Cherry Hill Development Corporation FY2022 filing

Tax-deductible

Brooklyn, MD501(c)(3)Community DevelopmentEIN 52-1241771Revenue $159K in FY2022

On file with the IRSchdcmd.org806 Cherry Hill Rd, 21225-1314 · Brooklyn, MDTax-exempt since Apr 1982Publicly supported — 509(a)(2)

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Support economic development low income housing rehab, educationand other social services to low moderate income families

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
4 of 6
filings with a surplus
Average surplus $154K a year · 23% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $103K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 12 voting members
Concern: none of 12 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$159K
-80% vs prior year
Spent
$569K
To programs
80%
Net assets
$285K
By yearFY2019–FY2024
Revenue
$159K
FY2022▼ -80%
Tap a bar for its year
Revenue by fiscal year
FY2019$901K
FY2020$315K
FY2021$779K
FY2022$159K
FY2023$1.1M
FY2024$737K
Expenses
$569K
FY2022▲ +55%
Tap a bar for its year
Expenses by fiscal year
FY2019$328K
FY2020$686K
FY2021$367K
FY2022$569K
FY2023$532K
FY2024$606K
Net assets
$285K
FY2022▼ -58%
Tap a bar for its year
Net assets by fiscal year
FY2019$0
FY2020$270K
FY2021$677K
FY2022$285K
FY2023$987K
FY2024$1.4M

From the FY2022 Form 990 · see the original

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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 Apr 1982.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $454K Management & general 20% · $115K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Co-Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
By-Laws Chair
$0Pt VII · Sec A
Fundraising Ch
$0Pt VII · Sec A
Housing Chair
$0Pt VII · Sec A
Audit Chair
$0Pt VII · Sec A

Sacha Smith’s $97K as Executive Director is at the 70th percentile of top reported officer pay among 1709 $100K–1M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023
Sacha Smith$96,769—
Lachele Kellam—$90,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Rehabilitates housing, provides education, and offers social services to low-income families.

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Provided by the organization

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1 program · $454K · in their own filed words · FY2022
01

Economic development for low income housing rehab along with educating

$454Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$103K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$159K
Ln 12
Gifts and grantsLn 1h$159K
Money outPt IX
$569K
Ln 25
Programscol B$454K
Managementcol C$115K
Owns and owesPt X
$285K
net assets · Ln 32
Cash and savingsLn 1–2$285K
Total assetsLn 16$285K
LiabilitiesLn 26$0
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$159K
Government grantsLn 1e$156K
Total revenueLn 12$159K
Assets in detailPt X, end of year
CashLn 1$285K
Cash and savings togetherLn 1–2$285K
Total assetsLn 16$285K
LiabilitiesLn 26$0
Net assetsLn 32$285K
OperationsPt I, VI
EmployeesI 55
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$677K$285K
Total assetsLn 16$677K$285K
LiabilitiesLn 26$0$0
Net assetsLn 32$677K$285K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$90K$68K$22K
Other salaries and wagesLn 7$167K$142K$25K
Payroll taxesLn 10$15K$12K$4K
Management feesLn 11a$38K$20K$18K
Legal feesLn 11b$128$128
Accounting feesLn 11c$17K$10K$7K
Office expensesLn 13$9K$7K$2K
Information technologyLn 14$6K$4K$1K
OccupancyLn 16$22K$22K
TravelLn 17$24$24
Conferences, conventions and meetingsLn 19$7K$7K
InsuranceLn 23$12K$9K$3K
Other expenses (24a–d)Ln 24$187K$184K$3K
Total functional expensesLn 25$569K$454K$115K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $737K$606K$131K$1.4M 990 PDF
FY2023 $1.1M$532K$589K$987K 990 PDF
FY2022 Viewing $159K$569K−$410K$285K 990 PDF
FY2021 $779K$367K$412K$677K 990 PDF
FY2020 $315K$686K−$370K$270K 990 PDF
FY2019 $901K$328K$573K$0 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $158,822 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $778,863$158,822
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $778,863$158,822
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $197,954$272,319
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $168,729$296,925
I-18 Total expensesPrior year $366,683$569,244
I-19 Revenue less expensesPrior year $412,180−$410,422
Part VI · Governance 0 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $158,822 across 5 lines filed
VIII-1e Government grants$155,512
VIII-1f All other contributions, gifts and grants$3,310
VIII-1h Total contributions, gifts and grants$158,822
VIII-8 Net income from fundraising events$0
VIII-12 Total revenue$158,822
Part IX · Statement of functional expenses $569,244 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $67,500 · Management $22,500$90,000
IX-7 Other salaries and wagesPrograms $141,508 · Management $25,476$166,984
IX-10 Payroll taxesPrograms $11,501 · Management $3,834$15,335
IX-11a Management feesPrograms $19,894 · Management $18,427$38,321
IX-11b Legal feesManagement $128$128
IX-11c Accounting feesPrograms $9,657 · Management $7,015$16,672
IX-13 Office expensesPrograms $6,758 · Management $1,831$8,589
IX-14 Information technologyPrograms $4,184 · Management $1,395$5,579
IX-16 OccupancyManagement $21,847$21,847
IX-17 TravelManagement $24$24
IX-19 Conferences, conventions and meetingsManagement $6,842$6,842
IX-23 InsurancePrograms $8,807 · Management $2,936$11,743
IX-24 Other expenses (24a–d)Programs $184,106 · Management $3,074$187,180
IX-25 Total functional expensesPrograms $453,915 · Management $115,329 · Fundraising $0$569,244
Part X · Balance sheet $284,890 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $677,466$284,890
X-16 Total assetsStart of year $677,466$284,890
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $677,466$284,890
X-32 Total net assets or fund balancesStart of year $677,466$284,890
X-33 Total liabilities and net assetsStart of year $677,466$284,890
Part XI · Reconciliation of net assets $284,890 net assets at year end
XI-1 Total revenue$158,822
XI-2 Total expenses$569,244
XI-3 Revenue less expenses−$410,422
XI-4 Net assets at start of year$677,466
XI-10 Net assets at end of year$284,890

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

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