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4-K Housing INC FY2022 filing

Tax-deductible

Lakeway, TX501(c)(3)Since 2013Human Services EIN 46-4457739Revenue $12.0M in FY2022

On file with the IRS317 Martinique Pass, 78734-5314 · Lakeway, TXTax-exempt since May 1999Publicly supported — 509(a)(2)

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To assert efforts towards developing, financing, and operating (for the long-term) quality, stable and healthy, program-enriched, affordable Housing for senior citizens with alzheimer's disease and other dementia related illnesses. Personal care support is also provided and designed to meet the needs of the residents.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · 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 5
filings with a surplus
Average deficit $1.3M a year · 11% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$52.5M
119% of total assets
Concern: liabilities are 119% 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
$12.0M
+1% vs prior year
Spent
$14.3M
To programs
82%
Net assets
−$8.4M
By yearFY2020–FY2024
Revenue
$12.0M
FY2022▲ +1%
Tap a bar for its year
Revenue by fiscal year
FY2020$10.8M
FY2021$11.8M
FY2022$12.0M
FY2023$12.7M
FY2024$12.6M
Expenses
$14.3M
FY2022▲ +15%
Tap a bar for its year
Expenses by fiscal year
FY2020$12.3M
FY2021$12.5M
FY2022$14.3M
FY2023$13.4M
FY2024$13.9M
Net assets
−$8.4M
FY2022▼ -40%
Tap a bar for its year
Net assets by fiscal year
FY2020−$5.3M
FY2021−$6.0M
FY2022−$8.4M
FY2023−$9.1M
FY2024−$10.4M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1999.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $11.8M Management & general 18% · $2.6M

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
Robbie L Wittner
Chairman, COO, Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Doug Lee
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Lloyd Kitchen
Executive Vice President
$0Pt VII · Sec A
See 4-K Housing 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides affordable, stable housing and personal care for seniors with Alzheimer's and dementia.

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1 program · $11.8M · in their own filed words · FY2022
01

Three senior living facilities providing 221 quality affordable assisted living memory care units for senior citizens.

