United Mutual Corp EIN 47-3887524 Form 990 (PDF) Claim this org

United Mutual Corp

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Builds and manages affordable homes for low and moderate-income families. For fiscal year 2024 it reported $711 in revenue, $65K in expenses, and $481K in net assets.Pt I

Type
Mutual-benefit / member-serving · Housing
Location
New York, NY
Filings
5 on file (2020–2024)
Revenue
$711FY2024
Expenses
$65K
Net assets
$481K
People
12
Filings
5
Updates
0
More identity details & actions ⌄
EIN  47-3887524 Mutual-benefit / member-serving New York, NY
Form 990 (PDF)
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Size
<$100K
What they do
Builds and manages affordable homes for low and moderate-income families.
Leadership
Herman Hewitt · President
Money in and out
$711 revenue, $65K expenses
Bottom line
-9111% surplus margin
Reported financial activity · FY2024
Total revenue
$711
Pt VIII · Ln 12
Total expenses
$65K
Pt IX · Ln 25
Net assets
$481K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$65K
Where spending went · Part IX cols B–D
Program services $1.00
Surplus margin
-9111%
revenue over expenses, this year▼ -144% vs prior filing year
Program spending
100%
of expenses reach programs0% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$711
FY2024▼ -52%
Expenses
$65K
FY2024▲ +17%
Total assets
$481K
FY2024▼ -12%
Total liabilities
$0
FY2024
Total revenue
$711
Pt VIII · Ln 12
Total expenses
$65K
Pt IX · Ln 25
Net assets
$481K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$65K
Total assetsPt X · Ln 16$481K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 311
Independent voting membersPt I · Ln 411
Mission & Programs · Part III

Where the work happens

1 program service account for $65K of program spending, described in the organization's own filed words · FY2024.
01

To provide low & moderate income housing

$65Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CUnited Mutual Corp
EINHdr · item D47-3887524
Principal addressHdr · item CNew York, NY
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(2) · active
NTEE classificationIRS BMFHousing (L21)
Ruling yearIRS BMFAug 2015

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a11
Independent voting membersPt VI · Ln 1b11
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Investment income100%$711
Total revenueLn 12$711

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$65K
Total functional expensesLn 25$65K

Balance Sheet

Part X · end of year
CashLn 1
Total assetsLn 16$481K
Total liabilitiesLn 26$0
Total net assetsLn 32$481K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves — · Operating expenses/yr $65K
Highly liquid reserves (cash & marketable securities on Pt X) ÷ monthly operating expenses (Pt IX total, less non-cash grants & depreciation when reported).
Where the money goes
Program services
Program services $65K · Total expenses $65K
100%
Management & General
Management & general $0 · Total expenses $65K
0%
Fundraising
Fundraising $0 · Total expenses $65K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $711
0%
Government reliance
Government grants — · Total revenue $711
Earned-income share
Program service revenue $0 · Total revenue $711
0%
Investment reliance
Investment income $711 · Total revenue $711
+100%
Program self-sufficiency
Program service revenue $0 · Total expenses $65K
0%
Growth & trend
Revenue growth (YoY)
This year $711 · Prior year $1K
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $481K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $711 · Expenses $65K
-9111%
Liabilities-to-Assets
Total liabilities — · Total assets $481K
Net-asset ratio
Net assets $481K · Total assets $481K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $481K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Herman Hewitt · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $65K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $65K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Revenue growth -52%

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
FY2024 (Latest)$711 revenue · viewing · ⤓ 990 PDF
FY2023$1K revenue · ⤓ 990 PDF
FY2022$212 revenue · ⤓ 990 PDF
FY2021$50 revenue · ⤓ 990 PDF
FY2020$127 revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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