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Cre-Act INC FY2021 filing

Tax-deductible

Tulsa, OK501(c)(3)HousingEIN 73-1562165Revenue $112K in FY2021

On file with the IRS7010 S Yale Ave Ste 215, 74136-5743 · Tulsa, OKTax-exempt since Jun 1999Publicly supported — 509(a)(2)

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To provide affordable housing for low-income persons with disabilities.

501(c)(3) charity; gifts are tax-deductible.
96¢ 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 5
filings with a surplus
Average deficit $24K a year · 19% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.0 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.0M
181% of total assets
Concern: liabilities are 181% of assets; over 80%.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$112K
Spent
$130K
To programs
96%
Net assets
−$468K
By yearFY2021–FY2025
Revenue
$112K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$112K
FY2022$128K
FY2023$128K
FY2024$132K
FY2025$131K
Expenses
$130K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$130K
FY2022$151K
FY2023$137K
FY2024$170K
FY2025$162K
Net assets
−$468K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021−$468K
FY2022−$490K
FY2023−$500K
FY2024−$538K
FY2025−$568K

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

Form 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 1999.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $125K Management & general 4% · $5K

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

16 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Amy Richards
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Steve Odom
Director
$0Pt VII · Sec A
Kathy Thomas
Director
$0Pt VII · Sec A
Bill Witt
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Cre-Act 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

Builds affordable homes for people with disabilities who have low incomes.

Questions for Cre-Act INC

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Provided by the organization

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1 program · $125K · in their own filed words · FY2020
01

To provide affordable housing for low-income persons with disabilities.

$125Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$112K
Ln 12
Gifts and grantsLn 1h$58K
Fees for servicesLn 2g$53K
Investment incomeLn 3$11
Money outPt IX
$130K
Ln 25
Programscol B$125K
Managementcol C$5K
Owns and owesPt X
−$468K
net assets · Ln 32
Cash and savingsLn 1–2$18
Total assetsLn 16$578K
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$58K
Government grantsLn 1e$58K
Fees for servicesLn 2g$53K
Investment incomeLn 3$11
Total revenueLn 12$112K
Assets in detailPt X, end of year
CashLn 1$18
Cash and savings togetherLn 1–2$18
Land, buildings, equipmentLn 10c$534K
Other assetsLn 15$32K
Total assetsLn 16$578K
LiabilitiesLn 26$1.0M
Net assetsLn 32−$468K
OperationsPt I, VI
EmployeesI 52
VolunteersI 615
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 FY21End FY21
Cash and savingsLn 1–2$1K$18
Land, buildings, equipmentLn 10c$558K$534K
Total assetsLn 16$598K$578K
LiabilitiesLn 26$1.0M$1.0M
Net assetsLn 32−$450K−$468K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$19K$19K
Payroll taxesLn 10$2K$2K
Management feesLn 11a$9K$9K
Legal feesLn 11b$823$823
Accounting feesLn 11c$6K$1K$5K
Advertising and promotionLn 12$49$49
Office expensesLn 13$8K$8K
Depreciation, depletion and amortizationLn 22$24K$24K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$46K$46K
Total functional expensesLn 25$130K$125K$5K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $131K$162K−$30K−$568K 990 PDF
FY2024 $132K$170K−$38K−$538K 990 PDF
FY2023 $128K$137K−$9K−$500K 990 PDF
FY2022 $128K$151K−$22K−$490K 990 PDF
FY2021 Viewing $112K$130K−$18K−$468K 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 FY2021 990 (6 parts)
Part I · Summary $111,509 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $63,170$58,440
I-9 Program service revenuePrior year $49,468$53,058
I-10 Investment incomePrior year $19$11
I-11 Other revenue$0
I-12 Total revenuePrior year $112,657$111,509
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $25,123$20,305
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $123,809$109,670
I-18 Total expensesPrior year $148,932$129,975
I-19 Revenue less expensesPrior year −$36,275−$18,466
Part VI · Governance 15 of 15 board members independent, 1 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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 $111,509 across 5 lines filed
VIII-1e Government grants$58,440
VIII-1h Total contributions, gifts and grants$58,440
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $53,058$53,058
VIII-3 Investment incomeRelated to mission $11$11
VIII-12 Total revenueRelated to mission $53,069 · Unrelated business $0 · Excluded from tax $0$111,509
Part IX · Statement of functional expenses $129,975 across 10 lines filed
IX-7 Other salaries and wagesPrograms $18,693$18,693
IX-10 Payroll taxesPrograms $1,612$1,612
IX-11a Management feesPrograms $9,180$9,180
IX-11b Legal feesPrograms $823$823
IX-11c Accounting feesPrograms $1,020 · Management $4,950$5,970
IX-12 Advertising and promotionPrograms $49$49
IX-13 Office expensesPrograms $7,769$7,769
IX-22 Depreciation, depletion and amortizationPrograms $24,413$24,413
IX-23 InsurancePrograms $15,704$15,704
IX-24 Other expenses (24a–d)Programs $45,762$45,762
IX-25 Total functional expensesPrograms $125,025 · Management $4,950 · Fundraising $0$129,975
Part X · Balance sheet $578,164 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,180$18
X-4 Accounts receivable$1,199
X-9 Prepaid expenses and deferred chargesStart of year $10,164$10,805
X-10c Land, buildings and equipment, netStart of year $558,444$534,031
X-15 Other assetsStart of year $27,952$32,111
X-16 Total assetsStart of year $597,740$578,164
X-17 Accounts payable and accrued expensesStart of year $48,380$47,658
X-25 Other liabilitiesStart of year $999,078$998,690
X-26 Total liabilitiesStart of year $1,047,458$1,046,348
X-27 Net assets without donor restrictionsStart of year −$449,718−$468,184
X-32 Total net assets or fund balancesStart of year −$449,718−$468,184
X-33 Total liabilities and net assetsStart of year $597,740$578,164
Part XI · Reconciliation of net assets −$468,184 net assets at year end
XI-1 Total revenue$111,509
XI-2 Total expenses$129,975
XI-3 Revenue less expenses−$18,466
XI-4 Net assets at start of year−$449,718
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$468,184

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

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