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Jacobs Place Apartments

Tax-deductible

Des Moines, IA501(c)(3)Housing EIN 42-1186191Revenue $794K in FY2024Latest return filed Nov 10, 2025

On file with the IRS2930 Bell Ave, 50321-1421 · Des Moines, IATax-exempt since Jun 1983Publicly supported — 509(a)(2)

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Jacobs Place Apartments is an iowa not-for-profit corporation that was organized to construct, own and operate an 82 unit apartment community known as Jacobs Place located in des moines, iowa. The community was originally financed with a loan insured by the department of housing and urban development under section 202 of the national housing act, as amended. In october 2006, the corporation refinanced its original hud insured mortgage with a new hud insured mortgage under section 223(f) of the national housing act, as amended.

501(c)(3) charity; gifts are tax-deductible.
78¢ 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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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
5 of 5
filings with a surplus
Average surplus $61K a year · 8% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Plus $475K in investments, Pt X · Ln 11–13
Fine: 0.5 months of spending in cash, plus $475K in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.8M
74% of total assets
Worth a look: liabilities are 74% of assets; over 65%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$794K
+5% vs prior year
Spent
$771K
To programs
78%
Net assets
$610K
By yearFY2020–FY2024
Revenue
$794K
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$697K
FY2021$733K
FY2022$732K
FY2023$756K
FY2024$794K
Expenses
$771K
FY2024▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2020$630K
FY2021$634K
FY2022$681K
FY2023$690K
FY2024$771K
Net assets
$610K
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$373K
FY2021$471K
FY2022$522K
FY2023$587K
FY2024$610K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1983.

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

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $602K Management & general 22% · $169K

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
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Duane Sand
Director
$0Pt VII · Sec A
Jim Ryan
Director
$0Pt VII · Sec A
See Jacobs Place Apartments 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 residents in an 82-unit apartment community.

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1 program · $602K · in their own filed words · FY2024
01

Jacobs place apartments is an iowa not-for-profit corporation that was organized to construct, own and operate an 82 unit apartment community known as jacobs place located in des moines, iowa.

$602Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$794K
Ln 12
Gifts and grantsLn 1h$388K
Fees for servicesLn 2g$384K
Other incomeLn 4–11$11K
Money outPt IX
$771K
Ln 25
Programscol B$602K
Managementcol C$169K
Owns and owesPt X
$610K
net assets · Ln 32
Cash and savingsLn 1–2$29K
Total assetsLn 16$2.4M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$388K
Government grantsLn 1e$388K
Fees for servicesLn 2g$384K
Investment incomeLn 3$11K
Other incomeLn 4–11$11K
Total revenueLn 12$794K
Assets in detailPt X, end of year
CashLn 1$29K
Cash and savings togetherLn 1–2$29K
InvestmentsLn 11–13$475K
Land, buildings, equipmentLn 10c$1.7M
Other assetsLn 15$77K
Total assetsLn 16$2.4M
LiabilitiesLn 26$1.8M
Net assetsLn 32$610K
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 FY24End FY24
Cash and savingsLn 1–2$3K$29K
InvestmentsLn 11–13$415K$475K
Land, buildings, equipmentLn 10c$1.9M$1.7M
Total assetsLn 16$2.4M$2.4M
LiabilitiesLn 26$1.8M$1.8M
Net assetsLn 32$587K$610K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$65K$65K
Accounting feesLn 11c$18K$18K
Advertising and promotionLn 12$782$782
Office expensesLn 13$19K$19K
OccupancyLn 16$440K$440K
Depreciation, depletion and amortizationLn 22$122K$122K
Other expenses (24a–d)Ln 24$106K$40K$66K
Total functional expensesLn 25$771K$602K$169K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Nov 10, 2025 $794K$771K$23K$610K 990 PDF
FY2023Filed with the IRS Nov 15, 2024 $756K$690K$66K$587K 990 PDF
FY2022Filed with the IRS Nov 13, 2023 $732K$681K$50K$522K 990 PDF
FY2021Filed with the IRS Nov 10, 2022 $733K$634K$99K$471K 990 PDF
FY2020Filed with the IRS Nov 8, 2021 $697K$630K$67K$373K 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 $794,140 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $380,041$388,395
I-9 Program service revenuePrior year $364,169$383,775
I-10 Investment incomePrior year $238$10,730
I-11 Other revenuePrior year $11,287$11,240
I-12 Total revenuePrior year $755,735$794,140
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 $690,022$771,046
I-18 Total expensesPrior year $690,022$771,046
I-19 Revenue less expensesPrior year $65,713$23,094
Part VI · Governance 10 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $794,140 across 6 lines filed
VIII-1e Government grants$388,395
VIII-1h Total contributions, gifts and grants$388,395
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $383,775$383,775
VIII-3 Investment incomeExcluded from tax $10,730$10,730
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $11,240$11,240
VIII-12 Total revenueRelated to mission $383,775 · Unrelated business $0 · Excluded from tax $21,970$794,140
Part IX · Statement of functional expenses $771,046 across 7 lines filed
IX-11a Management feesManagement $65,024$65,024
IX-11c Accounting feesManagement $18,237$18,237
IX-12 Advertising and promotionManagement $782$782
IX-13 Office expensesManagement $19,424$19,424
IX-16 OccupancyPrograms $440,006$440,006
IX-22 Depreciation, depletion and amortizationPrograms $121,620$121,620
IX-24 Other expenses (24a–d)Programs $40,390 · Management $65,563$105,953
IX-25 Total functional expensesPrograms $602,016 · Management $169,030 · Fundraising $0$771,046
Part X · Balance sheet $2,391,948 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $2,584$29,051
X-4 Accounts receivableStart of year $2,268$1,621
X-9 Prepaid expenses and deferred chargesStart of year $17,918$17,918
X-10c Land, buildings and equipment, netStart of year $1,861,454$1,742,739
X-13 Program-related investmentsStart of year $414,575$474,515
X-14 Intangible assetsStart of year $51,515$48,613
X-15 Other assetsStart of year $81,641$77,491
X-16 Total assetsStart of year $2,431,955$2,391,948
X-17 Accounts payable and accrued expensesStart of year $48,485$54,591
X-19 Deferred revenueStart of year $992$3,014
X-25 Other liabilitiesStart of year $39,622$29,315
X-26 Total liabilitiesStart of year $1,844,638$1,781,537
X-27 Net assets without donor restrictionsStart of year $587,317$610,411
X-32 Total net assets or fund balancesStart of year $587,317$610,411
X-33 Total liabilities and net assetsStart of year $2,431,955$2,391,948
Part XI · Reconciliation of net assets $610,411 net assets at year end
XI-1 Total revenue$794,140
XI-2 Total expenses$771,046
XI-3 Revenue less expenses$23,094
XI-4 Net assets at start of year$587,317
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$610,411

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

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