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Malmaison Villas INC FY2020 filing

Tax-deductible

Duluth, GA501(c)(3)Housing EIN 58-1735492Revenue $463K in FY2020Latest return filed Oct 14, 2025

On file with the IRS3237 Satellite Blvd Ste 310, 30096-9087 · Duluth, GATax-exempt since Aug 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.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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 $29K a year · 6% 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
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 4.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$705K
168% of total assets
Concern: liabilities are 168% 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
$463K
Spent
$454K
To programs
89%
Net assets
−$284K
By yearFY2020–FY2024
Revenue
$463K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$463K
FY2021$487K
FY2022$493K
FY2023$523K
FY2024$536K
Expenses
$454K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$454K
FY2021$468K
FY2022$469K
FY2023$469K
FY2024$495K
Net assets
−$284K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$284K
FY2021−$265K
FY2022−$241K
FY2023−$187K
FY2024−$147K

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2020 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 Aug 1987.

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

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $406K Management & general 11% · $48K

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

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
Kim Delacey
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Malmaison Villas INC executive salaries →

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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1 program · $406K · in their own filed words · FY2020
01

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

$406Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Dec 2024 · $914K federal money spent
Lower Income Housing Assistance Program_section 8 New Construction/Substantial RehabilitationDepartment of Housing and Urban Development · ALN 14.182 · Direct$530K
Project-Based Rental Assistance (pbra)Department of Housing and Urban Development · ALN 14.195 · Direct$385K

The auditor reported no findings.

Year ending Dec 2023 · $959K federal money spent
Section 8 New Construction and Substantial RehabilitationDepartment of Housing and Urban Development · ALN 14.182 · Direct$582K
Section 8 Housing Assistance Payments ProgramDepartment of Housing and Urban Development · ALN 14.195 · Direct$377K

The auditor reported no findings.

Year ending Dec 2022 · $992K federal money spent
Section 8 New Construction and Substantial RehabilitationDepartment of Housing and Urban Development · ALN 14.182 · Direct$630K
Section 8 Housing Assistance Payments ProgramDepartment of Housing and Urban Development · ALN 14.195 · Direct$363K

The auditor reported no findings.

Year ending Dec 2021 · $1.0M federal money spent
Section 8 New Construction and Substantial RehabilitationDepartment of Housing and Urban Development · ALN 14.182 · Direct$673K
Section 8 Housing Assistance Payments ProgramDepartment of Housing and Urban Development · ALN 14.195 · Direct$361K

The auditor reported no findings.

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$463K
Ln 12
Fees for servicesLn 2g$463K
Other incomeLn 4–11$448
Investment incomeLn 3$36
Money outPt IX
$454K
Ln 25
Programscol B$406K
Managementcol C$48K
Owns and owesPt X
−$284K
net assets · Ln 32
Cash and savingsLn 1–2$176K
Total assetsLn 16$421K
LiabilitiesLn 26$705K
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$463K
Investment incomeLn 3$36
Other incomeLn 4–11$448
Total revenueLn 12$463K
Assets in detailPt X, end of year
CashLn 1$14K
SavingsLn 2$162K
Cash and savings togetherLn 1–2$176K
Land, buildings, equipmentLn 10c$212K
Total assetsLn 16$421K
LiabilitiesLn 26$705K
Net assetsLn 32−$284K
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 FY20End FY20
Cash and savingsLn 1–2$167K$176K
Land, buildings, equipmentLn 10c$250K$212K
Total assetsLn 16$449K$421K
LiabilitiesLn 26$742K$705K
Net assetsLn 32−$294K−$284K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$32K$32K
InterestLn 20$64K$64K
Depreciation, depletion and amortizationLn 22$38K$38K
InsuranceLn 23$30K$30K
Other expenses (24a–d)Ln 24$243K$227K$16K
All other expensesLn 24e$47K$47K
Total functional expensesLn 25$454K$406K$48K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Oct 14, 2025 $536K$495K$40K−$147K 990 PDF
FY2023Filed with the IRS Nov 14, 2024 $523K$469K$54K−$187K 990 PDF
FY2022Filed with the IRS Oct 6, 2023 $493K$469K$24K−$241K 990 PDF
FY2021Filed with the IRS Nov 11, 2022 $487K$468K$19K−$265K 990 PDF
FY2020 ViewingFiled with the IRS Nov 9, 2021 $463K$454K$10K−$284K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $463,101 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $471,724$462,617
I-10 Investment incomePrior year $44$36
I-11 Other revenuePrior year $0$448
I-12 Total revenuePrior year $471,768$463,101
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 $470,373$453,516
I-18 Total expensesPrior year $470,373$453,516
I-19 Revenue less expensesPrior year $1,395$9,585
Part VI · Governance 6 of 6 board members independent, 2 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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 $463,101 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $462,617$462,617
VIII-3 Investment incomeExcluded from tax $36$36
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $448$448
VIII-12 Total revenueRelated to mission $463,065 · Unrelated business $0 · Excluded from tax $36$463,101
Part IX · Statement of functional expenses $453,516 across 6 lines filed
IX-11a Management feesManagement $31,854$31,854
IX-20 InterestPrograms $63,982$63,982
IX-22 Depreciation, depletion and amortizationPrograms $37,711$37,711
IX-23 InsurancePrograms $29,545$29,545
IX-24 Other expenses (24a–d)Programs $227,263 · Management $16,148$243,411
IX-24e All other expensesPrograms $47,013$47,013
IX-25 Total functional expensesPrograms $405,514 · Management $48,002 · Fundraising $0$453,516
Part X · Balance sheet $420,539 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $14,657$13,599
X-2 Savings and temporary cash investmentsStart of year $152,825$162,423
X-4 Accounts receivableStart of year $3,386$2,623
X-9 Prepaid expenses and deferred chargesStart of year $28,189$29,972
X-10c Land, buildings and equipment, netStart of year $249,633$211,922
X-16 Total assetsStart of year $448,690$420,539
X-17 Accounts payable and accrued expensesStart of year $14,645$15,980
X-19 Deferred revenueStart of year $3$20
X-25 Other liabilitiesStart of year $14,875$15,459
X-26 Total liabilitiesStart of year $742,404$704,668
X-27 Net assets without donor restrictionsStart of year −$293,714−$284,129
X-32 Total net assets or fund balancesStart of year −$293,714−$284,129
X-33 Total liabilities and net assetsStart of year $448,690$420,539
Part XI · Reconciliation of net assets −$284,129 net assets at year end
XI-1 Total revenue$463,101
XI-2 Total expenses$453,516
XI-3 Revenue less expenses$9,585
XI-4 Net assets at start of year−$293,714
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$284,129

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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