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8240 Boston INC

Not tax-deductible

Lubbock, TXMutual-benefit / member-servingCommunity Development EIN 46-0689365Revenue −$33K in FY2024

On file with the IRS8240 Boston Ave, 79423-3172 · Lubbock, TXTax-exempt since Mar 2016

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8240 Boston INC. Holds the title to the property located at 8240 Boston ave in lubbock, texas for the purpose of collecting rent on the property. The income pays for the insurance and significant repair bills on the property as well as servicing the debt.

Run by 6 volunteers.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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 $4K a year · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Liabilities
$823K
75% of total assets
Worth a look: liabilities are 75% of assets; over 65%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$33K
-3% vs prior year
Spent
$0
Net assets
$271K
By yearFY2020–FY2024
Revenue
−$33K
FY2024▼ -3%
Tap a bar for its year
Revenue by fiscal year
FY2020$897
FY2021$30K
FY2022$14K
FY2023−$32K
FY2024−$33K
Expenses
$0
FY2024
Tap a bar for its year
Expenses by fiscal year
FY2020$0
FY2021$0
FY2022$0
FY2023$0
FY2024$0
Net assets
$271K
FY2024▼ -11%
Tap a bar for its year
Net assets by fiscal year
FY2020$292K
FY2021$323K
FY2022$337K
FY2023$304K
FY2024$271K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Revoked May 2015, reinstated. IRS ruling Mar 2016, per the IRS master file. Latest filing on record: FY2024. IRS ruling in Mar 2016.

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

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Jean Anderson
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Jesse Garcia
Sec/Treas
$0Pt VII · Sec A
Karen Green
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Annie White
Director
$0Pt VII · Sec A
Rose Wilson
Director
$0Pt VII · Sec A
See 8240 Boston 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 15aNo

Programs and updates

Collects rent on a property to cover its insurance, repairs, and debt.

Questions for 8240 Boston INC

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Provided by the organization

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1 program · in their own filed words · FY2024
01

8240 boston inc holds the title to the property at 8240 boston ave in lubbock, texas for the purpose of collecting rent on the property. The income is used to pay for the insurance and significant repairs on the property as well as to sevice the debt on the building.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$33K
Ln 12
Money outPt IX
$0
Ln 25
Owns and owesPt X
$271K
net assets · Ln 32
Cash and savingsLn 1–2$9K
Total assetsLn 16$1.1M
LiabilitiesLn 26$823K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Total revenueLn 12−$33K
Assets in detailPt X, end of year
CashLn 1$9K
Cash and savings togetherLn 1–2$9K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$1.1M
LiabilitiesLn 26$823K
Net assetsLn 32$271K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
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$26K$9K
Land, buildings, equipmentLn 10c$1.1M$1.1M
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$842K$823K
Net assetsLn 32$304K$271K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Total functional expensesLn 25$0$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing −$33K$0−$33K$271K 990 PDF
FY2023 −$32K$0−$32K$304K 990 PDF
FY2022 $14K$0$14K$337K 990 PDF
FY2021 $30K$0$30K$323K 990 PDF
FY2020 $897$0$897$292K 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 −$33,415 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year −$32,382−$33,415
I-12 Total revenuePrior year −$32,382−$33,415
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$0
I-18 Total expenses$0
I-19 Revenue less expensesPrior year −$32,382−$33,415
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 −$33,415 across 2 lines filed
VIII-6 Net rental income or lossRelated to mission −$33,415−$33,415
VIII-12 Total revenueRelated to mission −$33,415−$33,415
Part IX · Statement of functional expenses $0 across 0 lines filed
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$0
Part X · Balance sheet $1,093,239 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $26,476$9,398
X-10c Land, buildings and equipment, netStart of year $1,115,164$1,080,444
X-14 Intangible assetsStart of year $4,727$3,397
X-16 Total assetsStart of year $1,146,367$1,093,239
X-26 Total liabilitiesStart of year $842,219$822,506
X-27 Net assets without donor restrictionsStart of year $304,148$270,733
X-32 Total net assets or fund balancesStart of year $304,148$270,733
X-33 Total liabilities and net assetsStart of year $1,146,367$1,093,239
Part XI · Reconciliation of net assets $270,733 net assets at year end
XI-1 Total revenue−$33,415
XI-2 Total expenses$0
XI-3 Revenue less expenses−$33,415
XI-4 Net assets at start of year$304,148
XI-10 Net assets at end of year$270,733

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

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