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Roman Eagle Properties INC FY2024 filing

Tax-deductible

Danville, VA501(c)(3)Since 1983HousingEIN 52-1300826Revenue $326K in FY2024

On file with the IRS156 Forestdale Place, 24540-2100 · Danville, VATax-exempt since Aug 1983Publicly supported — 509(a)(2)

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To provide hud assisted housing to low income elderly

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
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 $19K a year · 6% 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
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$956K
186% of total assets
Concern: liabilities are 186% of assets; over 80%.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$326K
+5% vs prior year
Spent
$299K
To programs
77%
Net assets
−$443K
By yearFY2020–FY2025
Revenue
$326K
FY2024▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$299K
FY2021$301K
FY2022$307K
FY2023$312K
FY2024$326K
FY2025$328K
Expenses
$299K
FY2024▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$288K
FY2021$300K
FY2022$299K
FY2023$283K
FY2024$299K
FY2025$289K
Net assets
−$443K
FY2024▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2020−$508K
FY2021−$507K
FY2022−$499K
FY2023−$470K
FY2024−$443K
FY2025−$404K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 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 Aug 1983.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $231K Management & general 23% · $68K

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

39 people listed on the 990.

Part VII, Section A · reportable compensation
Ricky Dix
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
David L Fuquay
Treasurer & Director
$0Pt VII · Sec A
Gerald Gibson
President & CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Wr Harris II
Director
$0Pt VII · Sec A
WA Wells III
First Vice President
$0Pt VII · Sec A
See Roman Eagle Properties 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides affordable housing for low-income seniors in a 41-bed facility.

Questions for Roman Eagle Properties INC

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Provided by the organization

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1 program · $231K · in their own filed words · FY2024
01

Provide 41 units of hud assisted housing to low income elderly residents

$231Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$326K
Ln 12
Gifts and grantsLn 1h$177K
Fees for servicesLn 2g$148K
Investment incomeLn 3$250
Money outPt IX
$299K
Ln 25
Programscol B$231K
Managementcol C$68K
Owns and owesPt X
−$443K
net assets · Ln 32
Cash and savingsLn 1–2$42K
Total assetsLn 16$513K
LiabilitiesLn 26$956K
PeoplePt VI, VII
39
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$177K
Government grantsLn 1e$177K
Fees for servicesLn 2g$148K
Investment incomeLn 3$250
Total revenueLn 12$326K
Assets in detailPt X, end of year
CashLn 1$4K
SavingsLn 2$38K
Cash and savings togetherLn 1–2$42K
Land, buildings, equipmentLn 10c$460K
Total assetsLn 16$513K
LiabilitiesLn 26$956K
Net assetsLn 32−$443K
OperationsPt I, VI
EmployeesI 52
VolunteersI 60
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 FY24End FY24
Cash and savingsLn 1–2$30K$42K
Land, buildings, equipmentLn 10c$473K$460K
Total assetsLn 16$513K$513K
LiabilitiesLn 26$984K$956K
Net assetsLn 32−$470K−$443K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$49K$19K$30K
Payroll taxesLn 10$4K$1K$2K
Management feesLn 11a$23K$23K
Accounting feesLn 11c$9K$9K
Office expensesLn 13$3K$3K
OccupancyLn 16$156K$156K
InterestLn 20$968$968
Depreciation, depletion and amortizationLn 22$53K$53K
InsuranceLn 23$546$546
Other expenses (24a–d)Ln 24$155$155
Total functional expensesLn 25$299K$231K$68K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $328K$289K$39K−$404K 990 PDF
FY2024 Viewing $326K$299K$27K−$443K 990 PDF
FY2023 $312K$283K$29K−$470K 990 PDF
FY2022 $307K$299K$8K−$499K 990 PDF
FY2021 $301K$300K$817−$507K 990 PDF
FY2020 $299K$288K$11K−$508K 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 FY2024 990 (6 parts)
Part I · Summary $326,031 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $171,720$177,332
I-9 Program service revenuePrior year $140,002$148,449
I-10 Investment incomePrior year $219$250
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $311,941$326,031
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 $49,797$52,705
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $233,356$245,961
I-18 Total expensesPrior year $283,153$298,666
I-19 Revenue less expensesPrior year $28,788$27,365
Part VI · Governance 18 of 18 board members independent, 3 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $326,031 across 5 lines filed
VIII-1e Government grants$177,332
VIII-1h Total contributions, gifts and grants$177,332
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $148,449$148,449
VIII-3 Investment incomeExcluded from tax $250$250
VIII-12 Total revenueRelated to mission $148,449 · Unrelated business $0 · Excluded from tax $250$326,031
Part IX · Statement of functional expenses $298,666 across 10 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $18,750 · Management $30,209$48,959
IX-10 Payroll taxesPrograms $1,435 · Management $2,311$3,746
IX-11a Management feesManagement $22,647$22,647
IX-11c Accounting feesManagement $8,650$8,650
IX-13 Office expensesManagement $3,341$3,341
IX-16 OccupancyPrograms $156,274$156,274
IX-20 InterestManagement $968$968
IX-22 Depreciation, depletion and amortizationPrograms $53,380$53,380
IX-23 InsurancePrograms $546$546
IX-24 Other expenses (24a–d)Programs $155$155
IX-25 Total functional expensesPrograms $230,540 · Management $68,126 · Fundraising $0$298,666
Part X · Balance sheet $513,254 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $1,973$3,822
X-2 Savings and temporary cash investmentsStart of year $27,618$37,715
X-9 Prepaid expenses and deferred chargesStart of year $10,499$11,583
X-10c Land, buildings and equipment, netStart of year $473,217$460,134
X-16 Total assetsStart of year $513,307$513,254
X-17 Accounts payable and accrued expensesStart of year $62,679$75,098
X-25 Other liabilitiesStart of year $11,644$11,899
X-26 Total liabilitiesStart of year $983,564$956,146
X-27 Net assets without donor restrictionsStart of year −$470,257−$442,892
X-32 Total net assets or fund balancesStart of year −$470,257−$442,892
X-33 Total liabilities and net assetsStart of year $513,307$513,254
Part XI · Reconciliation of net assets −$442,892 net assets at year end
XI-1 Total revenue$326,031
XI-2 Total expenses$298,666
XI-3 Revenue less expenses$27,365
XI-4 Net assets at start of year−$470,257
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$442,892

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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