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Chimney Peak Development Corp FY2024 filing

Tax-deductible

Jacksonville, AL501(c)(3)Housing EIN 63-1171940Revenue $1.0M in FY2024

On file with the IRS895 Gardner Drive Se, 36265-2803 · Jacksonville, ALTax-exempt since Jun 1997Supporting organization — 509(a)(3)

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To provide affordable low income housing

501(c)(3) charity; gifts are tax-deductible.
67¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
2 of 6
filings with a surplus
Average surplus $129K a year · 61% of revenue · last 6 filings
Worth a look: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
17 mo
of spending, in cash
Looks good: 16.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$8K
1% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 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
$1.0M
×20 vs prior year
Spent
$68K
To programs
67%
Net assets
$596K
By yearFY2020–FY2025
Revenue
$1.0M
FY2024▲ ×20
Tap a bar for its year
Revenue by fiscal year
FY2020$49K
FY2021$50K
FY2022$51K
FY2023$49K
FY2024$1.0M
FY2025$69K
Expenses
$68K
FY2024▼ -55%
Tap a bar for its year
Expenses by fiscal year
FY2020$94K
FY2021$58K
FY2022$65K
FY2023$152K
FY2024$68K
FY2025$66K
Net assets
$596K
FY2024▲ +272%
Tap a bar for its year
Net assets by fiscal year
FY2020−$222K
FY2021−$230K
FY2022−$244K
FY2023−$346K
FY2024$596K
FY2025$598K

From the FY2024 Form 990 (year ending June 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 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 Jun 1997.

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

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $46K Management & general 33% · $22K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Ray Bittle
Chairman
$0Pt VII · Sec A
Cindy Newsome
Board Commissioner
$0Pt VII · Sec A
Jane Hay
Board Commissioner
$0Pt VII · Sec A
Terry Ponder
Board Commissioner
$0Pt VII · Sec A
Deborah Flowers
Board Commissioner
$0Pt VII · Sec A
Jessica Moxley
Executive Director
$0Pt VII · Sec A
See Chimney Peak Development Corp 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

Builds and manages affordable housing for low-income individuals and families.

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Provided by the organization

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1 program · $46K · in their own filed words · FY2023
01

To provide affordable low income housing

$46Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.0M
Ln 12
Other incomeLn 4–11$959K
Fees for servicesLn 2g$52K
Money outPt IX
$68K
Ln 25
Programscol B$46K
Managementcol C$22K
Owns and owesPt X
$596K
net assets · Ln 32
Cash and savingsLn 1–2$94K
Total assetsLn 16$603K
LiabilitiesLn 26$8K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$52K
Other incomeLn 4–11$959K
Total revenueLn 12$1.0M
Assets in detailPt X, end of year
CashLn 1$94K
Cash and savings togetherLn 1–2$94K
Land, buildings, equipmentLn 10c$500K
Other assetsLn 15$8K
Total assetsLn 16$603K
LiabilitiesLn 26$8K
Net assetsLn 32$596K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$87K$94K
Land, buildings, equipmentLn 10c$527K$500K
Total assetsLn 16$623K$603K
LiabilitiesLn 26$969K$8K
Net assetsLn 32−$346K$596K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$13K$13K
Other fees for servicesLn 11g$7K$6K$1K
Office expensesLn 13$7K$5K$1K
OccupancyLn 16$3K$2K$617
Depreciation, depletion and amortizationLn 22$27K$22K$5K
InsuranceLn 23$1K$979$244
Other expenses (24a–d)Ln 24$10K$10K
Total functional expensesLn 25$68K$46K$22K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $69K$66K$2K$598K 990 PDF
FY2024 Viewing $1.0M$68K$942K$596K 990 PDF
FY2023 $49K$152K−$102K−$346K 990 PDF
FY2022 $51K$65K−$14K−$244K 990 PDF
FY2021 $50K$58K−$8K−$230K 990 PDF
FY2020 $49K$94K−$45K−$222K 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 FY2024 990 (6 parts)
Part I · Summary $1,010,212 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $49,186$51,528
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $199$958,684
I-12 Total revenuePrior year $49,385$1,010,212
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 $14,604$13,226
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $137,162$54,809
I-18 Total expensesPrior year $151,766$68,035
I-19 Revenue less expensesPrior year −$102,381$942,177
Part VI · Governance 5 of 5 board members independent, 4 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $1,010,212 across 3 lines filed
Lines not itemized here account for $1,927 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $49,601$49,601
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $958,684$958,684
VIII-12 Total revenueRelated to mission $51,528 · Unrelated business $0 · Excluded from tax $958,684$1,010,212
Part IX · Statement of functional expenses $68,035 across 7 lines filed
IX-7 Other salaries and wagesManagement $13,226$13,226
IX-11g Other fees for servicesPrograms $5,807 · Management $1,452$7,259
IX-13 Office expensesPrograms $5,229 · Management $1,306$6,535
IX-16 OccupancyPrograms $2,463 · Management $617$3,080
IX-22 Depreciation, depletion and amortizationPrograms $21,754 · Management $5,438$27,192
IX-23 InsurancePrograms $979 · Management $244$1,223
IX-24 Other expenses (24a–d)Programs $9,520$9,520
IX-25 Total functional expensesPrograms $45,752 · Management $22,283 · Fundraising $0$68,035
Part X · Balance sheet $603,456 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $87,495$94,266
X-4 Accounts receivableStart of year $1,847$787
X-9 Prepaid expenses and deferred chargesStart of year $918$918
X-10c Land, buildings and equipment, netStart of year $526,885$499,694
X-15 Other assetsStart of year $5,975$7,791
X-16 Total assetsStart of year $623,120$603,456
X-17 Accounts payable and accrued expensesStart of year $92,987$1,724
X-19 Deferred revenueStart of year $2,074$306
X-24 Unsecured notes and loans payableStart of year $868,560$0
X-25 Other liabilitiesStart of year $5,826$5,576
X-26 Total liabilitiesStart of year $969,447$7,606
X-27 Net assets without donor restrictionsStart of year −$398,066$595,850
X-28 Net assets with donor restrictionsStart of year $51,739$0
X-32 Total net assets or fund balancesStart of year −$346,327$595,850
X-33 Total liabilities and net assetsStart of year $623,120$603,456
Part XI · Reconciliation of net assets $595,850 net assets at year end
XI-1 Total revenue$1,010,212
XI-2 Total expenses$68,035
XI-3 Revenue less expenses$942,177
XI-4 Net assets at start of year−$346,327
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$595,850

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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