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Croft House INC

Tax-deductible

Greenville, SC501(c)(3)EIN 57-0640593Revenue $1.1M in FY2025

On file with the IRS325 Rocky Slope Rd Ste 301, 29607-7817 · Greenville, SCTax-exempt since Jun 1977Publicly supported — 509(a)(2)

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Croft House, INC. (the "corporation") is a not-for-profit corporation formed in accordance with the not-for-profit statutes of the state of south carolina. The corporation was formed for the purpose of operating a 60 unit community known as Croft House (the "property") located in aiken, south carolina, which provides housing for low-income elderly persons, under section 207 pursuant to section 223(f) of the national housing act, as amended.

501(c)(3) charity; gifts are tax-deductible.
72¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · 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
4 of 5
filings with a surplus
Average surplus $61K a year · 6% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
72%
of spending
Fine: 72% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.6M
213% of total assets
Concern: liabilities are 213% of assets; over 80%.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.1M
+0.2% vs prior year
Spent
$1.0M
To programs
72%
Net assets
−$865K
By yearFY2021–FY2025
Revenue
$1.1M
FY2025+0.2%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.1M
FY2022$1.0M
FY2023$1.0M
FY2024$1.1M
FY2025$1.1M
Expenses
$1.0M
FY2025▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2021$933K
FY2022$963K
FY2023$1.0M
FY2024$1.1M
FY2025$1.0M
Net assets
−$865K
FY2025▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2021−$1000K
FY2022−$934K
FY2023−$912K
FY2024−$950K
FY2025−$865K

From the FY2025 Form 990 (year ending September 2025) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1977.

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

Where the money goes

72 cents of each dollar spent went to programs.

Program services 72% · $732K Management & general 28% · $286K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Kim Rayfield
President
$0Pt VII · Sec A
Pete Goldschmidt
Vice President
$0Pt VII · Sec A
Richard Mark
Treasurer
$0Pt VII · Sec A
Tom McHenry
Secretary
$0Pt VII · Sec A
Bill Hillan
Director
$0Pt VII · Sec A
John Fisher
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Croft House 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

Provides housing for low-income elderly individuals in Aiken, South Carolina.

Questions for Croft House INC

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Provided by the organization

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1 program · $732K · in their own filed words · FY2024
01

Croft house, inc. (the "corporation") is a not-for-profit corporation formed in accordance with the not-for-profit statutes of the state of south carolina. The corporation was formed for the purpose of operating a 60 unit community known as croft house (the "property") located in aiken, south carolina, which provides housing for…

$732Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.1M
Ln 12
Gifts and grantsLn 1h$708K
Fees for servicesLn 2g$378K
Other incomeLn 4–11$17K
Money outPt IX
$1.0M
Ln 25
Programscol B$732K
Managementcol C$286K
Owns and owesPt X
−$865K
net assets · Ln 32
Cash and savingsLn 1–2$23K
Total assetsLn 16$768K
LiabilitiesLn 26$1.6M
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$708K
Government grantsLn 1e$708K
Fees for servicesLn 2g$378K
Investment incomeLn 3$79
Other incomeLn 4–11$17K
Total revenueLn 12$1.1M
Assets in detailPt X, end of year
CashLn 1$23K
Cash and savings togetherLn 1–2$23K
InvestmentsLn 11–13$172K
Land, buildings, equipmentLn 10c$480K
Other assetsLn 15$21K
Total assetsLn 16$768K
LiabilitiesLn 26$1.6M
Net assetsLn 32−$865K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$20K$23K
InvestmentsLn 11–13$297K$172K
Land, buildings, equipmentLn 10c$397K$480K
Total assetsLn 16$830K$768K
LiabilitiesLn 26$1.8M$1.6M
Net assetsLn 32−$950K−$865K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$44K$44K
Legal feesLn 11b$57$57
Accounting feesLn 11c$5K$5K
Office expensesLn 13$41K$41K
OccupancyLn 16$380K$380K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$3K$3K
Depreciation, depletion and amortizationLn 22$74K$74K
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$457K$267K$190K
All other expensesLn 24e$3K$3K
Total functional expensesLn 25$1.0M$732K$286K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.1M$1.0M$85K−$865K 990 PDF
FY2024 $1.1M$1.1M−$38K−$950K 990 PDF
FY2023 $1.0M$1.0M$21K−$912K 990 PDF
FY2022 $1.0M$963K$66K−$934K 990 PDF
FY2021 $1.1M$933K$171K−$1000K 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 FY2025 990 (6 parts)
Part I · Summary $1,102,970 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $691,102$707,559
I-9 Program service revenuePrior year $391,928$378,360
I-10 Investment incomePrior year $221$79
I-11 Other revenuePrior year $17,154$16,972
I-12 Total revenuePrior year $1,100,405$1,102,970
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 $1,138,055$1,018,134
I-18 Total expensesPrior year $1,138,055$1,018,134
I-19 Revenue less expensesPrior year −$37,650$84,836
Part VI · Governance 12 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
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-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,102,970 across 6 lines filed
VIII-1e Government grants$707,559
VIII-1h Total contributions, gifts and grants$707,559
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $378,360$378,360
VIII-3 Investment incomeExcluded from tax $79$79
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $16,972$16,972
VIII-12 Total revenueRelated to mission $378,360 · Unrelated business $0 · Excluded from tax $17,051$1,102,970
Part IX · Statement of functional expenses $1,018,134 across 11 lines filed
IX-11a Management feesManagement $43,869$43,869
IX-11b Legal feesManagement $57$57
IX-11c Accounting feesManagement $5,000$5,000
IX-13 Office expensesManagement $40,910$40,910
IX-16 OccupancyPrograms $380,497$380,497
IX-17 TravelManagement $1,005$1,005
IX-19 Conferences, conventions and meetingsManagement $2,777$2,777
IX-22 Depreciation, depletion and amortizationPrograms $73,766$73,766
IX-23 InsurancePrograms $10,356$10,356
IX-24 Other expenses (24a–d)Programs $267,280 · Management $189,928$457,208
IX-24e All other expensesManagement $2,689$2,689
IX-25 Total functional expensesPrograms $731,899 · Management $286,235 · Fundraising $0$1,018,134
Part X · Balance sheet $767,945 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $19,645$22,537
X-4 Accounts receivableStart of year $26,218$4,624
X-9 Prepaid expenses and deferred chargesStart of year $28,096$28,344
X-10c Land, buildings and equipment, netStart of year $397,150$480,340
X-13 Program-related investmentsStart of year $296,852$172,224
X-14 Intangible assetsStart of year $40,869$38,478
X-15 Other assetsStart of year $20,703$21,398
X-16 Total assetsStart of year $829,533$767,945
X-17 Accounts payable and accrued expensesStart of year $77,880$14,973
X-19 Deferred revenueStart of year $331$2,758
X-25 Other liabilitiesStart of year $30,898$21,398
X-26 Total liabilitiesStart of year $1,779,510$1,633,119
X-27 Net assets without donor restrictionsStart of year −$949,977−$865,174
X-32 Total net assets or fund balancesStart of year −$949,977−$865,174
X-33 Total liabilities and net assetsStart of year $829,533$767,945
Part XI · Reconciliation of net assets −$865,174 net assets at year end
XI-1 Total revenue$1,102,970
XI-2 Total expenses$1,018,134
XI-3 Revenue less expenses$84,836
XI-4 Net assets at start of year−$949,977
XI-8 Prior period adjustments−$33
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$865,174

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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