$11.8Mprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$12.0M
Ln 12
Fees for servicesLn 2g$11.9M
Investment incomeLn 3$36K
Money outPt IX
$14.3M
Ln 25
Programscol B$11.8M
Managementcol C$2.6M
Owns and owesPt X
−$8.4M
net assets · Ln 32
Cash and savingsLn 1–2$285K
Total assetsLn 16$44.1M
LiabilitiesLn 26$52.5M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$11.9M
Investment incomeLn 3$36K
Total revenueLn 12$12.0M
Assets in detailPt X, end of year
CashLn 1$285K
Cash and savings togetherLn 1–2$285K
Land, buildings, equipmentLn 10c$37.9M
Other assetsLn 15$4.7M
Total assetsLn 16$44.1M
LiabilitiesLn 26$52.5M
Net assetsLn 32−$8.4M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$286K$285K
Land, buildings, equipmentLn 10c$39.2M$37.9M
Total assetsLn 16$45.8M$44.1M
LiabilitiesLn 26$51.8M$52.5M
Net assetsLn 32−$6.0M−$8.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$4.5M$4.5M
Pension plan contributionsLn 8$28K$28K
Other employee benefitsLn 9$267K$267K
Payroll taxesLn 10$456K$456K
Management feesLn 11a$505K$505K
Legal feesLn 11b$1.2M$1.2M
Accounting feesLn 11c$22K$22K
Other fees for servicesLn 11g$19K$19K
Advertising and promotionLn 12$168K$168K
Office expensesLn 13$39K$39K
Information technologyLn 14$44K$44K
OccupancyLn 16$676K$676K
TravelLn 17$18K$18K
InterestLn 20$2.4M$2.4M
Depreciation, depletion and amortizationLn 22$1.7M$1.7M
InsuranceLn 23$292K$292K
Other expenses (24a–d)Ln 24$2.0M$1.2M$808K
All other expensesLn 24e$39K$39K$172
Total functional expensesLn 25$14.3M$11.8M$2.6M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $12.6M$13.9M−$1.3M−$10.4M 990 PDF
FY2023 $12.7M$13.4M−$740K−$9.1M 990 PDF
FY2022 Viewing $12.0M$14.3M−$2.4M−$8.4M 990 PDF
FY2021 $11.8M$12.5M−$673K−$6.0M 990 PDF
FY2020 $10.8M$12.3M−$1.5M−$5.3M 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 FY2022 990 (6 parts)
Part I · Summary $11,956,615 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $992,006$0
I-9 Program service revenuePrior year $10,802,141$11,920,618
I-10 Investment incomePrior year $14,692$35,997
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $11,808,839$11,956,615
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 $4,876,373$5,234,095
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $7,605,080$9,112,482
I-18 Total expensesPrior year $12,481,453$14,346,577
I-19 Revenue less expensesPrior year −$672,614−$2,389,962
Part VI · Governance 2 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members2
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $11,956,615 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $11,920,618$11,920,618
VIII-3 Investment incomeExcluded from tax $35,997$35,997
VIII-12 Total revenueRelated to mission $11,920,618 · Unrelated business $0 · Excluded from tax $35,997$11,956,615
Part IX · Statement of functional expenses $14,346,577 across 18 lines filed
IX-7 Other salaries and wagesPrograms $4,482,768$4,482,768
IX-8 Pension plan contributionsPrograms $28,226$28,226
IX-9 Other employee benefitsPrograms $266,704$266,704
IX-10 Payroll taxesPrograms $456,397$456,397
IX-11a Management feesManagement $505,014$505,014
IX-11b Legal feesManagement $1,185,340$1,185,340
IX-11c Accounting feesManagement $22,000$22,000
IX-11g Other fees for servicesManagement $18,826$18,826
IX-12 Advertising and promotionPrograms $167,606$167,606
IX-13 Office expensesPrograms $39,048$39,048
IX-14 Information technologyPrograms $43,720$43,720
IX-16 OccupancyPrograms $676,493$676,493
IX-17 TravelManagement $17,884$17,884
IX-20 InterestPrograms $2,371,000$2,371,000
IX-22 Depreciation, depletion and amortizationPrograms $1,714,124$1,714,124
IX-23 InsurancePrograms $292,166$292,166
IX-24 Other expenses (24a–d)Programs $1,211,904 · Management $808,438$2,020,342
IX-24e All other expensesPrograms $38,747 · Management $172$38,919
IX-25 Total functional expensesPrograms $11,788,903 · Management $2,557,674 · Fundraising $0$14,346,577
Part X · Balance sheet $44,144,375 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $285,727$284,592
X-4 Accounts receivableStart of year $24,299$27,342
X-9 Prepaid expenses and deferred chargesStart of year $370,618$264,704
X-10c Land, buildings and equipment, netStart of year $39,247,031$37,855,774
X-14 Intangible assetsStart of year $1,042,408$988,057
X-15 Other assetsStart of year $4,866,509$4,723,906
X-16 Total assetsStart of year $45,836,592$44,144,375
X-17 Accounts payable and accrued expensesStart of year $2,119,941$2,785,418
X-19 Deferred revenueStart of year $171,375$203,643
X-20 Tax-exempt bond liabilitiesStart of year $44,705,000$44,705,000
X-26 Total liabilitiesStart of year $51,801,316$52,499,061
X-27 Net assets without donor restrictionsStart of year −$5,964,724−$8,354,686
X-32 Total net assets or fund balancesStart of year −$5,964,724−$8,354,686
X-33 Total liabilities and net assetsStart of year $45,836,592$44,144,375
Part XI · Reconciliation of net assets −$8,354,686 net assets at year end
XI-1 Total revenue$11,956,615
XI-2 Total expenses$14,346,577
XI-3 Revenue less expenses−$2,389,962
XI-4 Net assets at start of year−$5,964,724
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$8,354,686

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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