Workforce Housing Ventures INC FY2023 filing

Tax-deductible

Dade City, FL501(c)(3)HousingEIN 59-3333830Revenue $180 in FY2023

On file with the IRSworkforcehousingventures.orgPo Box 948, 33526-0948 · Dade City, FLTax-exempt since May 1996Publicly supported — 509(a)(2)

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The organization's mission is to provide decent affordable Housing for low income families through operation of rental properties.

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
1 of 5
filings with a surplus
Average deficit $16K a year · 45% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.0M
96% of total assets
Concern: liabilities are 96% 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
$180
-100% vs prior year
Spent
$76K
To programs
70%
Net assets
$128K
By yearFY2021–FY2025
Revenue
$180
FY2023▼ -100%
Tap a bar for its year
Revenue by fiscal year
FY2021$80K
FY2022$90K
FY2023$180
FY2024$2K
FY2025$796
Expenses
$76K
FY2023▲ +414%
Tap a bar for its year
Expenses by fiscal year
FY2021$100K
FY2022$15K
FY2023$76K
FY2024$35K
FY2025$25K
Net assets
$128K
FY2023▼ -37%
Tap a bar for its year
Net assets by fiscal year
FY2021$129K
FY2022$204K
FY2023$128K
FY2024$95K
FY2025$71K

From the FY2023 Form 990 (year ending June 2023) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1996.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $53K Management & general 30% · $23K

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 · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Executive Di
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
See Workforce Housing Ventures 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides affordable rental housing for low-income families.

Provided by the organization

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1 program · in their own filed words · FY2022
01

Management and operation of low-income housing rental complex units. Organization currently has in process construction of low income rental housing.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$180
Ln 12
Other incomeLn 4–11$180
Money outPt IX
$76K
Ln 25
Programscol B$53K
Managementcol C$23K
Owns and owesPt X
$128K
net assets · Ln 32
Cash and savingsLn 1–2$919
Total assetsLn 16$3.2M
LiabilitiesLn 26$3.0M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Other incomeLn 4–11$180
Total revenueLn 12$180
Assets in detailPt X, end of year
CashLn 1$919
Cash and savings togetherLn 1–2$919
Land, buildings, equipmentLn 10c$3.0M
Other assetsLn 15$96K
Total assetsLn 16$3.2M
LiabilitiesLn 26$3.0M
Net assetsLn 32$128K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
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 FY23End FY23
Cash and savingsLn 1–2$10K$919
Land, buildings, equipmentLn 10c$3.0M$3.0M
Total assetsLn 16$3.2M$3.2M
LiabilitiesLn 26$3.0M$3.0M
Net assetsLn 32$204K$128K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$495$495
Accounting feesLn 11c$2K$2K
OccupancyLn 16$600$600
Other expenses (24a–d)Ln 24$73K$50K$23K
All other expensesLn 24e$378$378
Total functional expensesLn 25$76K$53K$23K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $796$25K−$24K$71K 990 PDF
FY2024 $2K$35K−$33K$95K 990 PDF
FY2023 Viewing $180$76K−$76K$128K 990 PDF
FY2022 $90K$15K$75K$204K 990 PDF
FY2021 $80K$100K−$20K$129K 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 FY2023 990 (6 parts)
Part I · Summary $180 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $10,000$0
I-10 Investment income$0
I-11 Other revenuePrior year $80,187$180
I-12 Total revenuePrior year $90,187$180
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $14,834$76,265
I-18 Total expensesPrior year $14,834$76,265
I-19 Revenue less expensesPrior year $75,353−$76,085
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $180 across 2 lines filed
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $180$180
VIII-12 Total revenueRelated to mission $180$180
Part IX · Statement of functional expenses $76,265 across 5 lines filed
IX-11b Legal feesPrograms $495$495
IX-11c Accounting feesPrograms $2,200$2,200
IX-16 OccupancyPrograms $600$600
IX-24 Other expenses (24a–d)Programs $49,680 · Management $22,912$72,592
IX-24e All other expensesPrograms $378$378
IX-25 Total functional expensesPrograms $53,353 · Management $22,912 · Fundraising $0$76,265
Part X · Balance sheet $3,171,032 assets, 9 lines filed
Asset lines not itemized here account for $34,026; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $10,418$919
X-10c Land, buildings and equipment, netStart of year $3,040,503$3,040,503
X-15 Other assetsStart of year $129,901$95,584
X-16 Total assetsStart of year $3,244,917$3,171,032
X-24 Unsecured notes and loans payableStart of year $3,040,503$3,042,703
X-26 Total liabilitiesStart of year $3,040,503$3,042,703
X-27 Net assets without donor restrictionsStart of year $204,414$128,329
X-32 Total net assets or fund balancesStart of year $204,414$128,329
X-33 Total liabilities and net assetsStart of year $3,244,917$3,171,032
Part XI · Reconciliation of net assets $128,329 net assets at year end
XI-1 Total revenue$180
XI-2 Total expenses$76,265
XI-3 Revenue less expenses−$76,085
XI-4 Net assets at start of year$204,414
XI-10 Net assets at end of year$128,329

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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