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Synetics Corporation

Not tax-deductible

Wilmington, DEMutual-benefit / member-servingSince 1989 EIN 51-0320157Revenue $1.4M in FY2025

On file with the IRS2400 W 4th St, 19805-3306 · Wilmington, DETax-exempt since May 1990

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Affordable housing for the mentally ill

92¢ of each $1 spent went to programs.
Run by 7 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
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
4 of 5
filings with a surplus
Average surplus $165K a year · 22% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Plus $1.1M in investments, Pt X · Ln 11–13
Fine: 1.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$947K
24% of total assets
Looks good: liabilities are 24% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.4M
+139% vs prior year
Spent
$662K
To programs
92%
Net assets
$2.9M
By yearFY2020–FY2025
Revenue
$1.4M
FY2025▲ +139%
Tap a bar for its year
Revenue by fiscal year
FY2020$549K
FY2021$618K
FY2022$520K
FY2023$593K
FY2025$1.4M
Expenses
$662K
FY2025▲ +17%
Tap a bar for its year
Expenses by fiscal year
FY2020$486K
FY2021$598K
FY2022$565K
FY2023$564K
FY2025$662K
Net assets
$2.9M
FY2025▲ +122%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$1.3M
FY2022$1.3M
FY2023$1.3M
FY2025$2.9M

From the FY2025 Form 990 (year ending June 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 May 1990.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $612K Management & general 8% · $50K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Harold Bozeman
Board Member
$0Pt VII · Sec A
Wade G Jones
Board Member
$0Pt VII · Sec A
Joe Manfre
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Van Shea Sedita
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
See Synetics Corporation 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 15aYes

Programs and updates

Provides safe, affordable homes for individuals with mental illness.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

To provide and develop low cost housing for the mentally ill

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.4M
Ln 12
Fees for servicesLn 2g$717K
Investment incomeLn 3$704K
Money outPt IX
$662K
Ln 25
Programscol B$612K
Managementcol C$50K
Owns and owesPt X
$2.9M
net assets · Ln 32
Cash and savingsLn 1–2$100K
Total assetsLn 16$3.9M
LiabilitiesLn 26$947K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$717K
Investment incomeLn 3$704K
Gains on assetsLn 7$658K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$100K
Cash and savings togetherLn 1–2$100K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$2.6M
Total assetsLn 16$3.9M
LiabilitiesLn 26$947K
Net assetsLn 32$2.9M
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
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$66K$100K
InvestmentsLn 11–13$487K$1.1M
Land, buildings, equipmentLn 10c$2.7M$2.6M
Total assetsLn 16$3.3M$3.9M
LiabilitiesLn 26$1.1M$947K
Net assetsLn 32$2.2M$2.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other employee benefitsLn 9$4K$4K
Management feesLn 11a$115K$115K
Accounting feesLn 11c$12K$12K
Office expensesLn 13$24K$24K
Information technologyLn 14$2K$2K
OccupancyLn 16$217K$217K
TravelLn 17$2K$2K
InterestLn 20$27K$27K
Depreciation, depletion and amortizationLn 22$148K$148K
InsuranceLn 23$43K$43K
Other expenses (24a–d)Ln 24$57K$55K$2K
All other expensesLn 24e$11K$7K$4K
Total functional expensesLn 25$662K$612K$50K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.4M$662K$758K$2.9M 990 PDF
FY2024 Not on file
FY2023 $593K$564K$30K$1.3M 990 PDF
FY2022 $520K$565K−$45K$1.3M 990 PDF
FY2021 $618K$598K$20K$1.3M 990 PDF
FY2020 $549K$486K$64K$1.3M 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 FY2025 990 (6 parts)
Part I · Summary $1,420,476 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $720,000$0
I-9 Program service revenuePrior year $697,209$716,946
I-10 Investment incomePrior year $41,472$703,530
I-11 Other revenue$0
I-12 Total revenuePrior year $1,458,681$1,420,476
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,571$3,587
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $589,166$658,711
I-18 Total expensesPrior year $592,737$662,298
I-19 Revenue less expensesPrior year $865,944$758,178
Part VI · Governance 7 of 7 board members independent, 2 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,420,476 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $716,946$716,946
VIII-3 Investment incomeExcluded from tax $45,511$45,511
VIII-7 Net gain or loss on sales of assetsRelated to mission $658,019$658,019
VIII-12 Total revenueRelated to mission $1,374,965 · Excluded from tax $45,511$1,420,476
Part IX · Statement of functional expenses $662,298 across 12 lines filed
IX-9 Other employee benefitsManagement $3,587$3,587
IX-11a Management feesPrograms $115,106$115,106
IX-11c Accounting feesManagement $12,010$12,010
IX-13 Office expensesManagement $24,387$24,387
IX-14 Information technologyManagement $1,953$1,953
IX-16 OccupancyPrograms $217,464$217,464
IX-17 TravelManagement $2,247$2,247
IX-20 InterestPrograms $27,132$27,132
IX-22 Depreciation, depletion and amortizationPrograms $148,329$148,329
IX-23 InsurancePrograms $42,990$42,990
IX-24 Other expenses (24a–d)Programs $54,552 · Management $1,952$56,504
IX-24e All other expensesPrograms $6,820 · Management $3,769$10,589
IX-25 Total functional expensesPrograms $612,393 · Management $49,905 · Fundraising $0$662,298
Part X · Balance sheet $3,880,699 assets, 10 lines filed
Asset lines not itemized here account for $87,244; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $65,540$99,571
X-10c Land, buildings and equipment, netStart of year $2,694,239$2,603,472
X-11 Publicly traded securitiesStart of year $487,029$1,090,412
X-16 Total assetsStart of year $3,280,487$3,880,699
X-17 Accounts payable and accrued expenses$25,253
X-25 Other liabilitiesStart of year $62,015$60,982
X-26 Total liabilitiesStart of year $1,096,186$946,506
X-27 Net assets without donor restrictionsStart of year $2,184,301$2,934,193
X-32 Total net assets or fund balancesStart of year $2,184,301$2,934,193
X-33 Total liabilities and net assetsStart of year $3,280,487$3,880,699
Part XI · Reconciliation of net assets $2,934,193 net assets at year end
XI-1 Total revenue$1,420,476
XI-2 Total expenses$662,298
XI-3 Revenue less expenses$758,178
XI-4 Net assets at start of year$2,184,301
XI-9 Other changes in net assets−$8,286
XI-10 Net assets at end of year$2,934,193

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

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