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Smith County Housing Development Corporation

Not tax-deductible

Carthage, TN501(c)(4)Since 1975EIN 58-1387898

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Provide subsidized Housing for the elderly

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
6 of 6
filings with a surplus
Average surplus $54K a year · 25% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
17 mo
of spending, in cash
Looks good: 17.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$225K
37% of total assets
Looks good: liabilities are 37% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 6 voting members
Looks good: 5 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
$241K
+6% vs prior year
Spent
$188K
To programs
100%
Net assets
$380K
By yearFY2020–FY2025
Revenue
$241K
FY2025▲ +6%
Revenue by fiscal year
FY2020$196K
FY2021$196K
FY2022$207K
FY2023$220K
FY2024$228K
FY2025$241K
Expenses
$188K
FY2025▲ +3%
Expenses by fiscal year
FY2020$150K
FY2021$144K
FY2022$143K
FY2023$155K
FY2024$182K
FY2025$188K
Net assets
$380K
FY2025▲ +16%
Net assets by fiscal year
FY2020$100K
FY2021$152K
FY2022$216K
FY2023$281K
FY2024$327K
FY2025$380K

From the FY2025 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1980.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $188K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Sam Gray
Board Member
$0Pt VII · Sec A
Jeff Mason
Board Member
$0Pt VII · Sec A
David Bass
Vice President
$0Pt VII · Sec A
Michael Nesbitt
Board Member
$0Pt VII · Sec A
See Smith County Housing Development Corporation 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

Offers affordable housing for seniors.

Provided by the organization

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1 program · $188K · in their own filed words · FY2025
01

Provide subsidized housing for the elderly

$188Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$241K
Ln 12
Fees for servicesLn 2g$165K
Gifts and grantsLn 1h$71K
Investment incomeLn 3$5K
Money outPt IX
$188K
Ln 25
Programscol B$188K
Owns and owesPt X
$380K
net assets · Ln 32
Cash and savingsLn 1–2$267K
Total assetsLn 16$605K
LiabilitiesLn 26$225K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$71K
Government grantsLn 1e$71K
Fees for servicesLn 2g$165K
Investment incomeLn 3$5K
Total revenueLn 12$241K
Assets in detailPt X, end of year
CashLn 1$27K
SavingsLn 2$240K
Cash and savings togetherLn 1–2$267K
Land, buildings, equipmentLn 10c$311K
Total assetsLn 16$605K
LiabilitiesLn 26$225K
Net assetsLn 32$380K
OperationsPt I, VI
EmployeesI 51
VolunteersI 60
Fiscal year endsHeaderDecember
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 FY25End FY25
Cash and savingsLn 1–2$234K$267K
Land, buildings, equipmentLn 10c$323K$311K
Total assetsLn 16$577K$605K
LiabilitiesLn 26$251K$225K
Net assetsLn 32$327K$380K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$32K$32K
Payroll taxesLn 10$2K$2K
Management feesLn 11a$10K$10K
Accounting feesLn 11c$8K$8K
Office expensesLn 13$1K$1K
InterestLn 20$4K$4K
Depreciation, depletion and amortizationLn 22$29K$29K
InsuranceLn 23$27K$27K
Other expenses (24a–d)Ln 24$73K$73K
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$188K$188K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $241K$188K$53K$380K 990 PDF
FY2024 $228K$182K$46K$327K 990 PDF
FY2023 $220K$155K$65K$281K 990 PDF
FY2022 $207K$143K$64K$216K 990 PDF
FY2021 $196K$144K$52K$152K 990 PDF
FY2020 $196K$150K$46K$100K 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 (5 parts)
Part I · Summary $240,570 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $64,603$70,520
I-9 Program service revenuePrior year $158,425$165,310
I-10 Investment incomePrior year $4,479$4,740
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $227,507$240,570
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 $33,836$34,480
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $147,736$153,093
I-18 Total expensesPrior year $181,572$187,573
I-19 Revenue less expensesPrior year $45,935$52,997
Part VIII · Statement of revenue $240,570 across 5 lines filed
VIII-1e Government grants$70,520
VIII-1h Total contributions, gifts and grants$70,520
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $165,310$165,310
VIII-3 Investment incomeExcluded from tax $4,740$4,740
VIII-12 Total revenueRelated to mission $165,310 · Unrelated business $0 · Excluded from tax $4,740$240,570
Part IX · Statement of functional expenses $187,573 across 10 lines filed
IX-7 Other salaries and wagesPrograms $32,000$32,000
IX-10 Payroll taxesPrograms $2,480$2,480
IX-11a Management feesPrograms $9,500$9,500
IX-11c Accounting feesPrograms $8,500$8,500
IX-13 Office expensesPrograms $1,411$1,411
IX-20 InterestPrograms $3,601$3,601
IX-22 Depreciation, depletion and amortizationPrograms $28,727$28,727
IX-23 InsurancePrograms $26,727$26,727
IX-24 Other expenses (24a–d)Programs $72,514$72,514
IX-24e All other expensesPrograms $2,113$2,113
IX-25 Total functional expensesPrograms $187,573 · Management $0 · Fundraising $0$187,573
Part X · Balance sheet $604,940 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $32,556$26,927
X-2 Savings and temporary cash investmentsStart of year $201,047$239,953
X-9 Prepaid expenses and deferred chargesStart of year $21,330$26,986
X-10c Land, buildings and equipment, netStart of year $322,510$311,074
X-16 Total assetsStart of year $577,443$604,940
X-17 Accounts payable and accrued expensesStart of year $28,977$37,279
X-25 Other liabilitiesStart of year $4,000$4,000
X-26 Total liabilitiesStart of year $250,794$225,294
X-32 Total net assets or fund balancesStart of year $326,649$379,646
X-33 Total liabilities and net assetsStart of year $577,443$604,940
Part XI · Reconciliation of net assets $379,646 net assets at year end
XI-1 Total revenue$240,570
XI-2 Total expenses$187,573
XI-3 Revenue less expenses$52,997
XI-4 Net assets at start of year$326,649
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$379,646

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

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