Rhe Fireside Park INC

Rockville, MDUnknown exempt organization EIN 46-1346433Revenue $2.9M in FY2020

On file with the IRS1300 Piccard Drive No 203 · Rockville, MD

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To acquire, hold, maintain, and operate a 236 unit multi-family apartment complex known as Fireside Park apartments.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.9M
Spent
$1.9M
To programs
100%
Net assets
$0

From the FY2020 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2020.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $1.9M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice President/Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
See Rhe Fireside Park 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

Operates a 236-unit apartment complex for residents.

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Provided by the organization

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1 program · $1.9M · in their own filed words · FY2020
01

To acquire, hold, maintain, and operate a 236 unit multi-family apartment complex known as fireside park apartments located at 701 munroe street rockville, MD 20850.

$1.9Mprogram expense

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$2.9M
Ln 12
Fees for servicesLn 2g$1.6M
Investment incomeLn 3$1.3M
Money outPt IX
$1.9M
Ln 25
Programscol B$1.9M
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.6M
Investment incomeLn 3$1.3M
Gains on assetsLn 7$1.3M
Total revenueLn 12$2.9M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
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 FY20End FY20
Cash and savingsLn 1–2$5.1M$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$32.0M$0
Total assetsLn 16$38.0M$0
LiabilitiesLn 26$39.1M$0
Net assetsLn 32−$1.0M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$140K$140K
Legal feesLn 11b$1K$1K
Advertising and promotionLn 12$11K$11K
Office expensesLn 13$26K$26K
OccupancyLn 16$354K$354K
InterestLn 20$614K$614K
Depreciation, depletion and amortizationLn 22$409K$409K
Other expenses (24a–d)Ln 24$318K$318K
Total functional expensesLn 25$1.9M$1.9M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $2.9M$1.9M$1.0M$0 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $2,894,306 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $3,900,297$1,565,951
I-10 Investment incomePrior year $697$1,328,355
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $3,900,994$2,894,306
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 $3,821,712$1,873,496
I-18 Total expensesPrior year $3,821,712$1,873,496
I-19 Revenue less expensesPrior year $79,282$1,020,810
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $2,894,306 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,565,951$1,565,951
VIII-3 Investment incomeExcluded from tax $180$180
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,328,175$1,328,175
VIII-12 Total revenueRelated to mission $1,565,951 · Unrelated business $0 · Excluded from tax $1,328,355$2,894,306
Part IX · Statement of functional expenses $1,873,496 across 8 lines filed
IX-11a Management feesPrograms $140,002$140,002
IX-11b Legal feesPrograms $1,258$1,258
IX-12 Advertising and promotionPrograms $11,088$11,088
IX-13 Office expensesPrograms $25,611$25,611
IX-16 OccupancyPrograms $354,481$354,481
IX-20 InterestPrograms $613,612$613,612
IX-22 Depreciation, depletion and amortizationPrograms $409,236$409,236
IX-24 Other expenses (24a–d)Programs $318,208$318,208
IX-25 Total functional expensesPrograms $1,873,496 · Management $0 · Fundraising $0$1,873,496
Part X · Balance sheet $0 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $5,093,245$0
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $93,417$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $130,863$0
X-10c Land, buildings and equipment, netStart of year $32,035,837$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $685,067$0
X-16 Total assetsStart of year $38,038,429$0
X-17 Accounts payable and accrued expensesStart of year $835,228$0
X-19 Deferred revenueStart of year $47,256$0
X-25 Other liabilitiesStart of year $6,051,825$0
X-26 Total liabilitiesStart of year $39,059,239$0
X-27 Net assets without donor restrictionsStart of year −$1,020,810$0
X-32 Total net assets or fund balancesStart of year −$1,020,810$0
X-33 Total liabilities and net assetsStart of year $38,038,429$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$2,894,306
XI-2 Total expenses$1,873,496
XI-3 Revenue less expenses$1,020,810
XI-4 Net assets at start of year−$1,020,810
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$0

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

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