Unity Properties INC EIN 52-1857768

Unity Properties INC

EIN  52-1857768 Public charity (501(c)(3)) Baltimore, MD Founded 1993
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 9/2/26 · see original filing: IRS
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Size
$1–10M
What they do
Develops and manages affordable housing while transforming vacant lots into community spaces to revitalize neighborhoods for low- and moderate-income families and seniors.
Leadership
Alicia Corson · Director, Housing & Community Development · $133K
Money in and out
$2.4M revenue, $3.6M expenses
Bottom line
92% program efficiency

Develops and manages affordable housing while transforming vacant lots into community spaces to revitalize neighborhoods for low- and moderate-income families and seniors. For fiscal year 2024 it reported $2.4M in revenue, $3.6M in expenses, and $38.7M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$2.4M
Pt VIII · Ln 12
Total expenses
$3.6M
Pt IX · Ln 25
Net assets
$38.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$1.2M
Where spending went · Part IX cols B–D
Program services $0.92 Management & general $0.08
Program efficiency
92%
of spending reaches programs▲ +2% vs prior filing year
Operating runway
79.8mo
months of highly liquid reserves at operating expense rate▼ -17% vs prior filing year
Surplus margin
-50%
revenue over expenses, this year▲ +43% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$2.4M
FY2024▲ +35%
Expenses
$3.6M
FY2024▲ +8%
Total assets
$42.8M
FY2024▼ -4%
Total liabilities
$4.0M
FY2024▲ +1%
Total revenue
$2.4M
Pt VIII · Ln 12
Total expenses
$3.6M
Pt IX · Ln 25
Net assets
$38.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$1.2M
Total assetsPt X · Ln 16$42.8M
Program-expense ratioPt IX · col B92%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service account for $3.3M of program spending, described in the organization's own filed words · FY2024.
01

The housing and neighborhood revitalization program supports initiatives designed to sustain strong, stable and thriving neighborhoods. Under this program Bon Secours has developed and now owns and operates five senior housing buildings, two family housing buildings and four developments of scattered site family rental housing.

$3.3Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CUnity Properties INC
EINHdr · item D52-1857768
Principal addressHdr · item CBaltimore, MD
WebsiteHdr · item Jnone reported
Year of formationHdr · item L1993
State of legal domicileHdr · item MMD
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L20Z)
Ruling yearIRS BMFMar 1995

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Director, Housing & Community Development
$132,961Pt VII · Sec A
Program Mgr Community Design & Engagement
$100,735Pt VII · Sec A
Chief Population Health Officer
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member (beg 01/24)
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2021FY2020
George Kleb$176,704$157,442
Alicia Corson$132,961$125,943
Lisa Stachura$110,812
Lynn Johnson$100,735

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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Statement of Revenue

Part VIII
Contributions & grants$1.4M · 58%
Investment income$752K · 32%
Program service revenue$258K · 11%
Contributions & grants58%$1.4M
Investment income32%$752K
Program service revenue11%$258K
Total revenueLn 12$2.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.92 Management & general $0.08
Program services92%$3.3M
Management & general8%$289K
Total functional expensesLn 25$3.6M

Balance Sheet

Part X · end of year
CashLn 1$3.3M
Total assetsLn 16$42.8M
Total liabilitiesLn 26$4.0M
Total net assetsLn 32$38.7M
Months of cash on handcomputed11.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $23.8M · Operating expenses/yr $3.6M
79.8 months
Where the money goes
Program services
Program services $3.3M · Total expenses $3.6M
92%
Management & General
Management & general $289K · Total expenses $3.6M
8%
Fundraising
Fundraising $0 · Total expenses $3.6M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $2.4M
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $1.4M · Total revenue $2.4M
58%
Government reliance
Government grants — · Total revenue $2.4M
Earned-income share
Program service revenue $258K · Total revenue $2.4M
11%
Investment reliance
Investment income $752K · Total revenue $2.4M
+32%
Program self-sufficiency
Program service revenue $258K · Total expenses $3.6M
7%
Growth & trend
Revenue growth (YoY)
This year $2.4M · Prior year $1.8M
+35%
Revenue CAGR
FY2019 $1.0M · FY2024 $2.4M
+18%
Net-asset trend (YoY)
End of year $38.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $2.4M · Expenses $3.6M
-50%
Liabilities-to-Assets
Total liabilities — · Total assets $42.8M
Net-asset ratio
Net assets $38.7M · Total assets $42.8M
91%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) $20.5M · Total assets (Pt X, ln 16) $42.8M
48%
People & payroll
Highest Reported Total Compensation
Individual Alicia Corson · Reported title Director, Housing & Community Development · Highest reported compensation $133K · Total expenses $3.6M
4%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.0M · Total expenses $3.6M
29%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 92%
Overhead ratio 8%
Fundraising cost ratio 0%
Revenue growth 35%
Legal fee ratio 1%

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.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$82K

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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)$2.4M revenue · viewing · ⤓ 990 PDF
FY2023$1.8M revenue · ⤓ 990 PDF
FY2022$6.2M revenue · ⤓ 990 PDF
FY2021$365K revenue · ⤓ 990 PDF
FY2020$1.0M 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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