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Levi Towers INC FY2022 filing

Tax-deductible

Hot Springs, AR501(c)(3)Since 2012HousingEIN 71-0508917Revenue $1.2M in FY2022

On file with the IRSlevitowers.com240 Prospect Avenue, 71901-4005 · Hot Springs, ARTax-exempt since Dec 1978Publicly supported charity — 170(b)(1)(A)(vi)

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Operation of low income, elderly housing project in hot springs, arkansas.

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
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
6 of 6
filings with a surplus
Average surplus $123K a year · 10% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3.3M
109% of total assets
Concern: liabilities are 109% of assets; over 80%.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+3% vs prior year
Spent
$1.1M
To programs
77%
Net assets
−$277K
By yearFY2020–FY2025
Revenue
$1.2M
FY2022▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2021$1.2M
FY2022$1.2M
FY2023$1.2M
FY2024$1.3M
FY2025$1.3M
Expenses
$1.1M
FY2022▼ -0.9%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$1.1M
FY2022$1.1M
FY2023$1.2M
FY2024$1.1M
FY2025$1.2M
Net assets
−$277K
FY2022▲ +35%
Tap a bar for its year
Net assets by fiscal year
FY2020−$529K
FY2021−$427K
FY2022−$277K
FY2023−$179K
FY2024−$50K
FY2025$128K

From the FY2022 Form 990 (year ending September 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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 Dec 1978.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $841K Management & general 23% · $252K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Joyce Craft
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Gary Lax
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Susan Siegel
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
See Levi Towers 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 housing for low-income families using federal programs.

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Provided by the organization

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1 program · $841K · in their own filed words · FY2021
01

Organization provides low income housing to the elderly.

$841Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$821K
Fees for servicesLn 2g$359K
Other incomeLn 4–11$63K
Money outPt IX
$1.1M
Ln 25
Programscol B$841K
Managementcol C$252K
Owns and owesPt X
−$277K
net assets · Ln 32
Cash and savingsLn 1–2$62K
Total assetsLn 16$3.0M
LiabilitiesLn 26$3.3M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$821K
Government grantsLn 1e$821K
Fees for servicesLn 2g$359K
Investment incomeLn 3$536
Other incomeLn 4–11$63K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$62K
Cash and savings togetherLn 1–2$62K
Land, buildings, equipmentLn 10c$1.1M
Other assetsLn 15$1.8M
Total assetsLn 16$3.0M
LiabilitiesLn 26$3.3M
Net assetsLn 32−$277K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderSeptember
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$39K$62K
Land, buildings, equipmentLn 10c$1.2M$1.1M
Total assetsLn 16$3.0M$3.0M
LiabilitiesLn 26$3.5M$3.3M
Net assetsLn 32−$427K−$277K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$208K$84K$123K
Other employee benefitsLn 9$11K$4K$6K
Payroll taxesLn 10$27K$11K$16K
Management feesLn 11a$54K$54K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$9K$9K
Other fees for servicesLn 11g$5K$5K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$8K$8K
OccupancyLn 16$141K$141K
InterestLn 20$104K$104K
Depreciation, depletion and amortizationLn 22$194K$194K
InsuranceLn 23$107K$107K
Other expenses (24a–d)Ln 24$193K$179K$14K
All other expensesLn 24e$29K$16K$13K
Total functional expensesLn 25$1.1M$841K$252K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.3M$1.2M$178K$128K 990 PDF
FY2024 $1.3M$1.1M$129K−$50K 990 PDF
FY2023 $1.2M$1.2M$98K−$179K 990 PDF
FY2022 Viewing $1.2M$1.1M$151K−$277K 990 PDF
FY2021 $1.2M$1.1M$101K−$427K 990 PDF
FY2020 $1.2M$1.1M$80K−$529K 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 $1,243,957 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $811,754$821,034
I-9 Program service revenuePrior year $348,701$359,104
I-10 Investment incomePrior year $787$536
I-11 Other revenuePrior year $43,222$63,283
I-12 Total revenuePrior year $1,204,464$1,243,957
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $241,607$244,861
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $861,517$848,441
I-18 Total expensesPrior year $1,103,124$1,093,302
I-19 Revenue less expensesPrior year $101,340$150,655
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $1,243,957 across 6 lines filed
VIII-1e Government grants$821,034
VIII-1h Total contributions, gifts and grants$821,034
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $359,104$359,104
VIII-3 Investment incomeExcluded from tax $536$536
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $63,283$63,283
VIII-12 Total revenueRelated to mission $422,387 · Excluded from tax $536$1,243,957
Part IX · Statement of functional expenses $1,093,302 across 15 lines filed
IX-7 Other salaries and wagesPrograms $84,154 · Management $123,379$207,533
IX-9 Other employee benefitsPrograms $4,343 · Management $6,368$10,711
IX-10 Payroll taxesPrograms $10,793 · Management $15,824$26,617
IX-11a Management feesManagement $53,543$53,543
IX-11b Legal feesManagement $2,301$2,301
IX-11c Accounting feesManagement $9,150$9,150
IX-11g Other fees for servicesManagement $4,980$4,980
IX-12 Advertising and promotionManagement $1,415$1,415
IX-13 Office expensesManagement $7,925$7,925
IX-16 OccupancyPrograms $141,405$141,405
IX-20 InterestPrograms $104,126$104,126
IX-22 Depreciation, depletion and amortizationPrograms $194,167$194,167
IX-23 InsurancePrograms $106,862$106,862
IX-24 Other expenses (24a–d)Programs $178,934 · Management $14,400$193,334
IX-24e All other expensesPrograms $16,408 · Management $12,825$29,233
IX-25 Total functional expensesPrograms $841,192 · Management $252,110 · Fundraising $0$1,093,302
Part X · Balance sheet $3,014,794 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $38,847$61,605
X-9 Prepaid expenses and deferred chargesStart of year $39,853$57,036
X-10c Land, buildings and equipment, netStart of year $1,241,061$1,124,530
X-15 Other assetsStart of year $1,711,885$1,771,623
X-16 Total assetsStart of year $3,031,646$3,014,794
X-17 Accounts payable and accrued expensesStart of year $21,506$32,192
X-19 Deferred revenueStart of year $5,576$7,442
X-25 Other liabilitiesStart of year $30,408$30,750
X-26 Total liabilitiesStart of year $3,458,810$3,291,303
X-27 Net assets without donor restrictionsStart of year −$427,164−$276,509
X-32 Total net assets or fund balancesStart of year −$427,164−$276,509
X-33 Total liabilities and net assetsStart of year $3,031,646$3,014,794
Part XI · Reconciliation of net assets −$276,509 net assets at year end
XI-1 Total revenue$1,243,957
XI-2 Total expenses$1,093,302
XI-3 Revenue less expenses$150,655
XI-4 Net assets at start of year−$427,164
XI-10 Net assets at end of year−$276,509

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

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