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Cabot Housing INC FY2020 filing

Tax-deductible

Little Rock, AR501(c)(3)Housing EIN 71-0600271Revenue $656K in FY2020

On file with the IRS8101 Interstate 30 Ste A, 72209-4800 · Little Rock, ARTax-exempt since Jun 1987Publicly supported — 509(a)(2)

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Provide low-income Housing to the elderly an disabled in Cabot and lonoke, arkansas in accordance with the US department of Housing & urban development.

501(c)(3) charity; gifts are tax-deductible.
91¢ 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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FY2020 · 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
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $27K a year · 4% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
91%
of spending
Looks good: 91% 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: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.2M
152% of total assets
Concern: liabilities are 152% of assets; over 80%.
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
$656K
Spent
$618K
To programs
91%
Net assets
−$739K
By yearFY2020–FY2023
Revenue
$656K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$656K
FY2021$660K
FY2022$676K
FY2023$697K
Expenses
$618K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$618K
FY2021$619K
FY2022$663K
FY2023$682K
Net assets
−$739K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020−$739K
FY2021−$697K
FY2022−$684K
FY2023−$670K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Jun 1987.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $562K Management & general 9% · $56K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
Wayne Hamrick
Board Member
$0Pt VII · Sec A
Joshua D Jacobs
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
See Cabot Housing 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 affordable housing to seniors and disabled individuals in Arkansas.

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1 program · $562K · in their own filed words · FY2020
01

Provide low-income housing to the elderly and disabled in cabot and lonoke, arkansas in accordance with the us department of housing & urban development

$562Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$656K
Ln 12
Fees for servicesLn 2g$656K
Investment incomeLn 3$48
Money outPt IX
$618K
Ln 25
Programscol B$562K
Managementcol C$56K
Owns and owesPt X
−$739K
net assets · Ln 32
Cash and savingsLn 1–2$42K
Total assetsLn 16$1.4M
LiabilitiesLn 26$2.2M
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$656K
Investment incomeLn 3$48
Total revenueLn 12$656K
Assets in detailPt X, end of year
CashLn 1$42K
Cash and savings togetherLn 1–2$42K
Land, buildings, equipmentLn 10c$993K
Other assetsLn 15$259K
Total assetsLn 16$1.4M
LiabilitiesLn 26$2.2M
Net assetsLn 32−$739K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
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 FY20End FY20
Cash and savingsLn 1–2$38K$42K
Land, buildings, equipmentLn 10c$1.0M$993K
Total assetsLn 16$1.5M$1.4M
LiabilitiesLn 26$2.2M$2.2M
Net assetsLn 32−$777K−$739K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$94K$94K
Payroll taxesLn 10$6K$6K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$10K$10K
Advertising and promotionLn 12$7K$7K
Office expensesLn 13$20K$20K
OccupancyLn 16$77K$40K$37K
Conferences, conventions and meetingsLn 19$532$532
InterestLn 20$71K$71K
Depreciation, depletion and amortizationLn 22$133K$133K
InsuranceLn 23$43K$43K
Other expenses (24a–d)Ln 24$119K$119K
All other expensesLn 24e$33K$25K$8K
Total functional expensesLn 25$618K$562K$56K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $697K$682K$15K−$670K 990 PDF
FY2022 $676K$663K$13K−$684K 990 PDF
FY2021 $660K$619K$41K−$697K 990 PDF
FY2020 Viewing $656K$618K$38K−$739K 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 FY2020 990 (6 parts)
Part I · Summary $656,153 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $618,031$656,105
I-10 Investment incomePrior year $187$48
I-11 Other revenue$0
I-12 Total revenuePrior year $618,218$656,153
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $130,904$100,106
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $499,780$517,750
I-18 Total expensesPrior year $630,684$617,856
I-19 Revenue less expensesPrior year −$12,466$38,297
Part VI · Governance 4 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $656,153 across 3 lines filed
Lines not itemized here account for −$12,406 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $668,511$668,511
VIII-3 Investment incomeExcluded from tax $48$48
VIII-12 Total revenueRelated to mission $656,105 · Excluded from tax $48$656,153
Part IX · Statement of functional expenses $617,856 across 13 lines filed
IX-7 Other salaries and wagesPrograms $93,732$93,732
IX-10 Payroll taxesPrograms $6,374$6,374
IX-11b Legal feesPrograms $4,130$4,130
IX-11c Accounting feesManagement $10,000$10,000
IX-12 Advertising and promotionPrograms $7,490$7,490
IX-13 Office expensesPrograms $20,032$20,032
IX-16 OccupancyPrograms $39,529 · Management $37,398$76,927
IX-19 Conferences, conventions and meetingsManagement $532$532
IX-20 InterestPrograms $70,750$70,750
IX-22 Depreciation, depletion and amortizationPrograms $133,360$133,360
IX-23 InsurancePrograms $42,504$42,504
IX-24 Other expenses (24a–d)Programs $118,650$118,650
IX-24e All other expensesPrograms $25,031 · Management $8,344$33,375
IX-25 Total functional expensesPrograms $561,582 · Management $56,274 · Fundraising $0$617,856
Part X · Balance sheet $1,434,593 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $38,391$41,911
X-4 Accounts receivableStart of year $5,696$12,382
X-9 Prepaid expenses and deferred chargesStart of year $11,472$10,947
X-10c Land, buildings and equipment, netStart of year $1,007,249$993,434
X-14 Intangible assetsStart of year $121,510$116,499
X-15 Other assetsStart of year $272,767$259,420
X-16 Total assetsStart of year $1,457,085$1,434,593
X-17 Accounts payable and accrued expensesStart of year $70,587$76,055
X-19 Deferred revenueStart of year $1,100$718
X-25 Other liabilitiesStart of year $17,861$20,116
X-26 Total liabilitiesStart of year $2,234,274$2,173,485
X-27 Net assets without donor restrictionsStart of year −$777,189−$738,892
X-32 Total net assets or fund balancesStart of year −$777,189−$738,892
X-33 Total liabilities and net assetsStart of year $1,457,085$1,434,593
Part XI · Reconciliation of net assets −$738,892 net assets at year end
XI-1 Total revenue$656,153
XI-2 Total expenses$617,856
XI-3 Revenue less expenses$38,297
XI-4 Net assets at start of year−$777,189
XI-10 Net assets at end of year−$738,892

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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