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Homes for Laurel INC FY2021 filing

Tax-deductible

Annapolismd, MD501(c)(3)Human ServicesEIN 52-2258799Revenue $175K in FY2021

On file with the IRShomesforamerica.org175 Admiral Cochrane Dr, 21401-7316 · Annapolismd, MDTax-exempt since Sep 2000Publicly supported — 509(a)(2)

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Please see schedule ohomes for Laurel, INC. Was incorporated for the purpose of developing and preserving housing for low income and moderate income elderly.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
0 of 6
filings with a surplus
Average deficit $46K a year · 26% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.0M
149% of total assets
Concern: liabilities are 149% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 9 voting members
Worth a look: 4 of 9 voting members are independent, under half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$175K
+4% vs prior year
Spent
$203K
To programs
90%
Net assets
−$668K
By yearFY2020–FY2025
Revenue
$175K
FY2021▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$167K
FY2021$175K
FY2022$187K
FY2023$184K
FY2024$184K
FY2025$190K
Expenses
$203K
FY2021▼ -4%
Tap a bar for its year
Expenses by fiscal year
FY2020$211K
FY2021$203K
FY2022$241K
FY2023$252K
FY2024$223K
FY2025$234K
Net assets
−$668K
FY2021▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020−$640K
FY2021−$668K
FY2022−$723K
FY2023−$791K
FY2024−$830K
FY2025−$873K

From the FY2021 Form 990 (year ending March 2021) · see the original

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You’re viewing the FY2021 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 Sep 2000.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $183K Management & general 10% · $20K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Nancy S Rase
President & Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Lisa J Yaffe
Secretary/Treasurer & Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Diane Clyde
Director
$0Pt VII · Sec A
See Homes for Laurel 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 15aNo

Programs and updates

Develops and preserves housing for low and moderate-income seniors.

Questions for Homes for Laurel INC

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Provided by the organization

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1 program · $183K · in their own filed words · FY2020
01

21 units of housing serving senior citizens under section 202 of the federal housing act of 1959. Services, in addition to housing, include weekly continental breakfast, mobile grocery store, meals on wheels, on-site bus stop, computer lab, flu shot clinic, diabetic workshops, wellness education opportunities, walking club and lending…

$183Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$175K
Ln 12
Fees for servicesLn 2g$167K
Other incomeLn 4–11$8K
Investment incomeLn 3$22
Money outPt IX
$203K
Ln 25
Programscol B$183K
Managementcol C$20K
Owns and owesPt X
−$668K
net assets · Ln 32
Cash and savingsLn 1–2$3K
Total assetsLn 16$1.4M
LiabilitiesLn 26$2.0M
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$167K
Investment incomeLn 3$22
Other incomeLn 4–11$8K
Total revenueLn 12$175K
Assets in detailPt X, end of year
CashLn 1$3K
Cash and savings togetherLn 1–2$3K
Land, buildings, equipmentLn 10c$1.1M
Other assetsLn 15$170K
Total assetsLn 16$1.4M
LiabilitiesLn 26$2.0M
Net assetsLn 32−$668K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderMarch
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 FY21End FY21
Cash and savingsLn 1–2$2K$3K
Land, buildings, equipmentLn 10c$1.2M$1.1M
Total assetsLn 16$1.4M$1.4M
LiabilitiesLn 26$2.0M$2.0M
Net assetsLn 32−$640K−$668K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$12K$12K
Legal feesLn 11b$113$113
Accounting feesLn 11c$8K$8K
Other fees for servicesLn 11g$120$120
Advertising and promotionLn 12$191$191
Office expensesLn 13$11K$11K
Depreciation, depletion and amortizationLn 22$48K$48K
InsuranceLn 23$5K$5K
Other expenses (24a–d)Ln 24$119K$119K
Total functional expensesLn 25$203K$183K$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $190K$234K−$44K−$873K 990 PDF
FY2024 $184K$223K−$39K−$830K 990 PDF
FY2023 $184K$252K−$68K−$791K 990 PDF
FY2022 $187K$241K−$54K−$723K 990 PDF
FY2021 Viewing $175K$203K−$29K−$668K 990 PDF
FY2020 $167K$211K−$44K−$640K 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 FY2021 990 (6 parts)
Part I · Summary $174,520 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $167,275$166,938
I-10 Investment incomePrior year $37$22
I-11 Other revenuePrior year $0$7,560
I-12 Total revenuePrior year $167,312$174,520
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $211,282$203,392
I-18 Total expensesPrior year $211,282$203,392
I-19 Revenue less expensesPrior year −$43,970−$28,872
Part VI · Governance 4 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members4
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $174,520 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $166,938$166,938
VIII-3 Investment incomeExcluded from tax $22$22
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $7,560$7,560
VIII-12 Total revenueRelated to mission $174,498 · Unrelated business $0 · Excluded from tax $22$174,520
Part IX · Statement of functional expenses $203,392 across 9 lines filed
IX-11a Management feesManagement $11,924$11,924
IX-11b Legal feesPrograms $113$113
IX-11c Accounting feesManagement $8,132$8,132
IX-11g Other fees for servicesPrograms $120$120
IX-12 Advertising and promotionPrograms $191$191
IX-13 Office expensesPrograms $10,792$10,792
IX-22 Depreciation, depletion and amortizationPrograms $47,697$47,697
IX-23 InsurancePrograms $4,939$4,939
IX-24 Other expenses (24a–d)Programs $119,484$119,484
IX-25 Total functional expensesPrograms $183,336 · Management $20,056 · Fundraising $0$203,392
Part X · Balance sheet $1,352,909 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,527$3,025
X-4 Accounts receivableStart of year $20,011$19,371
X-9 Prepaid expenses and deferred chargesStart of year $5,843$20,191
X-10c Land, buildings and equipment, netStart of year $1,188,339$1,140,642
X-15 Other assetsStart of year $174,155$169,680
X-16 Total assetsStart of year $1,389,875$1,352,909
X-17 Accounts payable and accrued expensesStart of year $24,170$15,764
X-19 Deferred revenueStart of year $487$855
X-25 Other liabilitiesStart of year $61,824$61,768
X-26 Total liabilitiesStart of year $2,029,397$2,021,303
X-27 Net assets without donor restrictionsStart of year −$639,522−$668,394
X-32 Total net assets or fund balancesStart of year −$639,522−$668,394
X-33 Total liabilities and net assetsStart of year $1,389,875$1,352,909
Part XI · Reconciliation of net assets −$668,394 net assets at year end
XI-1 Total revenue$174,520
XI-2 Total expenses$203,392
XI-3 Revenue less expenses−$28,872
XI-4 Net assets at start of year−$639,522
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$668,394

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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