Chestnut Resolutions INC Nfp

Tax-deductible

Bloomington, IL501(c)(3)Since 2006Crime & LegalEIN 42-1692441

To provide seven low-income housing units for persons with disabilities and their families

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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 4
filings with a surplus
Average deficit $33K a year · 35% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $9K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
223% of total assets
Concern: liabilities are 223% of assets; over 80%.
Pt X · Ln 26
Independent board members
2
of 4 voting members
Fine: 2 of 4 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$94K
+25% vs prior year
Spent
$129K
To programs
81%
Net assets
−$734K
By yearFY2021–FY2024
Revenue
$94K
FY2024▲ +25%
Revenue by fiscal year
FY2021$98K
FY2022$101K
FY2023$96K
FY2024$75K
FY2024$94K
Expenses
$129K
FY2024▲ +22%
Expenses by fiscal year
FY2021$131K
FY2022$135K
FY2023$129K
FY2024$106K
FY2024$129K
Net assets
−$734K
FY2024▼ -5%
Net assets by fiscal year
FY2021−$599K
FY2022−$633K
FY2023−$666K
FY2024−$698K
FY2024−$734K

From the FY2024 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2006.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $105K Management & general 19% · $24K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Board Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Chestnut Resolutions INC Nfp 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 15aNo

Programs and updates

Offers seven affordable housing units for people with disabilities and their families.

Provided by the organization

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1 program service account for $105K of program spending, described in the organization's own filed words · FY2024.
01

To provide low-income housing units for persons with disabilities and their families

$105Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$9K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$94K
Ln 12
Gifts and grantsLn 1h$61K
Fees for servicesLn 2g$32K
Investment incomeLn 3$458
Money outPt IX
$129K
Ln 25
Programscol B$105K
Managementcol C$24K
Owns and owesPt X
−$734K
net assets · Ln 32
Cash and savingsLn 1–2$74K
Total assetsLn 16$595K
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$61K
Government grantsLn 1e$61K
Fees for servicesLn 2g$32K
Investment incomeLn 3$458
Total revenueLn 12$94K
Assets in detailPt X, end of year
CashLn 1$74K
Cash and savings togetherLn 1–2$74K
Land, buildings, equipmentLn 10c$398K
Other assetsLn 15$122K
Total assetsLn 16$595K
LiabilitiesLn 26$1.3M
Net assetsLn 32−$734K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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$52K$74K
Land, buildings, equipmentLn 10c$436K$398K
Total assetsLn 16$623K$595K
LiabilitiesLn 26$1.3M$1.3M
Net assetsLn 32−$698K−$734K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$5K$5K
Accounting feesLn 11c$13K$13K
Office expensesLn 13$2K$2K
OccupancyLn 16$36K$36K
InterestLn 20$1K$1K
Depreciation, depletion and amortizationLn 22$39K$39K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$24K$21K$3K
Total functional expensesLn 25$129K$105K$24K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $75K$106K−$32K−$698K 990 PDF
FY2023 $96K$129K−$33K−$666K 990 PDF
FY2022 $101K$135K−$34K−$633K 990 PDF
FY2021 $98K$131K−$33K−$599K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $93,568 across 5 lines filed
VIII-1e Government grants$61,027
VIII-1h Total contributions, gifts and grants$61,027
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $32,083$32,083
VIII-3 Investment incomeExcluded from tax $458$458
VIII-12 Total revenueRelated to mission $32,083 · Unrelated business $0 · Excluded from tax $458$93,568
Part IX · Statement of functional expenses $129,435 across 8 lines filed
IX-11a Management feesManagement $5,292$5,292
IX-11c Accounting feesManagement $13,080$13,080
IX-13 Office expensesManagement $2,494$2,494
IX-16 OccupancyPrograms $36,147$36,147
IX-20 InterestPrograms $1,235$1,235
IX-22 Depreciation, depletion and amortizationPrograms $38,665$38,665
IX-23 InsurancePrograms $8,044$8,044
IX-24 Other expenses (24a–d)Programs $20,985 · Management $3,493$24,478
IX-25 Total functional expensesPrograms $105,076 · Management $24,359 · Fundraising $0$129,435
Part X · Balance sheet $595,163 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $51,617$73,612
X-4 Accounts receivableStart of year $12,835$2,168
X-10c Land, buildings and equipment, netStart of year $436,346$397,681
X-15 Other assetsStart of year $122,649$121,702
X-16 Total assetsStart of year $623,447$595,163
X-17 Accounts payable and accrued expensesStart of year $69,810$76,386
X-25 Other liabilitiesStart of year $1,526$1,298
X-26 Total liabilitiesStart of year $1,321,433$1,329,016
X-27 Net assets without donor restrictionsStart of year −$697,986−$733,853
X-32 Total net assets or fund balancesStart of year −$697,986−$733,853
X-33 Total liabilities and net assetsStart of year $623,447$595,163
Part XI · Reconciliation of net assets −$733,853 net assets at year end
XI-1 Total revenue$93,568
XI-2 Total expenses$129,435
XI-3 Revenue less expenses−$35,867
XI-4 Net assets at start of year−$697,986
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$733,853

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

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