicesLn 2g$284K
Investment incomeLn 3$2K
Other incomeLn 4–11$2
Money outPt IX
$219K
Ln 25
Programscol B$151K
Managementcol C$68K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$284K
Investment incomeLn 3$2K
Other incomeLn 4–11$2
Total revenueLn 12$286K
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY23End FY23
Cash and savingsLn 1–2$299K$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$874K$0
Total assetsLn 16$1.2M$0
LiabilitiesLn 26$947K$0
Net assetsLn 32$250K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$52K$52K
Accounting feesLn 11c$10K$10K
Office expensesLn 13$1K$1K
Information technologyLn 14$4K$4K
InterestLn 20$5K$5K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$134K$134K$156
Total functional expensesLn 25$219K$151K$68K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest ViewingFiled with the IRS Nov 11, 2024 $286K$219K$67K$0 990 PDF
FY2022Filed with the IRS Aug 3, 2023 $447K$418K$29K$250K 990 PDF
FY2021Filed with the IRS Nov 14, 2022 $666K$473K$193K$221K 990 PDF
FY2020Filed with the IRS Jul 27, 2021 $420K$420K$293$28K 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2023 990
Part I · Summary $285,825 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $361,876$283,653
I-10 Investment incomePrior year $343$2,170
I-11 Other revenuePrior year $85,013$2
I-12 Total revenuePrior year $447,232$285,825
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $66,480$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $351,746$219,167
I-18 Total expensesPrior year $418,226$219,167
I-19 Revenue less expensesPrior year $29,006$66,658
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $285,825 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $283,653$283,653
VIII-3 Investment incomeExcluded from tax $2,170$2,170
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2$2
VIII-12 Total revenueRelated to mission $283,655 · Unrelated business $0 · Excluded from tax $2,170$285,825
Part IX · Statement of functional expenses $219,167 across 7 lines filed
IX-11a Management feesManagement $52,457$52,457
IX-11c Accounting feesManagement $9,500$9,500
IX-13 Office expensesManagement $1,259$1,259
IX-14 Information technologyManagement $4,488$4,488
IX-20 InterestPrograms $4,791$4,791
IX-23 InsurancePrograms $12,341$12,341
IX-24 Other expenses (24a–d)Programs $134,175 · Management $156$134,331
IX-25 Total functional expensesPrograms $151,307 · Management $67,860 · Fundraising $0$219,167
Part X · Balance sheet $0 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $240,171$0
X-2 Savings and temporary cash investmentsStart of year $58,593$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-5 Loans to officers and key people$0
X-6 Loans to other insiders$0
X-7 Notes and loans receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $4,618$0
X-10c Land, buildings and equipment, netStart of year $873,648$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $19,551$0
X-16 Total assetsStart of year $1,196,581$0
X-25 Other liabilitiesStart of year $21,852$0
X-26 Total liabilitiesStart of year $946,700$0
X-27 Net assets without donor restrictionsStart of year $249,881$0
X-32 Total net assets or fund balancesStart of year $249,881$0
X-33 Total liabilities and net assetsStart of year $1,196,581$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$285,825
XI-2 Total expenses$219,167
XI-3 Revenue less expenses$66,658
XI-4 Net assets at start of year$249,881
XI-9 Other changes in net assets−$316,539
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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