Section 8-202 hud project providing low income housing for the elderly

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 7 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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 5
filings with a surplus
Average deficit $52K a year · 51% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$144K
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 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
$119K
+22% vs prior year
Spent
$176K
To programs
100%
Net assets
$498K
By yearFY2021–FY2025
Revenue
$119K
FY2025▲ +22%
Tap a bar for its year
Revenue by fiscal year
FY2021$99K
FY2022$98K
FY2023$95K
FY2024$97K
FY2025$119K
Expenses
$176K
FY2025▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2021$136K
FY2022$141K
FY2023$158K
FY2024$155K
FY2025$176K
Net assets
$498K
FY2025▼ -10%
Tap a bar for its year
Net assets by fiscal year
FY2021$720K
FY2022$677K
FY2023$614K
FY2024$556K
FY2025$498K

From the FY2025 Form 990 (year ending June 2025) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 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% · $176K

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 (FY2024); the FY2025 filing did not itemize Part VII
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Secretary / Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
President/CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Five Star 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 low-income housing for the elderly through a HUD Section 8 program.

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1 program · $176K · in their own filed words · FY2024
01

Five Star Development Corporation

Section 202 project containing units for the elderly

$176Kprogram expense

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$119K
Ln 12
Fees for servicesLn 2g$118K
Investment incomeLn 3$572
Other incomeLn 4–11$30
Money outPt IX
$176K
Ln 25
Programscol B$176K
Owns and owesPt X
$498K
net assets · Ln 32
Cash and savingsLn 1–2$17K
Total assetsLn 16$643K
LiabilitiesLn 26$144K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$118K
Investment incomeLn 3$572
Other incomeLn 4–11$30
Total revenueLn 12$119K
Assets in detailPt X, end of year
CashLn 1$17K
Cash and savings togetherLn 1–2$17K
Land, buildings, equipmentLn 10c$572K
Other assetsLn 15$44K
Total assetsLn 16$643K
LiabilitiesLn 26$144K
Net assetsLn 32$498K
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$1K$17K
Land, buildings, equipmentLn 10c$607K$572K
Total assetsLn 16$655K$643K
LiabilitiesLn 26$100K$144K
Net assetsLn 32$556K$498K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$18K$18K
Payroll taxesLn 10$1K$1K
Management feesLn 11a$12K$12K
Accounting feesLn 11c$8K$8K
Office expensesLn 13$6K$6K
OccupancyLn 16$47K$47K
Conferences, conventions and meetingsLn 19$435$435
Depreciation, depletion and amortizationLn 22$46K$46K
InsuranceLn 23$34K$34K
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$176K$176K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $119K$176K−$57K$498K 990 PDF
FY2024 $97K$155K−$58K$556K 990 PDF
FY2023 $95K$158K−$63K$614K 990 PDF
FY2022 $98K$141K−$43K$677K 990 PDF
FY2021 $99K$136K−$37K$720K 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 FY2025 990 (6 parts)
Part I · Summary $118,715 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $96,477$118,113
I-10 Investment incomePrior year $201$572
I-11 Other revenuePrior year $398$30
I-12 Total revenuePrior year $97,076$118,715
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 $18,121$19,307
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $136,853$156,814
I-18 Total expensesPrior year $154,974$176,121
I-19 Revenue less expensesPrior year −$57,898−$57,406
Part VI · Governance 7 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members7
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $118,715 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $118,113$118,113
VIII-3 Investment incomeExcluded from tax $572$572
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $30$30
VIII-12 Total revenueRelated to mission $118,143 · Unrelated business $0 · Excluded from tax $572$118,715
Part IX · Statement of functional expenses $176,121 across 10 lines filed
IX-7 Other salaries and wagesPrograms $17,990$17,990
IX-10 Payroll taxesPrograms $1,317$1,317
IX-11a Management feesPrograms $11,814$11,814
IX-11c Accounting feesPrograms $8,320$8,320
IX-13 Office expensesPrograms $6,431$6,431
IX-16 OccupancyPrograms $46,817$46,817
IX-19 Conferences, conventions and meetingsPrograms $435$435
IX-22 Depreciation, depletion and amortizationPrograms $46,127$46,127
IX-23 InsurancePrograms $34,491$34,491
IX-24 Other expenses (24a–d)Programs $2,379$2,379
IX-25 Total functional expensesPrograms $176,121 · Management $0 · Fundraising $0$176,121
Part X · Balance sheet $642,688 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,435$16,651
X-4 Accounts receivableStart of year $2,799$2,309
X-9 Prepaid expenses and deferred chargesStart of year $4,441$7,292
X-10c Land, buildings and equipment, netStart of year $606,614$572,279
X-15 Other assetsStart of year $40,069$44,157
X-16 Total assetsStart of year $655,358$642,688
X-17 Accounts payable and accrued expensesStart of year $99,387$143,823
X-19 Deferred revenueStart of year $133$433
X-26 Total liabilitiesStart of year $99,520$144,256
X-27 Net assets without donor restrictionsStart of year $555,838$498,432
X-32 Total net assets or fund balancesStart of year $555,838$498,432
X-33 Total liabilities and net assetsStart of year $655,358$642,688
Part XI · Reconciliation of net assets $498,432 net assets at year end
XI-1 Total revenue$118,715
XI-2 Total expenses$176,121
XI-3 Revenue less expenses−$57,406
XI-4 Net assets at start of year$555,838
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$498,432

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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