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Holston Homes for Elderly FY2023 filing

Tax-deductible

Morristown, TN501(c)(3)HousingEIN 58-1710058Revenue $756K in FY2023

On file with the IRSPo Box 1218, 37816-1218 · Morristown, TNTax-exempt since Jul 1987Publicly supported — 509(a)(2)

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Housing for low-income Elderly

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
5 of 5
filings with a surplus
Average surplus $26K a year · 3% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.3M
137% of total assets
Concern: liabilities are 137% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$756K
+3% vs prior year
Spent
$748K
To programs
88%
Net assets
−$877K
By yearFY2021–FY2025
Revenue
$756K
FY2023▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2021$732K
FY2022$737K
FY2023$756K
FY2024$767K
FY2025$842K
Expenses
$748K
FY2023▲ +4%
Tap a bar for its year
Expenses by fiscal year
FY2021$711K
FY2022$719K
FY2023$748K
FY2024$766K
FY2025$761K
Net assets
−$877K
FY2023▲ +0.9%
Tap a bar for its year
Net assets by fiscal year
FY2021−$904K
FY2022−$885K
FY2023−$877K
FY2024−$876K
FY2025−$795K

From the FY2023 Form 990 (year ending June 2023) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 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 Jul 1987.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $660K Management & general 12% · $87K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Kay Hale
President
$0Pt VII · Sec A
Joe Benthal
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jack Yates
Vice-President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Holston Homes for Elderly 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

Holston Homes for Elderly is a housing nonprofit based in Morristown, TN.

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Provided by the organization

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1 program · $660K · in their own filed words · FY2022
01

Provided housing for low-income elderly & handicapped tenants under section 202 of the national housing act; regulated by hud to rent charges & operating methods. 99 rental units in complex.

$660Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$756K
Ln 12
Fees for servicesLn 2g$384K
Gifts and grantsLn 1h$372K
Investment incomeLn 3$307
Money outPt IX
$748K
Ln 25
Programscol B$660K
Managementcol C$87K
Owns and owesPt X
−$877K
net assets · Ln 32
Cash and savingsLn 1–2$73K
Total assetsLn 16$2.4M
LiabilitiesLn 26$3.3M
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$372K
Government grantsLn 1e$372K
Fees for servicesLn 2g$384K
Investment incomeLn 3$307
Total revenueLn 12$756K
Assets in detailPt X, end of year
CashLn 1$73K
Cash and savings togetherLn 1–2$73K
Land, buildings, equipmentLn 10c$1.6M
Other assetsLn 15$694K
Total assetsLn 16$2.4M
LiabilitiesLn 26$3.3M
Net assetsLn 32−$877K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$81K$73K
Land, buildings, equipmentLn 10c$1.7M$1.6M
Total assetsLn 16$2.5M$2.4M
LiabilitiesLn 26$3.4M$3.3M
Net assetsLn 32−$885K−$877K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$137K$82K$55K
Accounting feesLn 11c$12K$12K
Other fees for servicesLn 11g$7K$7K
Advertising and promotionLn 12$118$118
Office expensesLn 13$13K$13K
InterestLn 20$101K$101K
Depreciation, depletion and amortizationLn 22$121K$121K
InsuranceLn 23$47K$47K
Other expenses (24a–d)Ln 24$309K$309K
Total functional expensesLn 25$748K$660K$87K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $842K$761K$81K−$795K 990 PDF
FY2024 $767K$766K$974−$876K 990 PDF
FY2023 Viewing $756K$748K$8K−$877K 990 PDF
FY2022 $737K$719K$19K−$885K 990 PDF
FY2021 $732K$711K$22K−$904K 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 FY2023 990 (6 parts)
Part I · Summary $756,042 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $363,720$371,865
I-9 Program service revenuePrior year $373,240$383,870
I-10 Investment incomePrior year $168$307
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $737,128$756,042
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 $718,535$747,678
I-18 Total expensesPrior year $718,535$747,678
I-19 Revenue less expensesPrior year $18,593$8,364
Part VI · Governance 10 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-13 Written whistleblower 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
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $756,042 across 5 lines filed
VIII-1e Government grants$371,865
VIII-1h Total contributions, gifts and grants$371,865
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $383,870$383,870
VIII-3 Investment incomeExcluded from tax $307$307
VIII-12 Total revenueRelated to mission $383,870 · Unrelated business $0 · Excluded from tax $307$756,042
Part IX · Statement of functional expenses $747,678 across 9 lines filed
IX-11a Management feesPrograms $81,997 · Management $54,791$136,788
IX-11c Accounting feesManagement $11,871$11,871
IX-11g Other fees for servicesManagement $7,411$7,411
IX-12 Advertising and promotionPrograms $118$118
IX-13 Office expensesManagement $13,351$13,351
IX-20 InterestPrograms $101,089$101,089
IX-22 Depreciation, depletion and amortizationPrograms $120,685$120,685
IX-23 InsurancePrograms $47,425$47,425
IX-24 Other expenses (24a–d)Programs $308,940$308,940
IX-25 Total functional expensesPrograms $660,254 · Management $87,424 · Fundraising $0$747,678
Part X · Balance sheet $2,400,312 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $81,496$73,403
X-9 Prepaid expenses and deferred chargesStart of year $39,519$38,665
X-10c Land, buildings and equipment, netStart of year $1,712,349$1,593,880
X-15 Other assetsStart of year $636,034$694,364
X-16 Total assetsStart of year $2,469,398$2,400,312
X-17 Accounts payable and accrued expensesStart of year $68,269$66,479
X-25 Other liabilitiesStart of year $30,523$30,559
X-26 Total liabilitiesStart of year $3,354,366$3,276,916
X-27 Net assets without donor restrictionsStart of year −$884,968−$876,604
X-32 Total net assets or fund balancesStart of year −$884,968−$876,604
X-33 Total liabilities and net assetsStart of year $2,469,398$2,400,312
Part XI · Reconciliation of net assets −$876,604 net assets at year end
XI-1 Total revenue$756,042
XI-2 Total expenses$747,678
XI-3 Revenue less expenses$8,364
XI-4 Net assets at start of year−$884,968
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$876,604

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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