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Bay Homes Development Corporation FY2021 filing

Tax-deductible

Suisun City, CA501(c)(3)Since 1996Housing EIN 68-0387782Revenue $420K in FY2021

On file with the IRS701 Civic Center Blvd, 94585-2617 · Suisun City, CATax-exempt since Jun 1997Publicly supported charity — 170(b)(1)(A)(vi)

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To provide low-cost housing to those of very-low and moderate income levels.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
0 of 6
filings with a surplus
Average deficit $53K a year · 11% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.2M
241% of total assets
Concern: liabilities are 241% 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
$420K
-3% vs prior year
Spent
$486K
To programs
100%
Net assets
−$1.3M
By yearFY2020–FY2025
Revenue
$420K
FY2021▼ -3%
Tap a bar for its year
Revenue by fiscal year
FY2020$433K
FY2021$420K
FY2022$450K
FY2023$474K
FY2024$499K
FY2025$562K
Expenses
$486K
FY2021▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$459K
FY2021$486K
FY2022$487K
FY2023$572K
FY2024$567K
FY2025$584K
Net assets
−$1.3M
FY2021▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020−$1.2M
FY2021−$1.3M
FY2022−$1.3M
FY2023−$1.4M
FY2024−$1.5M
FY2025−$1.5M

From the FY2021 Form 990 (year ending June 2021) · see the original

990 PDF Claim
You’re viewing the FY2021 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

100 cents of each dollar spent went to programs.

Program services 100% · $486K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Inam Khan
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Ruth Forney
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Yvonne Rojas
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Bay Homes Development Corporation 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 housing for those in need.

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1 program · $486K · in their own filed words · FY2020
01

Bay homes development rents multi-family apartments to those of very-low to moderate income. No grant monies have been received in the current year. Rental income provides funding, and our payments on our loan from the city of suisun city's housing authority are established at a below-market fixed interest rate of just 2% with the…

$486Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$420K
Ln 12
Fees for servicesLn 2g$420K
Investment incomeLn 3$67
Money outPt IX
$486K
Ln 25
Programscol B$486K
Owns and owesPt X
−$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$103K
Total assetsLn 16$910K
LiabilitiesLn 26$2.2M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$420K
Investment incomeLn 3$67
Total revenueLn 12$420K
Assets in detailPt X, end of year
CashLn 1$43K
SavingsLn 2$60K
Cash and savings togetherLn 1–2$103K
Land, buildings, equipmentLn 10c$794K
Total assetsLn 16$910K
LiabilitiesLn 26$2.2M
Net assetsLn 32−$1.3M
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 FY21End FY21
Cash and savingsLn 1–2$86K$103K
Land, buildings, equipmentLn 10c$929K$794K
Total assetsLn 16$1.0M$910K
LiabilitiesLn 26$2.2M$2.2M
Net assetsLn 32−$1.2M−$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$25K$25K
OccupancyLn 16$70K$70K
InterestLn 20$62K$62K
Depreciation, depletion and amortizationLn 22$135K$135K
Other expenses (24a–d)Ln 24$194K$194K
Total functional expensesLn 25$486K$486K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $562K$584K−$21K−$1.5M 990 PDF
FY2024 $499K$567K−$67K−$1.5M 990 PDF
FY2023 $474K$572K−$98K−$1.4M 990 PDF
FY2022 $450K$487K−$37K−$1.3M 990 PDF
FY2021 Viewing $420K$486K−$66K−$1.3M 990 PDF
FY2020 $433K$459K−$27K−$1.2M 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 FY2021 990 (6 parts)
Part I · Summary $420,263 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $432,550$420,196
I-10 Investment incomePrior year $86$67
I-11 Other revenue$0
I-12 Total revenuePrior year $432,636$420,263
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 $459,417$486,244
I-18 Total expensesPrior year $459,417$486,244
I-19 Revenue less expensesPrior year −$26,781−$65,981
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 $420,263 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $420,196$420,196
VIII-3 Investment incomeExcluded from tax $67$67
VIII-12 Total revenueRelated to mission $420,196 · Excluded from tax $67$420,263
Part IX · Statement of functional expenses $486,244 across 5 lines filed
IX-11g Other fees for servicesPrograms $25,487$25,487
IX-16 OccupancyPrograms $69,527$69,527
IX-20 InterestPrograms $61,962$61,962
IX-22 Depreciation, depletion and amortizationPrograms $135,175$135,175
IX-24 Other expenses (24a–d)Programs $194,093$194,093
IX-25 Total functional expensesPrograms $486,244 · Management $0 · Fundraising $0$486,244
Part X · Balance sheet $910,109 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $36,167$42,531
X-2 Savings and temporary cash investmentsStart of year $49,576$60,234
X-4 Accounts receivableStart of year $1,845$6,249
X-9 Prepaid expenses and deferred chargesStart of year $3,805$3,831
X-10c Land, buildings and equipment, netStart of year $928,857$794,115
X-14 Intangible assetsStart of year $3,582$3,149
X-16 Total assetsStart of year $1,023,832$910,109
X-17 Accounts payable and accrued expensesStart of year $15,461$23,974
X-19 Deferred revenueStart of year $408$37
X-24 Unsecured notes and loans payableStart of year $2,204,960$2,146,987
X-25 Other liabilitiesStart of year $19,600$21,689
X-26 Total liabilitiesStart of year $2,240,429$2,192,687
X-27 Net assets without donor restrictionsStart of year −$1,216,597−$1,282,578
X-32 Total net assets or fund balancesStart of year −$1,216,597−$1,282,578
X-33 Total liabilities and net assetsStart of year $1,023,832$910,109
Part XI · Reconciliation of net assets −$1,282,578 net assets at year end
XI-1 Total revenue$420,263
XI-2 Total expenses$486,244
XI-3 Revenue less expenses−$65,981
XI-4 Net assets at start of year−$1,216,597
XI-10 Net assets at end of year−$1,282,578

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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