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Third Century Development Corp

Miami, FLUnknown exempt organizationSince 1980 EIN 59-1908592Revenue $15.0M in FY2021Latest filing we have: 2021. Newer ones may not be in our data yet. Filed since? Tell us.

On file with the IRScherryvillage.orgMiami, FL

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To provide affordable housing, in a caregiving environment, for the aged ederly, seniors, handicapped, and disabled individuals.

Form 990 Part I, line 1, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 59-1908592) · Dispute this line
88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
The latest return is for FY2021, 5 tax years back.
IRS e-file · Filing history
Surplus or deficit
2 of 2
filings with a surplus
Average surplus $7.0M a year · 84% of revenue · last 2 filings
A surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
88%
of spending
88% of spending went to programs.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
2
of 3 voting members
2 of 3 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$15.0M
+740% vs prior year
Spent
$1.1M
To programs
88%
Net assets
$0
By yearFY2020–FY2021
Revenue
$15.0M
FY2021▲ +740%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.8M
FY2021$15.0M
Expenses
$1.1M
FY2021▼ -36%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$1.1M
Net assets
$0
FY2021▲ +100%
Tap a bar for its year
Net assets by fiscal year
FY2020−$5.0M
FY2021$0

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing we have: FY2021.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $930K Management & general 12% · $124K

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

Something off? Claim to add context

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
Marshal Davis
Vice President
$0Pt VII · Sec A
Crystal Walker
Treasurersecretary
$0Pt VII · Sec A
Betty Walker
President
$0Pt VII · Sec A
See Third Century Development Corp 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

Offers affordable housing and care for seniors and disabled individuals.

Questions for Third Century Development Corp

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Your first name shows with your question. Third Century Development Corp answers here, for everyone.

1 program · $930K · in their own filed words · FY2021
01

Cherry village apartments are designed to meet the physical, social, psychological, and economic needs of the aged, elderly, seniors, disabled, and handicapped individuals and families. Care giving outreach and community involvement provides a sucessful program focused on identiifing the needs of the senior community.

Form 990 Part III, line 4, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 59-1908592) · Dispute this line
$930Kprogram 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 2018 · $1.4M federal money spent
Section 8 Housing Assistance PaymentsDepartment of Housing and Urban Development · ALN 14.182 · Direct$1.4M

The auditor reported no findings.

Year ending Dec 2017 · $1.4M federal money spent
Section 8 Housing Assistance PaymentsDepartment of Housing and Urban Development · ALN 14.182 · Direct$1.4M

The auditor reported no findings.

Year ending Dec 2016 · $1.4M federal money spent
Section 8 Housing Assistance PaymentsDepartment of Housing and Urban Development · ALN 14.182 · Direct$1.4M

The auditor reported no findings.

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$15.0M
Ln 12
Investment incomeLn 3$13.8M
Fees for servicesLn 2g$1.2M
Money outPt IX
$1.1M
Ln 25
Programscol B$930K
Managementcol C$124K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$13.8M
Gains on assetsLn 7$13.8M
Total revenueLn 12$15.0M
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Total assetsLn 16$1.6M$0
LiabilitiesLn 26$6.6M$0
Net assetsLn 32−$5.0M$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of officers and key staff (Part IX, line 5)Ln 5$42K$42K
Other salaries and wagesLn 7$97K$97K
Other employee benefitsLn 9$23K$23K
Payroll taxesLn 10$11K$11K
Management feesLn 11a$48K$48K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$42K$42K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$31K$31K
InterestLn 20$166K$166K
Depreciation, depletion and amortizationLn 22$224K$224K
InsuranceLn 23$81K$81K
Other expenses (24a–d)Ln 24$286K$286K
Total functional expensesLn 25$1.1M$930K$124K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest ViewingFiled with the IRS May 13, 2022 $15.0M$1.1M$13.9M$0 990 PDF
FY2020Filed with the IRS Apr 13, 2021 $1.8M$1.7M$134K−$5.0M 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2021 990
Part I · Summary $15,001,401 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $1,783,507$1,204,641
I-10 Investment income$13,796,760
I-11 Other revenuePrior year $2,205$0
I-12 Total revenuePrior year $1,785,712$15,001,401
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $279,401$173,057
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,371,987$881,736
I-18 Total expensesPrior year $1,651,388$1,054,793
I-19 Revenue less expensesPrior year $134,324$13,946,608
Part VI · Governance 2 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $15,001,401 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,204,641$1,204,641
VIII-7 Net gain or loss on sales of assetsRelated to mission $13,796,760$13,796,760
VIII-12 Total revenueRelated to mission $15,001,401 · Unrelated business $0 · Excluded from tax $0$15,001,401
Part IX · Statement of functional expenses $1,054,793 across 13 lines filed
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $42,424$42,424
IX-7 Other salaries and wagesPrograms $96,887$96,887
IX-9 Other employee benefitsPrograms $22,876$22,876
IX-10 Payroll taxesPrograms $10,870$10,870
IX-11a Management feesManagement $47,956$47,956
IX-11b Legal feesManagement $2,090$2,090
IX-11c Accounting feesManagement $41,644$41,644
IX-12 Advertising and promotionManagement $2,006$2,006
IX-13 Office expensesManagement $30,649$30,649
IX-20 InterestPrograms $166,080$166,080
IX-22 Depreciation, depletion and amortizationPrograms $224,166$224,166
IX-23 InsurancePrograms $80,999$80,999
IX-24 Other expenses (24a–d)Programs $286,146$286,146
IX-25 Total functional expensesPrograms $930,448 · Management $124,345 · Fundraising $0$1,054,793
Part X · Balance sheet $0 assets, 4 lines filed
X-16 Total assetsStart of year $1,572,147$0
X-26 Total liabilitiesStart of year $6,613,560$0
X-32 Total net assets or fund balancesStart of year −$5,041,413$0
X-33 Total liabilities and net assetsStart of year $1,572,147$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$15,001,401
XI-2 Total expenses$1,054,793
XI-3 Revenue less expenses$13,946,608
XI-4 Net assets at start of year−$5,041,413
XI-9 Other changes in net assets−$8,905,195
XI-10 Net assets at end of year$0

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

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