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Procap Housing INC EIN 54-2078482 Form 990 (PDF) Claim this org

Procap Housing INC

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Provides affordable housing for handicapped individuals. For fiscal year 2024 it reported $160K in revenue, $253K in expenses, and $-868K in net assets.Pt I

Founded
2000
Type
Public charity (501(c)(3)) · Housing
Location
Providence, RI
Filings
5 on file (2020–2024)
Revenue
$160KFY2024
Expenses
$253K
Net assets
$-868K
People
4
Filings
5
Updates
0
More identity details & actions ⌄
EIN  54-2078482 Public charity (501(c)(3)) Providence, RI Founded 2000
Form 990 (PDF)
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Size
$100K–1M
What they do
Provides affordable housing for handicapped individuals.
Leadership
Thomas S Hemmendinger · Director, Receiver, and Se
Money in and out
$160K revenue, $253K expenses
Bottom line
84% program efficiency
Where the money goes · FY2024
Total revenue
$160K
Pt VIII · Ln 12
Total expenses
$253K
Pt IX · Ln 25
Net assets
$-868K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$93K
Where spending went · Part IX cols B–D
Program services $0.84 Management & general $0.16
Program efficiency
84%
of spending reaches programs▲ +4% vs prior filing year
Operating runway
0.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
-58%
revenue over expenses, this year▲ +7% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$160K
FY2024▲ +8%
Expenses
$253K
FY2024▲ +5%
Total assets
$1.2M
FY2024▼ -8%
Total liabilities
$2.0M
FY2024▼ -0.7%
Total revenue
$160K
Pt VIII · Ln 12
Total expenses
$253K
Pt IX · Ln 25
Net assets
$-868K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$93K
Total assetsPt X · Ln 16$1.2M
Program-expense ratioPt IX · col B84%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProcap Housing INC
EINHdr · item D54-2078482
Principal addressHdr · item CProvidence, RI
WebsiteHdr · item Jnone reported
Year of formationHdr · item L2000
State of legal domicileHdr · item MRI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L21)
Ruling yearIRS BMFMay 2003

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a3
Independent voting membersPt VI · Ln 1b3
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
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
Thomas S Hemmendinger
Director, Receiver, and Se
$0Pt VII · Sec A
Jeffrey Dana
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $212K of program spending, described in the organization's own filed words · FY2024.
01

Providing low income housing for handicapped individuals.

$212Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue100%$159K
Investment income$432
Other revenue$216
Total revenueLn 12$160K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.84 Management & general $0.16
Program services84%$212K
Management & general16%$41K
Total functional expensesLn 25$253K

Balance Sheet

Part X · end of year
CashLn 1$783
Total assetsLn 16$1.2M
Total liabilitiesLn 26$2.0M
Total net assetsLn 32$-868K
Months of cash on handcomputed0.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $783 · Operating expenses/yr $253K
0.0 months
Where the money goes
Program services
Program services $212K · Total expenses $253K
84%
Management & General
Management & general $41K · Total expenses $253K
16%
Fundraising
Fundraising $0 · Total expenses $253K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $160K
0%
Government reliance
Government grants — · Total revenue $160K
—
Earned-income share
Program service revenue $159K · Total revenue $160K
100%
Investment reliance
Investment income $432 · Total revenue $160K
+0.3%
Program self-sufficiency
Program service revenue $159K · Total expenses $253K
63%
Growth & trend
Revenue growth (YoY)
This year $160K · Prior year $148K
+8%
Revenue CAGR
FY2019 $156K · FY2024 $160K
+0.5%
Net-asset trend (YoY)
End of year $-868K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $160K · Expenses $253K
-58%
Liabilities-to-Assets
Total liabilities — · Total assets $1.2M
—
Net-asset ratio
Net assets $-868K · Total assets $1.2M
-74%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.2M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Thomas S Hemmendinger · Reported title DIRECTOR, RECEIVER, AND SE · Highest reported compensation $0 · Total expenses $253K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $253K
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 84%——
Overhead ratio 16%——
Revenue growth 8%——

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.

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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$148K revenue · ⤓ 990 PDF
FY2023$154K revenue · ⤓ 990 PDF
FY2022$155K revenue · ⤓ 990 PDF
FY2021$155K revenue · ⤓ 990 PDF
FY2020$156K 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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