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Cedar Place INC FY2021 filing

Tax-deductible

Story City, IA501(c)(3)Human Services EIN 42-1164744Revenue $482K in FY2021

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.
88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · 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
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Plus $209K in investments, Pt X · Ln 11–13
Fine: 0.3 months of spending in cash, plus $209K in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.6M
79% of total assets
Worth a look: liabilities are 79% 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
$482K
-1% vs prior year
Spent
$475K
To programs
88%
Net assets
$424K
By yearFY2020–FY2024
Revenue
$482K
FY2021▼ -1%
Tap a bar for its year
Revenue by fiscal year
FY2020$488K
FY2021$482K
FY2022$451K
FY2023$504K
FY2024$521K
Expenses
$475K
FY2021▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$454K
FY2021$475K
FY2022$501K
FY2023$545K
FY2024$514K
Net assets
$424K
FY2021▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$418K
FY2021$424K
FY2022$374K
FY2023$333K
FY2024$341K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 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

88 cents of each dollar spent went to programs.

Program services 88% · $417K Management & general 12% · $58K

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

11 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.

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Provided by the organization

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1 program · $417K · in their own filed words · FY2021
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…

$417Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$482K
Ln 12
Gifts and grantsLn 1h$271K
Fees for servicesLn 2g$207K
Other incomeLn 4–11$3K
Money outPt IX
$475K
Ln 25
Programscol B$417K
Managementcol C$58K
Owns and owesPt X
$424K
net assets · Ln 32
Cash and savingsLn 1–2$13K
Total assetsLn 16$2.0M
LiabilitiesLn 26$1.6M
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$271K
Government grantsLn 1e$271K
Fees for servicesLn 2g$207K
Investment incomeLn 3$666
Other incomeLn 4–11$3K
Total revenueLn 12$482K
Assets in detailPt X, end of year
CashLn 1$13K
Cash and savings togetherLn 1–2$13K
InvestmentsLn 11–13$209K
Land, buildings, equipmentLn 10c$1.7M
Other assetsLn 15$55K
Total assetsLn 16$2.0M
LiabilitiesLn 26$1.6M
Net assetsLn 32$424K
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 FY21End FY21
Cash and savingsLn 1–2$5K$13K
InvestmentsLn 11–13$189K$209K
Land, buildings, equipmentLn 10c$1.8M$1.7M
Total assetsLn 16$2.1M$2.0M
LiabilitiesLn 26$1.6M$1.6M
Net assetsLn 32$418K$424K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$26K$26K
Accounting feesLn 11c$18K$18K
Advertising and promotionLn 12$587$587
Office expensesLn 13$13K$13K
OccupancyLn 16$223K$223K
Depreciation, depletion and amortizationLn 22$117K$117K
Other expenses (24a–d)Ln 24$77K$77K
Total functional expensesLn 25$475K$417K$58K$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 Viewing $482K$475K$7K$424K 990 PDF
FY2020 $488K$454K$34K$418K 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 FY2021 990 (6 parts)
Part I · Summary $481,630 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $270,279$270,848
I-9 Program service revenuePrior year $214,426$206,927
I-10 Investment incomePrior year $794$666
I-11 Other revenuePrior year $2,608$3,189
I-12 Total revenuePrior year $488,107$481,630
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 $453,937$474,909
I-18 Total expensesPrior year $453,937$474,909
I-19 Revenue less expensesPrior year $34,170$6,721
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 $481,630 across 6 lines filed
VIII-1e Government grants$270,848
VIII-1h Total contributions, gifts and grants$270,848
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $206,927$206,927
VIII-3 Investment incomeExcluded from tax $666$666
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $3,189$3,189
VIII-12 Total revenueRelated to mission $206,927 · Unrelated business $0 · Excluded from tax $3,855$481,630
Part IX · Statement of functional expenses $474,909 across 7 lines filed
IX-11a Management feesManagement $26,286$26,286
IX-11c Accounting feesManagement $18,075$18,075
IX-12 Advertising and promotionManagement $587$587
IX-13 Office expensesManagement $12,640$12,640
IX-16 OccupancyPrograms $222,767$222,767
IX-22 Depreciation, depletion and amortizationPrograms $117,362$117,362
IX-24 Other expenses (24a–d)Programs $77,192$77,192
IX-25 Total functional expensesPrograms $417,321 · Management $57,588 · Fundraising $0$474,909
Part X · Balance sheet $1,992,680 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $4,819$13,119
X-4 Accounts receivableStart of year $1,575$302
X-9 Prepaid expenses and deferred chargesStart of year $17,645$32,126
X-10c Land, buildings and equipment, netStart of year $1,778,023$1,677,845
X-13 Program-related investmentsStart of year $189,079$208,804
X-14 Intangible assetsStart of year $5,911$5,099
X-15 Other assetsStart of year $55,942$55,385
X-16 Total assetsStart of year $2,052,994$1,992,680
X-17 Accounts payable and accrued expensesStart of year $5,561$14,956
X-19 Deferred revenueStart of year $240$150
X-25 Other liabilitiesStart of year $1,629,500$1,553,160
X-26 Total liabilitiesStart of year $1,635,301$1,568,266
X-27 Net assets without donor restrictionsStart of year $417,693$424,414
X-32 Total net assets or fund balancesStart of year $417,693$424,414
X-33 Total liabilities and net assetsStart of year $2,052,994$1,992,680
Part XI · Reconciliation of net assets $424,414 net assets at year end
XI-1 Total revenue$481,630
XI-2 Total expenses$474,909
XI-3 Revenue less expenses$6,721
XI-4 Net assets at start of year$417,693
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$424,414

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

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