The corporation was formed for the purpose of owning and operating a rental housing project under section 202 of the national housing act.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$12K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
0 of 5
filings with a surplus
Average deficit $43K a year · 21% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$12K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$77K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$205K
+7% vs prior year
Spent
$240K
To programs
100%
Net assets
$1.3M
By yearFY2021–FY2025
Revenue
$205K
FY2022▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2021$191K
FY2022$205K
FY2023$190K
FY2024$205K
FY2025$238K
Expenses
$240K
FY2022-0.5%
Tap a bar for its year
Expenses by fiscal year
FY2021$241K
FY2022$240K
FY2023$258K
FY2024$224K
FY2025$284K
Net assets
$1.3M
FY2022▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2021$1.3M
FY2022$1.3M
FY2023$1.2M
FY2024$1.2M
FY2025$1.1M

From the FY2022 Form 990 (year ending March 2022) · see the original

990 PDF Claim
You’re viewing the FY2022 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 Apr 1998.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $240K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990; $12K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Secretary, Manager
$12,048Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Shelby Wright’s $8K as Secretary, Manager is at the 7th percentile of top reported officer pay among 852 $100K–1M housing nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Shelby Wright$8,334$11,130$13,028$12,048$22,491

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 seniors and people with disabilities.

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Provided by the organization

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1 program · $240K · in their own filed words · FY2021
01

Operating and maintenance of a rental housing project consisting of 30 units under section 202 of the national housing act to provide affordable housing for low income elderly

$240Kprogram 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 · FY2024
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$205K
Ln 12
Fees for servicesLn 2g$205K
Investment incomeLn 3$23
Money outPt IX
$240K
Ln 25
Programscol B$240K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$3K
Total assetsLn 16$1.3M
LiabilitiesLn 26$77K
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$205K
Investment incomeLn 3$23
Total revenueLn 12$205K
Assets in detailPt X, end of year
CashLn 1$3K
Cash and savings togetherLn 1–2$3K
Land, buildings, equipmentLn 10c$1.3M
Other assetsLn 15$18K
Total assetsLn 16$1.3M
LiabilitiesLn 26$77K
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 55
VolunteersI 60
Fiscal year endsHeaderMarch
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$11K$3K
Land, buildings, equipmentLn 10c$1.3M$1.3M
Total assetsLn 16$1.4M$1.3M
LiabilitiesLn 26$85K$77K
Net assetsLn 32$1.3M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$26K$26K
Other salaries and wagesLn 7$16K$16K
Payroll taxesLn 10$4K$4K
Management feesLn 11a$23K$23K
Legal feesLn 11b$75$75
Accounting feesLn 11c$5K$5K
Advertising and promotionLn 12$402$402
Office expensesLn 13$19K$19K
OccupancyLn 16$29K$29K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$199$199
InterestLn 20$5K$5K
Depreciation, depletion and amortizationLn 22$50K$50K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$44K$44K
Total functional expensesLn 25$240K$240K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $238K$284K−$46K$1.1M 990 PDF
FY2024 $205K$224K−$19K$1.2M 990 PDF
FY2023 $190K$258K−$67K$1.2M 990 PDF
FY2022 Viewing $205K$240K−$35K$1.3M 990 PDF
FY2021 $191K$241K−$50K$1.3M 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 FY2022 990 (6 parts)
Part I · Summary $204,798 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $190,798$204,775
I-10 Investment incomePrior year $23$23
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $190,821$204,798
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 $55,503$46,162
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $185,238$193,387
I-18 Total expensesPrior year $240,741$239,549
I-19 Revenue less expensesPrior year −$49,920−$34,751
Part VI · Governance 4 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $204,798 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $204,775$204,775
VIII-3 Investment incomeExcluded from tax $23$23
VIII-12 Total revenueRelated to mission $204,775 · Unrelated business $0 · Excluded from tax $23$204,798
Part IX · Statement of functional expenses $239,549 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $26,073$26,073
IX-7 Other salaries and wagesPrograms $16,268$16,268
IX-10 Payroll taxesPrograms $3,821$3,821
IX-11a Management feesPrograms $22,968$22,968
IX-11b Legal feesPrograms $75$75
IX-11c Accounting feesPrograms $5,250$5,250
IX-12 Advertising and promotionPrograms $402$402
IX-13 Office expensesPrograms $19,342$19,342
IX-16 OccupancyPrograms $29,008$29,008
IX-17 TravelPrograms $1,491$1,491
IX-19 Conferences, conventions and meetingsPrograms $199$199
IX-20 InterestPrograms $4,643$4,643
IX-22 Depreciation, depletion and amortizationPrograms $50,105$50,105
IX-23 InsurancePrograms $15,524$15,524
IX-24 Other expenses (24a–d)Programs $44,380$44,380
IX-25 Total functional expensesPrograms $239,549 · Management $0 · Fundraising $0$239,549
Part X · Balance sheet $1,344,013 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $11,095$3,199
X-4 Accounts receivableStart of year $739$19,063
X-9 Prepaid expenses and deferred chargesStart of year $13,320$14,071
X-10c Land, buildings and equipment, netStart of year $1,340,080$1,289,975
X-15 Other assetsStart of year $22,020$17,705
X-16 Total assetsStart of year $1,387,254$1,344,013
X-17 Accounts payable and accrued expensesStart of year $39,955$48,477
X-25 Other liabilitiesStart of year $45,202$28,190
X-26 Total liabilitiesStart of year $85,157$76,667
X-27 Net assets without donor restrictionsStart of year $14,790$28,165
X-28 Net assets with donor restrictionsStart of year $1,287,307$1,239,181
X-32 Total net assets or fund balancesStart of year $1,302,097$1,267,346
X-33 Total liabilities and net assetsStart of year $1,387,254$1,344,013
Part XI · Reconciliation of net assets $1,267,346 net assets at year end
XI-1 Total revenue$204,798
XI-2 Total expenses$239,549
XI-3 Revenue less expenses−$34,751
XI-4 Net assets at start of year$1,302,097
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,267,346

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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