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Eufaula Housing Development INC FY2022 filing

Tax-deductible

Eufaula, AL501(c)(3)HousingEIN 63-1241037Revenue $2.5M in FY2022

On file with the IRSPo Box 36, 36072-0036 · Eufaula, ALTax-exempt since May 2003Publicly supported charity — 170(b)(1)(A)(vi)

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To provide educational and low income Housing opportunities to the citizens of Eufaula, al

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2022 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $471K a year · 60% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
21 mo
of spending, in cash
Looks good: 21.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $4K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.2M
42% of total assets
Looks good: liabilities are 42% 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
$2.5M
×25 vs prior year
Spent
$244K
To programs
88%
Net assets
$3.1M
By yearFY2020–FY2024
Revenue
$2.5M
FY2022▲ ×25
Tap a bar for its year
Revenue by fiscal year
FY2020$40K
FY2021$101K
FY2022$2.5M
FY2023$477K
FY2024$764K
Expenses
$244K
FY2022▲ +270%
Tap a bar for its year
Expenses by fiscal year
FY2020$33K
FY2021$66K
FY2022$244K
FY2023$450K
FY2024$755K
Net assets
$3.1M
FY2022▲ +270%
Tap a bar for its year
Net assets by fiscal year
FY2020$808K
FY2021$843K
FY2022$3.1M
FY2023$3.1M
FY2024$3.2M

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2003.

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% · $214K Management & general 12% · $30K

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
$0Pt VII · Sec A
Larry Thomas
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tom Wachs
Secretary
$0Pt VII · Sec A
See Eufaula Housing Development 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

Offers educational and affordable housing for Eufaula, Alabama residents.

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Provided by the organization

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1 program · $214K · in their own filed words · FY2022
01

Management of low income housing units and after school education provided by area teachers to low income students

$214Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
The Stauffer Family FoundationFY2025$4K
Total grants receivedfrom 1 funder$4K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.5M
Ln 12
Gifts and grantsLn 1h$2.3M
Fees for servicesLn 2g$207K
Investment incomeLn 3$443
Money outPt IX
$244K
Ln 25
Programscol B$214K
Managementcol C$30K
Owns and owesPt X
$3.1M
net assets · Ln 32
Cash and savingsLn 1–2$435K
Total assetsLn 16$5.3M
LiabilitiesLn 26$2.2M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.3M
Noncash giftsLn 1g$2.3M
Fees for servicesLn 2g$207K
Investment incomeLn 3$443
Total revenueLn 12$2.5M
Assets in detailPt X, end of year
CashLn 1$188K
SavingsLn 2$247K
Cash and savings togetherLn 1–2$435K
InvestmentsLn 11–13$119K
Land, buildings, equipmentLn 10c$4.8M
Other assetsLn 15$3K
Total assetsLn 16$5.3M
LiabilitiesLn 26$2.2M
Net assetsLn 32$3.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
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 FY22End FY22
Cash and savingsLn 1–2$185K$435K
InvestmentsLn 11–13$170K$119K
Land, buildings, equipmentLn 10c$1.7M$4.8M
Total assetsLn 16$2.1M$5.3M
LiabilitiesLn 26$1.2M$2.2M
Net assetsLn 32$843K$3.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$26K$17K$9K
Other employee benefitsLn 9$1K$1K
Other fees for servicesLn 11g$12K$12K
Office expensesLn 13$8K$8K
OccupancyLn 16$2K$2K
InterestLn 20$47K$47K
Depreciation, depletion and amortizationLn 22$73K$73K
InsuranceLn 23$23K$23K
Other expenses (24a–d)Ln 24$40K$40K
All other expensesLn 24e$13K$13K
Total functional expensesLn 25$244K$214K$30K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $764K$755K$8K$3.2M 990 PDF
FY2023 $477K$450K$27K$3.1M 990 PDF
FY2022 Viewing $2.5M$244K$2.3M$3.1M 990 PDF
FY2021 $101K$66K$35K$843K 990 PDF
FY2020 $40K$33K$7K$808K 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 FY2022 990 (6 parts)
Part I · Summary $2,520,069 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $7,500$2,312,799
I-9 Program service revenuePrior year $92,827$206,827
I-10 Investment incomePrior year $332$443
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $100,659$2,520,069
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 $0$27,312
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $65,960$216,714
I-18 Total expensesPrior year $65,960$244,026
I-19 Revenue less expensesPrior year $34,699$2,276,043
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 $2,520,069 across 6 lines filed
VIII-1f All other contributions, gifts and grants$2,312,799
VIII-1g Noncash contributions (included above)$2,312,799
VIII-1h Total contributions, gifts and grants$2,312,799
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $206,827$206,827
VIII-3 Investment incomeExcluded from tax $443$443
VIII-12 Total revenueRelated to mission $206,827 · Unrelated business $0 · Excluded from tax $443$2,520,069
Part IX · Statement of functional expenses $244,026 across 10 lines filed
IX-7 Other salaries and wagesPrograms $17,049 · Management $8,892$25,941
IX-9 Other employee benefitsManagement $1,371$1,371
IX-11g Other fees for servicesManagement $12,151$12,151
IX-13 Office expensesManagement $7,630$7,630
IX-16 OccupancyPrograms $2,125$2,125
IX-20 InterestPrograms $47,361$47,361
IX-22 Depreciation, depletion and amortizationPrograms $72,510$72,510
IX-23 InsurancePrograms $22,716$22,716
IX-24 Other expenses (24a–d)Programs $39,504$39,504
IX-24e All other expensesPrograms $12,717$12,717
IX-25 Total functional expensesPrograms $213,982 · Management $30,044 · Fundraising $0$244,026
Part X · Balance sheet $5,338,817 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $67,515$188,323
X-2 Savings and temporary cash investmentsStart of year $117,634$246,923
X-4 Accounts receivable$1,649
X-9 Prepaid expenses and deferred chargesStart of year $4,258$16,123
X-10c Land, buildings and equipment, netStart of year $1,727,060$4,763,859
X-11 Publicly traded securitiesStart of year $100,339$100,792
X-13 Program-related investmentsStart of year $69,645$18,000
X-15 Other assetsStart of year $0$3,148
X-16 Total assetsStart of year $2,086,451$5,338,817
X-17 Accounts payable and accrued expensesStart of year $91,724$95,649
X-19 Deferred revenue$4,911
X-25 Other liabilitiesStart of year $750$12,000
X-26 Total liabilitiesStart of year $1,243,673$2,219,995
X-27 Net assets without donor restrictionsStart of year $842,778$3,118,822
X-32 Total net assets or fund balancesStart of year $842,778$3,118,822
X-33 Total liabilities and net assetsStart of year $2,086,451$5,338,817
Part XI · Reconciliation of net assets $3,118,822 net assets at year end
XI-1 Total revenue$2,520,069
XI-2 Total expenses$244,026
XI-3 Revenue less expenses$2,276,043
XI-4 Net assets at start of year$842,778
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,118,822

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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