Keystone Development LLC EIN 46-3332662 Form 990 (PDF) Claim this org

Keystone Development LLC FY2023 filing

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Provides safe, affordable housing for low-income individuals in Johnson City, Tennessee. For fiscal year 2023 it reported $606K in revenue, $440K in expenses, and $4.5M in net assets.Pt I

Type
Public charity (501(c)(3)) · Housing
Location
Johnson City, TN
Filings
6 on file (2020–2023)
Revenue
$606KFY2023
Expenses
$440K
Net assets
$4.5M
People
6
Filings
6
Updates
0
More identity details & actions ⌄
EIN  46-3332662 Public charity (501(c)(3)) Johnson City, TN
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Provides safe, affordable housing for low-income individuals in Johnson City, Tennessee.
Leadership
Collin Johnson · Chairperson
Money in and out
$606K revenue, $440K expenses
Bottom line
87% program efficiency
Where the money goes · FY2023
Total revenue
$606K
Pt VIII · Ln 12
Total expenses
$440K
Pt IX · Ln 25
Net assets
$4.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $166K
Where spending went · Part IX cols B–D
Program services $0.87 Management & general $0.13
Program efficiency
87%
of spending reaches programs
Operating runway
24.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
+27%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$606K
FY2023▲ +23%
Expenses
$440K
FY2023▲ +75%
Total assets
$4.7M
FY2023▲ +2%
Total liabilities
$271K
FY2023▼ -26%
Total revenue
$606K
Pt VIII · Ln 12
Total expenses
$440K
Pt IX · Ln 25
Net assets
$4.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$166K
Total assetsPt X · Ln 16$4.7M
Program-expense ratioPt IX · col B87%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CKeystone Development LLC
EINHdr · item D46-3332662
Principal addressHdr · item CJohnson City, TN
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MTN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L21)
Ruling yearIRS BMFJun 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Chairperson
$0Pt VII · Sec A
Vice-Chairperson
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $385K of program spending, described in the organization's own filed words · FY2022.
01

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

$385Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$432K · 71%
Program service revenue$165K · 27%
Investment income$10K · 2%
Contributions & grants71%$432K
Program service revenue27%$165K
Investment income2%$10K
— government grantsLn 1e$63K
Total revenueLn 12$606K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.87 Management & general $0.13
Program services87%$385K
Management & general13%$55K
Total functional expensesLn 25$440K

Balance Sheet

Part X · end of year
CashLn 1$546K
Total assetsLn 16$4.7M
Total liabilitiesLn 26$271K
Total net assetsLn 32$4.5M
Months of cash on handcomputed14.9

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $911K · Operating expenses/yr $440K
24.9 months
Where the money goes
Program services
Program services $385K · Total expenses $440K
87%
Management & General
Management & general $55K · Total expenses $440K
13%
Fundraising
Fundraising $0 · Total expenses $440K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $123K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $432K · Total revenue $606K
71%
Government reliance
Government grants $63K · Total revenue $606K
10%
Earned-income share
Program service revenue $165K · Total revenue $606K
27%
Investment reliance
Investment income $10K · Total revenue $606K
+2%
Program self-sufficiency
Program service revenue $165K · Total expenses $440K
37%
Growth & trend
Revenue growth (YoY)
This year $606K · Prior year $491K
+23%
Net-asset trend (YoY)
End of year $4.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $606K · Expenses $440K
+27%
Liabilities-to-Assets
Total liabilities — · Total assets $4.7M
Net-asset ratio
Net assets $4.5M · Total assets $4.7M
94%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $366K · Total assets (Pt X, ln 16) $4.7M
8%
People & payroll
Highest Reported Total Compensation
Individual Collin Johnson · Reported title CHAIRPERSON · Highest reported compensation $0 · Total expenses $440K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $148K · Total expenses $440K
34%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 87%
Overhead ratio 13%
Fundraising cost ratio 0%
Revenue growth 23%
Legal fee ratio 0.2%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$924K revenue · ⤓ 990 PDF
FY2024$312K revenue · ⤓ 990 PDF
FY2023$606K revenue · viewing · ⤓ 990 PDF
FY2022$491K revenue · ⤓ 990 PDF
FY2021$529K revenue · ⤓ 990 PDF
FY2020$846K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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