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Cedar Place INC FY2020 filing

Tax-deductible

Story City, IA501(c)(3)Human ServicesEIN 42-1164744Revenue $488K in FY2020

On file with the IRSbethanylife.org212 Lafayette Ave, 50248-1454 · Story City, IATax-exempt since Dec 1981Publicly supported — 509(a)(2)

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To provide affordable housing to the elderly and disabled persons.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
3 of 5
filings with a surplus
Average deficit $9K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
90%
of spending
Looks good: 90% 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
$1.6M
80% of total assets
Worth a look: liabilities are 80% of assets; over 65%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$488K
Spent
$454K
To programs
90%
Net assets
$418K
By yearFY2020–FY2024
Revenue
$488K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$488K
FY2021$482K
FY2022$451K
FY2023$504K
FY2024$521K
Expenses
$454K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$454K
FY2021$475K
FY2022$501K
FY2023$545K
FY2024$514K
Net assets
$418K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$418K
FY2021$424K
FY2022$374K
FY2023$333K
FY2024$341K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1981.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $410K Management & general 10% · $44K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
James Chevalier
Vice Chair
$0Pt VII · Sec A
Beth Frandsen
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Dan Lundy
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Cedar Place 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

Offers affordable housing for elderly and disabled individuals.

Provided by the organization

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1 program · $410K · in their own filed words · FY2020
01

Cedar place, inc. Is an iowa not-for-profit corporation that was organized to construct, own and operate a 50 unit apartment community known as cedar place located in story city, iowa. The community was originally financed with a direct loan provided by the department of housing and urban development under section 202 of the national…

$410Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$488K
Ln 12
Gifts and grantsLn 1h$270K
Fees for servicesLn 2g$214K
Other incomeLn 4–11$3K
Money outPt IX
$454K
Ln 25
Programscol B$410K
Managementcol C$44K
Owns and owesPt X
$418K
net assets · Ln 32
Cash and savingsLn 1–2$5K
Total assetsLn 16$2.1M
LiabilitiesLn 26$1.6M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$270K
Government grantsLn 1e$270K
Fees for servicesLn 2g$214K
Investment incomeLn 3$794
Other incomeLn 4–11$3K
Total revenueLn 12$488K
Assets in detailPt X, end of year
CashLn 1$5K
Cash and savings togetherLn 1–2$5K
InvestmentsLn 11–13$189K
Land, buildings, equipmentLn 10c$1.8M
Other assetsLn 15$56K
Total assetsLn 16$2.1M
LiabilitiesLn 26$1.6M
Net assetsLn 32$418K
OperationsPt I, VI
EmployeesI 50
VolunteersI 670
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 FY20End FY20
Cash and savingsLn 1–2$7K$5K
InvestmentsLn 11–13$159K$189K
Land, buildings, equipmentLn 10c$1.7M$1.8M
Total assetsLn 16$2.2M$2.1M
LiabilitiesLn 26$1.8M$1.6M
Net assetsLn 32$384K$418K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$25K$25K
Accounting feesLn 11c$10K$10K
Advertising and promotionLn 12$8$8
Office expensesLn 13$8K$8K
OccupancyLn 16$212K$212K
Depreciation, depletion and amortizationLn 22$116K$116K
Other expenses (24a–d)Ln 24$82K$82K
Total functional expensesLn 25$454K$410K$44K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $521K$514K$8K$341K 990 PDF
FY2023 $504K$545K−$41K$333K 990 PDF
FY2022 $451K$501K−$51K$374K 990 PDF
FY2021 $482K$475K$7K$424K 990 PDF
FY2020 Viewing $488K$454K$34K$418K 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 FY2020 990 (6 parts)
Part I · Summary $488,107 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $267,806$270,279
I-9 Program service revenuePrior year $203,352$214,426
I-10 Investment incomePrior year $1,210$794
I-11 Other revenuePrior year $16,494$2,608
I-12 Total revenuePrior year $488,862$488,107
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $463,088$453,937
I-18 Total expensesPrior year $463,088$453,937
I-19 Revenue less expensesPrior year $25,774$34,170
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $488,107 across 6 lines filed
VIII-1e Government grants$270,279
VIII-1h Total contributions, gifts and grants$270,279
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $214,426$214,426
VIII-3 Investment incomeExcluded from tax $794$794
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $2,608$2,608
VIII-12 Total revenueRelated to mission $214,426 · Unrelated business $0 · Excluded from tax $3,402$488,107
Part IX · Statement of functional expenses $453,937 across 7 lines filed
IX-11a Management feesManagement $25,257$25,257
IX-11c Accounting feesManagement $10,290$10,290
IX-12 Advertising and promotionManagement $8$8
IX-13 Office expensesManagement $8,137$8,137
IX-16 OccupancyPrograms $212,285$212,285
IX-22 Depreciation, depletion and amortizationPrograms $115,716$115,716
IX-24 Other expenses (24a–d)Programs $82,244$82,244
IX-25 Total functional expensesPrograms $410,245 · Management $43,692 · Fundraising $0$453,937
Part X · Balance sheet $2,052,994 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $6,563$4,819
X-4 Accounts receivableStart of year $2,415$1,575
X-9 Prepaid expenses and deferred chargesStart of year $2,150$17,645
X-10c Land, buildings and equipment, netStart of year $1,743,419$1,778,023
X-13 Program-related investmentsStart of year $159,349$189,079
X-14 Intangible assetsStart of year $6,721$5,911
X-15 Other assetsStart of year $234,974$55,942
X-16 Total assetsStart of year $2,155,591$2,052,994
X-17 Accounts payable and accrued expensesStart of year $24,836$5,561
X-19 Deferred revenueStart of year $2$240
X-25 Other liabilitiesStart of year $1,747,230$1,629,500
X-26 Total liabilitiesStart of year $1,772,068$1,635,301
X-27 Net assets without donor restrictionsStart of year $383,523$417,693
X-32 Total net assets or fund balancesStart of year $383,523$417,693
X-33 Total liabilities and net assetsStart of year $2,155,591$2,052,994
Part XI · Reconciliation of net assets $417,693 net assets at year end
XI-1 Total revenue$488,107
XI-2 Total expenses$453,937
XI-3 Revenue less expenses$34,170
XI-4 Net assets at start of year$383,523
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$417,693

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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