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Cre-Act INC FY2023 filing

Tax-deductible

Tulsa, OK501(c)(3)Housing EIN 73-1562165Revenue $128K in FY2023

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

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FY2023 · 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: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.0M
192% of total assets
Concern: liabilities are 192% 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
$128K
-0.3% vs prior year
Spent
$137K
To programs
96%
Net assets
−$500K
By yearFY2021–FY2025
Revenue
$128K
FY2023-0.3%
Tap a bar for its year
Revenue by fiscal year
FY2021$112K
FY2022$128K
FY2023$128K
FY2024$132K
FY2025$131K
Expenses
$137K
FY2023▼ -9%
Tap a bar for its year
Expenses by fiscal year
FY2021$130K
FY2022$151K
FY2023$137K
FY2024$170K
FY2025$162K
Net assets
−$500K
FY2023▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2021−$468K
FY2022−$490K
FY2023−$500K
FY2024−$538K
FY2025−$568K

From the FY2023 Form 990 (year ending June 2023) · see the original

990 PDF Claim
You’re viewing the FY2023 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% · $132K 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 (FY2022); the FY2023 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.

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Provided by the organization

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1 program · $132K · in their own filed words · FY2022
01

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

$132Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$128K
Ln 12
Gifts and grantsLn 1h$71K
Fees for servicesLn 2g$57K
Investment incomeLn 3$61
Money outPt IX
$137K
Ln 25
Programscol B$132K
Managementcol C$5K
Owns and owesPt X
−$500K
net assets · Ln 32
Cash and savingsLn 1–2$1K
Total assetsLn 16$543K
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$71K
Government grantsLn 1e$71K
Fees for servicesLn 2g$57K
Investment incomeLn 3$61
Total revenueLn 12$128K
Assets in detailPt X, end of year
CashLn 1$1K
Cash and savings togetherLn 1–2$1K
Land, buildings, equipmentLn 10c$496K
Other assetsLn 15$38K
Total assetsLn 16$543K
LiabilitiesLn 26$1.0M
Net assetsLn 32−$500K
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 FY23End FY23
Cash and savingsLn 1–2$239$1K
Land, buildings, equipmentLn 10c$512K$496K
Total assetsLn 16$553K$543K
LiabilitiesLn 26$1.0M$1.0M
Net assetsLn 32−$490K−$500K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pension plan contributionsLn 8$15K$15K
Payroll taxesLn 10$1K$1K
Management feesLn 11a$10K$10K
Accounting feesLn 11c$6K$1K$5K
Office expensesLn 13$9K$9K
Depreciation, depletion and amortizationLn 22$26K$26K
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$56K$56K
Total functional expensesLn 25$137K$132K$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 Viewing $128K$137K−$9K−$500K 990 PDF
FY2022 $128K$151K−$22K−$490K 990 PDF
FY2021 $112K$130K−$18K−$468K 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 FY2023 990 (6 parts)
Part I · Summary $127,871 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $75,857$71,221
I-9 Program service revenuePrior year $52,431$56,589
I-10 Investment incomePrior year $11$61
I-11 Other revenue$0
I-12 Total revenuePrior year $128,299$127,871
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $25,767$16,329
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $124,828$120,916
I-18 Total expensesPrior year $150,595$137,245
I-19 Revenue less expensesPrior year −$22,296−$9,374
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 $127,871 across 5 lines filed
VIII-1e Government grants$71,221
VIII-1h Total contributions, gifts and grants$71,221
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $56,589$56,589
VIII-3 Investment incomeRelated to mission $61$61
VIII-12 Total revenueRelated to mission $56,650 · Unrelated business $0 · Excluded from tax $0$127,871
Part IX · Statement of functional expenses $137,245 across 8 lines filed
IX-8 Pension plan contributionsPrograms $15,024$15,024
IX-10 Payroll taxesPrograms $1,305$1,305
IX-11a Management feesPrograms $9,945$9,945
IX-11c Accounting feesPrograms $1,105 · Management $5,100$6,205
IX-13 Office expensesPrograms $8,706$8,706
IX-22 Depreciation, depletion and amortizationPrograms $25,690$25,690
IX-23 InsurancePrograms $13,998$13,998
IX-24 Other expenses (24a–d)Programs $56,372$56,372
IX-25 Total functional expensesPrograms $132,145 · Management $5,100 · Fundraising $0$137,245
Part X · Balance sheet $543,331 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $239$1,391
X-4 Accounts receivable$360
X-9 Prepaid expenses and deferred chargesStart of year $9,776$8,181
X-10c Land, buildings and equipment, netStart of year $511,531$495,666
X-15 Other assetsStart of year $31,748$37,733
X-16 Total assetsStart of year $553,294$543,331
X-17 Accounts payable and accrued expensesStart of year $44,807$43,271
X-25 Other liabilitiesStart of year $998,967$999,914
X-26 Total liabilitiesStart of year $1,043,774$1,043,185
X-27 Net assets without donor restrictionsStart of year −$490,480−$499,854
X-32 Total net assets or fund balancesStart of year −$490,480−$499,854
X-33 Total liabilities and net assetsStart of year $553,294$543,331
Part XI · Reconciliation of net assets −$499,854 net assets at year end
XI-1 Total revenue$127,871
XI-2 Total expenses$137,245
XI-3 Revenue less expenses−$9,374
XI-4 Net assets at start of year−$490,480
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$499,854

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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