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Providence Place V FY2021 filing

Tax-deductible

Southern Pnes, NC501(c)(3)Arts & CultureEIN 56-2198190Revenue $178K in FY2021

On file with the IRS100 Gossman Rd Ste B, 28387-2282 · Southern Pnes, NCTax-exempt since Feb 2001Publicly supported — 509(a)(2)

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Operate 31 unit apartment complex for elderly and disabled.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $38K a year · 18% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.3M
215% of total assets
Concern: liabilities are 215% of assets; over 80%.
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
$178K
+3% vs prior year
Spent
$238K
To programs
96%
Net assets
−$1.2M
By yearFY2020–FY2025
Revenue
$178K
FY2021▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$174K
FY2021$178K
FY2022$193K
FY2023$212K
FY2024$217K
FY2025$266K
Expenses
$238K
FY2021▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2020$216K
FY2021$238K
FY2022$245K
FY2023$229K
FY2024$240K
FY2025$298K
Net assets
−$1.2M
FY2021▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020−$1.2M
FY2021−$1.2M
FY2022−$1.3M
FY2023−$1.3M
FY2024−$1.3M
FY2025−$1.4M

From the FY2021 Form 990 (year ending September 2021) · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2001.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $230K Management & general 4% · $8K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Jennifer King
Board Member
$0Pt VII · Sec A
Kathryn Grenier
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Wilson Ray
Board Member
$0Pt VII · Sec A
Judy Dial
Board Member
$0Pt VII · Sec A
Scott Brewton
Board Member
$0Pt VII · Sec A
See Providence Place V 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

Provides housing in a 31-unit apartment complex for elderly and disabled individuals.

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Provided by the organization

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1 program · $230K · in their own filed words · FY2020
01

Operate 31 unit apartment complex for elderly and disabled.

$230Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$178K
Ln 12
Fees for servicesLn 2g$89K
Gifts and grantsLn 1h$89K
Investment incomeLn 3$267
Money outPt IX
$238K
Ln 25
Programscol B$230K
Managementcol C$8K
Owns and owesPt X
−$1.2M
net assets · Ln 32
Cash and savingsLn 1–2$71K
Total assetsLn 16$1.1M
LiabilitiesLn 26$2.3M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$89K
Government grantsLn 1e$89K
Fees for servicesLn 2g$89K
Investment incomeLn 3$267
Total revenueLn 12$178K
Assets in detailPt X, end of year
CashLn 1$5K
SavingsLn 2$66K
Cash and savings togetherLn 1–2$71K
Land, buildings, equipmentLn 10c$988K
Other assetsLn 15$9K
Total assetsLn 16$1.1M
LiabilitiesLn 26$2.3M
Net assetsLn 32−$1.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderSeptember
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 FY21End FY21
Cash and savingsLn 1–2$88K$71K
Land, buildings, equipmentLn 10c$1.0M$988K
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$2.3M$2.3M
Net assetsLn 32−$1.2M−$1.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$24K$24K
Legal feesLn 11b$126$126
Accounting feesLn 11c$7K$7K
Advertising and promotionLn 12$261$261
Office expensesLn 13$4K$4K
OccupancyLn 16$27K$27K
Depreciation, depletion and amortizationLn 22$41K$41K
InsuranceLn 23$8K$8K
Other expenses (24a–d)Ln 24$92K$92K
All other expensesLn 24e$36K$34K$1K
Total functional expensesLn 25$238K$230K$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $266K$298K−$32K−$1.4M 990 PDF
FY2024 $217K$240K−$23K−$1.3M 990 PDF
FY2023 $212K$229K−$17K−$1.3M 990 PDF
FY2022 $193K$245K−$52K−$1.3M 990 PDF
FY2021 Viewing $178K$238K−$60K−$1.2M 990 PDF
FY2020 $174K$216K−$42K−$1.2M 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 FY2021 990 (6 parts)
Part I · Summary $178,344 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $87,708$89,026
I-9 Program service revenuePrior year $85,893$89,051
I-10 Investment incomePrior year $289$267
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $173,890$178,344
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 $216,215$238,453
I-18 Total expensesPrior year $216,215$238,453
I-19 Revenue less expensesPrior year −$42,325−$60,109
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 $178,344 across 5 lines filed
VIII-1e Government grants$89,026
VIII-1h Total contributions, gifts and grants$89,026
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $89,051$89,051
VIII-3 Investment incomeExcluded from tax $267$267
VIII-12 Total revenueRelated to mission $89,051 · Unrelated business $0 · Excluded from tax $267$178,344
Part IX · Statement of functional expenses $238,453 across 10 lines filed
IX-11a Management feesPrograms $24,219$24,219
IX-11b Legal feesPrograms $126$126
IX-11c Accounting feesManagement $7,232$7,232
IX-12 Advertising and promotionPrograms $261$261
IX-13 Office expensesPrograms $3,626$3,626
IX-16 OccupancyPrograms $26,839$26,839
IX-22 Depreciation, depletion and amortizationPrograms $40,557$40,557
IX-23 InsurancePrograms $7,666$7,666
IX-24 Other expenses (24a–d)Programs $92,381$92,381
IX-24e All other expensesPrograms $34,301 · Management $1,245$35,546
IX-25 Total functional expensesPrograms $229,976 · Management $8,477 · Fundraising $0$238,453
Part X · Balance sheet $1,078,575 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $2,883$4,872
X-2 Savings and temporary cash investmentsStart of year $84,861$65,938
X-4 Accounts receivableStart of year $1,192$10,495
X-10c Land, buildings and equipment, netStart of year $1,028,471$987,914
X-15 Other assetsStart of year $8,856$9,356
X-16 Total assetsStart of year $1,126,263$1,078,575
X-17 Accounts payable and accrued expensesStart of year $11,599$24,490
X-19 Deferred revenueStart of year $1,130$0
X-25 Other liabilitiesStart of year $8,797$9,457
X-26 Total liabilitiesStart of year $2,303,626$2,316,047
X-27 Net assets without donor restrictionsStart of year −$1,177,363−$1,237,472
X-32 Total net assets or fund balancesStart of year −$1,177,363−$1,237,472
X-33 Total liabilities and net assetsStart of year $1,126,263$1,078,575
Part XI · Reconciliation of net assets −$1,237,472 net assets at year end
XI-1 Total revenue$178,344
XI-2 Total expenses$238,453
XI-3 Revenue less expenses−$60,109
XI-4 Net assets at start of year−$1,177,363
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,237,472

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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