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Better Community Corportation FY2020 filing

Not tax-deductible

Verona, MS501(c)(4)Since 1979 EIN 51-0191097Revenue $224K in FY2020

On file with the IRSPo Box 1090, 38879-1090 · Verona, MSTax-exempt since Oct 1983

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Better Community corporation is organized as a non-profit organization formed to acquire an interest in real property and to construct and operate thereon an apartment complex of 24 units, under section 202 of the national housing act. Such projects are regulated by hud as to rent charges and operating methods.

501(c)(4) social-welfare organization; gifts are not tax-deductible as charitable contributions.
100¢ of each $1 spent went to programs.
$41K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
6 of 6
filings with a surplus
Average surplus $32K a year · 13% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$41K
to officers and key staff · 21% of spending
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Looks good: 3.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$240K
167% of total assets
Concern: liabilities are 167% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 4 voting members
Concern: none of 4 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$224K
Spent
$195K
To programs
100%
Net assets
−$97K
By yearFY2020–FY2025
Revenue
$224K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$224K
FY2021$233K
FY2022$224K
FY2023$237K
FY2024$239K
FY2025$263K
Expenses
$195K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$195K
FY2021$196K
FY2022$197K
FY2023$188K
FY2024$235K
FY2025$219K
Net assets
−$97K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$97K
FY2021−$59K
FY2022−$33K
FY2023$17K
FY2024$21K
FY2025$65K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1983.

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% · $195K

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

4 people listed on the 990; $41K paid to officers and key staff.

Part VII, Section A · reportable compensation
Kim Pannell
Sec/Treas
$21,345Pt VII · Sec A
$19,800Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Better Community Corportation 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

Builds and operates affordable apartments for residents.

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Provided by the organization

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1 program · $12K · in their own filed words · FY2020
01

A

$12Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$224K
Ln 12
Fees for servicesLn 2g$222K
Other incomeLn 4–11$1K
Investment incomeLn 3$5
Money outPt IX
$195K
Ln 25
Programscol B$195K
Owns and owesPt X
−$97K
net assets · Ln 32
Cash and savingsLn 1–2$52K
Total assetsLn 16$143K
LiabilitiesLn 26$240K
PeoplePt VI, VII
4
listed · VII A
PaidVII A2
Voting boardVI 1a4
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$222K
Investment incomeLn 3$5
Other incomeLn 4–11$1K
Total revenueLn 12$224K
Assets in detailPt X, end of year
CashLn 1$5K
SavingsLn 2$47K
Cash and savings togetherLn 1–2$52K
Land, buildings, equipmentLn 10c$84K
Other assetsLn 15$170
Total assetsLn 16$143K
LiabilitiesLn 26$240K
Net assetsLn 32−$97K
OperationsPt I, VI
EmployeesI 53
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$47K$52K
Land, buildings, equipmentLn 10c$105K$84K
Total assetsLn 16$158K$143K
LiabilitiesLn 26$283K$240K
Net assetsLn 32−$126K−$97K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$45K$45K
Other employee benefitsLn 9$2K$2K
Payroll taxesLn 10$4K$4K
Accounting feesLn 11c$5K$5K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$2K$2K
InterestLn 20$22K$22K
Depreciation, depletion and amortizationLn 22$20K$20K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$71K$71K
All other expensesLn 24e$8K$8K
Total functional expensesLn 25$195K$195K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $263K$219K$44K$65K 990 PDF
FY2024 $239K$235K$4K$21K 990 PDF
FY2023 $237K$188K$50K$17K 990 PDF
FY2022 $224K$197K$27K−$33K 990 PDF
FY2021 $233K$196K$37K−$59K 990 PDF
FY2020 Viewing $224K$195K$29K−$97K 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 FY2020 990 (6 parts)
Part I · Summary $223,777 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $221,546$222,414
I-10 Investment incomePrior year $5$5
I-11 Other revenuePrior year $1,686$1,358
I-12 Total revenuePrior year $223,237$223,777
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $51,475$51,780
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $141,435$142,972
I-18 Total expensesPrior year $192,910$194,752
I-19 Revenue less expensesPrior year $30,327$29,025
Part VI · Governance 0 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members0
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 $223,777 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $222,414$222,414
VIII-3 Investment incomeRelated to mission $5$5
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,358$1,358
VIII-12 Total revenueRelated to mission $223,777$223,777
Part IX · Statement of functional expenses $194,752 across 11 lines filed
IX-7 Other salaries and wagesPrograms $45,230$45,230
IX-9 Other employee benefitsPrograms $2,400$2,400
IX-10 Payroll taxesPrograms $4,150$4,150
IX-11c Accounting feesPrograms $5,465$5,465
IX-12 Advertising and promotionPrograms $2,446$2,446
IX-13 Office expensesPrograms $1,817$1,817
IX-20 InterestPrograms $21,974$21,974
IX-22 Depreciation, depletion and amortizationPrograms $20,479$20,479
IX-23 InsurancePrograms $11,795$11,795
IX-24 Other expenses (24a–d)Programs $70,858$70,858
IX-24e All other expensesPrograms $8,138$8,138
IX-25 Total functional expensesPrograms $194,752 · Management $0 · Fundraising $0$194,752
Part X · Balance sheet $143,420 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $6,775$5,377
X-2 Savings and temporary cash investmentsStart of year $40,382$46,842
X-4 Accounts receivableStart of year $4,773$6,277
X-9 Prepaid expenses and deferred chargesStart of year $817$462
X-10c Land, buildings and equipment, netStart of year $104,771$84,292
X-15 Other assetsStart of year $170$170
X-16 Total assetsStart of year $157,688$143,420
X-17 Accounts payable and accrued expensesStart of year $19,441$18,808
X-24 Unsecured notes and loans payableStart of year $256,975$214,593
X-25 Other liabilitiesStart of year $6,997$6,719
X-26 Total liabilitiesStart of year $283,413$240,120
X-32 Total net assets or fund balancesStart of year −$125,725−$96,700
X-33 Total liabilities and net assetsStart of year $157,688$143,420
Part XI · Reconciliation of net assets −$96,700 net assets at year end
XI-1 Total revenue$223,777
XI-2 Total expenses$194,752
XI-3 Revenue less expenses$29,025
XI-4 Net assets at start of year−$125,725
XI-10 Net assets at end of year−$96,700

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

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