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Wmch Development Corporation

Tax-deductible

Phoenix, AZ501(c)(3) EIN 74-2354546Revenue $363K in FY2024

On file with the IRS2330 W Mission Ln Ste 10, 85021-2816 · Phoenix, AZTax-exempt since May 1985Publicly supported — 509(a)(2)

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To provide housing and support services for elderly and handicapped persons.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Run by 8 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $34K a year · 10% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$283K
152% of total assets
Concern: liabilities are 152% 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
$363K
+3% vs prior year
Spent
$304K
To programs
81%
Net assets
−$96K
By yearFY2020–FY2024
Revenue
$363K
FY2024▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$320K
FY2021$332K
FY2022$333K
FY2023$352K
FY2024$363K
Expenses
$304K
FY2024▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$291K
FY2021$302K
FY2022$317K
FY2023$313K
FY2024$304K
Net assets
−$96K
FY2024▲ +38%
Tap a bar for its year
Net assets by fiscal year
FY2020−$240K
FY2021−$209K
FY2022−$194K
FY2023−$155K
FY2024−$96K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1985.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $247K Management & general 19% · $57K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Tony Raykovitz
Vice President
$0Pt VII · Sec A
Ginger Wiltbank
Treasurer (from 2/24)
$0Pt VII · Sec A
Tomi St Mars
Secretary (from 2/24)
$0Pt VII · Sec A
$0Pt VII · Sec A
Judy Palmer
Director (from 3/24)
$0Pt VII · Sec A
Doug Henderson
Director (from 12/24)
$0Pt VII · Sec A
Matt Atlas
Director (from 12/24)
$0Pt VII · Sec A
See Wmch 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

Offers housing and support services for elderly and handicapped individuals.

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Provided by the organization

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1 program · $247K · in their own filed words · FY2024
01

This organization provided affordable housing to elderly and persons with disabilities through the operation of a 32-UNIT multifamily housing complex in springerville, arizona. In 2024, this organization provided decent and safe housing to 36 residents: 17% between the ages 18-61 (non-elderly people with disabilities), 69% between the…

$247Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$363K
Ln 12
Fees for servicesLn 2g$361K
Investment incomeLn 3$1K
Money outPt IX
$304K
Ln 25
Programscol B$247K
Managementcol C$57K
Owns and owesPt X
−$96K
net assets · Ln 32
Cash and savingsLn 1–2$10K
Total assetsLn 16$186K
LiabilitiesLn 26$283K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$361K
Investment incomeLn 3$1K
Gains on assetsLn 7−$188
Total revenueLn 12$363K
Assets in detailPt X, end of year
CashLn 1$10K
Cash and savings togetherLn 1–2$10K
Land, buildings, equipmentLn 10c$91K
Other assetsLn 15$78K
Total assetsLn 16$186K
LiabilitiesLn 26$283K
Net assetsLn 32−$96K
OperationsPt I, VI
EmployeesI 50
VolunteersI 68
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 FY24End FY24
Cash and savingsLn 1–2$7K$10K
Land, buildings, equipmentLn 10c$96K$91K
Total assetsLn 16$194K$186K
LiabilitiesLn 26$349K$283K
Net assetsLn 32−$155K−$96K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$70K$65K$5K
Other employee benefitsLn 9$19K$18K$1K
Payroll taxesLn 10$7K$6K$473
Management feesLn 11a$15K$15K
Legal feesLn 11b$930$930
Accounting feesLn 11c$16K$16K
Other fees for servicesLn 11g$5K$5K
Office expensesLn 13$14K$14K
Information technologyLn 14$1K$1K
OccupancyLn 16$58K$58K
TravelLn 17$576$576
Conferences, conventions and meetingsLn 19$1K$1K
InterestLn 20$21K$21K
Depreciation, depletion and amortizationLn 22$28K$28K
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$32K$32K
Total functional expensesLn 25$304K$247K$57K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $363K$304K$59K−$96K 990 PDF
FY2023 $352K$313K$39K−$155K 990 PDF
FY2022 $333K$317K$16K−$194K 990 PDF
FY2021 $332K$302K$31K−$209K 990 PDF
FY2020 $320K$291K$29K−$240K 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 FY2024 990 (6 parts)
Part I · Summary $362,657 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $350,894$361,251
I-10 Investment incomePrior year $761$1,406
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $351,655$362,657
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 $103,274$96,114
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $209,774$207,874
I-18 Total expensesPrior year $313,048$303,988
I-19 Revenue less expensesPrior year $38,607$58,669
Part VI · Governance 8 of 8 board members independent, 3 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $362,657 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $361,251$361,251
VIII-3 Investment incomeExcluded from tax $1,594$1,594
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$188−$188
VIII-12 Total revenueRelated to mission $361,251 · Unrelated business $0 · Excluded from tax $1,406$362,657
Part IX · Statement of functional expenses $303,988 across 16 lines filed
IX-7 Other salaries and wagesPrograms $65,079 · Management $4,752$69,831
IX-9 Other employee benefitsPrograms $18,021 · Management $1,316$19,337
IX-10 Payroll taxesPrograms $6,473 · Management $473$6,946
IX-11a Management feesManagement $15,360$15,360
IX-11b Legal feesManagement $930$930
IX-11c Accounting feesManagement $16,299$16,299
IX-11g Other fees for servicesPrograms $5,472$5,472
IX-13 Office expensesManagement $14,242$14,242
IX-14 Information technologyManagement $1,376$1,376
IX-16 OccupancyPrograms $57,729$57,729
IX-17 TravelManagement $576$576
IX-19 Conferences, conventions and meetingsManagement $1,494$1,494
IX-20 InterestPrograms $21,329$21,329
IX-22 Depreciation, depletion and amortizationPrograms $28,192$28,192
IX-23 InsurancePrograms $12,742$12,742
IX-24 Other expenses (24a–d)Programs $32,133$32,133
IX-25 Total functional expensesPrograms $247,170 · Management $56,818 · Fundraising $0$303,988
Part X · Balance sheet $186,350 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $6,538$10,294
X-4 Accounts receivableStart of year $0$34
X-9 Prepaid expenses and deferred chargesStart of year $4,773$6,349
X-10c Land, buildings and equipment, netStart of year $96,181$91,334
X-15 Other assetsStart of year $86,783$78,339
X-16 Total assetsStart of year $194,275$186,350
X-17 Accounts payable and accrued expensesStart of year $23,815$26,114
X-19 Deferred revenueStart of year $597$680
X-25 Other liabilitiesStart of year $46,337$46,337
X-26 Total liabilitiesStart of year $349,287$282,693
X-27 Net assets without donor restrictionsStart of year −$155,012−$96,343
X-32 Total net assets or fund balancesStart of year −$155,012−$96,343
X-33 Total liabilities and net assetsStart of year $194,275$186,350
Part XI · Reconciliation of net assets −$96,343 net assets at year end
XI-1 Total revenue$362,657
XI-2 Total expenses$303,988
XI-3 Revenue less expenses$58,669
XI-4 Net assets at start of year−$155,012
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$96,343

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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