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Partnership Homes INC FY2020 filing

Tax-deductible

Greensboro, NC501(c)(3)Housing EIN 56-2071035Revenue $483K in FY2020

On file with the IRS1031 Summit Avenue 1e-1, 27405-7011 · Greensboro, NCTax-exempt since Oct 1998Publicly supported charity — 170(b)(1)(A)(vi)

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Development and operation of affordable housing.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
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
1 of 5
filings with a surplus
Average deficit $141K a year · 17% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3.3M
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$483K
Spent
$634K
To programs
98%
Net assets
$664K
By yearFY2020–FY2024
Revenue
$483K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$483K
FY2021$591K
FY2022$1.1M
FY2023$921K
FY2024$1.1M
Expenses
$634K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$634K
FY2021$724K
FY2022$1.2M
FY2023$1.2M
FY2024$1.1M
Net assets
$664K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$664K
FY2021$531K
FY2022$351K
FY2023$47K
FY2024$98K

From the FY2020 Form 990 · figures checked against the IRS filing · 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 Oct 1998.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $620K Management & general 2% · $14K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
Mike Cooke
President
$0Pt VII · Sec A
Jim Clontz
Chairman
$0Pt VII · Sec A
Ramona Carl
Secretary
$0Pt VII · Sec A
Keith Burris
Treasurer
$0Pt VII · Sec A
William Cooke
Board Member
$0Pt VII · Sec A
Judy Newlin
Board Member
$0Pt VII · Sec A
Mark Sumerford
Asst. Secretary
$0Pt VII · Sec A
Joe Thompson
Board Member
$0Pt VII · Sec A
See Partnership Homes 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

Builds and manages affordable homes for people in need.

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Provided by the organization

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3 programs · $322K · in their own filed words · FY2020
01

Own and operate a 32 unit apartment complex for formerly homeless individuals known as partnership village I.

$158Kprogram expense
02

Own and operate a 12 unit apartment complex for formerly homeless families known as partnership village iii.

$110Kprogram expense
03

Development of affordable housing for formerly homeless individuals and families and those threatened with homelessness.

$54Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Kimley-Horn FoundationFY2024$2K
Total grants receivedfrom 1 funder$2K

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$483K
Ln 12
Fees for servicesLn 2g$482K
Investment incomeLn 3$524
Other incomeLn 4–11$326
Money outPt IX
$634K
Ln 25
Programscol B$620K
Managementcol C$14K
Owns and owesPt X
$664K
net assets · Ln 32
Cash and savingsLn 1–2$99K
Total assetsLn 16$4.0M
LiabilitiesLn 26$3.3M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$482K
Investment incomeLn 3$524
Other incomeLn 4–11$326
Total revenueLn 12$483K
Assets in detailPt X, end of year
CashLn 1$99K
Cash and savings togetherLn 1–2$99K
Land, buildings, equipmentLn 10c$3.3M
Other assetsLn 15$536K
Total assetsLn 16$4.0M
LiabilitiesLn 26$3.3M
Net assetsLn 32$664K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$104K$99K
Land, buildings, equipmentLn 10c$3.4M$3.3M
Total assetsLn 16$4.0M$4.0M
LiabilitiesLn 26$3.2M$3.3M
Net assetsLn 32$815K$664K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$57K$57K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$14K$14K
Office expensesLn 13$24K$24K
OccupancyLn 16$126K$126K
Depreciation, depletion and amortizationLn 22$116K$116K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$288K$288K
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$634K$620K$14K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.1M$1.1M$51K$98K 990 PDF
FY2023 $921K$1.2M−$304K$47K 990 PDF
FY2022 $1.1M$1.2M−$168K$351K 990 PDF
FY2021 $591K$724K−$133K$531K 990 PDF
FY2020 Viewing $483K$634K−$151K$664K 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 FY2020 990 (6 parts)
Part I · Summary $483,027 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $470,047$482,177
I-10 Investment incomePrior year $377$524
I-11 Other revenuePrior year $7,864$326
I-12 Total revenuePrior year $478,288$483,027
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 $615,056$633,709
I-18 Total expensesPrior year $615,056$633,709
I-19 Revenue less expensesPrior year −$136,768−$150,682
Part VI · Governance 10 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
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-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $483,027 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $482,177$482,177
VIII-3 Investment incomeExcluded from tax $524$524
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $326$326
VIII-12 Total revenueRelated to mission $482,503 · Unrelated business $0 · Excluded from tax $524$483,027
Part IX · Statement of functional expenses $633,709 across 9 lines filed
IX-11a Management feesPrograms $57,435$57,435
IX-11b Legal feesPrograms $1,344$1,344
IX-11c Accounting feesManagement $13,875$13,875
IX-13 Office expensesPrograms $24,013$24,013
IX-16 OccupancyPrograms $126,428$126,428
IX-22 Depreciation, depletion and amortizationPrograms $116,247$116,247
IX-23 InsurancePrograms $4,160$4,160
IX-24 Other expenses (24a–d)Programs $287,904$287,904
IX-24e All other expensesPrograms $2,303$2,303
IX-25 Total functional expensesPrograms $619,834 · Management $13,875 · Fundraising $0$633,709
Part X · Balance sheet $3,977,351 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $104,396$98,975
X-4 Accounts receivableStart of year $7,581$5,609
X-9 Prepaid expenses and deferred chargesStart of year $15,226$16,020
X-10c Land, buildings and equipment, netStart of year $3,425,535$3,310,350
X-14 Intangible assetsStart of year $11,827$10,764
X-15 Other assetsStart of year $460,719$535,633
X-16 Total assetsStart of year $4,025,284$3,977,351
X-17 Accounts payable and accrued expensesStart of year $4,726$41,525
X-19 Deferred revenue$3,615
X-25 Other liabilitiesStart of year $16,764$81,310
X-26 Total liabilitiesStart of year $3,210,537$3,313,286
X-27 Net assets without donor restrictionsStart of year $814,747$664,065
X-32 Total net assets or fund balancesStart of year $814,747$664,065
X-33 Total liabilities and net assetsStart of year $4,025,284$3,977,351
Part XI · Reconciliation of net assets $664,065 net assets at year end
XI-1 Total revenue$483,027
XI-2 Total expenses$633,709
XI-3 Revenue less expenses−$150,682
XI-4 Net assets at start of year$814,747
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$664,065

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

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