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Third Century Development Corp FY2020 filing

Miami, FLUnknown exempt organizationSince 1980 EIN 59-1908592Revenue $1.8M in FY2020Latest 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, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 59-1908592) · Dispute this line
80¢ of each $1 spent went to programs.
$93K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · 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
80%
of spending
80% of spending went to programs.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$93K
to officers and key staff · 6% of spending
Pay to officers and key staff is 6% of spending.
Part VII, Section A
Cash reserves
0.1 mo
of spending, in cash
0.1 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6.6M
421% of total assets
Liabilities are 421% of 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
$1.8M
Spent
$1.7M
To programs
80%
Net assets
−$5.0M
By yearFY2020–FY2021
Revenue
$1.8M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.8M
FY2021$15.0M
Expenses
$1.7M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$1.1M
Net assets
−$5.0M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$5.0M
FY2021$0

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

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

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

80 cents of each dollar spent went to programs.

Program services 80% · $1.3M Management & general 20% · $326K

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

3 people listed on the 990; $93K paid to officers and key staff (Part VII, Section A).

Part VII, Section A · reportable compensation
Betty Walker
President
$93,000Pt VII · Sec A
Marshal Davis
Vice President
$0Pt VII · Sec A
Crystal Walker
Treasurersecretary
$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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1 program · $1.3M · in their own filed words · FY2020
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, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 59-1908592) · Dispute this line
$1.3Mprogram 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 FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.8M
Ln 12
Fees for servicesLn 2g$1.8M
Other incomeLn 4–11$2K
Money outPt IX
$1.7M
Ln 25
Programscol B$1.3M
Managementcol C$326K
Owns and owesPt X
−$5.0M
net assets · Ln 32
Cash and savingsLn 1–2$16K
Total assetsLn 16$1.6M
LiabilitiesLn 26$6.6M
PeoplePt VI, VII
3
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$1.8M
Other incomeLn 4–11$2K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$16K
Cash and savings togetherLn 1–2$16K
Accounts receivableLn 4$2K
Prepaid expenses and deferred chargesLn 9$228
Land, buildings, equipmentLn 10c$1.5M
Other assetsLn 15$24K
Total assetsLn 16$1.6M
LiabilitiesLn 26$6.6M
Net assetsLn 32−$5.0M
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 FY20End FY20
Cash and savingsLn 1–2$39K$16K
Land, buildings, equipmentLn 10c$1.8M$1.5M
Total assetsLn 16$1.9M$1.6M
LiabilitiesLn 26$6.7M$6.6M
Net assetsLn 32−$4.8M−$5.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$262K$262K
Payroll taxesLn 10$18K$18K
Management feesLn 11a$71K$71K
Legal feesLn 11b$116K$116K
Other fees for servicesLn 11g$84K$84K
Advertising and promotionLn 12$289$289
Office expensesLn 13$54K$54K
InterestLn 20$247K$247K
Depreciation, depletion and amortizationLn 22$312K$312K
InsuranceLn 23$103K$103K
Other expenses (24a–d)Ln 24$384K$384K
Total functional expensesLn 25$1.7M$1.3M$326K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 LatestFiled with the IRS May 13, 2022 $15.0M$1.1M$13.9M$0 990 PDF
FY2020 ViewingFiled 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 FY2020 990
Part I · Summary $1,785,712 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $1,736,084$1,783,507
I-10 Investment income$0
I-11 Other revenuePrior year $2,205$2,205
I-12 Total revenuePrior year $1,738,289$1,785,712
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $240,681$279,401
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,848,855$1,371,987
I-18 Total expensesPrior year $2,089,536$1,651,388
I-19 Revenue less expensesPrior year −$351,247$134,324
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 $1,785,712 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,783,507$1,783,507
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,205$2,205
VIII-12 Total revenueRelated to mission $1,785,712 · Unrelated business $0 · Excluded from tax $0$1,785,712
Part IX · Statement of functional expenses $1,651,388 across 11 lines filed
IX-7 Other salaries and wagesPrograms $261,583$261,583
IX-10 Payroll taxesPrograms $17,818$17,818
IX-11a Management feesManagement $70,817$70,817
IX-11b Legal feesManagement $115,795$115,795
IX-11g Other fees for servicesManagement $84,310$84,310
IX-12 Advertising and promotionManagement $289$289
IX-13 Office expensesManagement $54,468$54,468
IX-20 InterestPrograms $247,457$247,457
IX-22 Depreciation, depletion and amortizationPrograms $312,361$312,361
IX-23 InsurancePrograms $102,613$102,613
IX-24 Other expenses (24a–d)Programs $383,877$383,877
IX-25 Total functional expensesPrograms $1,325,709 · Management $325,679 · Fundraising $0$1,651,388
Part X · Balance sheet $1,572,147 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $39,060$16,139
X-4 Accounts receivableStart of year $5,367$2,109
X-9 Prepaid expenses and deferred chargesStart of year $156$228
X-10c Land, buildings and equipment, netStart of year $1,822,706$1,529,691
X-15 Other assetsStart of year $37,801$23,980
X-16 Total assetsStart of year $1,905,090$1,572,147
X-17 Accounts payable and accrued expensesStart of year $95,623$134,270
X-19 Deferred revenueStart of year $12,495$10,290
X-23 Secured mortgages and notes payableStart of year $6,570,136$6,445,321
X-25 Other liabilitiesStart of year $30,076$23,679
X-26 Total liabilitiesStart of year $6,708,330$6,613,560
X-27 Net assets without donor restrictionsStart of year −$4,803,240−$5,041,413
X-32 Total net assets or fund balancesStart of year −$4,803,240−$5,041,413
X-33 Total liabilities and net assetsStart of year $1,905,090$1,572,147
Part XI · Reconciliation of net assets −$5,041,413 net assets at year end
XI-1 Total revenue$1,785,712
XI-2 Total expenses$1,651,388
XI-3 Revenue less expenses$134,324
XI-4 Net assets at start of year−$4,803,240
XI-8 Prior period adjustments$2,205
XI-9 Other changes in net assets−$374,702
XI-10 Net assets at end of year−$5,041,413

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

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