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Beacon Light Community Housing Development INC

Tax-deductible

Norfolk, VA501(c)(3)HousingEIN 54-1923208Revenue $6K in FY2023

On file with the IRSPo Box 4683, 23523-0683 · Norfolk, VATax-exempt since Jun 1999Publicly supported charity — 170(b)(1)(A)(vi)

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To bring together at frequent intervals, families of low to moderate income who qualify for and are interested in becoming first time homebuyers, and others that might be interested in purchasing properties for rehabilitation. To work with norfolk redevelopment and Housing authority homenet office in referring callers interested in homebuying. To promote the revitalization of our Community and good citizenship among the people that live in the city of norfolk.

501(c)(3) charity; gifts are tax-deductible.
Run by 1 volunteers and 1 employee.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2023 · 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
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $4K a year · 11% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.3 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
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6K
-88% vs prior year
Spent
$10K
To programs
0%
Net assets
$204K
By yearFY2020–FY2023
Revenue
$6K
FY2023▼ -88%
Tap a bar for its year
Revenue by fiscal year
FY2020$8K
FY2021$87K
FY2022$52K
FY2023$6K
Expenses
$10K
FY2023▼ -81%
Tap a bar for its year
Expenses by fiscal year
FY2020$39K
FY2021$68K
FY2022$53K
FY2023$10K
Net assets
$204K
FY2023▼ -12%
Tap a bar for its year
Net assets by fiscal year
FY2020$214K
FY2021$233K
FY2022$232K
FY2023$204K

From the FY2023 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Jun 1999.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $10K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
Frederick Basnight
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Shannel Lundy
Secretary
$0Pt VII · Sec A
Robert Mustafa
Board Member
$0Pt VII · Sec A
Marsha Dandridge
Board Member
$0Pt VII · Sec A
Anthony Daniels
Board Members
$0Pt VII · Sec A
See Beacon Light Community Housing Development 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

Connects low-income families with resources and guidance to become first-time homeowners and revitalize communities.

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Provided by the organization

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1 program · in their own filed words · FY2023
01

To assist low to moderate income families who qualify and are interested in first time homeownership.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$6K
Ln 12
Fees for servicesLn 2g$6K
Money outPt IX
$10K
Ln 25
Managementcol C$10K
Owns and owesPt X
$204K
net assets · Ln 32
Cash and savingsLn 1–2$3K
Total assetsLn 16$204K
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$6K
Total revenueLn 12$6K
Assets in detailPt X, end of year
CashLn 1$3K
Cash and savings togetherLn 1–2$3K
Land, buildings, equipmentLn 10c$201K
Other assetsLn 15$0
Total assetsLn 16$204K
LiabilitiesLn 26$0
Net assetsLn 32$204K
OperationsPt I, VI
EmployeesI 51
VolunteersI 61
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$28K$3K
Land, buildings, equipmentLn 10c$233K$201K
Total assetsLn 16$262K$204K
LiabilitiesLn 26$0$0
Net assetsLn 32$262K$204K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other expenses (24a–d)Ln 24$10K$0$10K$0
Total functional expensesLn 25$10K$0$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $6K$10K−$4K$204K 990 PDF
FY2022 $52K$53K−$2K$232K 990 PDF
FY2021 $87K$68K$19K$233K 990 PDF
FY2020 $8K$39K−$31K$214K 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 $6,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $45,561$0
I-9 Program service revenuePrior year $6,000$6,000
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $51,561$6,000
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 $23,667$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $29,644$10,109
I-18 Total expensesPrior year $53,311$10,109
I-19 Revenue less expensesPrior year −$1,750−$4,109
Part VI · Governance 6 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $6,000 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,000$6,000
VIII-12 Total revenueRelated to mission $6,000 · Unrelated business $0 · Excluded from tax $0$6,000
Part IX · Statement of functional expenses $10,109 across 1 line filed
IX-24 Other expenses (24a–d)Programs $0 · Management $10,109 · Fundraising $0$10,109
IX-25 Total functional expensesPrograms $0 · Management $10,109 · Fundraising $0$10,109
Part X · Balance sheet $204,053 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $28,127$2,752
X-9 Prepaid expenses and deferred chargesStart of year $400$400
X-10c Land, buildings and equipment, netStart of year $233,304$200,901
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $261,831$204,053
X-17 Accounts payable and accrued expensesStart of year $0$0
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $261,831$204,053
X-32 Total net assets or fund balancesStart of year $261,831$204,053
X-33 Total liabilities and net assetsStart of year $261,831$204,053
Part XI · Reconciliation of net assets $204,053 net assets at year end
XI-1 Total revenue$6,000
XI-2 Total expenses$10,109
XI-3 Revenue less expenses−$4,109
XI-4 Net assets at start of year$261,831
XI-10 Net assets at end of year$204,053

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

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