Poco Realty Development Corporation FY2023 filing

Not tax-deductible

Middleburg, VAMutual-benefit / member-servingCommunity Development EIN 54-1917370Revenue $7K in FY2023

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.

$136K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2023 · 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
Pay to officers and key staff
$136K
to officers and key staff · 77% of spending
Concern: pay to officers and key staff is 77% of spending; over 30%.
Pt VII · Sec A
22 mo
of spending, in cash
Looks good: 21.9 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
$7K
+181% vs prior year
Spent
$177K
Net assets
$324K
By yearFY2020–FY2024
Revenue
$7K
FY2023▲ +181%
Tap a bar for its year
Revenue by fiscal year
FY2020$16K
FY2021$2K
FY2022$2K
FY2023$7K
FY2024$2K
Expenses
$177K
FY2023▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$149K
FY2021$186K
FY2022$169K
FY2023$177K
FY2024$178K
Net assets
$324K
FY2023▼ -29%
Tap a bar for its year
Net assets by fiscal year
FY2020$786K
FY2021$621K
FY2022$455K
FY2023$324K
FY2024$218K

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 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

5 people listed on the 990; $136K paid to officers and key staff.

Part VII, Section A · reportable compensation
Administrator
$136,100Pt VII · Sec A
$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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1 program · in their own filed words · FY2023
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 FY2023 990, line by line.

1The main four
Money inPt VIII
$7K
Ln 12
Investment incomeLn 3$7K
Money outPt IX
$177K
Ln 25
Owns and owesPt X
$324K
net assets · Ln 32
Cash and savingsLn 1–2$324K
Total assetsLn 16$324K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a4
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$7K
Total revenueLn 12$7K
Assets in detailPt X, end of year
CashLn 1$24K
SavingsLn 2$300K
Cash and savings togetherLn 1–2$324K
Other assetsLn 15$0
Total assetsLn 16$324K
LiabilitiesLn 26$0
Net assetsLn 32$324K
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 FY23End FY23
Cash and savingsLn 1–2$455K$324K
Total assetsLn 16$455K$324K
LiabilitiesLn 26$0$0
Net assetsLn 32$455K$324K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$136K
Payroll taxesLn 10$10K
Legal feesLn 11b$25
Accounting feesLn 11c$4K
Office expensesLn 13$21K
Information technologyLn 14$1K
OccupancyLn 16$4K
Other expenses (24a–d)Ln 24$149
Total functional expensesLn 25$177K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2K$178K−$176K$218K 990 PDF
FY2023 Viewing $7K$177K−$170K$324K 990 PDF
FY2022 $2K$169K−$167K$455K 990 PDF
FY2021 $2K$186K−$184K$621K 990 PDF
FY2020 $16K$149K−$133K$786K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $6,874 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 $2,444$6,874
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,444$6,874
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 $135,271$145,986
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $33,951$31,326
I-18 Total expensesPrior year $169,222$177,312
I-19 Revenue less expensesPrior year −$166,778−$170,438
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 $6,874 across 2 lines filed
VIII-3 Investment incomeExcluded from tax $6,874$6,874
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $6,874$6,874
Part IX · Statement of functional expenses $177,312 across 8 lines filed
IX-7 Other salaries and wages$136,100
IX-10 Payroll taxes$9,886
IX-11b Legal fees$25
IX-11c Accounting fees$4,439
IX-13 Office expenses$21,347
IX-14 Information technology$1,490
IX-16 Occupancy$3,876
IX-24 Other expenses (24a–d)$149
IX-25 Total functional expenses$177,312
Part X · Balance sheet $324,194 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $91,759$24,450
X-2 Savings and temporary cash investmentsStart of year $362,873$299,744
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $454,632$324,194
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $454,632$324,194
X-33 Total liabilities and net assetsStart of year $454,632$324,194
Part XI · Reconciliation of net assets $324,194 net assets at year end
XI-1 Total revenue$6,874
XI-2 Total expenses$177,312
XI-3 Revenue less expenses−$170,438
XI-4 Net assets at start of year$454,632
XI-9 Other changes in net assets$40,000
XI-10 Net assets at end of year$324,194

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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