Poco Realty Development Corporation FY2020 filing

Not tax-deductible

Middleburg, VAMutual-benefit / member-servingCommunity DevelopmentEIN 54-1917370Revenue $16K in FY2020

On file with the IRSPo Box 796, 20118-0796 · Middleburg, VATax-exempt since Nov 1999

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Acquiring, holding title to, and collecting income from real property and remitting such income (less expenses) to its shareholder.

Mission: Form 990 Part I, line 1

Before you give

FY2020 · 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
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
0 of 5
filings with a surplus
Average deficit $166K a year · 2825% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
63 mo
of spending, in cash
Looks good: 63.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
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 4 voting members
Concern: none of 4 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$16K
Spent
$149K
Net assets
$786K
By yearFY2020–FY2024
Revenue
$16K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$16K
FY2021$2K
FY2022$2K
FY2023$7K
FY2024$2K
Expenses
$149K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$149K
FY2021$186K
FY2022$169K
FY2023$177K
FY2024$178K
Net assets
$786K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$786K
FY2021$621K
FY2022$455K
FY2023$324K
FY2024$218K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 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 Nov 1999.

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Lisa a Winters’s $138K as Administrator is at the 98th percentile of top reported officer pay among 168 <$100K 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021
Lisa a Winters$137,600$136,100$125,100$135,100

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Acquires and manages real estate, sending rental income to its shareholder.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Income was collected from real estate owned by the corporation and associated expenses were paid by the corporation. The remaining funds were distributed to the sole shareholder.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$16K
Ln 12
Investment incomeLn 3$16K
Money outPt IX
$149K
Ln 25
Owns and owesPt X
$786K
net assets · Ln 32
Cash and savingsLn 1–2$786K
Total assetsLn 16$786K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$16K
Gains on assetsLn 7$12K
Total revenueLn 12$16K
Assets in detailPt X, end of year
CashLn 1$380K
SavingsLn 2$406K
Cash and savings togetherLn 1–2$786K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$786K
LiabilitiesLn 26$0
Net assetsLn 32$786K
OperationsPt I, VI
EmployeesI 51
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 FY20End FY20
Cash and savingsLn 1–2$600K$786K
Land, buildings, equipmentLn 10c$269K$0
Total assetsLn 16$869K$786K
LiabilitiesLn 26$1K$0
Net assetsLn 32$868K$786K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$50K
Payroll taxesLn 10$3K
Legal feesLn 11b$525
Accounting feesLn 11c$4K
Office expensesLn 13$17K
Information technologyLn 14$2K
OccupancyLn 16$65K
Depreciation, depletion and amortizationLn 22$2K
InsuranceLn 23$429
Other expenses (24a–d)Ln 24$5K
Total functional expensesLn 25$149K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2K$178K−$176K$218K 990 PDF
FY2023 $7K$177K−$170K$324K 990 PDF
FY2022 $2K$169K−$167K$455K 990 PDF
FY2021 $2K$186K−$184K$621K 990 PDF
FY2020 Viewing $16K$149K−$133K$786K 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 FY2020 990 (6 parts)
Part I · Summary $15,832 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $11,012$15,832
I-11 Other revenuePrior year $11,900$0
I-12 Total revenuePrior year $22,912$15,832
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 $102,740$52,979
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $34,945$95,624
I-18 Total expensesPrior year $137,685$148,603
I-19 Revenue less expensesPrior year −$114,773−$132,771
Part VI · Governance 0 of 4 board members independent, 5 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $15,832 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $4,299$4,299
VIII-7 Net gain or loss on sales of assetsExcluded from tax $11,533$11,533
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $15,832$15,832
Part IX · Statement of functional expenses $148,603 across 10 lines filed
IX-7 Other salaries and wages$50,382
IX-10 Payroll taxes$2,597
IX-11b Legal fees$525
IX-11c Accounting fees$4,139
IX-13 Office expenses$16,873
IX-14 Information technology$1,554
IX-16 Occupancy$64,567
IX-22 Depreciation, depletion and amortization$2,164
IX-23 Insurance$429
IX-24 Other expenses (24a–d)$5,373
IX-25 Total functional expenses$148,603
Part X · Balance sheet $785,552 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $44,050$379,865
X-2 Savings and temporary cash investmentsStart of year $556,035$405,687
X-10c Land, buildings and equipment, netStart of year $269,238$0
X-15 Other assets$0
X-16 Total assetsStart of year $869,323$785,552
X-25 Other liabilitiesStart of year $1,000$0
X-26 Total liabilitiesStart of year $1,000$0
X-32 Total net assets or fund balancesStart of year $868,323$785,552
X-33 Total liabilities and net assetsStart of year $869,323$785,552
Part XI · Reconciliation of net assets $785,552 net assets at year end
XI-1 Total revenue$15,832
XI-2 Total expenses$148,603
XI-3 Revenue less expenses−$132,771
XI-4 Net assets at start of year$868,323
XI-9 Other changes in net assets$50,000
XI-10 Net assets at end of year$785,552

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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