Oak-Michigan Housing Development: Nonprofit Profile, Financials & Form 990 (EIN 75-3201519)

Revenue by fiscal year
FY2020	$1.7M
FY2021	$1.8M
FY2022	$5.7M

Expenses by fiscal year
FY2020	$1.7M
FY2021	$1.7M
FY2022	$153K

Net assets by fiscal year
FY2020	−$5.6M
FY2021	−$5.6M
FY2022	$0

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2022.

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

Where the money goes

92 cents of each dollar spent went to programs.

92%

Program services 92% · $140K Management & general 8% · $13K

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 · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII

Deacon Archie Martin

Co-Chairman

$0Pt VII · Sec A

Pastor Michael Chapman

President

$0Pt VII · Sec A

Patricia King

Secretary

$0Pt VII · Sec A

Rebecca Jones

Treasurer

$0Pt VII · Sec A

Sister Gwendolyn Viera

Recorder

$0Pt VII · Sec A

Larry Webster

Director

$0Pt VII · Sec A

Clarence Simmons SR

Director

$0Pt VII · Sec A

Sylvester Johnson

Director

$0Pt VII · Sec A

See Oak-Michigan Housing Development 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 housing for low-income individuals with government assistance.

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Provided by the organization

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1 program · $140K · in their own filed words · FY2021

01

To provide housing to persons of low income through the assistance of the U.S. Department of housing and urban development.

$140Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$5.7M

Ln 12

Investment incomeLn 3$5.5M

Fees for servicesLn 2g$225K

Money outPt IX

$153K

Ln 25

Programscol B$140K

Managementcol C$13K

Owns and owesPt X

$0

net assets · Ln 32

Total assetsLn 16$0

LiabilitiesLn 26$0

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$225K

Investment incomeLn 3$5.5M

Gains on assetsLn 7$5.5M

Total revenueLn 12$5.7M

Assets in detailPt X, end of year

Land, buildings, equipmentLn 10c$0

Other assetsLn 15$0

Total assetsLn 16$0

LiabilitiesLn 26$0

Net assetsLn 32$0

OperationsPt I, VI

EmployeesI 57

VolunteersI 60

Fiscal year endsHeaderOctober

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY22	End FY22
Land, buildings, equipmentLn 10c	$1.1M	$0
Total assetsLn 16	$2.8M	$0
LiabilitiesLn 26	$8.4M	$0
Net assetsLn 32	−$5.6M	$0

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$892		$892
Other employee benefitsLn 9	$365		$365
Payroll taxesLn 10	$26		$26
Other fees for servicesLn 11g	$32K	$21K	$11K
Office expensesLn 13	$528		$528
OccupancyLn 16	$16K	$16K
InterestLn 20	$77K	$77K
Depreciation, depletion and amortizationLn 22	$15K	$15K
InsuranceLn 23	$10K	$10K
Other expenses (24a–d)Ln 24	$1K	$634	$392
Total functional expensesLn 25	$153K	$140K	$13K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2022 Latest Viewing	$5.7M	$153K	$5.6M	$0	990 PDF
FY2021	$1.8M	$1.7M	$58K	−$5.6M	990 PDF
FY2020	$1.7M	$1.7M	−$79K	−$5.6M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations

See the full FY2022 990 (6 parts)

Part I · Summary $5,703,203 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $1,739,945$224,567

I-10 Investment incomePrior year $754$5,478,636

I-11 Other revenuePrior year $11,506$0

I-12 Total revenuePrior year $1,752,205$5,703,203

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 $360,467$1,283

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $1,333,339$151,707

I-18 Total expensesPrior year $1,693,806$152,990

I-19 Revenue less expensesPrior year $58,399$5,550,213

Part VI · Governance 8 of 8 board members independent, 4 to look at

VI-1a Voting members of the governing body8

VI-1b Independent voting members8

VI-12a Written conflict of interest policyNo

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

Part VIII · Statement of revenue $5,703,203 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $224,567$224,567

VIII-7 Net gain or loss on sales of assetsRelated to mission $5,478,636$5,478,636

VIII-12 Total revenueRelated to mission $5,703,203 · Unrelated business $0 · Excluded from tax $0$5,703,203

Part IX · Statement of functional expenses $152,990 across 10 lines filed

IX-7 Other salaries and wagesManagement $892$892

IX-9 Other employee benefitsManagement $365$365

IX-10 Payroll taxesManagement $26$26

IX-11g Other fees for servicesPrograms $21,030 · Management $10,800$31,830

IX-13 Office expensesManagement $528$528

IX-16 OccupancyPrograms $16,160$16,160

IX-20 InterestPrograms $77,095$77,095

IX-22 Depreciation, depletion and amortizationPrograms $15,154$15,154

IX-23 InsurancePrograms $9,914$9,914

IX-24 Other expenses (24a–d)Programs $634 · Management $392$1,026

IX-25 Total functional expensesPrograms $139,987 · Management $13,003 · Fundraising $0$152,990

Part X · Balance sheet $0 assets, 10 lines filed

X-10c Land, buildings and equipment, netStart of year $1,053,800$0

X-15 Other assetsStart of year $1,560,051$0

X-16 Total assetsStart of year $2,822,054$0

X-17 Accounts payable and accrued expensesStart of year $598,004$0

X-19 Deferred revenueStart of year $15,113$0

X-25 Other liabilitiesStart of year $40,052$0

X-26 Total liabilitiesStart of year $8,372,267$0

X-27 Net assets without donor restrictionsStart of year −$5,550,213$0

X-32 Total net assets or fund balancesStart of year −$5,550,213$0

X-33 Total liabilities and net assetsStart of year $2,822,054$0

Part XI · Reconciliation of net assets $0 net assets at year end

XI-1 Total revenue$5,703,203

XI-2 Total expenses$152,990

XI-3 Revenue less expenses$5,550,213

XI-4 Net assets at start of year−$5,550,213

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Oak-Michigan Housing Development

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Oak-Michigan Housing Development

By the numbers

Filing history

Schedules filed Part IV