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Vicksburg Elderly Housing INC

Tax-deductible

Duluth, GA501(c)(3)Housing EIN 58-1711708Revenue $741K in FY2024

On file with the IRS3237 Satellite Blvd Ste 310, 30096-9087 · Duluth, GATax-exempt since Mar 1987Publicly supported — 509(a)(2)

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To own and operate a rental Housing property for low income Elderly persons under section 202 of the national Housing act.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 6 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $53K a year · 8% 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
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$703K
145% of total assets
Concern: liabilities are 145% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$741K
+10% vs prior year
Spent
$636K
To programs
91%
Net assets
−$216K
By yearFY2020–FY2024
Revenue
$741K
FY2024▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$622K
FY2021$626K
FY2022$653K
FY2023$676K
FY2024$741K
Expenses
$636K
FY2024▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$590K
FY2021$577K
FY2022$594K
FY2023$654K
FY2024$636K
Net assets
−$216K
FY2024▲ +33%
Tap a bar for its year
Net assets by fiscal year
FY2020−$451K
FY2021−$402K
FY2022−$343K
FY2023−$322K
FY2024−$216K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1987.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $581K Management & general 9% · $55K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Joseph F Glenn
Vice President
$0Pt VII · Sec A
Earleen S Abernathy from Oct 2024
Vice President/Asst Secretary
$0Pt VII · Sec A
Elizabeth C Glenn
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Kim Delacey
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Vicksburg Elderly Housing 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides affordable rental housing for low-income seniors.

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Provided by the organization

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1 program · $581K · in their own filed words · FY2024
01

Operation & maintenance of an apartment complex for low-income elderly persons in accordance with the requirements of the Department of Housing and Urban Development.

$581Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$741K
Ln 12
Fees for servicesLn 2g$701K
Other incomeLn 4–11$36K
Investment incomeLn 3$4K
Money outPt IX
$636K
Ln 25
Programscol B$581K
Managementcol C$55K
Owns and owesPt X
−$216K
net assets · Ln 32
Cash and savingsLn 1–2$45K
Total assetsLn 16$486K
LiabilitiesLn 26$703K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$701K
Investment incomeLn 3$4K
Other incomeLn 4–11$36K
Total revenueLn 12$741K
Assets in detailPt X, end of year
CashLn 1$45K
Cash and savings togetherLn 1–2$45K
Land, buildings, equipmentLn 10c$164K
Other assetsLn 15$235K
Total assetsLn 16$486K
LiabilitiesLn 26$703K
Net assetsLn 32−$216K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$18K$45K
Land, buildings, equipmentLn 10c$178K$164K
Total assetsLn 16$442K$486K
LiabilitiesLn 26$763K$703K
Net assetsLn 32−$322K−$216K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$133K$133K
Other employee benefitsLn 9$30K$30K
Payroll taxesLn 10$10K$10K
Management feesLn 11a$35K$35K
Accounting feesLn 11c$15K$15K
OccupancyLn 16$66K$66K
InterestLn 20$57K$57K
Depreciation, depletion and amortizationLn 22$14K$14K
InsuranceLn 23$60K$60K
Other expenses (24a–d)Ln 24$216K$211K$5K
Total functional expensesLn 25$636K$581K$55K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $741K$636K$105K−$216K 990 PDF
FY2023 $676K$654K$21K−$322K 990 PDF
FY2022 $653K$594K$59K−$343K 990 PDF
FY2021 $626K$577K$49K−$402K 990 PDF
FY2020 $622K$590K$32K−$451K 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 FY2024 990 (6 parts)
Part I · Summary $741,354 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $670,547$701,023
I-10 Investment incomePrior year $3,946$4,432
I-11 Other revenuePrior year $1,020$35,899
I-12 Total revenuePrior year $675,513$741,354
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 $157,958$172,908
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $496,244$463,289
I-18 Total expensesPrior year $654,202$636,197
I-19 Revenue less expensesPrior year $21,311$105,157
Part VI · Governance 8 of 8 board members independent, 2 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $741,354 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $701,023$701,023
VIII-3 Investment incomeExcluded from tax $4,432$4,432
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $35,899$35,899
VIII-12 Total revenueRelated to mission $736,922 · Unrelated business $0 · Excluded from tax $4,432$741,354
Part IX · Statement of functional expenses $636,197 across 10 lines filed
IX-7 Other salaries and wagesPrograms $132,800$132,800
IX-9 Other employee benefitsPrograms $30,481$30,481
IX-10 Payroll taxesPrograms $9,627$9,627
IX-11a Management feesManagement $35,048$35,048
IX-11c Accounting feesManagement $14,633$14,633
IX-16 OccupancyPrograms $65,755$65,755
IX-20 InterestPrograms $57,255$57,255
IX-22 Depreciation, depletion and amortizationPrograms $14,286$14,286
IX-23 InsurancePrograms $60,111$60,111
IX-24 Other expenses (24a–d)Programs $210,935 · Management $5,266$216,201
IX-25 Total functional expensesPrograms $581,250 · Management $54,947 · Fundraising $0$636,197
Part X · Balance sheet $486,140 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $18,463$44,603
X-4 Accounts receivableStart of year $714$268
X-9 Prepaid expenses and deferred chargesStart of year $60,618$42,199
X-10c Land, buildings and equipment, netStart of year $178,491$164,205
X-15 Other assetsStart of year $183,544$234,865
X-16 Total assetsStart of year $441,830$486,140
X-17 Accounts payable and accrued expensesStart of year $157,926$96,586
X-25 Other liabilitiesStart of year $12,089$12,586
X-26 Total liabilitiesStart of year $763,401$702,554
X-27 Net assets without donor restrictionsStart of year −$321,571−$216,414
X-32 Total net assets or fund balancesStart of year −$321,571−$216,414
X-33 Total liabilities and net assetsStart of year $441,830$486,140
Part XI · Reconciliation of net assets −$216,414 net assets at year end
XI-1 Total revenue$741,354
XI-2 Total expenses$636,197
XI-3 Revenue less expenses$105,157
XI-4 Net assets at start of year−$321,571
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$216,414

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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