Ga Elderly Housing INC

Tax-deductible

Duluth, GA501(c)(3)EIN 58-1735496

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National Housing act to own and operate a rental Housing property for low income Elderly person 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 7 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 $102K a year · 11% 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: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.4M
116% of total assets
Concern: liabilities are 116% 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
$1.0M
+4% vs prior year
Spent
$859K
To programs
91%
Net assets
−$195K
By yearFY2020–FY2024
Revenue
$1.0M
FY2024▲ +4%
Revenue by fiscal year
FY2020$902K
FY2021$920K
FY2022$932K
FY2023$966K
FY2024$1.0M
Expenses
$859K
FY2024▲ +4%
Expenses by fiscal year
FY2020$868K
FY2021$835K
FY2022$822K
FY2023$827K
FY2024$859K
Net assets
−$195K
FY2024▲ +42%
Net assets by fiscal year
FY2020−$673K
FY2021−$588K
FY2022−$479K
FY2023−$339K
FY2024−$195K

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

Form 990 (PDF) Claim

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

91 cents of each dollar spent went to programs.

Program services 91% · $777K Management & general 9% · $81K

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
Vice President
$0Pt VII · Sec A
Vice President/Asst Secretary
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Ga 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 rental housing for low-income seniors.

Provided by the organization

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1 program · $777K · 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.

$777Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$25

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.0M
Ln 12
Fees for servicesLn 2g$987K
Investment incomeLn 3$14K
Other incomeLn 4–11$2K
Money outPt IX
$859K
Ln 25
Programscol B$777K
Managementcol C$81K
Owns and owesPt X
−$195K
net assets · Ln 32
Cash and savingsLn 1–2$38K
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.4M
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$987K
Investment incomeLn 3$14K
Other incomeLn 4–11$2K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$38K
Cash and savings togetherLn 1–2$38K
Land, buildings, equipmentLn 10c$454K
Other assetsLn 15$664K
Total assetsLn 16$1.2M
LiabilitiesLn 26$1.4M
Net assetsLn 32−$195K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
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$49K$38K
Land, buildings, equipmentLn 10c$537K$454K
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$1.6M$1.4M
Net assetsLn 32−$339K−$195K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$178K$178K
Other employee benefitsLn 9$42K$42K
Payroll taxesLn 10$13K$13K
Management feesLn 11a$57K$57K
Accounting feesLn 11c$18K$18K
OccupancyLn 16$97K$97K
InterestLn 20$131K$131K
Depreciation, depletion and amortizationLn 22$82K$82K
InsuranceLn 23$77K$77K
Other expenses (24a–d)Ln 24$165K$159K$6K
Total functional expensesLn 25$859K$777K$81K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.0M$859K$144K−$195K 990 PDF
FY2023 $966K$827K$139K−$339K 990 PDF
FY2022 $932K$822K$110K−$479K 990 PDF
FY2021 $920K$835K$85K−$588K 990 PDF
FY2020 $902K$868K$34K−$673K 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,002,846 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $986,863$986,863
VIII-3 Investment incomeExcluded from tax $13,775$13,775
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,208$2,208
VIII-12 Total revenueRelated to mission $989,071 · Unrelated business $0 · Excluded from tax $13,775$1,002,846
Part IX · Statement of functional expenses $858,707 across 10 lines filed
IX-7 Other salaries and wagesPrograms $177,512$177,512
IX-9 Other employee benefitsPrograms $41,526$41,526
IX-10 Payroll taxesPrograms $12,539$12,539
IX-11a Management feesManagement $57,353$57,353
IX-11c Accounting feesManagement $17,693$17,693
IX-16 OccupancyPrograms $97,320$97,320
IX-20 InterestPrograms $130,939$130,939
IX-22 Depreciation, depletion and amortizationPrograms $81,645$81,645
IX-23 InsurancePrograms $76,938$76,938
IX-24 Other expenses (24a–d)Programs $158,811 · Management $6,431$165,242
IX-25 Total functional expensesPrograms $777,230 · Management $81,477 · Fundraising $0$858,707
Part X · Balance sheet $1,225,724 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $49,385$38,386
X-4 Accounts receivableStart of year $1,929$1,282
X-9 Prepaid expenses and deferred chargesStart of year $74,144$68,614
X-10c Land, buildings and equipment, netStart of year $536,983$453,585
X-15 Other assetsStart of year $582,673$663,857
X-16 Total assetsStart of year $1,245,114$1,225,724
X-17 Accounts payable and accrued expensesStart of year $216,029$221,815
X-25 Other liabilitiesStart of year $24,409$24,813
X-26 Total liabilitiesStart of year $1,584,603$1,421,074
X-27 Net assets without donor restrictionsStart of year −$339,489−$195,350
X-32 Total net assets or fund balancesStart of year −$339,489−$195,350
X-33 Total liabilities and net assetsStart of year $1,245,114$1,225,724
Part XI · Reconciliation of net assets −$195,350 net assets at year end
XI-1 Total revenue$1,002,846
XI-2 Total expenses$858,707
XI-3 Revenue less expenses$144,139
XI-4 Net assets at start of year−$339,489
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$195,350

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

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