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Keystone Development LLC

Tax-deductible

Johnson City, TN501(c)(3)Housing EIN 46-3332662Revenue $924K in FY2025

On file with the IRS901 Pardee St, 37601-4939 · Johnson City, TNTax-exempt since Jun 2014Publicly supported charity — 170(b)(1)(A)(vi)

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To promote and provide a safe, sanitary, secure, and affordable housing for those with little or no income in johnson city, tennessee.

501(c)(3) charity; gifts are tax-deductible.
63¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average deficit $59K a year · 10% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
63%
of spending
Worth a look: 63% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 4.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$268K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$924K
+196% vs prior year
Spent
$918K
To programs
63%
Net assets
$4.3M
By yearFY2020–FY2025
Revenue
$924K
FY2025▲ +196%
Tap a bar for its year
Revenue by fiscal year
FY2020$846K
FY2021$529K
FY2022$491K
FY2023$606K
FY2024$312K
FY2025$924K
Expenses
$918K
FY2025▲ +47%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.5M
FY2021$315K
FY2022$251K
FY2023$440K
FY2024$623K
FY2025$918K
Net assets
$4.3M
FY2025+0.1%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.6M
FY2021$4.1M
FY2022$4.3M
FY2023$4.5M
FY2024$4.3M
FY2025$4.3M

From the FY2025 Form 990 (year ending September 2025) · 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: FY2025. IRS ruling in Jun 2014.

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

Where the money goes

63 cents of each dollar spent went to programs.

Program services 63% · $580K Management & general 37% · $338K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Colin Johnson
Chairperson
$0Pt VII · Sec A
Ted Ganger
Vice-Chairperson
$0Pt VII · Sec A
Donna Cherry
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Sam Edwards
Executive Director
$0Pt VII · Sec A
See Keystone Development LLC 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

Provides safe, affordable housing for low-income individuals in Johnson City, Tennessee.

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1 program · $580K · in their own filed words · FY2024
01

To promote and provide safe, sanitary, secure, and affordable housing for those with little or no income in johnson city, tennessee

$580Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$924K
Ln 12
Gifts and grantsLn 1h$519K
Fees for servicesLn 2g$264K
Other incomeLn 4–11$126K
Money outPt IX
$918K
Ln 25
Programscol B$580K
Managementcol C$338K
Owns and owesPt X
$4.3M
net assets · Ln 32
Cash and savingsLn 1–2$312K
Total assetsLn 16$4.6M
LiabilitiesLn 26$268K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$519K
Government grantsLn 1e$57K
Fees for servicesLn 2g$264K
Investment incomeLn 3$15K
Other incomeLn 4–11$126K
Total revenueLn 12$924K
Assets in detailPt X, end of year
CashLn 1$232K
SavingsLn 2$80K
Cash and savings togetherLn 1–2$312K
Land, buildings, equipmentLn 10c$4.2M
Total assetsLn 16$4.6M
LiabilitiesLn 26$268K
Net assetsLn 32$4.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderSeptember
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 FY25End FY25
Cash and savingsLn 1–2$686K$312K
Land, buildings, equipmentLn 10c$3.9M$4.2M
Total assetsLn 16$4.6M$4.6M
LiabilitiesLn 26$281K$268K
Net assetsLn 32$4.3M$4.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$210K$179K$32K
Other employee benefitsLn 9$72K$61K$11K
Management feesLn 11a$16K$16K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$2K$2K
Office expensesLn 13$14K$656$13K
Information technologyLn 14$2K$2K
TravelLn 17$2K$2K
InterestLn 20$15K$15K
Depreciation, depletion and amortizationLn 22$174K$174K
InsuranceLn 23$15K$15K
Other expenses (24a–d)Ln 24$368K$328K$40K
All other expensesLn 24e$17K$10K$8K
Total functional expensesLn 25$918K$580K$338K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $924K$918K$6K$4.3M 990 PDF
FY2024 $312K$623K−$311K$4.3M 990 PDF
FY2023 $606K$440K$166K$4.5M 990 PDF
FY2022 $491K$251K$240K$4.3M 990 PDF
FY2021 $529K$315K$213K$4.1M 990 PDF
FY2020 $846K$1.5M−$671K$2.6M 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 FY2025 990 (6 parts)
Part I · Summary $924,482 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $54,590$519,113
I-9 Program service revenuePrior year $222,296$264,388
I-10 Investment incomePrior year $34,919$15,251
I-11 Other revenuePrior year $346$125,730
I-12 Total revenuePrior year $312,151$924,482
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 $240,568$282,107
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $382,657$636,206
I-18 Total expensesPrior year $623,225$918,313
I-19 Revenue less expensesPrior year −$311,074$6,169
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $924,482 across 7 lines filed
VIII-1e Government grants$57,147
VIII-1f All other contributions, gifts and grants$461,966
VIII-1h Total contributions, gifts and grants$519,113
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $264,388$264,388
VIII-3 Investment incomeExcluded from tax $15,251$15,251
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $125,730$125,730
VIII-12 Total revenueRelated to mission $390,118 · Unrelated business $0 · Excluded from tax $15,251$924,482
Part IX · Statement of functional expenses $918,313 across 14 lines filed
IX-7 Other salaries and wagesPrograms $178,591 · Management $31,516$210,107
IX-9 Other employee benefitsPrograms $61,200 · Management $10,800$72,000
IX-11a Management feesManagement $16,000$16,000
IX-11b Legal feesManagement $2,423$2,423
IX-11c Accounting feesManagement $8,252$8,252
IX-11g Other fees for servicesPrograms $1,778$1,778
IX-13 Office expensesPrograms $656 · Management $12,968$13,624
IX-14 Information technologyManagement $2,153$2,153
IX-17 TravelManagement $1,860$1,860
IX-20 InterestManagement $15,083$15,083
IX-22 Depreciation, depletion and amortizationManagement $173,854$173,854
IX-23 InsuranceManagement $15,499$15,499
IX-24 Other expenses (24a–d)Programs $328,331 · Management $39,945$368,276
IX-24e All other expensesPrograms $9,734 · Management $7,670$17,404
IX-25 Total functional expensesPrograms $580,290 · Management $338,023 · Fundraising $0$918,313
Part X · Balance sheet $4,608,987 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $340,913$231,664
X-2 Savings and temporary cash investmentsStart of year $344,723$80,124
X-4 Accounts receivableStart of year $37,903$80,040
X-8 Inventories for sale or useStart of year $4,305$4,405
X-9 Prepaid expenses and deferred chargesStart of year $8,556$7,769
X-10c Land, buildings and equipment, netStart of year $3,879,733$4,204,985
X-16 Total assetsStart of year $4,616,133$4,608,987
X-17 Accounts payable and accrued expensesStart of year $23,199$20,886
X-19 Deferred revenueStart of year $1,334$2,376
X-25 Other liabilitiesStart of year $31,730$36,146
X-26 Total liabilitiesStart of year $281,417$268,102
X-27 Net assets without donor restrictionsStart of year $4,334,716$4,340,885
X-32 Total net assets or fund balancesStart of year $4,334,716$4,340,885
X-33 Total liabilities and net assetsStart of year $4,616,133$4,608,987
Part XI · Reconciliation of net assets $4,340,885 net assets at year end
XI-1 Total revenue$924,482
XI-2 Total expenses$918,313
XI-3 Revenue less expenses$6,169
XI-4 Net assets at start of year$4,334,716
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,340,885

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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