Sunshine Development Corporation: FY2021 Nonprofit Profile & Form 990 (EIN 58-1525418)

Revenue by fiscal year
FY2021	$4.4M
FY2022	$127
FY2023	$0
FY2024	$0
FY2025	$0

Expenses by fiscal year
FY2021	$146K
FY2022	$986
FY2023	$1K
FY2024	$0
FY2025	$0

Net assets by fiscal year
FY2021	$23K
FY2022	$19K
FY2023	$18K
FY2024	$18K
FY2025	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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

Where the money goes

84 cents of each dollar spent went to programs.

84%

16%

Program services 84% · $122K Management & general 16% · $24K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

21 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

Michael W King

President

$0Pt VII · Sec A

Sharon Wilson Geno

Asst Sec/Tre

$0Pt VII · Sec A

Joseph Budzynski

Asst Sec/Tre

$0Pt VII · Sec A

Kimberly King

Asst. Sec/Tr

$0Pt VII · Sec A

Nancy Gavin

Asst. Sec/Tr

$0Pt VII · Sec A

Peter Desjardins

Asst. Sec/Tr

$0Pt VII · Sec A

Faith Nutz

Asst. Sec/Tr

$0Pt VII · Sec A

Patti Arnold

Chairperson

$0Pt VII · Sec A

See Sunshine Development Corporation executive salaries →

On this list? Claim this org

Something off? Claim to add context

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2Yes
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers affordable housing for seniors and families through federal programs.

Questions for Sunshine Development Corporation

Tap to ask. Sunshine Development Corporation sees how many people are interested.

Your first name shows with your question. Sunshine Development Corporation answers here, for everyone.

Provided by the organization

Know this org? Add your story

1 program · $122K · in their own filed words · FY2020

01

Provides housing to elderly persons and families under section 202 of the national housing act under an agreement with the department of hud.

$122Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$4.4M

Ln 12

Investment incomeLn 3$4.2M

Fees for servicesLn 2g$124K

Other incomeLn 4–11$21K

Money outPt IX

$146K

Ln 25

Programscol B$122K

Managementcol C$24K

Owns and owesPt X

$23K

net assets · Ln 32

Cash and savingsLn 1–2$15K

Total assetsLn 16$23K

LiabilitiesLn 26$0

PeoplePt VI, VII

21

listed · VII A

PaidVII A0

Voting boardVI 1a15

IndependentVI 1b13

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$124K

Investment incomeLn 3$4.2M

Other incomeLn 4–11$21K

Gains on assetsLn 7$4.2M

Total revenueLn 12$4.4M

Assets in detailPt X, end of year

CashLn 1$15K

Cash and savings togetherLn 1–2$15K

Other assetsLn 15$3K

Total assetsLn 16$23K

LiabilitiesLn 26$0

Net assetsLn 32$23K

OperationsPt I, VI

EmployeesI 50

Fiscal year endsHeaderJune

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

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$27K	$15K
Total assetsLn 16	$411K	$23K
LiabilitiesLn 26	$797K	$0
Net assetsLn 32	−$385K	$23K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$32K	$32K
Other employee benefitsLn 9	$7K	$7K
Payroll taxesLn 10	$3K	$3K
Management feesLn 11a	$11K		$11K
Accounting feesLn 11c	$12K		$12K
Office expensesLn 13	$8K	$8K
OccupancyLn 16	$21K	$21K
Depreciation, depletion and amortizationLn 22	$21K	$21K
InsuranceLn 23	$1K	$1K
Other expenses (24a–d)Ln 24	$29K	$29K
Total functional expensesLn 25	$146K	$122K	$24K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$0	$0	$0	$0	990 PDF
FY2024	$0	$0	$0	$18K	990 PDF
FY2023	$0	$1K	−$1K	$18K	990 PDF
FY2022	$127	$986	−$859	$19K	990 PDF
FY2021 Viewing	$4.4M	$146K	$4.2M	$23K	990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations

See the full FY2021 990 (6 parts)

Part I · Summary $4,378,289 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenuePrior year $257,129$123,961

I-10 Investment incomePrior year $700$4,233,683

I-11 Other revenue$20,645

I-12 Total revenuePrior year $257,829$4,378,289

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $67,525$42,325

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $205,463$103,866

I-18 Total expensesPrior year $272,988$146,191

I-19 Revenue less expensesPrior year −$15,159$4,232,098

Part VI · Governance 13 of 15 board members independent, 2 to look at

VI-1a Voting members of the governing body15

VI-1b Independent voting members13

VI-2 Family or business relationship among officers or directorsYes

VI-15a Process for setting top official's payNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $4,378,289 across 5 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $123,961$123,961

VIII-3 Investment incomeRelated to mission $149$149

VIII-7 Net gain or loss on sales of assetsRelated to mission $4,233,534$4,233,534

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $20,645$20,645

VIII-12 Total revenueRelated to mission $4,378,289$4,378,289

Part IX · Statement of functional expenses $146,191 across 10 lines filed

IX-7 Other salaries and wagesPrograms $32,357$32,357

IX-9 Other employee benefitsPrograms $7,391$7,391

IX-10 Payroll taxesPrograms $2,577$2,577

IX-11a Management feesManagement $11,494$11,494

IX-11c Accounting feesManagement $12,490$12,490

IX-13 Office expensesPrograms $8,365$8,365

IX-16 OccupancyPrograms $21,177$21,177

IX-22 Depreciation, depletion and amortizationPrograms $20,612$20,612

IX-23 InsurancePrograms $1,002$1,002

IX-24 Other expenses (24a–d)Programs $28,726$28,726

IX-25 Total functional expensesPrograms $122,207 · Management $23,984 · Fundraising $0$146,191

Part X · Balance sheet $23,055 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $27,442$15,090

X-4 Accounts receivableStart of year $20$5,246

X-15 Other assetsStart of year $93,725$2,719

X-16 Total assetsStart of year $411,477$23,055

X-26 Total liabilitiesStart of year $796,806$0

X-27 Net assets without donor restrictionsStart of year −$385,329$23,055

X-32 Total net assets or fund balancesStart of year −$385,329$23,055

X-33 Total liabilities and net assetsStart of year $411,477$23,055

Part XI · Reconciliation of net assets $23,055 net assets at year end

XI-1 Total revenue$4,378,289

XI-2 Total expenses$146,191

XI-3 Revenue less expenses$4,232,098

XI-4 Net assets at start of year−$385,329

XI-9 Other changes in net assets−$3,823,714

XI-10 Net assets at end of year$23,055

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

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

Sunshine Development Corporation FY2021 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Sunshine Development Corporation

By the numbers

Filing history

Schedules filed Part IV