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Vicksburg Elderly Housing INC FY2021 filing

Tax-deductible

Duluth, GA501(c)(3)HousingEIN 58-1711708

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.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
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
4 mo
of spending, in cash
Looks good: 3.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$919K
178% of total assets
Concern: liabilities are 178% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 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
$626K
+0.7% vs prior year
Spent
$577K
To programs
91%
Net assets
−$402K
By yearFY2020–FY2024
Revenue
$626K
FY2021▲ +0.7%
Revenue by fiscal year
FY2020$622K
FY2021$626K
FY2022$653K
FY2023$676K
FY2024$741K
Expenses
$577K
FY2021▼ -2%
Expenses by fiscal year
FY2020$590K
FY2021$577K
FY2022$594K
FY2023$654K
FY2024$636K
Net assets
−$402K
FY2021▲ +11%
Net assets by fiscal year
FY2020−$451K
FY2021−$402K
FY2022−$343K
FY2023−$322K
FY2024−$216K

From the FY2021 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

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% · $526K Management & general 9% · $51K

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

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Joseph F Glenn
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Kim Delacey
Director
$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.

Provided by the organization

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1 program service account for $526K of program spending, described in the organization's own filed words · FY2021.
01

Operation and maintenance of an apartment complex for low incomeelderly persons in accordance with teh requirements of thedepartment of housing and urban development.

$526Kprogram expense

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By the numbers

The FY2021 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$626K
Ln 12
Fees for servicesLn 2g$623K
Other incomeLn 4–11$3K
Investment incomeLn 3$291
Money outPt IX
$577K
Ln 25
Programscol B$526K
Managementcol C$51K
Owns and owesPt X
−$402K
net assets · Ln 32
Cash and savingsLn 1–2$186K
Total assetsLn 16$518K
LiabilitiesLn 26$919K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$623K
Investment incomeLn 3$291
Other incomeLn 4–11$3K
Total revenueLn 12$626K
Assets in detailPt X, end of year
CashLn 1$15K
SavingsLn 2$172K
Cash and savings togetherLn 1–2$186K
Land, buildings, equipmentLn 10c$261K
Other assetsLn 15$11K
Total assetsLn 16$518K
LiabilitiesLn 26$919K
Net assetsLn 32−$402K
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 FY21End FY21
Cash and savingsLn 1–2$178K$186K
Land, buildings, equipmentLn 10c$307K$261K
Total assetsLn 16$532K$518K
LiabilitiesLn 26$983K$919K
Net assetsLn 32−$451K−$402K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$118K$118K
Other employee benefitsLn 9$27K$27K
Payroll taxesLn 10$8K$8K
Management feesLn 11a$31K$31K
InterestLn 20$79K$79K
Depreciation, depletion and amortizationLn 22$46K$46K
InsuranceLn 23$80K$80K
Other expenses (24a–d)Ln 24$187K$167K$20K
Total functional expensesLn 25$577K$526K$51K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $741K$636K$105K−$216K 990 PDF
FY2023 $676K$654K$21K−$322K 990 PDF
FY2022 $653K$594K$59K−$343K 990 PDF
FY2021 Viewing $626K$577K$49K−$402K 990 PDF
FY2020 $622K$590K$32K−$451K 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $626,181 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $623,374$623,374
VIII-3 Investment incomeExcluded from tax $291$291
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,516$2,516
VIII-12 Total revenueRelated to mission $625,890 · Unrelated business $0 · Excluded from tax $291$626,181
Part IX · Statement of functional expenses $576,862 across 8 lines filed
IX-7 Other salaries and wagesPrograms $118,161$118,161
IX-9 Other employee benefitsPrograms $27,336$27,336
IX-10 Payroll taxesPrograms $8,085$8,085
IX-11a Management feesManagement $30,890$30,890
IX-20 InterestPrograms $79,057$79,057
IX-22 Depreciation, depletion and amortizationPrograms $45,570$45,570
IX-23 InsurancePrograms $80,482$80,482
IX-24 Other expenses (24a–d)Programs $167,151 · Management $20,130$187,281
IX-25 Total functional expensesPrograms $525,842 · Management $51,020 · Fundraising $0$576,862
Part X · Balance sheet $517,595 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $25,664$14,554
X-2 Savings and temporary cash investmentsStart of year $152,107$171,567
X-4 Accounts receivableStart of year $752$8,525
X-9 Prepaid expenses and deferred chargesStart of year $46,900$50,805
X-10c Land, buildings and equipment, netStart of year $306,608$261,038
X-15 Other assetsStart of year $0$11,106
X-16 Total assetsStart of year $532,031$517,595
X-17 Accounts payable and accrued expensesStart of year $48,061$140,057
X-19 Deferred revenueStart of year $5$5
X-25 Other liabilitiesStart of year $18,982$10,215
X-26 Total liabilitiesStart of year $983,240$919,485
X-27 Net assets without donor restrictionsStart of year −$451,209−$401,890
X-32 Total net assets or fund balancesStart of year −$451,209−$401,890
X-33 Total liabilities and net assetsStart of year $532,031$517,595
Part XI · Reconciliation of net assets −$401,890 net assets at year end
XI-1 Total revenue$626,181
XI-2 Total expenses$576,862
XI-3 Revenue less expenses$49,319
XI-4 Net assets at start of year−$451,209
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$401,890

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

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