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Friendship Tower INC FY2021 filing

Tax-deductible

Atlanta, GA501(c)(3)Since 1970 EIN 58-1324092Revenue $112K in FY2021

On file with the IRS35 Northside Dr Sw, 30313-1436 · Atlanta, GATax-exempt since Jul 1978Supporting organization — 509(a)(3)

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A church sponsored housing for seniors and handicapped individuals entitys mission as established in conjunction with the US department of housing and urban development,is to provide safe,decent and low

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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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
FY2026
latest Form 990
Looks good: the latest return is for FY2026, this tax year; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average surplus $26K a year · 100% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Liabilities
$3.1M
842% of total assets
Concern: liabilities are 842% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$112K
Spent
$0
Net assets
−$2.7M
By yearFY2021–FY2026
Revenue
$112K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$112K
FY2022$429K
FY2023−$25K
FY2024−$79K
FY2025−$261K
FY2026−$19K
Expenses
$0
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$0
FY2022$0
FY2023$0
FY2024$0
FY2025$0
FY2026$0
Net assets
−$2.7M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021−$2.7M
FY2022−$2.3M
FY2023−$2.3M
FY2024−$2.4M
FY2025−$2.6M
FY2026−$2.6M

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

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2026) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2026. IRS ruling in Jul 1978.

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

Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Agai Jones
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mc Moore
Member
$0Pt VII · Sec A
See Friendship Tower 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 safe, decent, and low-cost housing for those in need.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Operating revenue and expenses are associated with the rental activities of a multifamily housinh complex operating under the department of housing and urban development section 202 program as described under the us national housing act.

Pt IX · col B

Funders

Who pays for it.

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

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$112K
Ln 12
Other incomeLn 4–11$112K
Investment incomeLn 3$70
Money outPt IX
$0
Ln 25
Owns and owesPt X
−$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$100K
Total assetsLn 16$363K
LiabilitiesLn 26$3.1M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$70
Other incomeLn 4–11$112K
Total revenueLn 12$112K
Assets in detailPt X, end of year
CashLn 1$100K
Cash and savings togetherLn 1–2$100K
Land, buildings, equipmentLn 10c$50K
Other assetsLn 15$208K
Total assetsLn 16$363K
LiabilitiesLn 26$3.1M
Net assetsLn 32−$2.7M
OperationsPt I, VI
EmployeesI 53
VolunteersI 60
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aYes
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$63K$100K
Land, buildings, equipmentLn 10c$91K$50K
Total assetsLn 16$400K$363K
LiabilitiesLn 26$3.2M$3.1M
Net assetsLn 32−$2.8M−$2.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other expenses (24a–d)Ln 24$0$0$0$0
Total functional expensesLn 25$0$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2026 Latest −$19K$0−$19K−$2.6M 990 PDF
FY2025 −$261K$0−$261K−$2.6M 990 PDF
FY2024 −$79K$0−$79K−$2.4M 990 PDF
FY2023 −$25K$0−$25K−$2.3M 990 PDF
FY2022 $429K$0$429K−$2.3M 990 PDF
FY2021 Viewing $112K$0$112K−$2.7M 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 FY2021 990 (6 parts)
Part I · Summary $111,662 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $49$70
I-11 Other revenuePrior year −$36,571$111,592
I-12 Total revenuePrior year −$36,522$111,662
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $0$0
I-18 Total expensesPrior year $0$0
I-19 Revenue less expensesPrior year −$36,522$111,662
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $111,662 across 3 lines filed
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$70
VIII-6 Net rental income or lossRelated to mission $111,592$111,592
VIII-12 Total revenueRelated to mission $111,662 · Unrelated business $0 · Excluded from tax $0$111,662
Part IX · Statement of functional expenses $0 across 1 line filed
IX-24 Other expenses (24a–d)Programs $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$0
Part X · Balance sheet $362,580 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $63,207$100,441
X-4 Accounts receivableStart of year $2,311$2,225
X-9 Prepaid expenses and deferred chargesStart of year $2,599$1,457
X-10c Land, buildings and equipment, netStart of year $91,153$50,144
X-15 Other assetsStart of year $241,160$208,313
X-16 Total assetsStart of year $400,430$362,580
X-17 Accounts payable and accrued expensesStart of year $619,704$289,944
X-19 Deferred revenueStart of year $4,249$8,507
X-25 Other liabilitiesStart of year $675,005$674,003
X-26 Total liabilitiesStart of year $3,204,110$3,054,598
X-27 Net assets without donor restrictionsStart of year −$2,803,680−$2,692,018
X-32 Total net assets or fund balancesStart of year −$2,803,680−$2,692,018
X-33 Total liabilities and net assetsStart of year $400,430$362,580
Part XI · Reconciliation of net assets −$2,692,018 net assets at year end
XI-1 Total revenue$111,662
XI-2 Total expenses$0
XI-3 Revenue less expenses$111,662
XI-4 Net assets at start of year−$2,803,680
XI-10 Net assets at end of year−$2,692,018

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

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