Phyllis Wheatley Homes INC

Tax-deductible

Nashville, TN501(c)(3)Since 1963HousingEIN 62-0952455

Phyllis Wheatley Homes, Inc. ("Project"), is an 81 unit Apartment complex that provides affordable independent living in an energy efficient, quiet, safe and clean environment.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · 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
3 of 6
filings with a surplus
Average surplus $24K a year · 4% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$80K
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$679K
-4% vs prior year
Spent
$672K
To programs
97%
Net assets
$223K
By yearFY2020–FY2025
Revenue
$679K
FY2025▼ -4%
Revenue by fiscal year
FY2020$616K
FY2021$611K
FY2022$820K
FY2023$642K
FY2024$710K
FY2025$679K
Expenses
$672K
FY2025▲ +3%
Expenses by fiscal year
FY2020$620K
FY2021$623K
FY2022$642K
FY2023$726K
FY2024$650K
FY2025$672K
Net assets
$223K
FY2025▲ +19%
Net assets by fiscal year
FY2020$160K
FY2021$148K
FY2022$326K
FY2023$127K
FY2024$187K
FY2025$223K

From the FY2025 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1977.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $652K Management & general 3% · $19K

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Phyllis Wheatley Homes 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, independent apartments in a safe and quiet environment.

Provided by the organization

This section is blank until Phyllis Wheatley Homes INC claims this page.

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1 program service account for $652K of program spending, described in the organization's own filed words · FY2025.
01

The organization operates a housing apartment complex for low-income tenants and all activities are regulated by the US Department of Housing and Urban Development.

$652Kprogram expense

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By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$679K
Ln 12
Fees for servicesLn 2g$678K
Investment incomeLn 3$510
Money outPt IX
$672K
Ln 25
Programscol B$652K
Managementcol C$19K
Owns and owesPt X
$223K
net assets · Ln 32
Cash and savingsLn 1–2$63K
Total assetsLn 16$303K
LiabilitiesLn 26$80K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$678K
Investment incomeLn 3$510
Gains on assetsLn 7$0
Total revenueLn 12$679K
Assets in detailPt X, end of year
CashLn 1$63K
SavingsLn 2$0
Cash and savings togetherLn 1–2$63K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$49K
Other assetsLn 15$145K
Total assetsLn 16$303K
LiabilitiesLn 26$80K
Net assetsLn 32$223K
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$47K$63K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$53K$49K
Total assetsLn 16$290K$303K
LiabilitiesLn 26$103K$80K
Net assetsLn 32$187K$223K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$107K$107K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$12K$12K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$17K$17K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$147K$147K
Advertising and promotionLn 12$0
Office expensesLn 13$28K$28K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$262K$262K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$2K$2K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$4K$4K
InsuranceLn 23$32K$32K
Other expenses (24a–d)Ln 24$60K$59K$150
All other expensesLn 24e$0
Total functional expensesLn 25$672K$652K$19K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $679K$672K$7K$223K 990 PDF
FY2024 $710K$650K$60K$187K 990 PDF
FY2023 $642K$726K−$84K$127K 990 PDF
FY2022 $820K$642K$178K$326K 990 PDF
FY2021 $611K$623K−$12K$148K 990 PDF
FY2020 $616K$620K−$4K$160K 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 FY2025 990 (4 parts)
Part VIII · Statement of revenue $678,608 across 8 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $678,098$678,098
VIII-3 Investment incomeExcluded from tax $510$510
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $678,098 · Excluded from tax $510$678,608
Part IX · Statement of functional expenses $671,769 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $107,395$107,395
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $12,154$12,154
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $17,428$17,428
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $147,401$147,401
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $27,567$27,567
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $261,826$261,826
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsManagement $1,897$1,897
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $4,493$4,493
IX-23 InsurancePrograms $32,056$32,056
IX-24 Other expenses (24a–d)Programs $59,402 · Management $150$59,552
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $652,294 · Management $19,475 · Fundraising $0$671,769
Part X · Balance sheet $302,999 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $47,105$62,949
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $27,910$31,649
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $14,431$14,431
X-10c Land, buildings and equipment, netStart of year $53,215$48,723
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $147,038$145,247
X-16 Total assetsStart of year $289,699$302,999
X-17 Accounts payable and accrued expensesStart of year $78,144$52,867
X-25 Other liabilitiesStart of year $24,565$26,698
X-26 Total liabilitiesStart of year $102,709$79,565
X-27 Net assets without donor restrictionsStart of year $186,990$223,434
X-32 Total net assets or fund balancesStart of year $186,990$223,434
X-33 Total liabilities and net assetsStart of year $289,699$302,999
Part XI · Reconciliation of net assets $223,434 net assets at year end
XI-1 Total revenue$678,608
XI-2 Total expenses$671,769
XI-3 Revenue less expenses$6,839
XI-4 Net assets at start of year$186,990
XI-8 Prior period adjustments$29,605
XI-10 Net assets at end of year$223,434

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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